Tuesday, April 27, 2010

Somebody Please Send to the Brokers Testifying Today...

The Mystery of Banking by Murray Rothbard.

These guys have no understanding of the business cycle and the primary role of the Federal Reserve in causing the business cycle. If they did, they would be able to turn the questions around by the Senators  about whether Goldman played a role in the financial crisis.

The business cycle is always a first and foremost a monetary phenomena, once you understand this, it doesn't matter what Goldman Sachs is doing, it's pretty easy to spot the crisis coming.


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