In response to:

Prophets and Losses

Texas Chris Wrote: Feb 05, 2013 9:53 AM
I agree. Simply repeal legal tender. Done. Congress has a constitutional mandate to define weight and measure of gold and silver. Do it. Done. Now AmEx, Visa, Mastercard, Wal Mart, Toyota, McDonnalds, BFI, and any average Joe in his garage can make money that adheres to that standard. But NOT the government. NEVER the government. Do not trust the government with your money. Ever.
Now that the federal government is playing an ever larger role in the economy, a look at Washington's track record seems to be long overdue.

The recent release of the Federal Reserve Board's transcripts of its deliberations back in 2007 shows that their economic prophecies were way off. How much faith should we put in their prophecies today -- or the policies based on those prophecies?

Even after the housing market began its collapse in 2006, Federal Reserve Chairman Ben Bernanke said in 2007, "The impact on the broader economy and financial markets of the problems in the subprime market seems likely to...