Sunday, April 22, 2012

Another Great WSJ Opinion Piece - On the Central Bank and Inflation!

Boy! The Fed is living on borrowed time. When we start to get Jim Grant on CNBC plus well-reasoned, Austrian opinion pieces in the WSJ about the unfairness and evil of central banking, you know the day is getting close.

"The Fed, having gone on an unprecedented credit expansion spree, has benefited the recipients who were first in line at the trough: banks (imagine borrowing for free and then buying up assets that you know the Fed is aggressively buying with you) and those favored entities and individuals deemed most creditworthy. Flush with capital, these recipients have proceeded to bid up the prices of assets and resources, while everyone else has watched their purchasing power decline."
Don't forget about well-organized veterans marching in formation, either. I hope Ron Paul can be there to cut the ribbon when they turn the Federal Reserve bank buildings into private offices.

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