On 9 December 2009 Representative Ron Paul introduced H.R. 4248 the Free Competition in Currency Act of 2009.  This Act has the potential to impact the investment world more than any other legislation that has been enacted for decades.  The impact on the bond market, Treasury market, stock market and general economy would be tremendous [...]

1. The interest rate is a price – the price of credit like the price of any good.  In a free market the price would be set like the price of any good at the intersection of the supply of funds (our savings), and demand for funds (businesses’ and individuals’ investing [...]

The Federal Reserve paid a record $46.1 billion to the U.S. Treasury in 2009 increasing by $14.4 billion its 2008 payment. It was the largest payment since the central bank was created in 1914. Its total 2009 net income of $52.1 billion also was a record.
“This is a silver lining in that big cloud of [...]

 On Wednesday, the Federal Reserve underscored that the U.S. economy is picking up steam but reassured observers that inflation is in check that that it will keep short-term interest rates near zero for an “extended period.”
In their statement after the meeting, the members concluded that the US economy has continued to “pick up,” that declines [...]

On Wednesday the Fed released its summary of comments received from its 12 regional districts in the November time-frame. The notes represent a collection of comments from businesses and other contacts outside the Federal Reserve and does not necessarily represent the views of Federal Reserve officials.
The regional reports indicate that economic conditions continue to improve [...]

President Barack Obama’s success as reflected in the recent gubernatorial races appears ever more staked on the state of the economy. Unemployment recently reached 10.2%, though the more honest measure of U-6 shows the nation running unemployment at a Depression-like 17.5%. In response to these numbers, Barack Obama has said that “I will not rest [...]

I should immediately reassure my readers that I am not going to re-account or even continue Macro Man’s story of 2007 in which Sherlock Holmes was looking for a vanishing bid in risky assets. Also, I am not sure that we are actually looking at a bid which will vanish but one which will perhaps [...]

If you want to know what kind of monetary morons we have in charge of the Federal Reserve, then you have come to the right place, because a record of sorts was set last week, in that the loathsome, disastrous Federal Reserve bought up – in the last 12 short months – $1.011 trillion in [...]

In another episode where the comics page eerily mirrors real life, a recent “Garfield” cartoon has Garfield confronting a resident rat who has been taking cheese, but leaving IOUs, from the “cheese drawer” of the refrigerator. Garfield threateningly says to the rat “Stop with the IOUs” and the rat calmly holds up his hand in [...]

Friday 25 September 2009 had two significant events.  First, there was a full committee hearing on Ron Paul’s bill H.R. 1207 to audit the Federal Reserve.  Second, Chief Judge Edith Jones of the United States Court of Appeals for the Fifth Circuit, directly under the United States Supreme Court and covers Florida, Georgia, Alabama, Mississippi, [...]