Daily Archive: Monday, January 3, 2011

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 with this. Nor are there any critics in the media I’ve seen ...Read More


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. * Prices paid remains elevated but appears of little consequence for inflation; ...Read More