Mike Shedlock on Mark-to-Model and SOPA's War on the Financial Blogosphere

The Federal Reserve has more than tripled the size of its balance sheet since the financial crisis, printing money in order to do it. Whose decision was that? Not yours, unless you're one of the handful of member soy the federal open market committee (FOMC). Next week they meet -- some are predicting more quantitative easing (QE) may be on the menu. But what has all this money printing really amounted to? After all, the extent to which base money created by the Federal Reserve is actually seeping into the broader monetary aggregates is rather disappointing. Much of this money has ended right back at the federal reserve in the form of excess reserves, earning a pathetically small amount of interest in return for the safety of bid daddy's deposit account. We have seen the same thing in europe with LTRO funded money going right back to the ECB and swelling those deposits above 500 billion euros. So, is this what happenes when banks refuse to lend? Is this what a private sector, balance sheet recession looks like? Well, we speak to Mike "Mish" Shedlock for answers to this. He is an advisor to Sitka Pacific Capital and author of the very popular blog, globaleconomicanalysis.blogspot.com. And speaking of bailouts, the mainstream media is looking to cash in on one with SOPA and PIPA. For the time being, thank god that there's the alternative financial media to tell you what's missing from that conversation. But could SOPA and PIPA the US anti-piracy bills change all of this? We've seen the protests from silicon valley...but today we'll break down why the financial blogosphere is going to "war against a never ending witch hunt," in the words of Mike "Mish" Shedlock.

Category:

News & Politics

Tags:

• Capital Account
• Lauren Lyster
• Demetri Kofinas
• Mike Shedlock
• Mish
• RTAmerica
• RT
• Russia Today
• Markets
• Finance
• Economy
• Federal Reserve
• base money
• monetary aggregates
• M1
• M2
• M3
• M0
• loans
• lending
• ECB
• LTRO
• sitka pacific
• SMP
• securities market programme
• excess reserves

[1977Melville]

SOPA and NDAA...Thank you Oblunder : ( And I thought Brainless Bush was a bastard.

[ltmikepowell]

@waldentree When the time that USD come just PART of the oil currency, be prepare for USD to be devaluation. And in worse case scenario, when bond investors lose their trust on USD's future and dump USD in the process, expect inflation or even hyperinflation to come.

Normalcy bias kills, beware.

[ltmikepowell]

@Steve2323ZX And it's currently devaluing.

[007HubbaBubba]

@RTProducer ...Hopefully! She is a strong willed woman and I believe she likes her Job here on RT to much just to go run amuk with some Davos. Maybe a few days on his Yacht, and then she would be bored and be ready to come back. You mean you don't have any hot sisters or girlfriends that can do arithmetic in their head? Like Lauren does? and speak at the same time?

[takwira]

Lauren is awesome smart.

[RTProducer]

@1998awest thanks! I love Max's show as well. I've been following him on TaM since before the Oracle on BBC. He's a really nice guy too, and exceptionally creative and bright. Glad that we share some of the same audience.

[1998awest]

@RTProducer Awesome, great to hear, Demetri. If you're not having fun, you're not doing it right. Keep up the great work.

I carve out 28 minutes every day to watch. Capital Account and the Keiser Report are the best financial news shows out there.

[RTProducer]

@MsTamsinator that's because we had to go to break. I noticed that when watching the show. It did look very suspicious! I promise it wasn't. We talk about the bubble in China. It's a function of the global monetary system, we just don't feel like we need to cover it in and of itself.

[RTProducer]

@007HubbaBubba haha funny. Unfortunately, we don't have anyone that can fill in for lauren, so I will just have to hold the fort until she is gone, but hopefully she won't leave us for some Davos oligarch!

[58robbo]

who is this chick? she's awesome! i like the way she puts things