Blogger arrested for telling the truth. Truth is criminal in Orwell's US.
FEDERAL RESERVE:
Quantitative analysis of the inflation we are likely to suffer.
"Specifically, there are currently about $1.2 trillion in "excess reserves" in the banking system. Loosely speaking, the banks have this much money on deposit with the Fed, above and beyond their reserve requirements (needed to "back up" their existing customer checking account balances and the like), and they are free to lend it out to their own customers.Because of the fractional-reserve banking system, the $1.2 trillion in excess reserves could ultimately translate into almost $11 trillion in new money created by the banks, as they pyramid new loans on top of the base money Bernanke has injected. The M1 measure of the money stock is currently $1.9 trillion, meaning that even if the Fed stopped inflating tomorrow, the banking system would have the potential to increase the money stock by a factor of six. Even if the demand for dollars remained constant in such an environment (which it wouldn't), that could mean oil prices above $600 a barrel."Yikes. Basically, if banks start making loans, inflation is going to soar. If Bernanke pays them to not make loans, the economy won't grow. If he sucks up the reserves or increases the reserve requirements, the economy will crash again. Bernanke has screwed us all. And he knows it.
FOREIGN POLICY:
Saudi Arabia, UAE and others send security forces into Bahrain to put down protests.
"An unnamed Saudi security official said the Gulf units dispatched to Bahrain come from a special force within the six-nation Gulf Cooperation Council (GCC).
He did not give details on the size or national breakdown of the force -- estimated in some reports at about 1,000 strong -- but said they will help protect key buildings in the strategic nation, which hosts the U.S. Navy's 5th Fleet. The GCC members are Bahrain, Saudi Arabia, Kuwait, Qatar, Oman, and the United Arab Emirates."
Those protesters are going to be doubly pissed now. It's bad enough they have to fight the criminal organization called their own government, but now they have to fight criminal organizations from other countries.
MISC:
This thing with Ohio State football players and Coach Tressel shows just how criminal and draconian the government-backed NCAA is. I understand why Tressel apologized. He wants to keep his job. But he shouldn't have to apologize for trying to protect his players. And they shouldn't be in trouble for making deals with their own property. And I don't want to hear any crap about "the rules are the rules". If the rules said they have to jump off a bridge, would they have to follow that rule too? The rules are the problem. The rules are acts of aggression against the players, coaches and schools, and thanks to a monopoly grant from the government, these players have no competitive organization to play in.
MISC:
This thing with Ohio State football players and Coach Tressel shows just how criminal and draconian the government-backed NCAA is. I understand why Tressel apologized. He wants to keep his job. But he shouldn't have to apologize for trying to protect his players. And they shouldn't be in trouble for making deals with their own property. And I don't want to hear any crap about "the rules are the rules". If the rules said they have to jump off a bridge, would they have to follow that rule too? The rules are the problem. The rules are acts of aggression against the players, coaches and schools, and thanks to a monopoly grant from the government, these players have no competitive organization to play in.
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