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Watch Ron Paul And Jim Grant Discuss Monetary Policy Live

Tyler Durden's picture


The much anticipated hearing on "The Relationship of Monetary Policy and Rising Prices" chaired by Ron Paul and includes such witnesses as James Grant has started. It should be quite interesting because the last time we checked, Grant contued to refuse to drink the Bernanke Kool Aid.

The complete witness list consists of:

Watch the hearing live below.

PS If anyone has a link that has better audio please advise.


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Thu, 03/17/2011 - 10:13 | 1066397 economessed
economessed's picture

Why do we need a hearing on this?  Can we not trust our eyes and wallets at this point?

Thu, 03/17/2011 - 10:28 | 1066457 alien-IQ
alien-IQ's picture

your daily bread comes with one free circus ticket. enjoy the show.

Thu, 03/17/2011 - 10:30 | 1066469 bankrupt JPM bu...
bankrupt JPM buy silver's picture

Wow these guys are really giving it to him, Im actually surprised.

Thu, 03/17/2011 - 10:39 | 1066505 jus_lite_reading
jus_lite_reading's picture

Does any of this matter? The whole wolrd has gone broke! Ask Warren or Carlos now for money!

Thu, 03/17/2011 - 10:16 | 1066400 swissaustrian
swissaustrian's picture

Which one of the witnesses will be the "defender" of the FED - Lehrman??

Certainly neither Grant nor Salerno...

Thu, 03/17/2011 - 10:16 | 1066401 John Law Lives
John Law Lives's picture

Hit 'em hard!

Thu, 03/17/2011 - 10:15 | 1066403 redrob25
redrob25's picture

Blocked at work. Do we know if any recordings will be available?

Thu, 03/17/2011 - 10:27 | 1066453 Ace Ventura
Ace Ventura's picture

Blocked here too. And no luck finding it on any of the CPSPAN channels broadcast through Comcast. Fun watching a nearly empty House considering whether or not to 'order the previous question' regarding the taxpayer subsidies for NPR.

Can't let the peasantry see the hearings on the REAL issues that affect everything, now can we?

Thu, 03/17/2011 - 10:16 | 1066404 bankrupt JPM bu...
bankrupt JPM buy silver's picture

this should be like a childrens clown show

Thu, 03/17/2011 - 13:12 | 1067168 JW n FL
JW n FL's picture

advertise you ghetto blog every fucking post?

whether i like what your blog says or not.. thats bottom feeding behavior.

Thu, 03/17/2011 - 16:52 | 1068296 Mr Pinnion
Mr Pinnion's picture

his blog is shit.he bans anyone who refuses to lick his arse.



Thu, 03/17/2011 - 10:17 | 1066406 youALREADYknow
youALREADYknow's picture

CSPAN can show the hearing on NPR, but not this.... god bless the media.

Thu, 03/17/2011 - 10:17 | 1066408 Trundle
Trundle's picture

A lot of Ron Paul's videos often have poor audio-especially on You Tube.

Thu, 03/17/2011 - 10:18 | 1066413 Spitzer
Thu, 03/17/2011 - 10:30 | 1066465 DonnieD
DonnieD's picture

The headline is bad but the article is worse. It makes you want to puke. Caroline Salas is clearly carrying water for the Fed.

Thu, 03/17/2011 - 10:34 | 1066483 PY-129-20
PY-129-20's picture
Caroline Salas's Overview
  • Junior Portfolio Constructor at BNP Paribas Investment Partners
  • Private bankers assistant at BNP Paribas Assurance
  • Investment Guidelines officer at AXA Investment Managers
  • Summer intern at Banque Privée Européenne
  • Summer intern at Banque Chaix
  • Shop assistant at Phare de la Baleine
  • Summer intern at Credit Mutuel
  • Shop assistant at Decathlon
Thu, 03/17/2011 - 10:38 | 1066496 DonnieD
DonnieD's picture
  • Ben Bernanke's Bitch
Thu, 03/17/2011 - 10:40 | 1066514 morph
morph's picture

"The Standard & Poor’s 500 Index of stocks has climbed 18 percent since he said Aug. 27 that additional asset purchases might be warranted."

Pffft 18%? That's nothing. Just ask Mugabe. Look how well Zimbabwe is doing since going 100000000000% inflation. They are the largest economy in the world right?

Thu, 03/17/2011 - 10:42 | 1066518 Spitzer
Spitzer's picture

Not just a water carrier. She actually believes it. She thinks QE is something new I guess. Little does she realize that QE is just what turns bad economies in banana republics.

Thu, 03/17/2011 - 13:33 | 1067269 centerline
centerline's picture

Your last sentence was perfect.  A great way to sum it up.

Thu, 03/17/2011 - 16:35 | 1068228 the phantom
the phantom's picture

I emailed that bitch and told her what I thought of her shitty article

Thu, 03/17/2011 - 10:18 | 1066414 RobotTrader
RobotTrader's picture

The Bernank is clearly not printing fast enough.

He needs to turn the clock speed up on the electronic digit machine in order to keep up with Japan.

Japan is printing trillions, not billions, and look how much better the Yen is doing...


Thu, 03/17/2011 - 10:23 | 1066443 John Law Lives
John Law Lives's picture

Fuck off, moron.

Thu, 03/17/2011 - 10:35 | 1066484 AccreditedEYE
AccreditedEYE's picture

Robo, your precious LULU is getting monkey hammered today. lol

Thu, 03/17/2011 - 10:19 | 1066418 iinthesky
iinthesky's picture

How dare they question the Holy Holy TaBERNANKle of New York!?!?!?

Thu, 03/17/2011 - 10:18 | 1066419 AldoHux_IV
AldoHux_IV's picture

Finally an attempt to get to the truth of the ponzi and it's nowhere to be found on the MSM nor is the audio good for the link-- haha what a blatant attempt by the bullshit system to block the truth.  Fucking bastards.

Thu, 03/17/2011 - 10:21 | 1066430 scatterbrains
scatterbrains's picture

Has this audio been sabotaged ?

Thu, 03/17/2011 - 10:26 | 1066450 John Law Lives
John Law Lives's picture

I am viewing it and listening to it on Windows Media Player.

Thu, 03/17/2011 - 10:20 | 1066431 RobotTrader
RobotTrader's picture

Unfortunately, listening to Ron Paul is like listening to your high school principal lecture you about how you should be studying 24/7 and you should avoid drinking and girls at all costs.

Pretty much falls on deaf ears....

Thu, 03/17/2011 - 10:26 | 1066448 Temporalist
Temporalist's picture

Yes for momos that have no patience finding out how they are being robbed and would rather touch themselves looking at charts that show how well the wealth effect is working Dr. Paul is a bore. 

Thu, 03/17/2011 - 10:54 | 1066509 iinthesky
iinthesky's picture

Couldn't agree more. What they should do is go back in and re-read the congressional records from 1929-1933. Specifically read the words spoken by a brave man from Pensylvannia named Louis McFadden. Through those years he lays out the whole scam. How they embezzled all the gold into Europe, how they funded the Nazi's through billions of gold dollars shipped over there to pay for paper reparation bonds that the Germany refused to pay. How the BIS came about. So much fraud and this guy laid it all out. I recommend spending some time reading those speeches. Get 'The Collective Speeches of Louis McFadden' from Amazon. They should go in and reaffirm what was done back then because those were the years that were formative for the current socialist police state agenda where everything requires a license and you own absolutely nothing. They state very clearly in the congressional records that FRNs will represent a mortgage on all property and land of the American people. It's mind boggling but it is required knowledge to put the pieces together.

Thu, 03/17/2011 - 11:19 | 1066673 Mudflap
Mudflap's picture

Louis McFadden was spot on...

"Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. The depredations and iniquities of the Federal Reserve Board has cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it."

From a speech in 1932.

Thu, 03/17/2011 - 11:40 | 1066782 iinthesky
iinthesky's picture

Indeed.. McFadden was a rare man. Perhaps this is why they treated him like Rasputin, they shot him, poisoned him, then finally poisoned him again to kill him. When we came to 1932 he was already frothing at the mouth about the private fed. Prior to this he was leading up to the finale. He exposed everything.. the globalists, which at the time were calling themselves 'internationalists' and the agendas if the BIS, etc. Before him I believe Lindburgh was on their asses. I havent read his books yet. The reality in this country is so far removed from what the average man or woman takes for granted it is a chasm of legendary proportions. The shit they pulled in the teens, 20's and 30's to set up the system is never discussed, never studies, and constantly denied. The joke of it all is, its all public record.

Thu, 03/17/2011 - 17:58 | 1067555 Rick64
Rick64's picture


An example of corruption between the corporations (Standard Oil) and the politicians.


My Dear Senator:                                                                                                Feb. 16, 1900

 Here is still another very objectionable bill. It is so outrageous as to be ridiculous, but it needs to be looked after and I hope there will be no difficulty in killing it . . .

                                     Very Sincerely yours,

                                         John D. Archbold

  My Dear Senator:                                                                                                               April 17, 1900

  I enclose you a certificate of deposit to your favor for $15,000 . . . I need scarcely again express our great gratification over the favorable outcome of affairs . . .

                                      Very Sincerely yours,

                                      John D. Archbold

 John D. Archbold was one of John D. Rockefellers top executives. Excerpts taken from" The Rockefellers An American Dynasty".


Thu, 03/17/2011 - 14:38 | 1067583 SRV - ES339
SRV - ES339's picture

They own the lawmakers... they feed the elite (buying support)... they have no master... they fear nothing... they take what they want (with no legal or moral boundaries) with impunity.

When do those fighting over the scraps tire of wiping the blood from their hands each day?

When do we fight back?

Thu, 03/17/2011 - 10:36 | 1066492 Miss Expectations
Miss Expectations's picture

Did you miss the lecture on masturbation?

Thu, 03/17/2011 - 13:39 | 1067296 centerline
centerline's picture

No junk from me.  Every expensive mistake in my life has involved one or the other of those.  Usually both.

Makes a perfect metaphoric statement though of why are so completely doomed.

Thu, 03/17/2011 - 10:21 | 1066437 youALREADYknow
youALREADYknow's picture

Anyone actually able to watch? I haven't been able to connect.

These guys make it too easy for conspiracy theorists to seem right.

Thu, 03/17/2011 - 10:26 | 1066449 Temporalist
Temporalist's picture

Make sure to click the link that says "Webcast."

Thu, 03/17/2011 - 10:39 | 1066499 svendthrift
svendthrift's picture

All I see is an eagle. Are they on a break? What player should I use?

Thu, 03/17/2011 - 10:44 | 1066521 John Law Lives
John Law Lives's picture

Yes, they are on break.

I have been watching it on Windows Media Player.  You do need to crank up the volume.

Thu, 03/17/2011 - 10:47 | 1066537 svendthrift
svendthrift's picture


Thu, 03/17/2011 - 10:45 | 1066527 The Profit Prophet
The Profit Prophet's picture

Yes, they're on a 20 minute break that started about 10 minutes ago.  The boys are speaking from the heart about what a corrupt Elitist system the FED is, America's desperate need for a gold standard, and how QE has only benefited financial elites and speculators - to the detriment of the middle and lower classses.

Thu, 03/17/2011 - 10:45 | 1066525 John Law Lives
John Law Lives's picture

I have been watching it on Windows Media Player. You do need to crank up the volume.

Thu, 03/17/2011 - 10:35 | 1066439 Dr. Richard Head
Dr. Richard Head's picture

Is that Bill Nye the Science Guy?  Gotta love Jim Grant. 

Just lost the feed at 10:34 Eastern

Thu, 03/17/2011 - 10:45 | 1066528 John Law Lives
John Law Lives's picture

They are on a break.  It will resume shortly.

Thu, 03/17/2011 - 10:53 | 1066554 Dr. Richard Head
Dr. Richard Head's picture

Thanks Johnny Law. 

Thu, 03/17/2011 - 10:27 | 1066452 Fix It Again Timmy
Fix It Again Timmy's picture

Paper is paper, money is money...


Thu, 03/17/2011 - 10:27 | 1066454 swissaustrian
swissaustrian's picture

Wouldnt democrats be supposed to sit RIGHT of Ron Paul?

Are there ANY democrats present?

Thu, 03/17/2011 - 10:30 | 1066463 Temporalist
Temporalist's picture

Spending money is much easier than trying to find out where it's coming from and how its creation impacts actual citizens.

Thu, 03/17/2011 - 10:28 | 1066455 Anacrust
Anacrust's picture

A race to the bottom. I fear that the money pit may not be large enough:,14289/

Thu, 03/17/2011 - 10:28 | 1066456 vote_libertaria...
vote_libertarian_party's picture

How far is this off the radar (rhetorical)?  Ron Paul is the only congress person there and most of the viewing seats are empty.


Nobody cares until overnight the interest rates are up 5-10x.

Thu, 03/17/2011 - 10:30 | 1066461 chinaguy
chinaguy's picture

Stream works fine for me...but let's hope RP can stay on point & not last time.

Thu, 03/17/2011 - 10:34 | 1066479 SuperVillain
SuperVillain's picture

Didn't everyone read Bloomberg this morning? Everything is allright and QE2 is great.

Thu, 03/17/2011 - 10:37 | 1066489 John Law Lives
John Law Lives's picture

It is a "pre-testimony" spin job.

Thu, 03/17/2011 - 10:47 | 1066538 Ace Ventura
Ace Ventura's picture

Heck yeah. And a weak spin job at that. How fitting that one of the 'proofs' Bloomberg is suggesting (market index) completely erased all of its yearly gains for 2011....yesterday.

OT, but I just saw Stuart Varney over on Fauxbiz tell Judge Nap that TARP was entirely justified because '...we're (taxpayers) making money off it (turning a profit)!'. You can't make this stuff up, folks.



Thu, 03/17/2011 - 10:56 | 1066557 John Law Lives
John Law Lives's picture

That Bloomberg article was weak.  It is also filled with BS.  Nobody believes the BLS unemployment data.  The net monthly job creation numbers for the past 3 months were not sufficient to drop U3 unemployment from 9.8% to 8.9%.  The U3 dropped because people stopped being counted as unemployed when the UE benefits expired.  It is amazing how the SNAP/Food Stamp rolls keep surging every month.  Also, since when was the Fed tasked to jack up stock markets.  The Fed is supposed to FIGHT inflation... not promote it.

100% FUBAR Ponzi economic policy.

Thu, 03/17/2011 - 10:53 | 1066553 AN0NYM0US
AN0NYM0US's picture

I at first thought that it was a Bloomberg opinion piece but no, it is classified as news

at the end of the article they are soliciting feedback

To contact the reporter on this story:

Caroline Salas in New York at

To contact the editor responsible for this story:

Chris Wellisz at

Thu, 03/17/2011 - 12:47 | 1067053 Cachao
Cachao's picture

I complained about another article at Bloomberg which should have clearly been in the Opinion category, but all I got was resistance and redirection from the editor.  Bloomberg "News" is just as bad as the rest of 'em, maybe even worse b/c of the incredible hubris of their Wall Street readership.

Thu, 03/17/2011 - 10:33 | 1066480 The Axe
The Axe's picture


Hey...Ron   Bloomberg thinks your full of SHIT.......I like you though...

Thu, 03/17/2011 - 10:36 | 1066490 unwashedmass
unwashedmass's picture


you go Ron. The blatant manipulation of the markets continues, the media refuses to cover......

if they start stating the obvious RELENTLESSLY.....

its gonna be harder to play the "no one could have seen this coming" song when it all collapses.

and hey, look at this "high" volume ramp this morning? keen!!!

Thu, 03/17/2011 - 10:37 | 1066491 lynnybee
lynnybee's picture


Thu, 03/17/2011 - 10:38 | 1066493 RobotTrader
RobotTrader's picture

Yeah, the rambling is a real problem.

No charisma whatsoever.

Too bad there isn't somebody else that can make the case to "End the Fed".

Imagine how much more impact the message would have if it were Donald Trump delivering the message instead.

Poor Ron Paul doesn't stand much of a chance.

The Washington money printers and PigMen on Wall St. are pretty much laughing at him right now.

Thu, 03/17/2011 - 10:39 | 1066511 Spitzer
Spitzer's picture

Ron Paul will have the last laugh, you know it.

Thu, 03/17/2011 - 10:44 | 1066529 potatomafia
potatomafia's picture

Trump!!  Gimme a break..  He is a loser, lets just tax everything not made in the U.S. 25%, that ought to fix our problems...



What about Charlie Sheen?  He is radiating with charisma!

Thu, 03/17/2011 - 11:01 | 1066574 faustian bargain
faustian bargain's picture

Why are you posting more than once on this ZH entry? Does it really mean that much to you? You sound desperate.

Thu, 03/17/2011 - 10:38 | 1066501 dick cheneys ghost
dick cheneys ghost's picture

Moody's.........more downgrades for states and cities.......

Thu, 03/17/2011 - 10:45 | 1066516 Alcoholic Nativ...
Alcoholic Native American's picture

LOL, this isn't on CSPAN, they are currently showing our congresscritters voting yes to defund NPR.  And yes it just went through.


Good job guys! keep up the good work, I don't think I could stand it another day if I knew my government particially funded NPR.

Representative Republic FTW.

Next on the block, Extending the war in Afghanistan.

This country fucken sucks.

Thu, 03/17/2011 - 10:43 | 1066519 dwdollar
dwdollar's picture

All I see is an eagle...  Is it over already?  Maybe a break?

Thu, 03/17/2011 - 10:48 | 1066536 John Law Lives
John Law Lives's picture

It is on break.

Thu, 03/17/2011 - 10:43 | 1066522 carbon based unit
carbon based unit's picture

is it just me, or is the ministry of truth blanking the broadcast to keep any unauthorized facts from being broadcast ...?

Thu, 03/17/2011 - 10:46 | 1066530 Alcoholic Nativ...
Alcoholic Native American's picture

Defunding NPR and extending the Afghan war is more important coverage than our ponzi economic system.

Thu, 03/17/2011 - 10:44 | 1066531 Abitdodgie
Abitdodgie's picture

How long has the Jewish star been above the eagle ?

Thu, 03/17/2011 - 10:57 | 1066561 Dr. Richard Head
Dr. Richard Head's picture

Longer than Chase has intertwined a swastika in their logo.

Thu, 03/17/2011 - 10:46 | 1066533 iinthesky
iinthesky's picture

What happened.. they broke off?

Thu, 03/17/2011 - 10:52 | 1066546 iinthesky
iinthesky's picture

Its available here too:


Looks like they broke for a while. Can't be over it just started less than an hour ago

Thu, 03/17/2011 - 10:54 | 1066550 TradingJoe
TradingJoe's picture

RP looks like David against Goliath! We all know from history who won?!

Thu, 03/17/2011 - 11:07 | 1066608 Dan Watie
Dan Watie's picture

Ron Paul reminds me of marshal Will Kane in High Noon. The people in the town secretly admire him but lack the courage to help him. In the end its all up to him to set things straight. Alone.  My hero...Ron Paul!!

Thu, 03/17/2011 - 10:58 | 1066562 Deluxe186
Deluxe186's picture

Does is seem strange that nowhere on any financial network or cspann for that matter is this on right now?

Thu, 03/17/2011 - 11:05 | 1066600 iinthesky
iinthesky's picture

Thats cause the BERNANK is not testifying and the BERNANK is everything ot the financial news networks. Did you expect anything different?

Thu, 03/17/2011 - 10:59 | 1066568 iinthesky
iinthesky's picture

They're back

Thu, 03/17/2011 - 11:03 | 1066587 John Law Lives
John Law Lives's picture


To all of you muni bond haters out there:

<<< Despite all the hoopla over whether defaults in the $2.9 trillion municipal market will surge -- historically they have been under 1 percent -- Moody's said it did not expect any states to stop repaying general obligation debt, which is backed by an issuer's full faith and credit. >>>

Remember what John Law told you neophytes.  General Obligation bonds from US States ARE safe.  It is ridiculous to lump all municipal bonds into a single asset class.  Muni bonds issued by Vallejo, CA do not compare.

Junk away, neophytes! 




Thu, 03/17/2011 - 11:09 | 1066619 Bastiat
Bastiat's picture

Yes, John, exactly -- with the end of bond insurance, the illusion of muni bond fungibility is gone -- all credits are specific and local.

Thu, 03/17/2011 - 11:21 | 1066677 John Law Lives
John Law Lives's picture

Thank you.  We agree.  Moody's agrees.  TD is being disingenuous (imo) in his/her bias against muni bonds as an asset class.  Each issuance of bonds MUST be evaluated based upon the creditworthiness of the issuer.  What happens in Vallejo, CA has ZERO bearing on GO bonds in Texas (for example).

BTW, watch my junks pile up.  At last count, I had nearly 30 on a single post on another thread where I defended General Obligation bonds as a safe asset.  The anarchists here just don't want to hear it.


Thu, 03/17/2011 - 11:19 | 1066671 Richard Head
Richard Head's picture

Junked for starting a sentence with "Moody's said..."

Thu, 03/17/2011 - 11:23 | 1066688 John Law Lives
John Law Lives's picture

I posted that QUOTE from the article I referenced, friend.  That was not my sentence.

Thu, 03/17/2011 - 12:21 | 1066956 I am a Man I am...
I am a Man I am Forty's picture

I am with you John Law.  Revenue muni bonds for utilities will do fine as well as long as JPM and GS stay the fuck away.  Vallejo went bankrupt in 2008 and it's still thrown out there like it happened yesterday.


The state of PA stepped in for Harrisburg to make payments because they understand the ramifications of default.



Thu, 03/17/2011 - 11:08 | 1066607 Miss anthrope
Miss anthrope's picture

windows m edia player,  the gallery actually has NO ONE.  This should be on the front page and on CNN.  "the dollar is the coca cola of monetary brands"; yes, both of them when they were first made were REALLY worth something

Thu, 03/17/2011 - 11:24 | 1066610 baby_BLYTHE
baby_BLYTHE's picture

What an insult to Dr. Paul's intelligence on a day with a market SCREAMING HIGHER like this!

You cannot make this up.

Mr. chairsatan, you're fired!

Thu, 03/17/2011 - 11:26 | 1066712 John Law Lives
John Law Lives's picture

The "market" is only following its master.  The "market" rise reflects the surging M2 money supply.  That is what is screaming higher.  The market is actually underperforming gold over a longer run.

Thu, 03/17/2011 - 11:08 | 1066613 iinthesky
iinthesky's picture

The man testifying now si wrong.. There IS an underlying asset. The CREDIT of the people of America.. Your labor and property is the collateral! Why do they never go into that. It's all written down on the record.

Thu, 03/17/2011 - 11:08 | 1066617 Miss anthrope
Miss anthrope's picture

Ron Paul and Tyler are HOT



Thu, 03/17/2011 - 11:11 | 1066626 baby_BLYTHE
baby_BLYTHE's picture

indeed, ;)

Thu, 03/17/2011 - 11:22 | 1066683 djsmps
djsmps's picture

Wow. The audio is on two channels with the polarity of one channel reversed. I just flipped the polarity on one channel, and the audio is fine. Is Obama going to present some more NCAA picks during this meeting?

Thu, 03/17/2011 - 11:24 | 1066693 Miss anthrope
Miss anthrope's picture

if even drug dealers won't use the dollar, THEN holy merde, ..... oh sorry, drug dealers are smarter than the average American.

Thu, 03/17/2011 - 11:23 | 1066694 iinthesky
iinthesky's picture

Drug dealers are offloading their Benjamins.. I guess the next craze in gangster hip hop is gonna be 'all about the euros'

Thu, 03/17/2011 - 11:27 | 1066716 primefool
primefool's picture

Question: How to measure inflation - CPI? Core? Median? etc etc

My retort: Why do you want to know?

I mean if I gave you a perfect measuring tool - what then do you intend to do with it?

If you merely want to know how fast the price of your favorite goods are going up - simply look at the prices of those goods.

If the reason you ask is to try to figure out where interest are going to go - then the only thing that matters is what Bernanke looks at!

Thu, 03/17/2011 - 20:44 | 1069335 Double down
Double down's picture

Rather than using CPI to measure inflation use the S&P

Thu, 03/17/2011 - 11:29 | 1066725 luk427
luk427's picture

I like this video from the academy awards alot better.

Thu, 03/17/2011 - 11:31 | 1066738 THE DORK OF CORK
THE DORK OF CORK's picture

Jim Grant "it might chase skirts"

The poor guy just can't get Margret Brennan out of his head

Thu, 03/17/2011 - 11:43 | 1066798 tiger7905
tiger7905's picture

Summary and comments on Jim Rickard's interview on QE and how he see's it playing out.

Thu, 03/17/2011 - 11:49 | 1066816 Temporalist
Temporalist's picture

Listening to Lehrman say the monetarists are disproven makes me think about the days when "the humors" were the "reason" for all ills.  It takes time for people to question quacks when they are all that the system if providing.

Thu, 03/17/2011 - 12:00 | 1066860 iinthesky
iinthesky's picture

We should demand a hearing with RP committee.. Gather together some of the most prominent students of history, law, and the money power (non university brainwashed ones) and put the entire chain of events of what happened starting from 1791 up to the present day on the congressional record. That would be awesome!

Thu, 03/17/2011 - 12:02 | 1066872 somethingelse
somethingelse's picture

Excellent hearing.  Thank you to Ron Paul.  

Perhaps if he had thought to bring a card-board cut-out of Bernanke to the hearing the MSM would have shown up in force?

Thu, 03/17/2011 - 12:04 | 1066881 JR
JR's picture

IS QE3 AHEAD? | Lew Rockwell | March 17, 2011 (Or… “Money Lunatics”)


Austrian School economists have often explained the business cycle using the metaphor of liquor or drugs. The expansion of paper money and credit gives a sense of exuberance, an economic high that leads to excessive risk-taking and ballooning production. But it can’t be sustained. There is a morning after…

What is being stimulated? Stock prices, certainly, but that is not wealth. Stock prices are just prices. They are no different from apple prices, coffee prices, and gas prices. When these go up, do we say: fantastic news, we are wealthier! Of course not. The belief that a rising stock price is great news remains one of the most wicked of all economic myths.

Then there is the problem of price increases more generally. The producer price index for February has generated terrifying results, though you probably haven’t heard about them. Predictions were for a 0.6% increase but the reality was 1.6%, which points to double digits on an annualized basis.

And that's just the beginning. Food prices rose the most since November 1974. Prices of raw materials rose by 3.4% in February from the previous month. Intermediate prices climbed 2.0%, with diesel fuel up a monthly 12.6% in February. These huge increases were counterbalanced by falling prices in cars, trucks, warehousing, and other areas that are already showing signs of a post-boom slump.

Will there be a QE3? Most likely. Look at this exchange with Bernanke at the National Press Club: 

Q: Will there be a Q3?

Bernanke: In the end, we'll just ask the same questions. Where's the economy going, and what do various inflation indicators look like? We'll ask those questions. If unemployment is still too low, then we may continue. If we're moving towards full employment, then we won't need to stimulate more.

And what is full employment? The Fed’s statisticians believe that it is 6% or so, and we are nowhere near headed that way. Plus, Bernanke is wholly wrong to believe that somehow employment can be used as a measure of economic health. For many decades, socialist economies bragged about zero unemployment, but the economies regressed year after year. Even in mixed economies like ours, high employment is most often an effect of prosperity and never a cause.

Plus, we can’t believe Bernanke that employment data alone will drive the decision. He is an errand boy for the big banks and Wall Street. That will drive his decisions, along with politics...

Another truth is that the Fed doesn’t really care about inflation as much as it cares about the solvency of the banking and financial systems. Bernanke would drive us right into hyperinflation to save his industries. Savers living on pensions just don’t have the political clout to stop the money machine…

The Fed and the government have hooked the American economy on a wicked drug. Our job is to drive the dealers from their seats of power.

Rockwell is a former congressional chief of staff to Ron Paul, is founder and chairman of the Mises Institute and executor for the estate of Murray N. Rothbard…

Thu, 03/17/2011 - 14:07 | 1067422 baby_BLYTHE
baby_BLYTHE's picture

A junk for that^^^???

Wow, tough crowd!

Thu, 03/17/2011 - 12:10 | 1066913 I am a Man I am...
I am a Man I am Forty's picture

my 8 year old niece can broadcast to the world, but I can't seem to get this??



Thu, 03/17/2011 - 12:51 | 1067067 LawsofPhysics
LawsofPhysics's picture

Everyone else notice that the mainstream media is keeping this on the down low?  Some internet transmission being interrupted?  Quite possible.

Thu, 03/17/2011 - 17:17 | 1068405 hubbywan
hubbywan's picture

What are the odds of the silver market closing within 0.03 over the past three days?

Thu, 03/17/2011 - 18:00 | 1068545 Bansters-in-my-...
Bansters-in-my- feces's picture

Slice Bernanke's balls off and stick them in his mouth....

He will make more sense when he talks.

Sach of fucking shit.

Thu, 03/17/2011 - 21:32 | 1069513 onealpha
onealpha's picture

In case you missed it, here is the archived version.

Do NOT follow this link or you will be banned from the site!