Nearly all the interest the Federal Reserve collects on government debt is rebated to the Treasury each year. However, the banking cartel is able to use tax dollars to pay 100% of its operating expenses with a blank check. [...]
(ANTIMEDIA) Phoenix, AZ — The latest massive price increases in cryptocurrencies like Bitcoin and Ethereum have boosted the credibility of investors who criticize the fiat currency system. Unfortunately, precious metals haven’t followed in crypto’s footsteps yet, and heavy losses over the last few years have led many people to write off the asset class altogether.
[audio mp3="http://www.corbettreport.com/mp3/2017-05-17%20Edward%20Griffin.mp3"][/audio]If you follow the alt media you've probably heard the theory that the bankers were behind the JFK assassination. The theory holds that JFK was trying to end the Fed by creating debt-free, silver-backed money through Executive Order 11110, and the bankers saw this as a threat to their monopoly over the money supply. But this theory is not just wrong, it is completely opposite to reality.
(ANTIMEDIA) The price of bitcoin just surpassed $1,800, its second all-time high this week. As governments worldwide eye the blockchain technology and ready new cryptocurrency rules, there is no sign bitcoin’s astronomical rise in value, up 81 percent this year, is over.
"Free Banking alone does not a free society make, but no society is really free when money, credit, finance are centrally controlled."
(RPI) Congress ended the week by passing a continuing resolution keeping the government funded for one more week. This stopgap funding bill is designed to give Congress and the White House more time to negotiate a long-term spending bill. Passage of a long-term spending bill has been delayed over objections to Republican efforts to preserve Obamcare’s key features but give states a limited ability to opt out of some Obamacare mandates.
The homilies you hear every day now on the danger of the debt and deficit – and why the US must never cut taxes for fear of increasing them – are mostly political rhetoric designed to perpetuate the ongoing pillaging of the American taxpayer. The way to restrain debt accumulation is through spending control, and the way to impose that is through market discipline under real-world conditions.
If the Fed just met its target of 2% inflation, prices would double in 36 years. The current inflation rate of 2.4%, which the Fed does not seem to be unhappy with, would lead to a doubling of prices in 30 years.
Interventionism creates new dislocations that seem to cry out for further interventions, which don't actually solve the problem. Free markets make corrections in real time, which can be painful in the short term, but most beneficial in the long term.
