Most people know me as the peachy kind of wonderful guy who, when you are piteously beaten down by a cruel and unforgiving world, and you tearfully reach out for a little helping hand, will tell you to quit that whining crap, get your stupid butt up off the ground, and go out to buy more gold, silver and oil to keep from getting destroyed by the coming-and-unstoppable inflation in prices that is caused by the horrifying inflation in the amount of money that the corrupt, intellectual-pygmies at the Federal Reserve are creating to satisfy the outrageous, unbelievable, unthinkable deficit-spending by the despicable, kamikaze-like Marxists in control of the Obama administration and the traitorous Congress (except Ron Paul), as they frantically spend, spend, spend to try, try, try to forestall the disgusting, diseased collapse (“the bust!”) that always, always, always comes after a long, incestuous, bodily-fluid-exchanging, monetary-and-fiscal orgy (“the boom!”) of irresponsible, dimwitted behavior.
[Read more...]Fearing the Elimination of Reserve Requirements
Junior Mogambo Ranger (JMR) Jim L. sent me a link to “Bernanke Wants to Eliminate Reserve Requirements Completely” posted at finance.yahoo.com.
First, starting with the explanation, we learn that “Up until now, the United States has operated under a ‘fractional reserve’ banking system. Banks have always been required to keep a small fraction of the money deposited with them for a reserve, but were allowed to loan out the rest.”
[Read more...]Ballad of a Heartbreaking Money Supply
As much as I scream in Loud Mogambo Outrage (LMO) about the sheer amount of money that is being created that will create horrendous inflation in prices, using whatever data that I can easily get my hands on or, better yet, falling into my lap, or, as a last resort, just making up facts and figures to prove my point, I may, for once in my over-the-top, obnoxious and irritating life (“The Way Of The Mogambo (TWOTM)”), be understating the case! Understating it!
[Read more...]Declining Dollar to the Fed: Et Tu, Bernanke?
Still on the road to moksha…
Prices are rising in India – pushed up by the high cost of food. Thanks partly to a disastrous government policy of encouraging the over-use of chemical fertilizer, food prices are shooting up. In a poor country, food is a bigger part of the family budget than in a rich country. India’s CPI is rising at about 11%.
[Read more...]Private Debt Decline: Good For US Bad for the Economy
I got a disturbing email from Bianco Research which showed a chart of “Private Credit Market Debt” which they say shows “Total credit market creation not including Treasury Debt, Municipal Debt and Agency Debt”.
It is actually a horror that the level of private debt peaked last year at about $36 trillion, which is certainly a lot of money, especially since total GDP of the Whole Freaking Country (WFC) is only $14 trillion (and falling!).
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Alan Greenspan and the Ruination of the US Financial System
The Financial Times had the article “Greenspan Mauled Over Role In Meltdown”, which was about that loathsome, worthless lunatic Alan Greenspan testifying at the Financial Crisis Inquiry Commission, which is enough to make you laugh in itself; the morons who perpetrated constant deficit-spending are facing off with the guy who provided the money and credit with insane levels of monetary inflation to make it happen! Hahahaha!
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