TagFederal Reserve System

NJ School Cameras Fed Live To Cops

Surveillance cameras rolling inside our local schools is nothing new, but what’s taking place inside Demarest’s public schools is truly cutting edge: a live feed from more than two dozen cameras with a direct connection to the police.

It’s an expensive, but effective tool that could be a sign of the times with an increase in school shootings over the years.

The system, which cost about $28,000, can even track movement in a crowded room.

WTF? “expensive, but effective”? Is this an editorial piece? And what increase in school shootings? Last I heard school shootings have been dropping since before Columbine.

Full Story: WCBSTV.

Cabaret Brainwash: New Discordia


Fed up with the same old Discordian jokes? So is Johnny Brainwash. Join him at his new web site, Cabaret Brainwash. Discordia: there’s more to it than just the Principia.

Panama has no central bank

I find this remarkably interesting, hence why I am posting it here for your lovely, little eyes to peruse:

In this modern, post–Bretton Woods world of “monetary order” and coordinated central-bank inflation, many who are otherwise sympathetic to the arguments against central banks believe that the elimination of central banking is an unattainable, utopian dream.

For a real-world example of how a system of market-chosen monetary policy would work in the absence of a central bank, one need not look to the past; the example exists in present-day Central America, in the Republic of Panama, a country that has lived without a central bank since its independence, with a very successful and stable macroeconomic environment.

The absence of a central bank in Panama has created a completely market-driven money supply. Panama’s market has also chosen the US dollar as its de facto currency. The country must buy or obtain their dollars by producing or exporting real goods or services; it cannot create money out of thin air. In this way, at least, the system is similar to the old gold standard. Annual inflation in the past 20 years has averaged 1% and there have been years with price deflation, as well: 1986, 1989, and 2003.

Panamanian inflation is usually between 1 and 3 points lower than US inflation; it is caused mostly by the Federal Reserve’s effect on world prices. This market-driven system has created an extremely stable macroeconomic environment. Panama is the only country in Latin America that has not experienced a financial collapse or a currency crisis since its independence.

cont. via the Ludwig von Mises Institute

This comes right after me acquainting myself with Larry Hannigan’s document, “How the money system really works,” a good parable on how the banks create credit to lend out of, essentially, nothing.

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