July 14, 2011
nicoleranee:

housingworksbookstore:

(via xkcd: Marie Curie)
The second-to-last panel strikes me as especially writer-pertinent.

I love the second to last panel and the last one for entirely different reasons. But I love them both.

nicoleranee:

housingworksbookstore:

(via xkcd: Marie Curie)

The second-to-last panel strikes me as especially writer-pertinent.

I love the second to last panel and the last one for entirely different reasons. But I love them both.

July 13, 2011

“My concept of God is much different than someone who was raised to see God as someone to fear and obey. From a very early age, it was made clear to me that the inner voice is God and I am God… Whatever shape you give it in your mind, that’s what it is. It’s knowing that you pertain to something, that you are part of something and it’s not just the “I” - there’s something bigger you’re connected to.”

Omar Rodriguez Lopez

krestinaholodov:

(Source: gobubs, via parkstepp)

July 13, 2011

Could A Federal Reserve Bank Go Bust?

Jul. 13 2011 Federal Reserve Bank of New York Building panorama

FRB New York; image from Epicharmus via Flickr

The 12 Federal Reserve banks have assets, including risky assets. They have liabilities. They have a thin capital cushion. Could one of them become insolvent?

The possibility ought to concern you if you have any Federal Reserve notes in your wallet. These notes aren’t redeemable for gold or anything else tangible. They are trust-me money. What if people stop trusting the dollar? What are you going to be able to buy with it?

Fed insolvency is a scenario pooh-poohed by most bankers and the Fed’s own staff. When I saw Dallas Fed boss Richard Fisher at a conference earlier this year he laughed off my question about what rising interest rates would do to his bank’s balance sheet.

But scary talk about the Fed is being heard from some serious economists and money managers.

William Baldwin

INVESTMENT STRATEGIES

Read more: http://blogs.forbes.com/baldwin/2011/07/13/could-a-federal-reserve-bank-go-bust/