Federal Reserve

The case of IndyMac, the largest regulated thrift institution to fail in U.S. history, shows just how fundamentally unsound our government supported banking system is. The fractional reserve banking swindle can only continue so long and I hope the IndyMac failure will open some people's eyes.

The global financial system is about to collapse because the U.S. dollar is about to collapse. The U.S. dollar is about to collapse because of a simple economic fact that no one has the power to change or conceal.

If "Truth is treason in the empire of lies," as Rep. Ron Paul (R-Texas) writes in his new book, The Revolution: A Manifesto, then Paul has certainly committed treason by laying out the truth of the precarious state of the United States in 2008.

Zimbabwe has just released a new $50 million bank note. This comes after it was reported that inflation reached 165,000% in the month of February. Oh what prosperity central banks can bring! I can't wait for the day it costs $15 million to buy a loaf of bread here in the United States.

"What are you working on today, Madam President?" asked Doctor Murchison.

"My plan to fix the housing crisis," said Hillary, without looking up.

John McCain is furious that the Senate shot down his proposal to have a one-year moratorium on spending earmarks. The Senate blocked the proposal by a vote of 71-29 on Thursday. McCain is not a fiscal conservative in any sense of the word; thus, he attacks earmarks as some kind of financial plague that is bankrupting our country.

Jeez. The Clinton Obama show is killing comedy. Great jokes are getting lost in the sauce. Did you hear the one about Federal Reserve Chairman Ben Bernanke? Ben walks into a bar. A pair of antlers on his head. "Been cuckolded, mister?" asks a chippy, trying for a pickup. The bartender (a squirrelly guy with no chin) answers for Ben. "Nah -- he's just worried about stagflation."

Not.

Fed chairman Ben Bernanke testified before Congress a few days ago, and was schooled once again by Ron Paul. My favorite statement by Bernanke, which he often repeats when discussing monetary issues with Dr. Paul, is that he is charged with creating "stable prices" via the workings of the central bank. It honestly blows my mind that you can assume you are creating price stability by inflating the money supply. Look at this graph of the MZM money stock:

Bernard von NotHaus remains undaunted after a federal raid on his Liberty Dollar business in which his means of production and inventory were seized along with tons of precious metal owned by thousands of individual Americans.

One of the greatest blog posts I have seen in a while; short, yet very telling:
"NYT:

A day after the Federal Reserve disappointed investors with a modest cut in interest rates, central banks in North America and Europe on Wednesday announced the most aggressive infusion of capital into the banking system since the terrorist attacks of September 2001.

And it makes you wonder why they don't do a one-time zillion dollar infusion of 'capital' and make the whole world wealthy forever." - Jeff Tucker, Mises.org