The Fed is pushing a variety of workarounds that would inject trillions in new money into the economy while bypassing the banking system altogether. Time will tell whether or not this will succeed. Meanwhile, a serious danger lurks around the corner. Once the recession is over, the lending will start again. With fractional-reserve banking and limitless supplies of cash on hand, we will likely see the overall price trends reversed, from deflation to inflation to possible hyperinflation.
Llewellyn RockwellThe state is a vast enterprise for declaring all sorts of things legal for itself that would be illegal for us.
Llewellyn RockwellEverything done by the state is ultimately done by means of aggression, which is to say violence or the threat of violence against the innocent.
Llewellyn RockwellWelcome to the age of paper money, where governments and central banks can manufacture as much money as they want without limit. Gold was the last limit. Its banishment as a standard unleashed the inflation monster and leviathan itself, which has swelled beyond comprehension.
Llewellyn Rockwell