Ron Paul, one of the most vocal opponents of the monopoly the Federal reserve has in the United States, has just been appointed to the head of the Federal Reserve oversight committee. He’s been denied the position twice before, most likely because he’s been itching to audit the Federal Reserve and finally make the Fed accountable. Well, today Ron Paul finally got the job, which is a good thing as far as I’m concerned. Ron’s been a long time advocate for abolishing the Federal Reserve completely (he wrote the popular book, “End The Fed”). The Federal Reserve has contributed to the ...

In times like this, I hate being right. I met with a few financial people Friday afternoon at their offices in Abbotsford. As I was leaving, I casually asked everyone who worked there what they thought about the recent run of gold. Surprisingly (or not surprisingly, depending on how up to date you are with what’s going on), they didn’t seem to think it meant anything, and that the US economy was going to recover shortly. I then made a comment that I wouldn’t be surprised if the US did another round of Quantitative Easing (QE3 I dubbed it), but they simply laughed that comment off. Not more ...

Despite having a relatively positive outlook about the economy previously, the Fed today just downgraded all its forecasts and even mentioned the taboo “D” word, deflation. I thought it would be fun to post a few of the more educated comments from CNN here. Keynesian versus Austrian economic theory. Keynes 0, Austrians 1. Now pull up a lawn chair, pop a cold one, and kick back to the soothing hissing sound of every asset class deflating… ~ Jim Koutras I got my beer chilling in the fridge. You do realize that the only reason we’re in this mess is because the Fed flooded the economy with ...