UPDATE: Congress has added a new mandate to the Fed’s responsibilities. Every Sunday during the NFL season the FED will have control of the official balls for all NFL games because the central bank has proved it will never let anything deflate.
Posts Tagged ‘gold/silver’
Notes From Underground: The IMF’s Role Has Become Too Subjective to be Objective
June 22, 2014One upon a time, the IMF‘s mission was to aid countries suffering balance of payments problems and dealing with the possible credit problems that would arise for over-extended nations. Recently, the Christine Lagarde-led IMF has acted in a more aggressive capacity when it became involved in the bailouts of the debt-plagued European peripheries. The IMF took a proactive stance in becoming one of the troika–ECB, European Commission, IMF–in an effort to stem the stress of Greece, Portugal, Cyprus (and possibly Spain and Italy). The IMF became involved not because Europe was lacking the funds but because the Germans were wavering as to how far the ECB should go in expending capital to bail out the so-called PIIGS. The European elites called upon the IMF to use its funding power to alleviate the pressure from Berlin’s demands that debtors undertake severe austerity in order to resolve the problems of recession and budgetary malfeasance. IMF Director Lagarde was very happy to open the IMF’s treasury to her comrade’s in arm: the European finance ministers. Remember, prior to Lagarde’s position at the IMF, she was the French finance minister.
Notes From Underground: German PMI Was Lower …. Did NSA Have The Number Early?
July 1, 2013It wouldn’t be Notes From Underground if we didn’t ask the most obvious and ridiculous question. It may be the subject of global comedians but the NSA‘s overreach is not a laughing matter for what it really shows is that in the guise of National Security, even a democratic republic leans toward political repression. This is similar to the McCarthyism that grew from what Michael Parenti called “the Anti-Communist Impulse.” Everything becomes an excuse for the government to pry and the danger for all lovers of freedom is that once governments delve into every nook and cranny of life, the end result is always disastrous. It is not about Democrat or Republican for the Democrats will not always be in office.
Notes From Underground: The Markets Are Wrong (Or Draghi Lets Us Know Who Is In Charge)
October 25, 2012Following up last night’s post, Arthur left a note on the blog linking an article from Bloomberg Businessweek, written by Brendan Greeley. The language of the article is crystal clear and provides another example of a Euro policy maker claiming far more insight than the collective wisdom of Mr. Market. “Investors ,he told the Bundestag, are ‘charging interest rates to countries they perceived to be the most vulnerable that [go] beyond levels warranted by economic fundamentals and justified risk premia. This fear is “unfounded. The market is wrong.'”