In a clear case of having more dollars than sense, America Online (AOL) is undertaking its least palatable acquisition to date: Arianna Huffington’s amalgam of left-wing screeds, The Huffington Post. Ironically, what some might view as a website with a less than favorable view of capitalism went for a king’s ransom of $315 million.

According to a press release for February 2, Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul has announced the first subcommittee hearing for the 112th Congress to take place on Wednesday, February 9 and will focus on the consequences of the Federal Reserve’s policies on job creation.In his statement, Subcommittee Chairman Paul announced:

With the value of the U.S. dollar exponentially declining since the establishment of the Federal Reserve Bank in 1913, it comes as no surprise that many world leaders and international economists have expressed their desire for a new world reserve currency. In light of the global financial crisis, Russia may be moving toward a sound economic solution — gold.

Media mogul Rupert Murdock, whose News Corp. owns and operates scores of daily newspapers, including such standards as the Times of London, the Wall Street Journal, and the gossip-flavored New York Post, is gearing up for his latest media endeavor: a daily newspaper published only on tablet iPad-style computers.

One day after the Federal Reserve Bank's “Federal Open Market Committee” (FOMC) announced it would create an additional $600 billion in currency over the next eight months, commodities markets skyrocketed as investors frantically sought hedges against the coming inflation. The Federal Reserve Bank, staffed with Keynesian and a few Monetarist school economists, calls the move “quantitative easing.”