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federal reserve

Thank You Janet Yellen: New Fed Regs Mean Negative Interest On Bank Deposits

    Remember when we used to earn interest on our bank accounts? Ben Bernanke put a stop to that by printing money like it was going out of style. And now Janet Yellen is one-upping him. Forget zero interest, welcome to negative interest. New Obama Administration reserve rules mean you’ll have to pay the bank to store your money. As the WSJ reports, far from paying for the privilege of holding other people’s cash (and why would they with nearly $3 trillion in positive carry excess reserves sloshing around) US banks – primarily of the TBTF variety – “are […]

“Punishment Interest”: A Sign Of The Times

  Because there will be no shortage of bloggers talking about the mid-term elections today, Asylum Watch will offer up some other insanity, about which you need to aware. The doldrums of the Great Recession are still with us nearly five years after we were told the economy had returned to recovery mode. The Federal Reserve takes credit for saving the US economy from a total economic collapse. Apparently, the nearly $800 billion the taxpayers ponied up to bailout various banks and financial institutions (TARP) and another $800 billion you ponied up for President Obama’s “stimulus plan” was just so […]

Somebody Is Going To Have To Pay For This!

  The title of today’s post is a refrain we’ve all heard countless times in one context or another. When that context pits the government or a pseudo-government agency like the Federal Reserve against you, the taxpayer, the ‘somebody” that pays is always you. If this story run by the Wall Street Examiner doesn’t make you mad as hell, something is seriously wrong with you. I highly recommend you read this article, but for let me summarize it for you. First, as you know, the federal government pays the Federal Reserve, with your tax dollars, for all those Federal Reserve […]

Does the truth matter anymore? Does voting matter anymore?

  This humble observer of the asylum we all have to live in believes the answer to both questions is no. The percentage of people, who care enough to seek the truth or who will accept the truth and act on it when exposed to it, is too small. The percentage of people who take their responsibility as voter seriously is, also, too small. And sadly, this has been true for a very long time. Here are a few examples of truth that is leaking out that shake this country to its core and bring on immediate change. It won’t […]

Stop Hoarding Your Money!! And While You’re At It, Get Rich, Would Ya?

The economy isn’t growing because you’re hoarding money. Also, if you had any brains you’d get rich. That’s what the Federal Reserve thinks of you folks not living on Wall Street. The Great Facilitator of big government Federal Reserve is finally having to admit that, after six years of printing trillions of dollars and giving essentially free to the too big to fail or trust banks on Wall Street, their Quantitative Easing and Zero Interest Rate Policy program has failed to stimulate the economy and put people back to work (it did do fantastic job, however,  of making the rich much richer). […]

Are The Central Bankers Planning To Try A Controlled Collapse?

This Zero Hedge article suggests that the central bankers are, at least, talking about the idea of a controlled financial collapse. The article includes this quote from the recent annual report of the Bank for International Settlements (BIS); aka, the bank of the central banks. The risk of normalizing too late and too gradually should not be underestimated… The trade-off is now between the risk of bringing forward the downward leg of the cycle and that of suffering a bigger bust later on . Few are ready to curb financial booms that make everyone feel illusively richer. Or to hold back on quick […]

Leftwaaard..Maaaarch! Left….Left…Left…

While we on the Right have been enjoying some well deserved Schadenfreude at the expense of President Obama and the Democrats over the diasterous rollout of Obamacare, with some of our pundits going so far as to claim that the public’s awakening due to Obamacare will be the end of liberalism in America, the Left has been planning their counter attack. Rather than concede that Obama’s program to provide health insurance to everyone, including those with preexisting conditions, was too big of a move to the Left, the left Left-wing of the Democratic Party is looking at Barack Obama and […]

What Recovery? Part I: Velocity of Money

The recession officially ended in 2009. Government reports tell us that the United States has been in recovery for four years now. The vast majority of Americans don’t feel as if they experienced any recovery. Is it because the rate of economic growth has been the slowest in US history? Shouldn’t the average American feel some benefit from an average GDP growth of 2%? Unemployment is the same today as it was in 2009. Why? The Federal Reserve  has used a policy called Quantitative Easing to pump trillions of dollars into the economy over those four years.  At the same […]

Money For Nothing

“The common denominator to all of history is that all governments almost universally act irresponsibly to debase their currency.” — Robert T. Lutts “The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.” — Alan Greenspan Ah, the coin of the Realm … t’was a time when our specie was fashioned of precious metals — silver, gold even — back before America’s elected larcenists decided to mint money from materials with the same intrinsic worth as a Tijuana bus token.  Debasing the currency, […]

Arthur Laffer: Economic Statistics, Some Matter and Some Are Deceiving

At Real Clear Politics the other day, I came across an article by economist, Arthur Laffer in theWall Street Journal. the same Arthur Laffer whom developed the Laffer Curve during the Reagan administration. As I often do, I scanned the article and bookmarked it as a possible source for a post. Then this morning I had an e-mail in my in-box from Pat Slattery of The Free Market Projectsuggesting that I consider doing a post on an article by John Hayward about the Laffer article. And, I thank him. So, I will discuss both the Laffer and Hayward articles in today’s post on economic […]

Raising Cain: Political Outsider, or Federal Reserve Apologist?

In response to my post last week, Raising Cain: Wins SC Debate, some of the comments revealed information that I had not known.  Apparently, not only did Herman Cain serve as the chairman the Federal Reserve Bank of Kansas City, he has dismissed demands to audit the source of our funny money.  I will openly admit that I had not done my homework, however, I can correct that oversight now.  For starters, here is some audio from Mr. Cain… That was posted on 1-8-11.  The next video was posted on 1-27-11… I think people will have to listen to both […]

Steve Brenan Dislikes America, or So I Imagine He Does

Steve Brenan of the Washington Monthly (which I found via memeorandum) begins his blog post ‘None Dare Call it Sabotage’ this way… Consider a thought experiment. Imagine you actively disliked the United States, and wanted to deliberately undermine its economy. What kind of positions would you take to do the most damage? Let’s play the game! Close your eyes and take a minute to think about the policies you would put in place if you disliked America- the kind that would really do the most damage. What did you come up with? In my mind, those positions that you would […]