Oregon Bill Would Create Banking Alternative for Cannabis Industry, Bypass Federal Reserve

Oregon Bill Would Create Banking Alternative for Cannabis Industry, Bypass Federal Reserve By Michael Maharrey A bill filed in the Oregon House would establish limited state-chartered banks to serve the cannabis industry. Final passage of this legislation would remove a major federal roadblock in front of the developing industry in the state and further nullify federal prohibition in practice. Rep. Pam Marsh (D) and Rep. Ken Helm (D) introduced House Bill 3169 (HB3169) on Feb. 28. The legislation would create a self-contained, state chartered banking system for the cannabis industry in Oregon.…

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Housing Market Crash 2.0: The Jury is in for 2018-2019

Housing Market Crash 2.0: The Jury is in for 2018-2019 By David Haggith As happened with the first housing market crash that began in 2007 but didn’t become widely recognized until mid-2008, the present housing crisis began exploding one story at a time last summer, and this blog was perhaps the first to state that summer’s change was the turning point from decades of ascent into a collapse in housing sales and prices. I said the same thing back in 2007, and people didn’t believe me then either. The present…

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This Bear Ain’t Playin’ Games with the Bulls

This Bear Ain’t Playin’ Games with the Bulls By David Haggith This ain’t no ballgame. This bear has shown up for blood, not sport. The NASDAQ intraday hit the 20% down mark that is widely regarded as qualifying for a change from a bull market to a bear market. A close at that level would have made it as official as a declaration of a bear market gets. As can be expected, the major index whose stocks played the largest role in forming the bull market of the last decade…

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Sadly, Sound Money ISN’T on the Ballot

Sadly, Sound Money ISN’T on the Ballot By Clint Siegner Americans will be headed to the polls to cast ballots in the midterm elections. Polling suggests that Democrats will return to power in the House of Representatives. Republicans are favored to hold on to the Senate. However, political polls have proven less than reliable. There are plenty of people expecting a surprise once the votes are counted. But there are many policies that won’t change regardless of who holds Congressional power come Wednesday. For starters, we can count on the…

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How (Not) To Pop A Bubble

How (Not) To Pop A Bubble By James Corbett It may not have been the craziest headline that the Trump whirlwind has generated in recent months, but you might have seen it amidst all the Stormy Kavanaughs out there: Trump says Fed is his ‘biggest threat’ because it is raising rates too fast This latest outburst is just one more example of a pattern we have seen emerge over the past two years: Any and all good news about the economy is because of Trump, and any and all bad…

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Easy Money Is a Recipe for Fake Booms and Real Busts

Easy Money Is a Recipe for Fake Booms and Real Busts By Daniel J. Mitchell I periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, to be sure, but they mostly erode the economy’s long-run potential growth. If you want to assign blame for economic downturns, the first place to look is monetary policy. Easy Money Has Challenging Consequences When central banks use monetary policy to keep interest rates low (“Keynesian monetary policy,” also known as “easy…

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How the Trade War Helps Hide Central Bank Sabotage Of The Economy

How the Trade War Helps Hide Central Bank Sabotage Of The Economy By Brandon Smith Almost every aspect of the global economic downturn, which started ostensibly in 2007-2008 and is still ongoing to this day, can be traced back to the actions and policies of central banks. The Federal Reserve, for example, used artificially low interest rates and easy money to create a supposedly no-risk loan environment. This translated into a vast amount of toxic mortgage debt along with a web of derivatives (Mortgage Backed Securities) attached to that debt.…

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The Federal Reserve: Secretly Sticking It To Americans For Over 100 Years

The Federal Reserve: Secretly Sticking It To Americans For Over 100 Years By Clint Siegner In the aftermath of the 2008 Financial Crisis, the private Federal Reserve bank cartel was front and center as a target for public outrage. Former U.S. Congressman Ron Paul’s “End the Fed” message suddenly resonated. Americans hated Fed officials bailing out the banksters – richly rewarding them for crooked and irresponsible behavior which helped create the crisis. But years have passed. Americans have been enjoying the expansion stage of the next great bubble. The central…

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The Swamp vs. Alternative Currencies

The Swamp vs. Alternative Currencies By Stefan Gleason In Federal Reserve chair Jerome Powell’s testimony before Congress last week, he reiterated his intent to continue the central bank’s gradual rate-hiking campaign. Among those who are “not thrilled” about the prospect of higher interest rates: the President of the United States. Trump Tweeted: ….The United States should not be penalized because we are doing so well. Tightening now hurts all that we have done. The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD…

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California Senate Passes Bill to Create Banking Alternative for Cannabis Industry, Bypass Federal Reserve

California Senate Passes Bill to Create Banking Alternative for Cannabis Industry, Bypass Federal Reserve By Michael Maharrey Last week, the California Senate passed a bill that would establish limited state-chartered banks to serve the cannabis industry. Final passage of this legislation would remove a major federal roadblock in front of the developing marijuana industry in the state and further nullify federal prohibition of cannabis. Sen. Bob Hertzberg, (D-Van Nuys), along with a bipartisan coalition of nine cosponsors, introduced Senate Bill 930 (SB930) in January. The legislation would create a self-contained…

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