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The Narrow Bank (TNB) Files Suit Against Federal Reserve by: Lara Murphy Reporting A recent article in Bloomberg explains that individuals representing “The Narrow Bank” (TNB) have filed suit against the New York Federal Reserve for refusing to grant them an account with the central bank. Although Fed officials cite vague “policy concerns” with the TNB business model, cynics think the explanation is very simple: the Fed doesn’t want outsiders to join the club of those eligible for its guaranteed interest payments. Some background: Back in October 2008, soon after the fall of Lehman and as Congress was debating the TARP program, the Fed initiated a new policy ofRead More →

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In: Austrian Economics, debt, Finance, Infinite Banking, Taxes

Socialism vs Capitalism Socialism vs Capitalism. These are opposing schools of thought in economics. Essentially socialists believe in big government and capitalists believe in free enterprise. The remainder of this blog was written by Austrian Economists, Carlos Lara and Bob Murphy. Excerpted from the Lara-Murphy Report 5 LMR NOVEMBER 2015 by Carlos Lara and Bob Murphy If there was one thing we could say with regards to socialism that would cause people to rethink socialism’s entire ideology and reject it, we would point to its inability to calculate or appraise anything. It has no means for testing. Without this one ingredient in the fabric of society howRead More →