Asked by fatal-conceit
I am a simple man and like a monetary policy that is tied to hard assets, but seeing as we do not have a free banking system but rather have a Federal Reserve, the nominal GDP targeting seems like a logical approach.
Either way, anything seems better than the gaming we’ve been doing with the Fed over the last decade. I’m tired of watching Washington cook the books to the point of collapse.
Rick Santelli goes into another epic rant about the Fed’s artificial manipulation of the markets. Of course CNBC resident statist reporter Steve Liesman mocks Rick’s theories as never been true…which is convenient considering we’ve seen an unmanipulated Fed yet.
Here’s what Rick is talking about:
You can read more here.
My parents sadly never gave me this talk. I was left without it, unprotected and ripe for abuse. Please, don’t with-hold this information from them. Teach them simple, basic economics, basic Austrian theory, and then begin the “chat” with them. It will save them so much in life.
Don’t let you children suffer ignorance.
Asked by Anonymous
The IRS is an easily abused bureaucratic organization that has not only the power to force you to give up your property, but they can also dig into your private accounts and records when they deem fit.
Centralized banking was something greatly questioned by our founders. England at one point wanted to place the colonies under the monetary control of the Bank of England which is one of the bigger reasons we rebelled at the time. Many founding fathers, like Thomas Jefferson, criticized Alexander Hamilton who later, pretty much, duplicated the Bank of England with the First Bank of the US. We also had some banking problems during the Civil War but the shit really hit the fan when the Progressives took over and created the Federal Reserve…and like most progressive programs, they’re hard to get rid and easily abused.
Not to mention how the Fed is trying to control the market with artificial interest rates and money circulation. It doesn’t need to be this hard, any real economist will tell you that. This is just another form of control.
This guy mixes just the right amount of humor in his economic educational videos to make a subject like unemployment and big government spending actually pleasing to watch.