Contents Pages by Subject

Federal Reserve

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Michael Shedlock / Mish

They may as well have reaffirmed their belief in the tooth fairy. Paulson reaffirms a commitment to a strong dollar every week without once ever affirming what it would take to change the long term trend.

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Michael Shedlock / Mish

Dare I ask again "what exactly is the plan?" Certainly we have not seen openness or transparency. Instead we have seen lies, deceit, and an alphabet soup of facilities that encourage lies and deceit.

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Newsweek

They ride on Gulfstreams, set the global agenda, and manage the credit crunch in their spare time. They have more in common with each other than their countrymen. Meet the Superclass. To get a sense of how the world's elite acts in a moment of

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Michael Shedlock / Mish

Logically speaking, this proposal would have the Fed guarantee all bank and broker dealer debt simply by touching it. And this is not a "cool idea", it's insanity. The Fed is not King Midas.

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Michael Shedlock / Mish

The government/quasi-government body most responsible for creating this mess (the Fed), will attempt a big power grab, purportedly to fix whatever problems it creates.

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FinancialTimes.com

A medium-run risk – the most important – is of a disorderly flight from dollar assets that makes Federal Reserve monetary policy ineffective, blunting its sword.

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Michael Shedlock / Mish

“The Fed oversaw this meltdown,” said Michael Greenberger, a law professor at the University of Maryland. “This is the equivalent of the builders of the Maginot line giving lessons on defense.”

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by Rick Falkvinge

This is how the US went bankrupt in 1971, and has been covering it up through an accelerating whack-a-mole borrowing frenzy that is bursting right now. It has been paying rapidly growing VISA bills using MasterCard and vice versa for 37 years.

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