Getting Some Tactical Nuclear Weapons (Mogambo Guru)

[Tace]

And if you are a Junior Mogambo Ranger (JMR), then you are probably salivating, literally, at the prospect of reaping a lot of those enormous oil riches for yourself so that you could easily afford to stretch your Second Amendment rights to include getting some tactical nuclear weapons and showing that pesky Skyview Neighborhood Association who's REALLY the freaking boss around here.

Richard Daughty, the angriest guy in economics -- World News Trust

March 14, 2007 -- While Total Fed Credit was down by a miniscule $1.7 billion last week, the Federal Reserve managed to buy up, for themselves and their Treasury co-conspirators, $1.3 billion of U.S. government securities. Not much, to be sure, but this slimy tactic is called "monetizing the debt"; the government wants to spend money, but doesn't have any, so it creates and sells some bonds, and the Federal Reserve (to its everlasting shame) dutifully creates the money to buy them, and then actually buys the bonds with the money!

This is, in essence, the government buying its own debt by creating the money (increasing the money supply) for the purpose! This is absolutely crazy! And while there are plenty of you who correctly say that the Federal Reserve is a private bank and not a part of the government at all, I will agree that, yes, it is a private bank, but their website address suffix of ".gov" says it all for me about the supposed independence of the Federal Reserve, partly because I am so paranoid and distrusting, mostly because the Fed has done such a pathetically poor job of preserving the value of the dollar, but also with Very Damned Good Reason (VDGR), as the economic history of the results of central banks colluding with governments is bleak, bleak, bleak indeed.

And if you don’t think that this monetization of debt is an economic horror, I will note that: 1) this means that you have never uttered such nonsense around The Mogambo or you would still be carrying scars to remind you of your folly, and: 2) this kind of monetary crap does not appear anywhere, in any book on economics, except as an illustration of how an economy was horrifically destroyed by its government acting like idiots and debasing the currency, which set off a war, or revolution, or something. Never anything good.

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