Category Archives: Federal Reserve Bank

The “Don’t Tread On Me” Tradition Is Back!

Federal Reserve Bank, Liberty, Neoconservatism, Old Right, Political Philosophy, Republicans, Ron Paul, Taxation, Terrorism, War

Or so says Richard Spencer, editor of Taki’s Magazine, in the fabulous article: “Are the Tea Parties Radical and Paranoid Enough?”

In the tea party protest Spencer attended he saw ample signs of the Old Right rising. This recrudescence took the form of fewer “bloviations about the war on terror,” and more “Abolish the Federal Reserve!” and “Republicans + Democrats = National-Socialism” signs. “[O]nly two or three blue-blazer-and-kakis Frumbots” loitered around aimlessly.

Sweet.

Writes Richard: “There’s no question that the Republicans would love to co-opt the Tea Party movement to strengthen their prospects in 2010, but my sense last night was that the ‘Don’t Tread on Me’ crowd might be a bit too radical to be neutralized and Republicanized easily.”

Read the rest on Taki’s.

The Death Of The Mighty Dollar

China, Economy, Federal Reserve Bank, Foreign Policy, Individual Rights, Inflation

The trashing of the dollar by Bush/Barack is worrying those to whom we’ve been exporting our inflation. The US’s relationship with China is another fiasco. We’ve relied on that country to finance our debt, but kept up the sanctimonious preaching. (Search BAB’s “China” archive for details.)

How do you like that for hypocrisy, to say nothing of a performative contradiction? Preaching about human rights and individual rights while simultaneously fleecing your own people without flinching!

The patient Asians took what we dished, but now, they’re getting nervous about their finances.

From the FT.com:

China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.

In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”.

Analysts said the proposal was an indication of Beijing’s fears that actions being taken to save the domestic US economy would have a negative impact on China.

“This is a clear sign that China, as the largest holder of US dollar financial assets, is concerned about the potential inflationary risk of the US Federal Reserve printing money,” said Qu Hongbin, chief China economist for HSBC.

Although Mr Zhou did not mention the US dollar, the essay gave a pointed critique of the current dollar-dominated monetary system.

Poisonous Pundits Never Go Away

America, Economy, Elections 2008, Federal Reserve Bank, Inflation, Journalism, Media, Political Economy

Just a few months back, during the Bush era, high-ranking commentators like Larry Kudlow and proxies were touting the strength of the US stock market. Stocks were undervalued. The economy was “strongly reaccelerating.” “Goldilocks, Goldilocks,” Kudlow would crow from the CNBC rooftop. (What on earth does than mean?)

Kudlow and Company could not say enough about the economic benefits of a depreciating dollar. A weak dollar was an asymptomatic blessing, helping to make “US assets very cheap,” and thus ameliorating the trade imbalance. Never mind that it has made Americans poorer.

That was the man and his entourage’s cri de coeur.

“Today’s economic weakness is coming from the business side, not the sub-prime/housing/consumer side,” Kudlow wrote in January 2008.

Back then, Kudlow called for cheaper money and more credit: “the Fed needs to deliver a 50 basis point rate cut at its January 30 meeting. A big-bang rate cut would help businesses, consumers, and mortgage owners. It would make the cost of money cheaper and expand the overall liquidity base of the economy. … Inflation is the most overrated issue out there,” Kudlow asserted.

Kudlow failed to see that government had set the scene for the “minority Meltdown.”

Another snake-oil merchant is Stephen Moore of the Wall Street Journal. He wrote a book praising Bush’s quicksand society. It was titled “Bullish on Bush: How the Ownership Society Is Making America Richer.” Fox New’s Greta Van Susteren has seen fit to make the man who praised the state’s house-for-every-Hispanic schemes an authority on our economic woes.

Like Kudlow, Moore’s congenital inability to call the situation has not dented his career.

Now Kudlow has switched, conveniently, cribbing Peter Schiff’s analysis and pretending he was capable of the same prophetic predictions.

Why does he retain his job?

If you don’t believe me, check out the manner in which Schiff was maligned in 2007 by Kudlow’s crowd as another “Michael Moore,” for forewarning about the consequences of the US’s consumption and credit-based economy.

Missouri State: Beware Of People Like … Mercer

Constitution, Federal Reserve Bank, Federalism, Founding Fathers, History, Ilana Mercer, libertarianism, Liberty

According to a “secret Missouri State police report,” I could be a militia mama. The potentially incriminating signs:

• I have A Ron Paul sticker on my car.

• The “Don’t Tread On Me” Flag snakes all across the front page of my website (in an original, copyrighted configuration), where my “subversive” work is archived. It makes an appearance on every other page.

• The late Aaron Russo of blessed memory, director of “America: Freedom to Fascism,” endorsed my book (scroll down.) “AARON RUSSO: A CHOICE NOT AN ECHO” doesn’t leave much to the Missouri State police’s imagination.

• I oppose “confiscatory taxation” (“Sixteen The Number Of The Beast”).

• Ditto the increasing expansion of the Federal Frankenstein.

There are other telltale signs I exhibit, but you get the gist.

Thanks to a “a concerned Missouri state policeman, a nationally syndicated radio talk show host was alerted” to this outrage, writes Chuck Baldwin, for VDARE.Com. The officer realized it described … him.

When [our heroic officer] Neal read the report, he couldn’t help but think it described him. A military veteran and a delegate to the 2008 Missouri Republican state convention, he didn’t appreciate being lumped in with groups like the Neo-Nazis.

I was going down the list and thinking, “Check, that’s me,”‘ he said. ‘I’m a Ron Paul supporter, check. I talk about the North American union, check. I’ve got the “America: Freedom to Fascism” video loaned out to somebody right now. So that means I’m a domestic terrorist? Because I’ve got a video about the Federal Reserve?

I have news for all of the Missouri State Mother F … s coming after us patriots:

Adjusted for age and era, the description fits the Founding Fathers. Read “Vox Populi,” and see for yourselves.