The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

It Is Not Often That I Greet A New Federal Reserve Chair. . .

by Smitty Cultural references, alas. Before it ends YOU!

Zero Hedge Lays It Down, Mead Sort Of Picks It Up

by Smitty For most of the past four or five years, I have spent the majority of my time studying the dominant forces that fuel the power structure that exists in these Unites States today, and indeed throughout the world.  My education began quite suddenly and unexpectedly in the middle of the last decade when I […]

‘Shut Up!’ The Modern Monetary
Theorist Explained

by Smitty Essentially, there are four preconditions in Modern Monetary Theory: Money enters the economy through government spending, as the total amount of money is constrained not by gold but by the total output of the national economy; Government spending is speculative as it prints as much money as it needs to control production and, […]

Above All Else, Remember: The Federal Reserve Has Gone Malignant

by Smitty The New York Sun: “Bernanke warns congress to butt out of interest-rate policy discussions . . .” is the headline up on the Drudge Report following the speech today by the Federal Reserve’s chairman at Indiana. It sounds to us like the chairman is warning Congress against passing Congressman Ron Paul’s audit-the-Fed legislation […]

‘Gentleman’ Jim Moran Has The Right Of It: Audit the Fed Passes House, 327-98

by Smitty Good news via Freedom Works: the Audit the Fed bill passed. And now it goes to the Senate, where Dingius Maximus (Harry Reid), remains mostly paralyzed by a head-shaped object in an unlikely location (emphasis mine): “Ron Paul’s ‘Audit The Fed’ bill is a reminder of his tireless efforts to promote sound money […]

‘Zimbabwe’ Ben Rides Again?

by Smitty The post title is meant to connect Ben Bernanke with ruinous monetary policy in another country, not as a derogation of the fine people of Zimbabwe, who certainly deserve better than a Bernanke riff. Financial Times reports that, while the Federal Reserve isn’t addicted to the cocaine of currency inflation, the Fed does […]

First Principles Blog Series On Taxation

by Smitty First Principles was taking me to task in the comments over on the Norquist post. This is the kind of back-and-forth that can be highly educational, if one can dodge the temptation toward ad hominem. FP: When it comes to political hot points in conservative political circles in Nevada, the Grover Norquist/Americans for […]

Asking The ‘Hahrd’ Questions

by Smitty Julie Borowski at the mighty Freedom Works: Last week, the audit the Fed movement received good news that House Republican leaders plan to hold a vote on a full audit bill in July. Introduced by none other than Rep. Ron Paul (R-TX), the Federal Reserve Transparency Act would require frequent thorough audits of […]

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