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Richard's Remarks


"Upper classes are a nation's past. The middle class is its future." Ayn Rand


It was back in 1974 that I had dinner with Ayn Rand and Jim Blanchard. I remember that Ayn said very little and my impression of her was that she was a brilliant, very tough lady and that it was best to avoid arguing with her. At the time, Jim Blanchard was leading a movement to make it legal for Americans to own gold, and I wonder what Jim would say about our monetary system today, and it being illegal to pay bills with gold.


But let's move on to the present. So far, the Bernanke Fed has matters going its way -- all except the bond market, which the Fed has done its damnedest to control.


The Treasury bond market is too big and too international for Bernanke to control. If China holds a trillion dollars worth of ... Log in or subscribe to continue reading.

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