| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Warning: The Federal Reserve Could Soon Cross The Point Of No Return, The Decision Not To Challenge The Feds Miserable Record Is Becoming A Life Or Death Decision For Many People Today
Warning: The Federal Reserve could soon cross the point of “no return”
“Whatever It Takes” Comes To The US: Here Is What It Means
As we warned two weeks ago in “Bernanke’s Helicopter is Warming Up“, it seems (from the Fed’s once uberhawk and now superduperdove Kocherlakota’s speech this morning) that the Fed is catching on as to what it needs to do. And what it has no choicebut to do. Borrowing from the Europeans, Kocherlakota uttered those three special words:
- KOCHERLAKOTA SAYS FED MUST DO “WHATEVER IT TAKES” TO AID GROWTH
Draghi will be proud: even more proud because to emphasize his point Kocherlakota used the phrase not once, not twice, but seven times! But what is more concerning is what this means for US monetary policy’s next steps. In Kocherlakota’s own words “this means doing something different.” We suspect, as we noted here, Nominal GDP targeting (i.e. unanchoring inflation expectations and leaving and forgetting something very heavy on the CTRL and P buttons) is on the agenda as deflationary fears continue to rise.
Full details on what is possible, see our full description here
A fact about inflation that will shock the average American
The 100th anniversary of one of the most important economic events in world history is approaching on December 23.
A hundred years ago, on December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act into law. That was the birth of the Fed.
The Federal Reserve was sold as, among other things, a way to manage the United States dollar. The Fed’s currency management record is very clear, and no matter what your politics, this record speaks for itself…
Here’s the short version: Since President Wilson signed the Fed into lawful existence, the U.S. dollar has lost approximately 96% of its value. A 1913 $1 is now worth just $0.04. What cost $1.00 in 1913, costs around $23 today.
What happened before the Fed took over the management of our currency? Well, in the 100 years prior to the Fed’s creation…
The U.S.A. will soon become economic history. The private bank, Federal Reserve, has been priming the pump for hyper-inflation that is soon going to be seen. Our Congress is populated by economic midgets that have no grasp of how economics works. The can has been pushed down the road for so long there is no more road. The Federal Reserve Note will soon be refused by the world community. The US Government cooks the CPI books whenever more than 2% is sen. The real CPI last year has been about 10% yet the US Government claims CPI is 1.8%. What a joke. I assert that the only way the USA will ever recover is that each budget is reduced by a minimum of 5% of the previous years budget. If we spend 5% less in 2014 than we spent in 2013 and 5% less each year for the next 75 years we may see restoration of US Economic prowess. We all know that pigs will fly before our Government ever learns to spend less than revenue. There must be a balanced budget amendment to the US Constitution. We need to institute Senator and Representative term limits. We need to outlaw the Federal Reserve Bank and have only the US Government coin currency and regulate the value thereof.