Liberty Forged

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

Posts Tagged ‘peter schiff’

World Reserve Currency – China says yes.

Posted by Jesse on March 23, 2009

Bernanke: Oh no, no, no. No ones talking about a World Reserve Currency. We can print our way out of this mess.

Barack Obama: Geez, ya know. We’d be taking a stronger lead towards achieveing the goals I set forth during the campaign, but all these setbacks….this crisis, you know, we couldn’t have anticipated it.

Ron Paul: We are going to have a dollar crisis. I ran for Congress in the 70’s because Nixon removed the last remnants of the gold standard and I knew that would lead to disaster. We need to have sound money, move towards a new gold standard and abolish the Federal Reserve. (Also see: The Case for  a Genuine Gold Dollar)

Financial Times: China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.

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Washington DC, Austrian Economics, and Destroying Currency

Posted by Jesse on March 12, 2009

What Has Government Done to Our Money?

Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved.

Tom Woods [Author of Meltdownfree chapter]- We Need Our Heads Examined, say Harvard

In short, the conference was about this: Why do people still think the interaction of free individuals is a superior economic system to one directed by Harvard Ph.D.s like us? …. So by assuming from the outset the very thing that needs to be proven – namely, that the current state of the economy just occurred spontaneously, as the result of wicked market forces – our betters relieve themselves of the need to consider that central banking, a government-established institution, just might have had, you know, a little something to do with what happened.

Mises.org – Reisman –
The Myth that Laissez-Faire is Responsible for Our Present Crisis

Laissez-faire capitalism is a politico-economic system based on private ownership of the means of production and in which the powers of the state are limited to the protection of the individual’s rights against the initiation of physical force. This protection applies to the initiation of physical force by other private individuals, by foreign governments, and, most importantly, by the individual’s own government. This last is accomplished by such means as a written constitution, a system of division of powers and checks and balances, an explicit bill of rights, and eternal vigilance on the part of a citizenry with the right to keep and bear arms. Under laissez-faire capitalism, the state consists essentially just of a police force, law courts, and a national defense establishment, which deter and combat those who initiate the use of physical force. And nothing more.

Ebeling – Human Action as Sixty

“Monetary calculation is the guiding star of action under a system of division of labor,” Mises declared in Human Action. “It is the compass of the man embarking on production.”[1] The significance of the competitive process, as Mises had expressed it in his earlier volume Liberalism, is that it facilitates “the intellectual division of labor that consists in the cooperation of all entrepreneurs, landowners, and workers as producers and consumers in the formation of market prices. But without it, rationality, i.e., the possibility of economic calculation, is unthinkable.”

Richards – Science is as Science Does

I have a bone to pick with Keynesian economists….By what right do I challenge this claim of the economists? I am an experimental physicist by profession. If there is such a thing as empirical science at all, I believe that experimental physics fits the definition, so I have had some experience with it myself. Now I do not dispute that economics is a science. Austrian economists do not dispute that economics is a science; it is just that they understand it to be a logical science, the science of human action.

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FOX has at least one all-star cast

Posted by Jesse on March 11, 2009

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Why were most people wrong about the economy?

Posted by Jesse on November 14, 2008

Posted in america, anarcho capitalism, antiwar, barack obama, business, campaignforliberty, capitalism, central banking, congress, Constitution, Current Events, democrat, economics, economy, Education, federal reserve, free market, Gold, government, history, iran, iraq, Libertarian, life, Politics, Rights, Ron Paul, technology | Tagged: , , , , , , , , , , , , , | Leave a Comment »

Most of my writing are comments are other blogs….

Posted by Jesse on October 17, 2008

my blog is more of a library with a little bit of “diary/notes” that I feel like recording.

another comment I have made on LibertasExemplar

jason,

i wish more people would try to apply the logic you just cited to other problems. (in this country, not other people’s countries) you are exactly correct in asking how government distorts the market. the current banking/wall st. crisis is difficult to analyze for precisely the reason there is and have been massive government interventions.

short term and long term is highly important. if we talked about the theory of intervention in more depth we could expose the reasons why the market is far superior to government control of the economy.

there is no choice that separates short and long, they are integrated. what differentiates the two is a matter of efficiency. so it is simple, yet complex. which is exactly the reason it is inefficient for a central authority to even attempt to command such a complex phenomena as the market.

government cannot control the economy, in fact, it is subject to the economy, not the other way around. this is why it is futile and destructive for government to assume authority in these matters. just as government is supposed to be of, by, and for the people, so is the market. but the market comes first. government is born out of the market. (choices are limited, we live under oppressive standards, lets create a more prosperous environment where our rights are secured and protected, i.e., the liberal idea of the function of government) one can only explain the market and act in it, whereas government is instituted and established to protect the rights to life and property. the market is made up of human actors that produce the goods that we enjoy in life.

it’s easy to see how they are similar, and indeed we can integrate them, but it is completely against the idea of a free society to say that government should create the market and dictate the rules thereof. a free society can be explained in terms of economy, and the government should, if at all, only exist to protect that right to act in the economy so long ones actions are not coercive. a peaceful society should be protected. it cannot be dictated.

so this statement is exactly backwards: “trying to divorce the “free-market” from what is actually happening in the world.”

“That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it”

this statement exactly represents the true nature of the market. it is supposed to be voluntary. it cannot be ‘coercive’ and at the same time ‘free’. value is subjective. it cannot be dictated. which is exactly why this bailout is flat-out robbery. “the people”, the citizens are buying at a price that is being dictated by government. there is no choice. this is not the function of government. government is instituted to protect and secure the property of its people, not squander it.

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For more on praxeology, austrian theory of price, modern subjectivist economics, causal-realist economic theory, scientific economics and the constructs and structures thereof….Man, Economy, and State would be the source to read.

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Capitalism is not the culprit, it’s bad policy by Peter Schiff

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Ron Paul is going the distance.

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