Ben Bernanke has said that the Fed is trying to promote inflation, increase lending, reduce unemployment, and stimulate the economy.However, the Fed has arguably – to some extent – been working against all of these goals.For example, as I reported in …
Posts Tagged ‘federal reserve banks’
The Fed Is Responsible for the Crash in the Money Multiplier … And the Failure of the Economy to Recover
March 16th, 2010 |
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Greg Mankiw noted in January 2009:Econ prof Bill Seyfried of Rollins College emails me:Here’s an interesting fact that you may not have seen yet. The M1 money multiplier just slipped below 1. So each $1 increase in reserves (monetary base) results in t…
Military Spending is INCREASING Unemployment and REDUCING Economic Growth
November 11th, 2009 |
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I have written extensively on the fact that this is not a normal cyclical recession, and we’re not in the type of “jobless recovery” which we’ve had a couple of times in the last 50 years. Unemployment will continue rising in America for some time, wh…
The Banks Own the Fed, and the Central Banks Own BIS
August 6th, 2009 |
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You know that the 12 Federal Reserve Banks are owned by private banksters.And you’ve heard of the Bank of International Settlements (BIS), which is the “Central Banks’ Central Bank”.But you probably don’t know who owns BIS or how it is regulated.Spiege…
Leading Journalist Confirms that Government Could Take Over the Power of Money-Creation for the Public Good
July 20th, 2009 |
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William Greider is a former Washington Post and Rolling Stone editor, and now writes for the Nation. Greider has written numerous books and articles on the economy over the course of many decades, including the leading book on the Federal Reserve, Secr…
The Fed’s “Independence” Argument is False
July 10th, 2009 |
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The Fed’s main argument against an audit by Congress is that it would interfere with the Fed’s “independence”.For example, in his Congressional testimony yesterday – entitled “Federal Reserve independence” – the vice chair of the Fed used the “i” word …