Archive for March, 2009

$100 Bills?

March 26, 2009

I don’t recall where I saw it and it seems meaningless, someone had reported banks running short on one hundred dollar bills. I had a large check that needed cashing and went off to a Bank of America branch to cash it. The report was not at the top of my mind so I was just a little surprised when the clerk asked if I’d prefer 20’s or 50’s. I asked if the Fed was having a hard time keep up with their printing. He said they were getting a shipment.

I did a bit of searching to see if there were any stories to be found but haven’t even been able to find where I originally heard this rumor. With my government paranoia raging I have to wonder what they are plotting. Is this part of a plot to end cash? Will they leave us with only $1 dollar bills so we can buy gum and candy without resorting to plastic?

It seems to me they should be going the other way and rolling out the $1000 dollar bills so we can get lunch at the street vendors.

Economic Meltdown

March 19, 2009

Federal Reserve Notes, the stuff we call money, are backed by the full faith and credit of our dear leaders. That is why I call it ‘faith based’ money. The trouble comes naturally when people holding the paper lose faith. Back when money was gold and silver and banks handed out certificates as claims to the metals in the vault, a good old fashioned ‘run on the bank’ would take out the dishonest bankers and limit the damage to the crooks and their isolated victims.

Then came the ultimate (so far) banking fraud: the Federal Reserve System. This great system would be the cure to banking problems, no more economic distresses associated with ‘runs on the banks’. I’m not impressed.

Declan McCullagh has a review of Thomas Woods’ new book Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse. It looks like good reading, I’ll have to buy a copy while I can afford it.

Who is Eric Sundwall

March 11, 2009

Government of the people does not mean career politicians. Let’s get rid of the political class and restore the republic.