Llewellyn Rockwell of the Ludwig von Mises Institute has written an excellent blog on monetary reform and the gold standard.
Rockwell notes:
"It is the perfect storm: the big banks loot us through government, while the academic economists approve it as applied science.
"Moreover, there seems to be no test of whether or not what they are doing is a good thing. When the market responds negatively to a new infusion of cash, they say that it isn't enough. When the market responds positively, they take credit for fixing the problem. The state maintains the charade that it is the one infallible institution."
Llewellyn argues that the problem with a gold standard is that:
"the people charged with implementing it will invariably be the very people, advancement of whose interests has caused the current problem and have the least incentive to change the system. We've seen in the last several weeks how these people are willing to blow up the world rather than face liquidation. So the question becomes, how can we take steps toward sound money and banking without depending on the good will of the officials in charge?"
Rockwell recommends several books:
-Hans Sennholz's Money and Freedom
-George Selgin's Good Money
and the writings of Jörg Guido Hülsmann. FA von Hayek also advocated competitive currencies. Under the free market view of money:
"People should be free to use any money they can get each other to accept. More than that, people should be free to introduce new moneys based on gold or silver or any other commodity, and develop payment systems based on this, whether that means paper signifiers or digital goods. The market is capable of policing this system the same way it does retail trade."
View the whole thing here.
Tuesday, October 14, 2008
Letter to A Friend Who Has Suffered An Anxiety Attack Over America
Dear Friend: I was sorry to read about your anxiety attack. The situation in the United States now is deeply troubling, and I fully understand your frustration. The Republican candidate, John McCain, is ineffectual and ignorant of the basic principles on which America was founded. At the same time, he is a man of courage. His opponent, Barack Obama, is dishonest but may not be as bad as you and I fear he may be. In the past hundred years there have been cycles of socialists gaining power in America. These include Theodore Roosevelt, probably the most extreme socialist to occupy the presidency (and a Republican) and his cousin Franklin D. Roosevelt. It is unclear at this point what the effects of an Obama presidency coupled with Democratic control of both Houses of Congress will be. It is clear, however, that the Republicans have not proven much better than your and my worst fears about the Democrats. The Bush administration's policies concerning the banking industry have been more socialistic and more destructive than would be a national health insurance plan.
I believe it is time for those who believe in liberty to take stock and begin considering new alternatives. Although Senator McCain may be preferable to Senator Obama in this election, those who favor freedom and laissez faire need to conceptualize a third way, one that differs from the current alternatives. This in my opinion will require either a revolution within the Republican Party or a third party that will eventually replace it or offer an alternative to the two "Progressive" parties, Democratic and Republican, both of which offer reactionary policies that have ennervated progress, abused freedom and harmed Americans.
Given the dramatic failure of the Republicans under George W. Bush and the popularity of Senator Barack Obama, your anxiety attack is entirely understandable. I believe at this point it is increasingly true that dramatic steps need to be taken to revitablize and re-educate Americans, who have been brainwashed by ignorant "Progressive" ideologues in our education system and media. It is increasingly important that those who see beyond the double talk of the preposterous "Progressive" consensus that dominates our public discussion need courage.
I hope that you feel better and are encouraged that many Americans agree with you.
Sincerely,
Mitchell Langbert
I believe it is time for those who believe in liberty to take stock and begin considering new alternatives. Although Senator McCain may be preferable to Senator Obama in this election, those who favor freedom and laissez faire need to conceptualize a third way, one that differs from the current alternatives. This in my opinion will require either a revolution within the Republican Party or a third party that will eventually replace it or offer an alternative to the two "Progressive" parties, Democratic and Republican, both of which offer reactionary policies that have ennervated progress, abused freedom and harmed Americans.
Given the dramatic failure of the Republicans under George W. Bush and the popularity of Senator Barack Obama, your anxiety attack is entirely understandable. I believe at this point it is increasingly true that dramatic steps need to be taken to revitablize and re-educate Americans, who have been brainwashed by ignorant "Progressive" ideologues in our education system and media. It is increasingly important that those who see beyond the double talk of the preposterous "Progressive" consensus that dominates our public discussion need courage.
I hope that you feel better and are encouraged that many Americans agree with you.
Sincerely,
Mitchell Langbert
Fraud Surrounding Obama's Home
A poster on my blog, who calls himself "Diogenes" is a pro-Obama thought police who aims to attack any who question Senator Barack Obama's corruption and lies. In contrast, the original Diogenes, who was a "kuon" or cynic, tried to uproot corruption. My "Diogenes" holds up his lantern to throw rocks at all who question Senator Obama's corruption.
But there are still plenty of Americans interested in the truth and able to think for themselves. One of these is AJ Strata of Strata Sphere. Strata asks hard questions in his blog about what seems to be fraud surrounding Barack Obama's house that he co-purchased with convicted felon Tony Rezko (h/t Larwyn).
Strata writes:
"...From Hillbuzz there is news that convicted felon (and Obama associate) Tony Rezko is about to turn states evidence, and the rumor is he has an interesting target in his sights:
"...Tony Rezko is giving up the Giannoulias family to Patrick Fitzgerald — Rezko and the Giannoulias family are as close and tied together as anyone in Chicago could be. If Rezko is turning on them, then Rezko is going to give up Governor Rod Blagojevich and Obama too.
"...The Giannoulias family was involved with Obama as far back as his first state senate campaign in 1996. It has been long rumored here in Chicago that Obama obtained a sweetheart deal on his first town home here in Chicago — which he could not have afforded otherwise — and guess who the financing came from for that house?
"Here is the summary of what was found in the records:
"A Lexis property search for Obama in Illinois shows the Hyde Park property in Obama’s name beginning in 1998, but Obama supposedly bought the property in 1993.
All tax assessments from 1998-2004 are in the name of Emil - is this the person paying taxes on the property for the Obamas until they sold the property in 2005?
Obama Records have a different Legal Description than the original owner’s documents...."
Read the whole riveting story here.
But there are still plenty of Americans interested in the truth and able to think for themselves. One of these is AJ Strata of Strata Sphere. Strata asks hard questions in his blog about what seems to be fraud surrounding Barack Obama's house that he co-purchased with convicted felon Tony Rezko (h/t Larwyn).
Strata writes:
"...From Hillbuzz there is news that convicted felon (and Obama associate) Tony Rezko is about to turn states evidence, and the rumor is he has an interesting target in his sights:
"...Tony Rezko is giving up the Giannoulias family to Patrick Fitzgerald — Rezko and the Giannoulias family are as close and tied together as anyone in Chicago could be. If Rezko is turning on them, then Rezko is going to give up Governor Rod Blagojevich and Obama too.
"...The Giannoulias family was involved with Obama as far back as his first state senate campaign in 1996. It has been long rumored here in Chicago that Obama obtained a sweetheart deal on his first town home here in Chicago — which he could not have afforded otherwise — and guess who the financing came from for that house?
"Here is the summary of what was found in the records:
"A Lexis property search for Obama in Illinois shows the Hyde Park property in Obama’s name beginning in 1998, but Obama supposedly bought the property in 1993.
All tax assessments from 1998-2004 are in the name of Emil - is this the person paying taxes on the property for the Obamas until they sold the property in 2005?
Obama Records have a different Legal Description than the original owner’s documents...."
Read the whole riveting story here.
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