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No one is saying here to pick a battle with the Fed or to go lynching Bernanke and his cronies. But if you know and understand why the Fed's screwed and therefore the country you will make better personal and financial decisions not to mention trading decisions. The guys at mises.org knew well...

Someone who doesn't know the difference b/w a BANKING and a FISCAL crisis is defending the Fed. I rest my case.

You guys should also check www.mises.org they have the best academic explanation why the federal reserve should be shut down right now. Otherwise they will be allowed to make dumb and dumber policy mistakes and the final crisis will be much worse and the Fed wil bankrupt and disappear anyway...

As the article points out, the "free banking era" was not exactly a "free banking" system because there were all sorts of dumb regulations.

Hong Kong's monetary authority is not exactly a central bank. It's more like a currency board. http://en.wikipedia.org/wiki/Hong_Kong_Monetary_Authority And to the other poster, 1998 is irrelevant because we're talking about BANKING not FISCAL crises or whatever. It's one of the more stable...

The fact that most countries have a central bank does not mean it's the best system. Just 300 years ago democracy was a rarity, most countries were either monarchies or colonies. The best alternative to the current system is the so-called Free Banking system. In this system there is no monopoly...

Panama Hong Kong Both are countries with ZERO banking crises since inception.

Incorporating an incubator offshore hedge fund will set you back about $5000 for setup and about $2000 per year running costs. You can figure out on your own if you're making enough to justify the expense. Offshore funds do not require licenses or permits under certain conditions, generally...

Jack may not want to be yelled at by Jill for drawdowns or for entering into gutsy contrarian trades. Both of them upsets most non-traders. Or, Jack doesn't want Jill to invest $10,000 and then piggybacking the trades in her $10,000,000 account to avoid paying fees. Solution...

Gold 1257-2010 log scale Data Source:Global Financial Data It is clearly on a fifth wave, but fifth waves sometimes extend, so it can go easily above $20,000 before dropping back to $200-$300.

Bunch of morons, they complain their government and the banks steal their money, but why do they elect the socialists and corporatists again and again. Peronism is one of the greatest disgraces of a political party in any Latin American country. And Obama is the USA's Peron.

Latency depends also on internet provider and location. I think latency London-NY of 100 and London-Chicago of 120 ms is pretty much commonplace, and i've seen 90ms from London to CME Chicago. 300 ms latency must be some bad internet provider from central or easter europe.

The biggest threat to wealth preservation in the US is socialism: Why? i) Monetary socialists, inflationists, central bank fetichists they will depreciate the dollar to zero in the long-run. ii) Interventionists, want capital controls, high taxes, anti-wealth regulations. iii) Ultimately...

Exactly, only in America are leftists called liberals. They should call themselves just leftists or socialists. SO in America true liberals in the classical sense are left with the less familiar "libertarian" name. But socialists are trying to steal that name too!! watch that disgusting...

Stiglitz: Obama doesn't need another "deficits are good" government spending fetichist. His current minions are doing a great job bankrupting the U.S. economy. U.S. Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff "... the IMF has effectively pronounced the U.S. bankrupt."...

They should fund the Tea Party instead.

29% is huge considering mainstream media is basically against it, no other grassroots movement has grown so quickly. Give it another year, and those numbers will be even more impressive.

Marx is alive and well, don't let the bureaucrats, war and banking oligarchs tell you otherwise. In 1848 Marx and Engels proposed that progressive taxation be used "to wrest, by degrees, all capital from the bourgeois, to centralize all instruments of production in the hands of the state."...

Agree, sticking with boutique shops here. All great fund managers started small. Virtually none of them started as bankers.

So many advanced degrees,so much computer power, and yet, so much disdain (even ignorance) for hard theory and statistical tests which pointed their stationary models were wrong and ill-defined even if making money in the short run. There exist scientific and profitable quantitative models but...