Saturday, December 12, 2009



* While you were asleep, banks' excess reserves smashed through $1 trillion. They're around $1,100 billion at this point.

* "Six Files the US Government Keeps On You, and How to Obtain a Copy." (Here.)

* I'm guessing Dick Clark's law school prof doesn't get too many papers like this.

* Darren C. said this debate between Peter Schiff and David Epstein was the best thing he'd seen all year. He obviously doesn't watch 30 Rock.

* Steve Horwitz lectures on the subject, "Do we really need a central bank?" I haven't watched the video yet but I'm really hoping he says no.

* MercedesRules passes along this interesting blast from the past: Ron Paul trying to hinder Fed and Treasury gold manipulation back in 2002. C'mon Dr. Paul, do you really want Congress manipulating the gold price instead?

* Some interesting fun with emissions targets in the WSJ op ed pages. I checked RealClimate and Joe Romm's sites, but so far no pushback on this one. I am not vouching for the analysis but his projections looked plausible to me.

* Tyler Cowen stoops to grabbing for the legendary "Murphy bump" in Tweeting.

The excess reserves chart is mind-boggling...what's the real potential effect in today's world? Some say "that's money - inflation is inevitable"; others say "massive credit (aka money) has been destroyed; no amount of increased money can stave off deflation".

It's all a bit much to try and plan and prepare for, especially for a middle class schmuck without an econ or finance background. Thanks Bob
Well Bob, it took me almost an hour, but the answer was indeed "no." :)

I have a Mises Daily coming out tomorrow (I think) on this...


Don't forget your long version: "Hell no!"
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