Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Posts Tagged ‘investment’

Financial Crisis solved: Start Liquidating Federal Gov’t assets

Posted by Jesse on March 14, 2009

It’s called leading by example

A Forgotten Day and A Forgotten Country Harry Brown

In 1886 the federal debt was $1.40 per person (adjusted for inflation to dollars of 2002 value). In 2002 the federal debt was $21,564 per person.

Free to Plan A Secure Retirement Harry Browne

The federal government owns trillions of dollars worth of assets it doesn’t need and shouldn’t have. These include power companies, pipelines, idle military bases, business enterprises, over 400,000 buildings, oil and mineral rights, commodity reserves, and much more including 29% of all the land in the United States.

When the federal government is reduced to just its Constitutional functions, there will be no reason for it to continue hoarding those assets. They can be sold to the public, putting them in the hands of people who will use them more responsibly and more productively. And the sales will generate the money to clean up the financial mess the politicians have made.

Repudiating the National Debt Murray Rothbard

It is ridiculous for a citizen to be taxed by one arm of the federal government (the IRS), to pay interest and principal on debt owned by another agency of the federal government. It would save the taxpayer a great deal of money, and spare savings from further waste, to simply cancel that debt outright. The alleged debt is simply an accounting fiction that provides a mask over reality and furnishes a convenient means for mulcting the taxpayer.

Social Security, perhaps the most revered institution in the American polity, is also the greatest single racket. It’s simply a giant Ponzi scheme controlled by the federal government. But this reality is masked by the Social Security Administration’s purchase of government bonds, the Treasury then spending these funds on whatever it wishes. But the fact that the SSA has government bonds in its portfolio, and collects interest and payment from the American taxpayer, allows it to masquerade as a legitimate insurance business.

…This combination of repudiation and privatization would go a long way to reducing the tax burden, establishing fiscal soundness, and desocializing the United States.

In order to go this route, however, we first have to rid ourselves of the fallacious mindset that conflates public and private, and that treats government debt as if it were a productive contract between two legitimate property owners.

What is America Harry Browne

If you devote yourself to fighting against the latest political proposal, you may be wasting your time.

The growth of government is inevitable because the major issue has already been decided: there is no longer an America of tiny government, voluntary association, and the free market. So the only arguments now are over how the politicians will run our lives the Republican way or the Democratic way.

Our one hope is to persuade our fellow Americans that a return to the Bill of Rights could bring us much smaller government, much greater personal income, access to more low-cost products and services, and the freedom to live your own life as you think best not as the President or Congress wants.

Every battle is trivial compared to the fight to restore that unique America.

And don’t forget about the Fed

The Solution Murray Rothbard

To save our economy from destruction and from the eventual holocaust of run away inflation, we the people must take the money-supply function back from the government. Money is far too important to be left in the hands of bankers and of Establishment economists and financiers. To accomplish this goal, money must be returned to the market economy, with all monetary functions performed within the structure of the rights of private property and of the free-market economy.

Abolish the Fed Ron Paul

From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble last year, every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial “boom” followed by a recession or depression when the Fed-created bubble bursts.


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Austrian Scholars conference Streaming Live now

Posted by Jesse on March 14, 2009

check it out here : yaliberty.org

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Obama ignores largest National Security threat – the Pentagon

Posted by Jesse on February 5, 2009

From antiwar.com radio:

Chalmers Johnson, author of Nemesis: The Last Days of the American Republic, discusses the enormous and expanding U.S. defense budget amidst a general economic collapse, the army of defense lobbyists ready to fight against any spending cuts, how military spending diverts economic resources away from beneficial uses and how defense contractors make the largest and most dubious defense projects into sacred cows by spreading production to as many congressional districts as possible.

MP3 here. (22:46)

Chalmers Johnson is the author of Blowback: The Costs and Consequences of American Empire, The Sorrows of Empire: Militarism, Secrecy, and the End of the Republic and Nemesis: The Last Days of the American Republic. His latest article, “Economic Death Spiral at the Pentagon”, co-written with Tom Engelhardt, is at Tomdispatch.com and at Antiwar.com.

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See: The Political Economy of Fear:

At every point, opportunists latch onto existing fears and strive to invent new ones to feather their own nests. Thus, public-school teachers and administrators agree that the nation faces an “education crisis.” Police departments and temperance crusaders insist that the nation faces a generalized “drug crisis” or at times a specific drug crisis, such as “an epidemic of crack cocaine use.” Public-health interests foster fears of “epidemics” that in reality consist not of the spread of contagious pathogens but of the lack of personal control and self-responsibility, such as the “epidemic of obesity” or the “epidemic of juvenile homicides.” By means of this tactic, a host of personal peccadilloes has been medicalized and consigned to the “therapeutic state” (Nolan 1998, Szasz 2001, Higgs 1999).

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For a good exposition on why the “Left” is just as bad (if not worse) as the “Right” on the subject of militarism, have a listen:

Justin Raimondo, the editorial director of Antiwar.com, discusses his article “Beware the New Globalism,” the shift in U.S. empire from Bush’s unilaterism to Obama’s multilateralism, how the economic meltdown is only the latest justification for global regulation, the appeal of smaller and more efficient regional governments, the likelihood of increased international cooperation on Iran sanctions and intervention in Africa under the Obama administration and how the U.S. is eschewing a democratic republic in favor of plutocratic socialism.

MP3 here. (53:44)

Justin Raimondo is the editorial director of Antiwar.com. He is the author of An Enemy of the State: The Life of Murray N. Rothbard (Prometheus Books, 2000). He is also the author of Reclaiming the American Right: The Lost Legacy of the Conservative Movement (with an Introduction by Patrick J. Buchanan), (Center for Libertarian Studies, 1993), and Into the Bosnian Quagmire: The Case Against U.S. Intervention in the Balkans (1996).

He is a contributing editor for The American Conservative, a Senior Fellow at the Randolph Bourne Institute, and an Adjunct Scholar with the Ludwig von Mises Institute, and writes frequently for Chronicles: A Magazine of American Culture.

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The Prospect by Marc Faber

Posted by Jesse on October 23, 2008

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°For a more in-depth perspective I would recommend Frank Shostak, adjunct scholar the Mises Institute and chief economist at MF Global. Recently interviewed by Jefferey Tucker (Sept 30, Oct 13, Oct 22) and Lew Rockwell (Oct 10), his analysis is clear, sound, and priceless. [see: Is the Fed an Inflation Fighter or Creator]

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Jörg Guido Hülsmann, Senior Fellow at the Mises Institute, author of a new publication, The Ethics of Money Production. Interviewed by Lew Rockwell [Aug 4, Aug 11, Sept 28, Oct 8, Oct 12]

______________________UPDATE——-Friday Oct 24——–UPDATE___________________

°Just watched Charlie Rose interview David Smick, well known for his book The World is Curved, and more-so as Founder of The International Economy. This Magazine is “edited for … central bankers, politicians, and members of the financial community including professional investment managers, macroeconomic specialists, and high net-worth global investors.

I’d give it a 2 out of 10. (And keep in mind please, I like Charlie’s show!)

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Also see: °Matthew Beller’s , Inflation, Deflation, Red-flation, Blue-flation, [mp3] that talks about, you guessed it, definitions. More importantly it pinpoints the importance of each in the economy and how each is caused by the various actions within the market.

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Get to know the economy with this list of articles.

Posted by Jesse on September 29, 2008

The Recession Reader

Instead of looking to the mainstream for answers to this crisis, why not look to those who saw it coming?

The Bailout Reader

It’s never been more important to spread a sound view of money and banking, not only as a protection against the fallacies of “stabilization” and “reflation” but also as way to see what kind of reforms are essential now.

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