Tuesday, February 18, 2014

Money-Printing is Doomed to Failure

Mark Thornton discusses how mainstream economists are sitting in the dark with no tools to install another light bulb. Here.


  1. AT 7.36, Alan Butler claims the Federal Reserve is a private corporation not tied to the federal govt. That statement is false. The branches are set up like private non-profits. The system as a whole is part of the federal govt.

    The Federal Reserve sent 82 billion to the Treasury this past year. If they are not part of the Federal Govt, why are they sending 82 billion to the Treasury? The Fed has a unique structure. If you are going to criticize the Fed, you better understand this simple fact. The Federal Reserve is not a private bank.

    Since 2007, the Fed has sent 390 billion to the Treasury.

    Table 2.5—Composition of "Other Receipts": 1940–2018

    2008 33,598
    2009 34,318
    2010 75,845
    2011 82,546
    2012 81,957
    2013 82,853

    1. “Begin each day by telling yourself: Today I shall be meeting with interference, ingratitude, insolence, disloyalty, ill-will, and selfishness – all of them due to the offenders’ ignorance of what is good or evil.”
      ― Marcus Aurelius, Meditations (HT Sirk)