Generally a good explanation, but a few mistakes. The interest on the government debt purchased by the Fed is paid back to the treasury, for example. But most of this is accurate. The Fed is not a private institution. GE and Apple are private. Technically the Fed has shares issued to other banks, but that doesn’t make it “private.” The Fed’s Board of Governors is a federal agency. The member banks are granted membership under that agency. That is the source of their monopoly power. Congress (supposedly representing the people) can get rid of the Fed with a stroke of a pen. Wilson said in 1917 that the Fed was the worst mistake he ever made because it put a lot of power in the hands of a few rich families. It was a deplorable exercise in extra-Constitutional excess. He had no right to create the Fed and give it the power to print money. If the central banks were truly private (not protected by law / regulation), then they would have competition. Others would have the right to print money (and we would not accept paper money with no value, so the free markets would choose the appropriate medium of exchange). The central banks are protected by the government (and subsidized by the tax payers) and have huge power granted to them by the governments. The government controls the coinage so it can tax everyone. It's all about control. The state is no worse the the mob. The state rules by violence/force. And if you don't believe this, then try not paying your income tax for a few years and watch what happens - they throw you in jail. No corporation or bank has that power. Banks and the Fed are not to blame. Blame the people who created the laws/regulation that gave the Fed it's monopoly power. So many people don't understand fractional reserve banking and the Fed. Anywhere there is a major problem in banking, healthcare or education, you can find the government behind the problem. There is no such thing as a natural monopoly. All monopolies are created by the government directly or indirectly. The Fed is one of the worst monopolies of all
EVERY YOUNG ADULT SHOULD BE TAUGHT THIS:Instead students are taught by Bill Ayers clones.
EGADS! THE LAW PROFESSOR SPEAKS:Speaks with forked tongue, may be more like it. Sheer hypocrisy.
LENGTHY ARTICLE ON CAGW CONTROVERSY:At a minimum skepticism is recommended on the subject. Proof is not in yet that it actually exist.
EXCELLENT ARTICLE ON CRIME:From the always reliably insightful City Journal.
DARTMOUTH AND THE IVIES SOLDIER ON:Cross this one off the list.
WHY TRUMP WON:Beginning of major change is the answer.
AYAAN HIRSI ALI:An explanation of DAWA and the Muslim objectives in US and Europe.It's all invidious and supremely dangerous if left unchecked. Karl Popper, author of the Open Society, is her inspiration for dealing with Islamism. He said:Popper writing in 1945: “If we extend unlimited tolerance even to those who are intolerant, if we are not prepared to defend a tolerant society against the onslaught of the intolerant, then the tolerant will be destroyed, and tolerance with them.” HERE is what touched off the discussion of DAWA.
STEVEN HAYWARD REVIEWS FDR AND RR COMPARISON:Mostly comports with Folsom, Powell, Schlaes analysis.Admittedly FDR is a complex study. But what goes unmentioned is the duration of the GD and the incredible roadblocks put in the way of a recovery by FDR and his Brain Trust of Harvard professors.
BEWARE PUBLIC SCHOOLS:Cesspits of Communism, especially on the West Coast.
CHARLOTTSVILLE EXPLAINED:It's about this simple.
GOOD LORD!:Corruption, corruption, liars and fools. These people have no shame and what's worse there are people (voters) out there who don't either. These so-called reporters are simply news-credentialed members of the Democrat Party with bi-lines provided by fake news organizations. What's worse, they're all getting wealthy off this scam. Disgraceful at a minimum.
THE DAY IS COMING WHEN YOU MIGHT SAY WHY DIDN'T I DO SOMETHING TO PROTECT AGAINST THIS PICTURE.:
Meanwhile, the engine of real income/wealth expansion, productivity, has faltered:
