Even Establishment Economists See The Bank Run Coming…

I’ve said it, and you don’t listen to me… so how about when a former Harvard economics professor says it, on PBS? Before I explain, let me disclose that I have been a stopped clock of criticism of the Federal Reserve for half a decade. That’s because I believe that when the Fed intervenes in markets, it has two effects — both negative. First, it decreases overall wealth by distorting markets and causing bad investment decisions. Second, the members of the Fed become reverse Robin Hoods as Read more […]

FlEA Party v. Banksters; We’ve Been FLEECED ENOUGH ALREADY

Overpaid banking executives need to keep the pay coming in, so… now they’re saying not only won’t you earn any interest on what you deposit, but… they’ll very possibly start charging you to keep your money. Executives at two of the top five US banks said a cut in the 0.25 per cent rate of interest on the $2.4tn in reserves they hold at the Fed would lead them to pass on the cost to depositors. Banks say they may have to charge because taking in deposits is not free: they have to pay premiums Read more […]