The Vampire Squids

[Charles Oakwood]

http://www.zerohedge.com/news/jim-grant-federal-reserve-vampire-squid-vampire-squids

He continues: "They - the vampire squids - have manipulated virtually every single price and valuation in the capital markets. People ought to recognize when they invest that one of the unspoken risks is the risk that this hall of mirrors, this Barnum and Bailey world that the Fed has created for us is going to vanish one day because they will not be able to hold it any more...

Ella Fitzgerald, "It's Only a Paper Moon"

[Libertas]

"I like my calimari rings the size of mine hauler tires."

 

The Fed has morphed well beyong the innocent meaning of its original charter, but then again a big net isn't employed to catch plankton now is it?  And far from unusual is the federal creation that doesn't become an ever-increasing bloated monstrosity, eh?

We know who to blame, those most responsible, but in the end it is us.

[Charles Oakwood]

A bit long but full of interesting info

http://www.zerohedge.com/news/must-read-jim-grant-crucifies-fed-explains-why-gold-standard-best-option

the American economist David A. Wells, writing in 1889, was explaining the consequences of disruptive innovation.

“In the last analysis,” Wells proposes, “it will appear that there is no such thing as fixed capital; there is nothing useful that is very old except the precious metals, and life consists in the conversion of forces. The only capital which is of permanent value is immaterial—the experience of generations and the development of science.”

[BMG]

Just adding to the resource pool

Nut cases. That’s what they are. And if you take an interest in them, you are a nut case, too.

That’s the consensus among credentialed economists who describe advocates of a return to the monetary regime known as the gold standard. In fact, the economic pack will marginalize you as a weirdo faster than you can say “Jacques Rueff,” if you even raise the topic of monetary policy in relation to gold.

An example of such marginalizing appears in a recent issue of the Atlantic magazine. Author Adam Ozimek lists four rules upon which economists overwhelmingly agree. Right away, that puts readers on guard; they don’t want to be the only one to disagree with eminences.

[Libertas]

Everything circles back to the beginning...real assets are real for a reason, not because some artifice was created out of thin air.

Call me a nut.  See if I care!

I'll have the last