Daily Archives: January 3, 2011 @ 12:55 pm (Monday)

AMI Perpetrated Innocent Fraud

For all practical purposes, fractional reserve banking ended in 1934 when we went off the gold standard. Today’s banking is not reserve constrained. At best, this is a case of innocent fraud. Telling that Kucinich was convinced to go along … Continue reading

Posted in Email |

ISM-Strong

Karim writes: * Headline came in as expected, but details strong. * Gap between new orders and inventories (which declined sharply for both suppliers and customers) at highest since May 2010. * Employment down modestly but still at high level. … Continue reading

Posted in Karim |