In last weekend’s WSJ, Jim Grant penned perhaps the most scathing indictment of both the Federal Reserve and central banking as a whole.
Bravo Jim and might I add: heroic.
Source link: http://archive.mises.org/9140/pumping-the-flu-suffering-patient-with-mercury/
Pumping the flu-suffering patient with mercury
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Very well written indeed. Chance of getting heard?
Near zero
Great article. I wish I could be that eloquent when I’m ranting about this subject to friends and family.
Jim Grant points us to the Fed’s weekly H4.1 report to witness the explosion of the Fed’s balance sheet. The numbers are indeed amazing, but here is a simple statistic:
In December of 2007, the “Factors Affecting Reserve Balances” report covered four PDF pages.
In the latest release, December 18, 2008, the PDF has exploded to ten pages.
Explains it all for me.
A very well written article that deserves a wide readership. Very demoralizing, however, to continually read articles that show how we are needlessly creating our own “Lost Generation.”
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