11
Sep

The Dollar Has Not Crashed Like Gold Bulls Thought It Would

It is easy to convince people of all the problems with the U.S. economy. We do have over $17.7 Trillion of national debt and a Federal Reserve with a suspect balance sheet compared to its pre-2008 financial crisis balance sheet. We also have budget deficits for the next decade to deal with and unfunded liabilities in the 10’s of trillions. …

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16
Oct

The Federal Reserve – Lender and Buyer of Last Resort

Can the Federal Reserve save the U.S. economy from failure? Is this their mandate? When you research “lender of last resort (LLR),” which is what the Fed is supposed to be, you mostly find the source to be Walter Bagehot’s Lender of Last Resort Doctrine.  This doctrine came about from Bagehot’s book, Lombard Street: A Description of the Money Market. Hartley Withers, in …

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25
Mar

The Lender of Last Resort Isn’t the Fed or ECB, It’s YOU!

Banks always are bailed out by the government or the Fed and in Europe’s case, the equivalent of the Fed, the European Central Bank (ECB). The ECB is who is keeping Portugal’s banks afloat. But it’s also the IMF who likes to stick their greedy fingers into the pie, just as they have in many other countries, like Jamaica for …

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