Mark Skousen: Murray Rothbard was Right.

Dr. Mark Skousen recently returning from an American Economic Association meeting in San Diego, CA, reports:

"Rogoff noted that since the Fed was created, prices have skyrocketed 30-fold, or 3,000%! This data confirms Murray Rothbard’s contention that the Fed was created to remove the barriers to inflation, not to control it.

Despite the fact that the Fed engineered all of this inflation, caused the Great Depression and failed to regulate the mortgage banks prior to the 2008 crisis, all of the panelists gave high marks to the Fed!

While Skousen's observation about the Fed, Inflation, Rothbard's insight, and the downright ignorance of modern economists is interesting, what is even more notable is the shape of the Consumer Price Index graph that Skousen has posted.  The CPI graph has a parabolic shape to it.  Historical graphical pattern research of markets suggests that when a graph has gone parabolic, it is nearing its entropy stage.  Graphical pattern analysis implies, that the CPI is going to enter into a sustained decline in the not  too distant future - systemic monetary deflation is hiding around the corner.

Caveat financial speculante.

Read Skousen's entire post here.

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Buffett says recapitalized banks are a threat no more : Business

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The Terminus of Money and Banking

About one year ago, Tom Greco's blog, Beyond Money, reported on an alleged statement by the UK's #1 central economic planner: Mervyn King.  At the premier central planners Jackson Hole conference of 2012, Mervyn King had allegedly said the following:

“There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.”

And 'ol Mervyn is right.  When you look at alternative currencies like Bit Coin, Ripple, PayPal and social/crowd lending sites like Prosper, LendingClub and Zopa it's easy to see that traditional money and banking is on its way out.  The alternatives are offering a better, more efficient, and most importantly, honest way for consumers to make payments, as well as way to save and lend purchasing power.  The terminus of monopolistic government-managed money and banking approaches.

"Fiscal Cliff" as a Policy Opportunity | C-SPAN

"Fiscal Cliff" as a Policy Opportunity | C-SPAN