Category Archives: U.S. Dollar

Good default, bad default

On August 15, 1971, President Nixon announced to the world that the U.S. Government is defaulting on its promise to redeem dollars to foreign institutions that had the right to exchange their greenbacks for gold at the official rate of … Continue reading






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Obama’s vision: more crony capitalism and foreign intervention; the GOP response: we support the welfare-warfare state, too

While I was driving home Tuesday evening, I listened to President Obama’s State of the Union address for a few minutes on the radio.  Obama’s speech was vapid with an insightful phrase thrown in here and there to show he … Continue reading






Posted in Federal Government, Federal Reserve, Income taxes, Spending, Taxes, The Warfare State, U.S. Dollar, Welfare state | 1 Comment

Economic illiterates–Tony Fratto and Greg Valliere–defend the Fed and attack Ron Paul

Economic illiterates dominate financial cable news programs. These commentators reveal their ignorance about how the Federal Reserve manipulates interest rates, causes financial bubbles, and debases the currency.   For starters, these lame defenders of the Fed should read Murray Rothbard’s … Continue reading






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This is the government we have chosen

One of the most memorable lines in American cinema occurred on a balcony in a Havana hotel on the eve of the Cuban Revolution.  On the balcony Hyman Roth, an elderly gangster, is speaking to Michael Corleone about making an … Continue reading






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When will the U.S. dollar collapse?

The Federal Reserve has created more than a trillion dollars in the past few years.  The last two federal budgets have had back-to-back one trillion dollar plus deficits for the first time in history.  The federal government budget shows no … Continue reading






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Ben Bernanke’s money machine is about to go into overdrive

On October 15th Ben Bernanke, chairman of the Federal Reserve, gave a speech at the Federal Reserve Bank of Boston outlining his views on the economy and asserted that the   FED will pursue its dual mandate vigorously:  maximum employment and … Continue reading






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The BS GOP “Pledge to America” and what should replace it

With much fanfare including a photo op away from the nation’s capital, GOP congressional leaders rolled out their “Pledge to America,” which includes all the images (Statue of Liberty, Mount Rushmore, small businesses, town hall meetings and of course the … Continue reading






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The counter counterrevolution continues

The results of the GOP primaries this year reveal one indisputable fact; grassroots Republicans are angry, frustrated, and disgusted; they want to restrain the power of the federal government.  We will have to wait until November 2nd to see if … Continue reading






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The financial collapse is accelerating

In an New York Times op-ed, “Easy Money, Hard Truths,”  hedge fund manager David Einhorn lays out the case that we should not worry about future generations feeling the pain of a huge national debt, unfunded liabilities and a weak … Continue reading






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