Neo-Marxist Pope Francis As the new year dawns, it seems the current occupant of St. Peter’s Chair will take on a new function which is outside the purview of the office that the Divine Founder of his institution had clearly mandated. Besides being a self proclaimed expert on global warming and a vociferous advocate of … Continue reading Pope Francis Now International Monetary Guru
Former Federal Reserve Chairman Alan Greenspan, who was once laudably referred to as “Maestro” for his supposed astute stewardship of U.S. monetary policy, commented last week on the nation’s current political and economic climate: We’re not in a stable equilibrium. I hope we can all find a way out because this too great a … Continue reading Donald and the “Maestro”
Franklin Delano Roosevelt called the Japanese “surprise” attack on the U.S. occupied territory of Hawaii and its naval base Pearl Harbor, “A Date Which Will Live in Infamy.” Similar words should be used for President Nixon’s draconian decision 45 years ago this month that removed America from the last vestiges of the gold standard. On … Continue reading “A Date Which Will Live in Infamy:” President Nixon’s Decision to Abandon the Gold Standard
Despite trillions of paper currency units poured into the world economies since the start of the financial crisis, there has been no recovery, in fact, all legitimate indicators have shown worsening conditions except, of course, for the pocketbooks of the politically -connected financial elites. Yet, despite the utter failure of the current money and banking … Continue reading Don’t Expect a Return to a Gold Standard Any Time Soon
Last week, an Irish court sentenced three prominent banksters for their roles in the 2008 financial crisis. Judge Martin Nolan, who pronounced judgment, said that the bansksters had committed "a very serious crime." He continued, "The public is entitled to rely on the probity of blue chip firms. If we can't rely on the probity … Continue reading Jailing Banksters Will Not Resolve the Economic Crisis
The dramatic fall in the global price of oil is being cited by the financial press, government officials, and academia as the catalyst for the recent abysmal U.S. economic data which shows that the economy is, in all likelihood, sliding into a recession or worse. While falling oil prices sound like a plausible explanation for … Continue reading Falling Oil Prices Not the Reason for U.S.’s Economic Woes
Despite doubling the national debt and the expansion of the money supply to some $8 trillion since the beginning of Obummer's misbegotten presidency, the U.S. economy is once again in a free fall. Actually, there has been no real recovery, but a continual deterioration of living standards despite the … Continue reading The Deteriorating U.S. Economy
If anyone doubts that the Western world's monetary order is rigged to enrich the banking system, the first quarter financial reports of America's top banks should disabuse any unbelievers. The Financial Times reported that four of the five big U.S. trading banks had a combined revenue of $19.4 billion … Continue reading Big Banks Profit While Main Street Suffers
In recent remarks to the Senate Banking Committee, Federal Reserve Chairwoman Janet Yellen was her typical evasive and non committal self when the topic of interest rate hikes were broached. When the subject of potential oversight of the Fed came up, however, Ms. Yellen became … Continue reading Don’t “Audit the Fed,” Abolish It
There is no bigger misconception held among the financial press and within academia than that of consumer spending. A typical example of this comes from a recent Reuters release entitled: “Strong Consumer Spending, Factory Data Buoy U.S. Growth Outlook.” The first sentence of the article reads, “U.S. consumer spending recorded its largest gain in more … Continue reading The Consumer Spending Myth
Antonius Aquinas 