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An Inauspicious Anniversary

96

{Editor's Note: Today is the 105th "anniversary" of the creation of the US Federal Reserve System. Five years ago on the 100th anniversary, we had the honor of interviewing G. Edward Griffin, author of the seminal book "The Creature From Jekyll Island". The information discussed is even more relevant today than it was then, as the supposedly benevolent and altruistic Fed continues to raise the fed funds rate and contract its balance sheet. To that end, the holiday break would be an excellent time to re-listen to this terrific and tremendously-informative podcast.}

One hundred years ago today, The Federal Reserve System of The United States was born. To "celebrate" this unfortunate anniversary, I invited G. Edward Griffin, author of the book "The Creature from Jekyll Island", to spend some time in Turdville. In a webinar format, Mr. Griffin spoke candidly about his dislike of central banking and he took questions directly from listeners.

In this 50-minute conversation, Mr. Griffin addresses many topics near-and-dear to the hearts of Turdites everywhere, including:

  • Why was the Federal Reserve System created and whom do they serve?
  • Why does The Fed create money and will Quantitative Easing ever stop?
  • Can the process of monetary destruction and devaluation be halted and reversed?
  • Are we inevitably headed toward totalitarianism or is there still time to change direction?
  • What role might alternative currencies such as Bitcoin play in the future?

Many other topics are discussed, too, so please make the time to listen to this entire recording. You will not regret doing so.

Finally, at the end of the webinar, Ed and I ask you for a favor. His longtime assistant, Joan, is struggling with some health issues brought about by her exposure to radiation poisoning some years ago. To help with her struggle, please take the time to visit her website. She's an accomplished artist and, by supporting and purchasing her work, we can all help her in her fight against these diseases. If you're an art lover...or perhaps shopping for one this holiday season...please check out Joan's site and consider making a purchase. Use can use this link: https://pennypup.wix.com/joanhunterart

Thanks for listening!

TF

  96 Comments

phil288
Dec 24, 2018 - 12:53pm

NOVO

Novo is having an epic short squeeze this morning, either that or someone needs in awfully badly. Stock is up 30% ?

chocolatechiphorses
Dec 24, 2018 - 1:50pm

The only problem our economy has is the Fed

The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt!

https://twitter.com/realDonaldTrump/status/1077231267559755776

AGXIIK
Dec 24, 2018 - 2:00pm

WE GOT LUCKY AND NAILED A BUNCH OF BLACK SWANS

Swans make a good meal. They are everywhere. Hanging off the TV antenna, along the roof line, lined up on the power and phone wires.

No bag limit and no license required. All you need is a 22 and plinker ammo

Voila you got a dozen of these fat birds ready for pluckin' and cookin'. We's eating good in the neighborhood.

Black swan gumbo, black swan truffles, black swan etouffee; black swan is the fruit of a STB market.

You can boil it, broil it, stew it, pan fry it, saute it. Swan kabobs, swan soup, swan stew, pineapple swan, swan sandwiches, swan burgers, swan with a side of chicken fried Bubba Mnuchin, Swan n' diced Powell with yam garnish.

You got any good recipes Angry Chef?

Trump's ready to cook it up.

Bon appetit

Cheers

Wake me when DOW hits 14,000

I'm gonna be eating swan until I pass out

MetalustAur
Dec 24, 2018 - 2:04pm

What a day for the stockroaches

With losses that can only be defined as the end of the bull and the beginning of the bear market for the stockroaches marked by a stock market crash with AU and AG soaring it appears Craig was again spot on! Nowhere else can you get a preview of what will happen before it does as clear as the one obtained here at TFMR. Thanks again Craig for taking away the white knuckled second guessing of my sanity for the positions I have taken. My family's Christmas dinner discussion will show this formerly accused to be "Chicken little" thoroughly vindicated, I only wish they had listened to me last year :<(

Merry Christmas and GLTA

NW VIEW
Dec 24, 2018 - 2:51pm

Christmas Eve follow up on Crazy Al:

We met Al almost 50 years ago. He lived across the street and was a continual jokester. I found out later that he did make his high school annul for being the best, nope not for looks or GPA but was voted as "Class Clown". Yep, that is Crazy Al. He has worked hard his entire life, outlived two wives, retired without any company benefits.

Yep, he battled with cancer, and had to spend his fiat to bury his wife. He had three mortgages on his home, trying to keep it, and his SS check just keeps him afloat but without any excess. He applied for a reverse mortgage and I figured they would not give him one, even though he is 78. He did not have any kids but two step kids that never visit him.

He told me this week that he is afraid he may die at home and no person would find him for weeks. Too old to work, cannot walk far, and little hope for his future. This is the hidden people in America. We have them around us everywhere. Blessed is he who sees the need in even a few, doing what he can to make life a bit better for those who have little. Have a wonderful holiday with your family tomorrow. Jim

MrC
Dec 24, 2018 - 3:03pm

while gold keeps creeping up

while gold keeps creeping up at a nice pace silver is stuck in no mans land, what's up with that

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