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Trump Is Right: The Federal Reserve Is Crazy And Here Are 101 Reasons Why It Should Be Shut Down

October 12, 2018

Trump Is Right: The Federal Reserve Is Crazy And Here Are 101 Reasons Why It Should Be Shut Down

Donald Trump just made one of the most brilliant moves of his entire presidency.  By accusing the Federal Reserve of “going loco”, he is placing the blame for the coming stock market crash and horrifying economic downturn squarely where it belongs, and he is firing up millions of true conservatives among his base at the same time.  For many, many years, a lot of us have been trying to educate the American people about the deeply insidious Federal Reserve system.  As Ron Paul once so astutely observed, it is actually about as “federal” as Federal Express is.  The Federal Reserve is an unelected cabal of central bankers that is running our economy into the ground, and the only way we are going to fix our long-term economic and financial problems is if we abolish it.  So for those of us that understand these things, it is extremely exciting to hear President Trump use language such as this…

President Donald Trump knocked the Federal Reserve for continuing to raise interest rates despite some recent market turbulence.

“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.

That may be one of the greatest things that Donald Trump has ever said.

And if Trump feels like his base is really responding to this sort of rhetoric, he may start using it as a campaign tactic.

Could you imagine thousands upon thousands of supporters chanting “End the Fed” at Trump rallies leading up to the 2020 election?

That would definitely be a beautiful thing.

…click on the above link to read the rest of the article…

Advantage U.S. In The Global Petroleum Showdown?

April 4, 2016

Advantage U.S. In The Global Petroleum Showdown?

Is the crude stock data in the EIA’s Weekly Petroleum Status Report (Table 1 in the report) a useful tool for judging the prospects for the U.S. petroleum industry— and therefore for the global petroleum industry—or is it misleading?

With few interruptions, U.S. crude stocks increased steadily during 2015 and have continued this trend in 2016. According to weekly EIA data, average commercial crude stocks levels were 7.82 percent higher on average in March than on average in January 2016, and 13.16 percent higher than in 2015 in the week ending January 2, 2015:

With the Weekly Petroleum Status Report’s publication each Wednesday, these steady increases reinforce skepticism on the potential for balanced crude supply and demand and therefore for higher crude prices domestically and internationally. Last week, when the EIA on March 23 reported a 9.3 million barrel build in U.S. commercial crude stocks—around the same time several Federal Reserve officials were suggesting a faster pace for interest rate hikes—WTI and Brent prices fell and continued to fall in the following days.

This week, after the EIA on March 30 reported a smaller build (2.3 million barrels), prices fluctuated, both up and down, despite encouraging words from Fed Chair Yellen on the pace of interest rate hikes in a speech the previous day (of course, other factors, such as OPEC member pronouncements on output policy, influence prices).

Sources of Increasing Crude Stocks

The impetus for gains in crude stocks through March 2016 comes from imports (capacity utilization increased to 88.88 percent from 88.33 percent in the corresponding 2015 period). Average daily crude imports have surged, increasing over 10 percent in January and February compared to 2015’s average daily imports in those months, and 8.63 percent cumulatively year-to-date through March 25:

…click on the above link to read the rest of the article…

Donald Trump Is Right – Here Are 100 Reasons Why We Need To Audit The Federal Reserve

February 24, 2016

Donald Trump Is Right – Here Are 100 Reasons Why We Need To Audit The Federal Reserve

Donald Trump - Photo by Marc NozellWhen one of our major politicians gets something exactly right, we should applaud them for it.  In this case, Donald Trump’s call to audit the Federal Reserve is dead on correct.  Most Americans don’t realize this, but the Federal Reserve has far more power over the economy than anyone else does – including Barack Obama.  Financial markets all over the planet gyrate wildly at the smallest comment from Fed officials, and virtually every boom and bust cycle over the past 100 years can be traced directly back to specific decisions made by the Federal Reserve.  We get all excited about what various presidential candidates say that they “will do for the economy”, but in the end it is the Fed that is holding all of the cards.  The funny thing is that the Federal Reserve is not even part of the federal government.  It is an independent private central bank that was designed by very powerful Wall Street interests a little over 100 years ago.  It is at the heart of the debt-based financial system which is eating away at America like cancer, and it has no direct accountability to the American people whatsoever.

The Fed has been around for so long that most people assume that we need it.

But the truth is that we don’t actually need the Federal Reserve.  In fact, the greatest period of economic growth in United States history happened during the decades before the Federal Reserve was created.

A little over 100 years ago, very powerful forces on Wall Street successfully pushed for the creation of an immensely powerful central bank, and since that time the value of the U.S. dollar has fallen by about 98 percent and our national debt has gotten more than 5000 times larger.

…click on the above link to read the rest of the article…

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