Full Hearing Video - Part I
Part II below:
Category Archives: Economy
DAILYPAUL: The illustrated history of you being screwed by people like Ben Bernanke
In response to the DailyKOS thread.
The thing to notice is the difference between productivity and wages as the money supply increases more rapidly.
The Mother Of All Infographics: Visualizing America’s Derivatives Universe
If you ever wanted a tool to help yourself or others visualize the staggering magnitude of US debt and derivatives, this is a good one to share.
Derivatives Visual:
http://demonocracy.info/infographics/usa/derivatives/bank_ex...
US Debt Visual:
http://demonocracy.info/infographics/usa/us_debt/us_debt.html
Related ZeroHedge Article:
http://www.zerohedge.com/news/mother-all-infographics-visual...
I'm not an economist, but even a layman can see that this doesn't look like it is going to end well.
Forbes.com 4/20 Stirring the Pot:, Could Legalizing Marijuana Save The Economy?
On April 2, One L. Goh allegedly went on a shooting spree inside Oikos University in Oakland, California, killing seven students. That same day, federal agents were otherwise occupied, raiding a business less than a half a mile away. That business, Oaksterdam University, is a medical marijuana training school in a location where it is considered legal for state and local purposes.
http://www.forbes.com/sites/kellyphillipserb/2012/04/20/stir...
High Taxes Cause More Americans to Renounce Citizenship
[CNBC] - A year ago, in Action Comics, Superman declared plans to renounce his U.S. citizenship.
"'Truth, justice, and the American way' — it's not enough anymore," the comic book superhero said, after both the Iranian and American governments criticized him for joining a peaceful anti-government protest in Tehran.
Last year, almost 1,800 people followed Superman's lead, renouncing their U.S. citizenship or handing in their Green Cards. That's a record number since the Internal Revenue Service began publishing a list of those who renounced in 1998. It's also almost eight times more than the number of citizens who renounced in 2008, and more than the total for 2007, 2008 and 2009 combined.
But not everyone's motivations are as lofty as Superman's. Many say they parted ways with America for tax reasons.
More at: CNBC
Another story at: Reuters
John Stossel Speaks to Former Federal Reserve Employee
Stossel discusses competing currencies and central planning with a former Federal Reserve employee.
Number of people NOT in the labor force approaches 88 million
The unemployment rate drops to 8.2% for one simple reason: the number of people not in the labor force is back to all time highs: 87,897,000.
http://www.zerohedge.com/news/nfp-big-miss-120k-expectations...
Global Monetary Reform: BRICS Say "Bye, Bye" To US Dollar,
Global Monetary Reform: BRICS Say "Bye, Bye" To US Dollar,
WSJ: Fed Buying 61% of US Debt
The Federal Reserve is propping up the entire U.S. economy by buying 61 percent of the government debt issued by the Treasury Department, a trend that cannot last, Lawrence Goodman, a former Treasury official and current president of the Center for Financial Stability, writes in a Wall Street Journal opinion article published Wednesday.
Read more:
http://www.moneynews.com/Headline/fed-debt-Treasury/2012/03/...
The WSJ Op Ed in Question: Demand for U.S. Debt Is Not Limitless
By Lawrence Goodman | WSJ.com
The conventional wisdom that nearly infinite demand exists for U.S. Treasury debt is flawed and especially dangerous at a time of record U.S. sovereign debt issuance.
The recently released Federal Reserve Flow of Funds report for all of 2011 reveals that Federal Reserve purchases of Treasury debt mask reduced demand for U.S. sovereign obligations. Last year the Fed purchased a stunning 61% of the total net Treasury issuance, up from negligible amounts prior to the 2008 financial crisis. This not only creates the false appearance of limitless demand for U.S. debt but also blunts any sense of urgency to reduce supersized budget deficits.
Still, the outdated notion of never-ending buyers for U.S. debt is perpetuated by many. For instance, in recent testimony before the Senate Budget Committee, former Federal Reserve Board Vice Chairman Alan Blinder said, "If you look at the markets, they're practically falling over themselves to lend money to the federal government." Sadly, that's no longer accurate.
Continue at WSJ.com