The Ice Blog

by Ice

Money, Banking and The Federal Reserve (Video)

by The Ludwig von Mises Institute
The Ludwig von Mises Institute

Thomas Jefferson and Andrew Jackson understood “The Monster”. But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.

Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salemo, Hans Hoppe and Lew Rockwell, this estraordinary film is the clearest, most compelling explanation ever offered of the Fed and why curbing it must be our first priority.

Alan Greenspan is not, we’re told, happy about this 42 minute blockbuster. Watch it and you’ll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America.

You can order the “Money, Banking and The Federal Reserve on DVD at Mises.org

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October 11, 2009 Posted by | American History, Austrian Economics, Banks, Congress, Credit, Currency, Deficit, Deficit Spending, Economy, End of America, End the Fed, Federal Reserve, Finance, Government, Inflation, Investing, Investment, Law, Legislation, Lew Rockwell, Limited Federal Government, Loans, Loans/Mortgage, Ludwig von Mises Institute, Market Economy, Money, Murray N. Rothbard, Politics, Ron Paul, Sovereignty, Tax, Taxation, Taxpayer, Trade | , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Ron Paul on Coast to Coast AM

Ron Paul on Coast to Coast AM with George Noory

July 22, 2009 Posted by | Bailout, Banks, Bernanke, Congress, Credit, Currency, Deficit, Deficit Spending, Economy, End the Fed, Federal Reserve, Finance, Fraud, Free Market, Government, Inflation, Investing, Investment, Law, Legislation, Limited Federal Government, Loans, Market, Market Economy, Politics, Ron Paul, Senate, Statutes, Tax, Taxation, Taxpayer, Trade | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

A Sound Bite: Free Market Economy Has Failed

We have been subjected to the onslaught of this sound bite coming from the top Banksters and Main Stream Media from the beginning of the sub-prime fiasco.  Of course there is only one solution to a failure of a Free Market.  That’s right… more regulation.  More aptly put: Less Freedom and more Government Control.

How many people across the country are now repeating that sound bite?  Many Americans, wanting to demonstrate their knowledge in matters far above their daily life, are using sound bites like this one while repeating the latest propaganda spewing from the bought and paid for Main Stream Media.  Some may even engage in lengthy arguments over this misinformation and denial of obvious truths that have been staring them in the face for many, many decades.

The masses, having been focused on increasing their material wealth and “fun in the sun”,  haven’t had time to educate themselves on these very important issues. They depend on their limited education from government indoctrination centers, commonly referred to as “public education”, and the Main Stream Media for knowledge of the world around them. Imagine how different our reality might be if men and women had taken time after dinner, or right before bed, to read a book on any of these important matters.  In hindsight they might agree that a bit of self education is worth the effort to protect their freedom.

Is the sound bite “Free Market Economy Has Failed” in any way legitimate?

The truth of the matter is that intervention in the market, rather than the market economy itself, was the driving factor behind the bust.

F.A. Hayek won the Nobel Prize for his work showing how the central bank’s intervention into the economy gives rise to the boom-bust cycle, making us feel prosperous until we suffer the inevitable crash. Most Americans know nothing about Hayek’s theory (known as the Austrian theory of the business cycle), and are therefore easy prey for the quacks who blame the market for problems caused by the manipulation of money and credit. The artificial booms the Fed provokes, wrote economist Henry Hazlitt decades ago, must end “in a crisis and a slump, and…worse than the slump itself may be the public delusion that the slump has been caused, not by the previous inflation, but by the inherent defects of ‘capitalism.’”

Although my recently released book, Meltdown explains the process in more detail, an abbreviated version of Austrian business cycle theory might run as follows:

Government-established central banks can artificially lower interest rates by increasing the supply of money (and thus the funds banks have available to lend) through the banking system. This is supposed to stimulate the economy. What it actually does is mislead investors into embarking on an investment boom that the artificially low rates seem to validate but that in fact cannot be sustained under existing economic conditions. Investments that would have correctly been assessed as unprofitable are falsely appraised as profitable, and over time the result is the squandering of countless resources in lines of investment that should never have been begun.

Source: “No, The Free Market Did Not CauseThe Financial Crisis”, by Thomas E. Woods, Jr.

Continued Here.

May 8, 2009 Posted by | Bailout, Banks, Bernanke, Books, Credit, Currency, Deficit, Deficit Spending, Economy, End the Fed, Federal Reserve, Finance, Fraud, Free Market, Government, Inflation, Investing, Investment, Loans/Mortgage, Market, Market Economy, Politics, Stocks | , , , , , , , , , , , , , , | 7 Comments