Thursday, November 27, 2008

1989 Michigan Libertarian Party Panel Discussion - Part 1 of 4

Discussing the future of freedom in 1989:

Murray Rothbard

Lew Rockwell

Richard Ebeling

Larry Reed

Joe Bast

Charles Van Eaton

The rest of the panel discussion will be uploaded in the future.

Murray Rothbard video from Michigan Libertarian Party Convention 1989

I have the entire 2 hour panel discussion and Murray's great dinner speech. These will be posted in the future.

The corrupt MSM will kill us all

The ignorance and mendacity of the MSM always astonishes me. During my campaign for the Michigan Supreme Court for the November 4, 2008 election, I tended to keep up with the biased and ignorant reporting of the Detroit News and Free Press more than usual. What struck me was that while EVERY political article was predictably written in a totally biased manner by an Epsilon-Minus Semi-Moron, the majority of the on-line comments that followed each article tended to be highly critical of the article from a well-written libertarian or conservative position by an average of 7 out of 10comments. Thus, these newspapers must know how much they are dispised by their own on-line readers.

However, nothing ever changes. Between April and September 2008, the Detroit News lost 10% and the Free Press 6% of its readership. That is simply amazing.

The tragedy of all this is that most people do not have the time or inclination to hunt for the truth about current events and history and are merely going to soak up the usual lies and distortions of the MSM media.

Friday, November 7, 2008

There will be no recovery until EVERYONE understands the insidious FEDERAL RESERVE

Not too long ago, our paper money was a receipt for gold or silver. Check out this 1905 gold certificate, above. On the other hand, our current dollar is a receipt for nothing [click for larger view]:

Legal money is a claim on resources. It is both immoral and unconstitutional to have the government or the FED creating fiat money (claims on resources) out of thin air, which is its primary purpose. This necessarily dilutes the value of the existing money stock and thus fraudulently transfers wealth to the receivers of the new money from everyone else holding the old money. When you hear some politician or nitwit in the media calling for an “injection of liquidity”, they are really calling for more money dilution (although they would never admit this).

Those spending the new money have neither created nor do they possess anything of value with which to trade. In spending the new money, the holders of the new money are able to siphon away through purchase the valuable goods and services which could only be obtained by those holding the old money absent the fraudulent creation of the new diluted money which artificially increases demand for EVERYTHING and raises prices. Further, this constant monetary dilution is the sole cause of inflation. Inflation is impossible when money is backed by gold and silver because money backed by precious metals cannot be created out of thin air. Money should be the primary store of value. Houses should not be the primary store of value.

The FED’s money dilution inevitably creates a game of financial musical chairs with everyone trying to find value in the face of constantly diluted dollars. More egregiously, it effectively destroys the normal price system which is how economic information is transmitted in the market. Finally, the FED”s monetary dilution causes the boom and bust cycle by drawing investment into types of production that are unsustainable absent continuing monetary dilution. Indeed, these unsustainable lines of production will eventually fail even with additional money dilution. This is the situation in which we find ourselves today. Indeed, as the entire planet suddenly discovers that everyone is much poorer than previously realized, what the hell good will be an "injection" of diluted dollars into "the economy"? [HELLO MICHIGAN!!! AUTO FACTORIES AND AUTO PURCHASES ARE IMPACTED BY MONEY DILUTION TOO!! LONG TERM ECONOMIC PLANNING BECOMES IMPOSSIBLE!]

As such, in a regime with constantly diluted dollars, most capital gains are illusory, but are nevertheless taxable because there is no indexing of capital gains for inflation. THIS ISN'T THAT COMPLICATED. However, it appears to me that most people would rather live in a cold, muddy refugee camp in a cardboard box than spend the 8 minutes it might take to understand what the FED is doing to their lives.