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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

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Key Economic Events Week of 11/21

11/21 8:30 ET Chicago Fed
11/21 1:00 ET Goon Daly
11/22 11:00 ET Goon Mester
11/22 2:45 ET Goon Bullard
11/23 8:30 ET Durable Goods
11/23 9:45 ET Flash PMIs November
11/23 10:00 ET UMich sentiment
11/23 2:00 ET November FOMC minutes
11/24 US Markets closed
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