Tuesday, October 22, 2013

The Economy in Pictures, Mostly

Excellent link showing that QE is essentially responsible for everything occurring in financial markets. http://www.zerohedge.com/news/2013-10-22/spot-odd-one-out

Here's one from Doug Ross, saw it posted over at Asylum Watch too- I believe.

I nabbed this from Zerohedge since we are coming up on the 100th year anniversary of the greatest fraud ever foisted upon the American people- the Federal Reserve Bank.

Submitted by Simon Black of Sovereign Man blog,
As we’re coming up on the 100th anniversary of the establishment of Federal Reserve, one thing has become abundantly clear– these guys are horrible at their jobs.
According to the popular lie, the Federal Reserve was supposed to have been established to smooth out the economic cycle, thus preventing booms, busts, recessions, and depressions.
It hasn’t really worked out that way.
In the 100 years prior to the establishment of the Federal Reserve, there were 18 distinct recessions or depressions:
1815, 1822, 1825, 1828, 1833, 1836, 1839, 1845, 1847, 1853, 1860, 1865, 1869, 1873, 1887, 1890, 1899, and 1902.
Since the establishment of the Federal Reserve, there have been 18 recessions or depressions:
1918, 1920, 1923, 1926, 1929, 1937, 1945, 1949, 1953, 1958, 1960, 1969, 1973, 1980, 1981, 1990, 2001, 2008.
So in other words, the economy experienced just as many recessions with the ‘expert’ management of the Federal Reserve as without it.
And this doesn’t even begin to capture all the absurd panics (the S&L scare), bailouts (Long-Term Capital Management), and ridiculous asset bubbles that they’ve created.
Hardly an impressive enough track record to justify conjuring trillions of dollars out of thin air, and awarding nearly totalitarian control of the money supply and economy to a tiny banking elite… wouldn’t you say? 


Anonymous said...

The creation of the FED may be regarded as the greatest fraud perpetrated upon the American people, but the second greatest fraud occurred just a few days ago on October the 17th: the elimination, for all intents and purposes, of the debt ceiling. Those trillion dollar per year deficits to which we have become accustomed will soon be looked upon as sound fiscal policy compared to what's coming next. This will not end well.

Jim at Asylum Watch said...

This fiat money party can't last much longer, can it? Of course I've been saying that for years.