Our forefathers turned their debts into currency. That Constitutional approach could work today. On Friday, Jan. 13, Treasury Secretary Janet Yellen wrote to Congress that the U.S. government will hit its borrowing limit on Jan. 19, forcing the new Congress into negotiations over the debt limit much sooner than expected. She said she will use accounting maneuvers […]
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Inflation is plaguing consumer markets, putting pressure on the Federal Reserve to raise interest rates to tighten the money supply. But as Rex Nutting writes in a MarketWatch column titled “Why Interest Rates Aren’t Really the Right Tool to Control Inflation”: It may be heresy to those who think the Fed is all-powerful, but the honest answer […]
The Fed has options for countering the record inflation the U.S. is facing that are more productive and less risky than raising interest rates. The Federal Reserve is caught between a rock and a hard place. Inflation grew by 6.8% in November, the fastest in 40 years, a trend the Fed has now acknowledged is not […]
Although the repo market is little known to most people, it is a $1-trillion-a-day credit machine, in which not just banks but hedge funds and other “shadow banks” borrow to finance their trades. Under the Federal Reserve Act, the central bank’s lending window is open only to licensed depository banks; but the Fed is now […]
Would Trump put his own personal interests ahead of the country's interests? If anyone doesn't know the answer to that, it's useless trying to persuade them. In truth, if Trump could gain a quarter by costing the U.S. a billion, he would jump at it. Trump will sell us out to our enemies in a blink of an eye.
"Today’s loan sharks wear expensive suits and work on Wall Street, where they make hundreds of millions of dollars in total compensation by charging sky-high fees and usurious interest rates."-Bernie Sanders and Alexandria Ocasio Cortez
BUENOS AIRES, ARGENTINA — Days before Christmas of 2001, a 54-year-old Argentine woman named Norma Cecilia Albino shoved her way past the throngs of demonstrators protesting the government’s new banking restrictions, walked into a bank branch in a northern Buenos Aires neighborhood, strolled to the counter, and asked to withdraw a few pesos from her account.
