Jun 172015
Published on May 29, 2015 Governments, at least modern western governments, have always hated cash transactions. Cash is private, and cash is hard to tax. So politicians trump up phony reasons like drug trafficking and money laundering to win support for bad laws like the Bank Secrecy Act of 1970, which makes even small cash transactions potentially reportable to the Feds. Today cash is under attack like never before. Ultra low interest rates are the norm for commercial bank accounts. In Europe, as the ECB ventures into negative nominal interest rates, certain banks threaten to charge customers for depositing cash. Meanwhile, certain European bonds now pay negative yields, effectively turning them into insurance products rather than financial assets. And some economists now call for the outright abolition of cash, which shows just how far some will go in their crazed belief that economic prosperity can be commanded by forcing us to spend rather than save. The War on Cash is real, and it will intensify. Here to explain is Dr. Joe Salerno, who spoke on the subject at our recent Mises Circle event in Stamford, Connecticut. Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
May 062015
The Next Empire – :Part Two Warfare From Doug Casey’s Internationalman.com. http://www.internationalman.com/articles/the-next-empire Editor’s Note: Ah yes, the great economic savior, Warfare. This country has historically turned to our military industrial complex to solve our economic and political problems until now, none of our leader can see any other way. Wars are expensive. They cost money use up other national resources. Wars are destructive of capital and human resources. They are disruptive of trade, resource availability, and labor management. war generally impedes economic development and undermines prosperity. Large wars constitute severe shocks to the economies of participating countries but long wars decimated the economies. We have been at war too long. Our empire is collapsing. Warfare is often the death knell of a declining empire—both in its extreme financial cost and in its ability to alienate the peoples of other countries. In the new millennium, the US has invaded more countries than at any other time in its history and appears now to be in a state of perpetual warfare. This is being carried out both militarily and economically, as the US imposes economic sanctions on those it seeks to conquer. This effort has become so threatening to the world that other major powers, even if they do not have a history of being allies, are now coming together to counter the US. The US is encouraged in its effort by an unnatural alliance between the countries of Europe. Although Europe is made up of many small countries, often with dramatically differing cultures, who have bickered with each other for centuries, the European Union has cobbled them together into an ill-conceived “United States of Europe.” Although the relatively new EU is already clearly stumbling and is on the verge of fragmenting, their leaders are desperately attempting to hold the unlikely alliance together with the help of the US. Meanwhile, the other major powers of the world are going full steam ahead to ensure that, when the US and EU reach their Waterloo, the rest of the world will carry on independently of the dying empire. They are not merely waiting along the sidelines for the collapse to come, awaiting their turn at the top of the pecking-order. They are actively preparing their position to, as seamlessly as possible, take the baton at a run. Resources: The Mises Institute, founded in 1982, is an educational institution devoted to advancing Austrian economics, freedom, (more…)
May 052015
The Next Empire – :Part One Welcome The Next Empire From Doug Casey’s Internationalman.com. http://www.internationalman.com/articles/the-next-empire Editor’s Note: It’s the old “Forest and Trees” paradigm, we who are living in the US have a very difficult time seeing what is really happening. Americans live with an unending “HOPE” that we’ll always recover and we’ll always expand our role as Number One in the world. We now know we are not number one. People, stop listening to cable news, at least half of what they say is false. Our debt is 28 times greater than our income. Don’t they call that “upside down”. Once an Empire gets top-heavy like our government is now, almost anything will tip it into collapse. Throughout history, political, financial, and military leaders have sought to create empires. Westerners often think of ancient Rome as the first empire. Later, other empires formed for a time. Spain became an empire, courtesy of its Armada, its conquest of the New World, and the gold and silver extracted from the West. Great Britain owned the 19th century but lost its empire due largely to costly wars. The US took over in the 20th century and, like Rome, rose as a republic, with minimal central control, but is now crumbling under its own governmental weight. Invariably, the last people to understand the collapse of an empire are those who live within it. As a British subject, I remember my younger years, when, even though the British Empire was well and truly over, many of my fellow Brits were still behaving in a pompous manner as though British “superiority” still existed. Not so, today. (You can only pretend for so long.) But this does suggest that those who live within the present empire—the US—will be the last to truly understand that the game is all but over. Americans seem to be hopeful that the dramatic decline is a temporary setback from which they will rebound. Not likely. Historically, once an empire has been shot from its perch, it’s replaced by a rising power—one that’s more productive and more forward thinking in every way. Yet the US is hanging on tenaciously, and like any dying empire, its leaders are becoming increasingly ruthless, both at home and abroad, hoping to keep up appearances. Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Mar 192015
The Net Neutrality Scam FEBRUARY 26, 2015 Ryan McMaken Original: http://mises.org/library/net-neutrality-scam The Mises Institute, founded in 1982, is an educational institution devoted to advancing Austrian economics, freedom, and peace in the classical-liberal tradition. TAGS Big Government,nterventionism Yet again, the government wants to fix a problem that doesn’t exist. According to the Obama administration and the FCC, it is necessary to regulate internet service providers so that they don’t interfere with people’s access to the web. The claim immediately prompts one to ask: Who is being denied access to the web? In the past twenty years, access to the Internet has only become more widespread and service today is far faster for many people — including “ordinary” people — than it was twenty years ago, or even ten years ago. Today, broadband in Europe, where the Internet is more tightly regulated, has less reach than it has in the United States. The administration’s plan is rather innocuously called “net neutrality,” but in fact it has nothing at all to do with neutrality and is just a scheme to vastly increase the federal government’s control over the Internet. What is Net Neutrality? We don’t know the details of the plan because the FCC refuses to let the taxpayers see the 300-page proposal before the FCC votes on it today. But, we do know a few things. Currently, ISPs are regulated by the FCC, but as an “information service” under the less restrictive rules of so-called Title I. But now, the FCC wants to regulate ISPs as utilities under the far more restrictive Title II restrictions. For a clue as to how cutting edge this idea is, remember this switch to Title II regulation would put ISPs into the same regulatory regime as Ma Bell under the Communications Act of 1934. So what does this mean for the FCC in practice? According to FCC Commissioner Ajit Pai, “It gives the FCC the power to micromanage virtually every aspect of how the Internet works.” More specifically, Gordon Crovitz at the Wall Street Journal writes: [With Net Neutrality,] bureaucrats can review the fairness of Google’s search results, Facebook’s news feeds and news sites’ links to one another and to advertisers. BlackBerry is already lobbying the FCC to force Apple and Netflix to offer apps for BlackBerry’s unpopular phones. Bureaucrats will oversee peering, content-delivery networks and other parts of the interconnected network that enables everything from (more…)