lewrockwell--2020-09-05--A Rogue Institution and a Clear and Present Danger to Liberty in America

We have never heard more gibberish , double talk , and lies from one podium than we have from Fed Chairman Powell .
There is no other way to say it : The Fed has become a dangerous rogue institution that has usurped plenary power over the financial system .
This is all based on implicit theories that eventually lead to a massive speculative blow-off , even as it sucks the vitality out of the Main Street economy in the interim .
The implicit theory is brazenly simple : The Fed believes that relentless credit expansion fosters greater economic growth @ @ @ @ @ @ @ there is no practical limit to how much debt the household , business , and government sectors of the economy can tolerate or any notable adverse trade-offs from ever-higher leverage ratios .
Self-evidently , lower interest rates foster more debt issuance .
The Zero Interest Trap Hochreiter , Gregor Best Price : $ 12.16 Buy New $ 19.00 When economic growth falters for any reason , the Fed ’ s first action is to push rates even lower .
This ratcheting process has gone on for more than three decades , and interest @ @ @ @ @ @ @ , been obliterated .
The chart below takes all the short-run bobbing and weaving out of the GDP data by showing the rolling 20-year average of annual growth .
By 2019 , the rolling 20-year growth trend had fallen to 2.1 % per annum—a figure less than half of the 4.4 % level in place exactly 50 years ago .
The above dismal trend line was not for want of trying with the debt elixir .
At the end of 1969 , total public and private debt ( blue area in the chart @ @ @ @ @ @ @ , which has since mushroomed to , well , nearly $ 78 trillion !
In exactly half a century , the level of debt weighing on the US economy attributable to all borrowers—households , businesses , governments , and financials—is up by 51X .
However , at the same time , the national income or nominal GDP ( red area in the chart below ) , which supports it , has risen by only 21X .
That alone points to the skunk in the woodpile .
The debt-to-GDP ratio in 1969 stood at @ @ @ @ @ @ @ in that area for a century since 1870—an interval that saw the greatest explosion of economic growth , mass prosperity , technological progress , and accumulated wealth in human history .
Gods of Money : Wall St ... Engdahl , F. William Best Price : $ 8.98 Buy New $ 29.95 It happened without any increase in the national leverage ratio at all .
It had remained at the golden mean of 1.5X debt-to-income throughout .
Today the total debt-to-national income ratio stands at 3.47X , or exactly two more turns of debt @ @ @ @ @ @ @ sure , two extra turns of debt sounds like investment banker jargon , but the phrase captures the essence of the rot that lies at the heart of the nation ’ s financial system and economy .
Those two extra turns amount to $ 43 trillion of incremental debt , which constitutes the millstone crushing economic growth and the rudiments of sustainable prosperity .
Stated differently , at the 1969 national leverage ratio of 1.47X , total public and private debt today would clock in at $ 32 trillion , not $ 75 @ @ @ @ @ @ @ tripled over the last half-century , the trend rate of economic growth would not have been cut in half .
After all , aggregate economic growth comes from the sum of labor hours employed and productivity improvements .
Given the massive burst of technological innovation ushered in by the computer age since 1969 , there should have been no want of the latter .
Today , we are employing barely 60 % of the available adult labor hours in the US economy .
That means there are more than enough latent labor hours @ @ @ @ @ @ @ .
In the case of the employment/population ratio—even allowing for the fact that in 1969 most jobs were full-time and today there is a huge part-time , gig-based element to the workforce—was 14 % lower in February ( pre-lockdown ) than it was back then .
So if the raw productivity and potential labor hours were there to support a continuation of the 4.0 % historical growth rate shown above , why has it faltered to less than half of that level during the last half-century ?
As Dustin Hoffman might have said @ @ @ @ @ @ @ , which was released on the eve of 1969—malinvestment !
That ’ s what the massive expansion of debt , the systematic falsification of interest rates , and financial asset prices confected by the Fed has wrought .
Unleashing Usury : How ... Westra , Richard Best Price : $ 12.61 Buy New $ 24.95 Capital and technology have been misallocated and wasted ; potential labor resources have been inefficiently deployed or not at all .
The legions of money-dealers and speculators in today ’ s economy are an example of the former @ @ @ @ @ @ @ the fact that millions of jobs moved offshore because of the Fed ’ s inflation of debt and the domestic price-cost-wage structure .
Jay Powell and his merry band of money-wreckers would not even recognize the charts above .
They are so caught up in groupthink and recency bias that they are not even aware of where their monetary perfidy has taken the nation ’ s finances and economic foundation .
Each new economic crisis or shock leads them to the same knee-jerk policy spasm : less interest , more debt !
It @ @ @ @ @ @ @ , that is , the spurious claim that even tiny upward toggles in rock-bottom interest rates are a mortal threat to the economy and must be suppressed with even more heavy-handed intervention .
In that context , Powell let the cat out of the bag when he made the preposterous claim—and with no if , ands or buts—that the insane $ 2.8 trillion of new money printed by the Fed since the onset of the lockdown in mid-March was some kind of Bernanke-esque profile in the courage to print .
What he describes @ @ @ @ @ @ @ remotely : “ What happened was markets stopped working .
They stopped working , and companies couldn ’ t borrow , they couldn ’ t roll over their debt .
People couldn ’ t borrow .
Financial turbulence and malfunction , a financial system that ’ s not working , can greatly amplify the negative effects of what was clearly going to be a major economic shock .
1 % .
The book that the ... Sharratt , Robert Best Price : $ 9.93 Buy New $ 8.99 What our tools were put @ @ @ @ @ @ @ the markets to function .
I think some of that has really happened , as I mentioned in my opening remarks , and that ’ s a good thing.
” This is the same Gigantic Lie Ben Bernanke unleashed in the fall of 2008 .
We wonder what hay wagon Powell thinks we fell off of .
That ’ s because he made the same specious argument that Bernanke made in the fall of 2008 when he went off the deep end , taking the Fed ’ s balance sheet from $ 900 @ @ @ @ @ @ @ accrue ) to $ 2.3 trillion in a mere 13 weeks .
Needless to say , once you get in the price control business for debt , you are inherently in the price control business for all financial assets because the cost of the former drives the discount rate for equities and other long-duration assets .
It is the most egregious folly ever imagined .
It causes a massive windfall to the top 1 % and 10 % , which own 53 % and 88 % of the stock , respectively .
It @ @ @ @ @ @ @ eventually collapses under its own weight .
In a debt-saturated system , the Fed ’ s massive bond purchases never transmit anything outside the canyons of Wall Street .
This money-printing madness only drives bond prices higher and cap rates lower .
This means relentless and systematic inflation of financial asset prices .
As a practical matter , the bottom 90 % don ’ t own enough stock or even inflated government and corporate bonds to shake a stick at .
Instead , what meager savings they have accumulated languish in bank deposits @ @ @ @ @ @ @ earning exactly what the Fed has decreed—nothing !
So , when Powell says he ’ s only trying to help the average American , you have to wonder whether he is just stupid or the greatest lying fraud yet to occupy the Fed ’ s big chair .
It doesn ’ t matter why .
The Fed is now a rogue institution that comprises a clear and present danger to the future of prosperity and liberty in America .
The Best of David Stockman

We have never heard more gibberish, double talk, and lies from one podium than we have from Fed Chairman Powell.
There is no other way to say it: The Fed has become a dangerous rogue institution that has usurped plenary power over the financial system.
This is all based on implicit theories that eventually lead to a massive speculative blow-off, even as it sucks the vitality out of the Main Street economy in the interim.
The implicit theory is brazenly simple: The Fed believes that relentless credit expansion fosters greater economic growth and full employment. It believes that there is no practical limit to how much debt the household, business, and government sectors of the economy can tolerate or any notable adverse trade-offs from ever-higher leverage ratios.
Self-evidently, lower interest rates foster more debt issuance. The Zero Interest Trap Hochreiter, Gregor Best Price: $12.16 Buy New $19.00 (as of 05:13 UTC - Details)
When economic growth falters for any reason, the Fed’s first action is to push rates even lower. This ratcheting process has gone on for more than three decades, and interest rates have, for all practical purposes, been obliterated.
The chart below takes all the short-run bobbing and weaving out of the GDP data by showing the rolling 20-year average of annual growth.
It is dispositive.
By 2019, the rolling 20-year growth trend had fallen to 2.1% per annum—a figure less than half of the 4.4% level in place exactly 50 years ago.
The above dismal trend line was not for want of trying with the debt elixir.
At the end of 1969, total public and private debt (blue area in the chart below) stood at $1.54 trillion, which has since mushroomed to, well, nearly $78 trillion!
In exactly half a century, the level of debt weighing on the US economy attributable to all borrowers—households, businesses, governments, and financials—is up by 51X.
However, at the same time, the national income or nominal GDP (red area in the chart below), which supports it, has risen by only 21X.
That alone points to the skunk in the woodpile.
Total US Debt vs. Nominal GDP, 1969–2019
The debt-to-GDP ratio in 1969 stood at 1.47X, which had been roughly centered in that area for a century since 1870—an interval that saw the greatest explosion of economic growth, mass prosperity, technological progress, and accumulated wealth in human history. Gods of Money: Wall St... Engdahl, F. William Best Price: $8.98 Buy New $29.95 (as of 03:42 UTC - Details)
It happened without any increase in the national leverage ratio at all. It had remained at the golden mean of 1.5X debt-to-income throughout.
Today the total debt-to-national income ratio stands at 3.47X, or exactly two more turns of debt than 50 years ago.
To be sure, two extra turns of debt sounds like investment banker jargon, but the phrase captures the essence of the rot that lies at the heart of the nation’s financial system and economy.
Those two extra turns amount to $43 trillion of incremental debt, which constitutes the millstone crushing economic growth and the rudiments of sustainable prosperity.
Stated differently, at the 1969 national leverage ratio of 1.47X, total public and private debt today would clock in at $32 trillion, not $75 trillion. Had the leverage ratio not tripled over the last half-century, the trend rate of economic growth would not have been cut in half.
After all, aggregate economic growth comes from the sum of labor hours employed and productivity improvements. Given the massive burst of technological innovation ushered in by the computer age since 1969, there should have been no want of the latter.
Today, we are employing barely 60% of the available adult labor hours in the US economy. That means there are more than enough latent labor hours available to support pre-1969 levels of growth.
In the case of the employment/population ratio—even allowing for the fact that in 1969 most jobs were full-time and today there is a huge part-time, gig-based element to the workforce—was 14% lower in February (pre-lockdown) than it was back then.
So if the raw productivity and potential labor hours were there to support a continuation of the 4.0% historical growth rate shown above, why has it faltered to less than half of that level during the last half-century?
As Dustin Hoffman might have said in the iconic moment of The Graduate, which was released on the eve of 1969—malinvestment!
That’s what the massive expansion of debt, the systematic falsification of interest rates, and financial asset prices confected by the Fed has wrought. Unleashing Usury: How ... Westra, Richard Best Price: $12.61 Buy New $24.95 (as of 03:15 UTC - Details)
Capital and technology have been misallocated and wasted; potential labor resources have been inefficiently deployed or not at all.
The legions of money-dealers and speculators in today’s economy are an example of the former.
An example of the latter is the fact that millions of jobs moved offshore because of the Fed’s inflation of debt and the domestic price-cost-wage structure.
Less Interest, More Debt
Jay Powell and his merry band of money-wreckers would not even recognize the charts above.
They are so caught up in groupthink and recency bias that they are not even aware of where their monetary perfidy has taken the nation’s finances and economic foundation.
Each new economic crisis or shock leads them to the same knee-jerk policy spasm: less interest, more debt!
It also leads them into outright intellectual mendacity, that is, the spurious claim that even tiny upward toggles in rock-bottom interest rates are a mortal threat to the economy and must be suppressed with even more heavy-handed intervention.
In that context, Powell let the cat out of the bag when he made the preposterous claim—and with no if, ands or buts—that the insane $2.8 trillion of new money printed by the Fed since the onset of the lockdown in mid-March was some kind of Bernanke-esque profile in the courage to print.
What he describes below did not happen, not even remotely:
“What happened was markets stopped working. They stopped working, and companies couldn’t borrow, they couldn’t roll over their debt. People couldn’t borrow. Financial turbulence and malfunction, a financial system that’s not working, can greatly amplify the negative effects of what was clearly going to be a major economic shock. 1%. The book that the... Sharratt, Robert Best Price: $9.93 Buy New $8.99 (as of 02:53 UTC - Details)
What our tools were put to work to do was to restore the markets to function. I think some of that has really happened, as I mentioned in my opening remarks, and that’s a good thing.”
This is the same Gigantic Lie Ben Bernanke unleashed in the fall of 2008.
We wonder what hay wagon Powell thinks we fell off of.
That’s because he made the same specious argument that Bernanke made in the fall of 2008 when he went off the deep end, taking the Fed’s balance sheet from $900 billion (which took 94 years to accrue) to $2.3 trillion in a mere 13 weeks.
Needless to say, once you get in the price control business for debt, you are inherently in the price control business for all financial assets because the cost of the former drives the discount rate for equities and other long-duration assets.
It is the most egregious folly ever imagined.
It causes a massive windfall to the top 1% and 10%, which own 53% and 88% of the stock, respectively. It also fuels a self-reinforcing speculative mania that eventually collapses under its own weight.
In a debt-saturated system, the Fed’s massive bond purchases never transmit anything outside the canyons of Wall Street. This money-printing madness only drives bond prices higher and cap rates lower. This means relentless and systematic inflation of financial asset prices.
As a practical matter, the bottom 90% don’t own enough stock or even inflated government and corporate bonds to shake a stick at. Instead, what meager savings they have accumulated languish in bank deposits, CDs, or money market funds earning exactly what the Fed has decreed—nothing!
So, when Powell says he’s only trying to help the average American, you have to wonder whether he is just stupid or the greatest lying fraud yet to occupy the Fed’s big chair.
It doesn’t matter why. The Fed is now a rogue institution that comprises a clear and present danger to the future of prosperity and liberty in America.
Reprinted with permission from International Man.
The Best of David Stockman


lewrockwell--2020-09-05--Novichok, Navalny, Nordstream, Nonsense

Novichok, Navalny, Nordstream, Nonsense

Once Navalny was in Berlin it was only a matter of time before it was declared that he was poisoned with Novichok .
The Russophobes are delighted .
This of course eliminates all vestiges of doubt about what happened to the Skripals , and proves that Russia must be isolated and sanctioned to death and we must spend untold billions on weapons and security services .
We must also increase domestic surveillance , crack down on dissenting online opinion .
It also proves that Donald Trump is a Russian puppet and Brexit is a Russian plot .
I am going @ @ @ @ @ @ @ am a Russian troll by asking the question Cui Bono ?
, brilliantly identified by the Integrity Initiative ’ s Ben Nimmo as a sure sign of Russian influence .
I should state that I have no difficulty at all with the notion that a powerful oligarch or an organ of the Russian state may have tried to assassinate Navalny .
He is a minor irritant , rather more famous here than in Russia , but not being a major threat does not protect you against political assassination in Russia .
Barbuzzo 50 @ @ @ @ @ @ @ $ 9.00 Buy New $ 14.99 What I do have difficulty with is the notion that if Putin , or other very powerful Russian actors , wanted Navalny dead , and had attacked him while he was in Siberia , he would not be alive in Germany today .
If Putin wanted him dead , he would be dead .
Let us first take the weapon of attack .
One thing we know about a “ Novichok ” for sure is that it appears not to be very good at assassination .
Poor @ @ @ @ @ @ @ to have allegedly died from “ Novichok ” , accidentally according to the official narrative .
“ Novichok ” did not kill the Skripals , the actual target .
If Putin wanted Navalny dead , he would try something that works .
Like a bullet to the head , or an actually deadly poison .
“ Novichok ” is not a specific chemical .
It is a class of chemical weapon designed to be improvised in the field from common domestic or industrial precursors .
It makes some sense to use on foreign @ @ @ @ @ @ @ the actual nerve agent , and may be able to buy the ingredients locally .
But it makes no sense at all in your own country , where the FSB or GRU can swan around with any deadly weapon they wish , to be making homemade nerve agents in the sink .
Why would you do that ?
Further we are expected to believe that , the Russian state having poisoned Navalny , the Russian state then allowed the airplane he was traveling in , on a domestic flight , to divert to @ @ @ @ @ @ @ landing , so he could be rushed to hospital .
If the Russian secret services had poisoned Navalny at the airport before takeoff as alleged , why would they not insist the plane stick to its original flight plan and let him die on the plane ?
They would have foreseen what would happen to the plane he was on .
Nein T shirt German No ... Buy New $ 15.98 Next , we are supposed to believe that the Russian state , having poisoned Navalny , was not able to contrive his @ @ @ @ @ @ @ a Russian state hospital .
We are supposed to believe that the evil Russian state was able to falsify all his toxicology tests and prevent doctors telling the truth about his poisoning , but the evil Russian state lacked the power to switch off the ventilator for a few minutes or slip something into his drip .
In a Russian state hospital .
Next we are supposed to believe that Putin , having poisoned Navalny with novichok , allowed him to be flown to Germany to be saved , making it certain the @ @ @ @ @ @ @ Putin did this because he was worried Merkel was angry , not realising she might be still more angry when she discovered Putin had poisoned him with novichok There are a whole stream of utterly unbelievable points there , every single one of which you have to believe to go along with the western narrative .
Personally I do not buy a single one of them , but then I am a notorious Russophile traitor .
Funny Russian Accent R ... Buy New $ 16.99 The United States is very keen indeed to @ @ @ @ @ @ @ pipeline , which will supply Russian gas to Germany on a massive scale , sufficient for about 40 % of its electricity generation .
Personally I am opposed to Nord Stream 2 myself , on both environmental and strategic grounds .
I would much rather Germany put its formidable industrial might into renewables and self-sufficiency .
But my reasons are very different from those of the USA , which is concerned about the market for liquefied gas to Europe for US produces and for the Gulf allies of the US .
Key decisions @ @ @ @ @ @ @ are now in train in Germany .
The US and Saudi Arabia have every reason to instigate a split between Germany and Russia at this time .
Navalny is certainly a victim of international politics .
That he is a victim of Putin I tend to doubt .
The UK state is of course currently trying to silence one small bubble of dissent by imprisoning me , so you will not have access to another minor but informed view of world events for you to consider .
Yesterday I launched a renewed appeal @ @ @ @ @ @ @ the Contempt of Court action against me for my reporting of the attempted fit-up of Alex Salmond .
I should be extremely grateful if you can contribute to my defence fund , or subscribe to my blog .

Once Navalny was in Berlin it was only a matter of time before it was declared that he was poisoned with Novichok. The Russophobes are delighted. This of course eliminates all vestiges of doubt about what happened to the Skripals, and proves that Russia must be isolated and sanctioned to death and we must spend untold billions on weapons and security services. We must also increase domestic surveillance, crack down on dissenting online opinion. It also proves that Donald Trump is a Russian puppet and Brexit is a Russian plot.
I am going to prove beyond all doubt that I am a Russian troll by asking the question Cui Bono?, brilliantly identified by the Integrity Initiative’s Ben Nimmo as a sure sign of Russian influence.
I should state that I have no difficulty at all with the notion that a powerful oligarch or an organ of the Russian state may have tried to assassinate Navalny. He is a minor irritant, rather more famous here than in Russia, but not being a major threat does not protect you against political assassination in Russia.
Barbuzzo 50 Cal Shot G... Best Price: $9.00 Buy New $14.99 (as of 07:28 UTC - Details) What I do have difficulty with is the notion that if Putin, or other very powerful Russian actors, wanted Navalny dead, and had attacked him while he was in Siberia, he would not be alive in Germany today. If Putin wanted him dead, he would be dead.
Let us first take the weapon of attack. One thing we know about a “Novichok” for sure is that it appears not to be very good at assassination. Poor Dawn Sturgess is the only person ever to have allegedly died from “Novichok”, accidentally according to the official narrative. “Novichok” did not kill the Skripals, the actual target. If Putin wanted Navalny dead, he would try something that works. Like a bullet to the head, or an actually deadly poison.
“Novichok” is not a specific chemical. It is a class of chemical weapon designed to be improvised in the field from common domestic or industrial precursors. It makes some sense to use on foreign soil as you are not carrying around the actual nerve agent, and may be able to buy the ingredients locally. But it makes no sense at all in your own country, where the FSB or GRU can swan around with any deadly weapon they wish, to be making homemade nerve agents in the sink. Why would you do that?
Further we are expected to believe that, the Russian state having poisoned Navalny, the Russian state then allowed the airplane he was traveling in, on a domestic flight, to divert to another airport, and make an emergency landing, so he could be rushed to hospital. If the Russian secret services had poisoned Navalny at the airport before takeoff as alleged, why would they not insist the plane stick to its original flight plan and let him die on the plane? They would have foreseen what would happen to the plane he was on. Nein T shirt German No... Buy New $15.98 (as of 07:28 UTC - Details)
Next, we are supposed to believe that the Russian state, having poisoned Navalny, was not able to contrive his death in the intensive care unit of a Russian state hospital. We are supposed to believe that the evil Russian state was able to falsify all his toxicology tests and prevent doctors telling the truth about his poisoning, but the evil Russian state lacked the power to switch off the ventilator for a few minutes or slip something into his drip. In a Russian state hospital.
Next we are supposed to believe that Putin, having poisoned Navalny with novichok, allowed him to be flown to Germany to be saved, making it certain the novichok would be discovered. And that Putin did this because he was worried Merkel was angry, not realising she might be still more angry when she discovered Putin had poisoned him with novichok
There are a whole stream of utterly unbelievable points there, every single one of which you have to believe to go along with the western narrative. Personally I do not buy a single one of them, but then I am a notorious Russophile traitor.
Funny Russian Accent R... Buy New $16.99 (as of 07:28 UTC - Details) The United States is very keen indeed to stop Germany completing the Nord Stream 2 pipeline, which will supply Russian gas to Germany on a massive scale, sufficient for about 40% of its electricity generation. Personally I am opposed to Nord Stream 2 myself, on both environmental and strategic grounds. I would much rather Germany put its formidable industrial might into renewables and self-sufficiency. But my reasons are very different from those of the USA, which is concerned about the market for liquefied gas to Europe for US produces and for the Gulf allies of the US. Key decisions on the completion of Nord Stream 2 are now in train in Germany.
The US and Saudi Arabia have every reason to instigate a split between Germany and Russia at this time. Navalny is certainly a victim of international politics. That he is a victim of Putin I tend to doubt.
The UK state is of course currently trying to silence one small bubble of dissent by imprisoning me, so you will not have access to another minor but informed view of world events for you to consider. Yesterday I launched a renewed appeal for funds for my legal defence in the Contempt of Court action against me for my reporting of the attempted fit-up of Alex Salmond. I should be extremely grateful if you can contribute to my defence fund, or subscribe to my blog.
Reprinted with the author’s permission.


lewrockwell--2020-09-05--The Lancet Rules Russian Covid-19 Vaccine ‘Safe and Effective’

Dr. Scott Gottlieb might soon be forced to eat his words.Trial results reported Friday by the Lancet , the British @ @ @ @ @ some of the earliest research on the coronavirus , found that Russia ’ s Gameleya @ @ @ @ @ effective and safe , though scientists cautioned that long-term study is still required.The vaccine , @ @ @ @ @ an antibody response in all test subjects while causing no serious adverse effects .
The @ @ @ @ @ of legitimacy for the vaccine developed by the world-reknowned Gameleya Institute , and show how @ @ @ @ @ expressed by some in the West might have been premature.The Lancet broke down the results @ @ @ @ @ tweets published by its official twitter account .
Russian officials maintain that the vaccine will @ @ @ @ @ emergency basis in late October or early November .
President Trump is desperately scrambling for @ @ @ @ @ can be credibly approved on an emergency basis , so he can say the same @ @ @ @ @ US… The Best of Tyler Durden

Dr. Scott Gottlieb might soon be forced to eat his words.Trial results reported Friday by the Lancet, the British medical journal responsible for publishing some of the earliest research on the coronavirus, found that Russia’s Gameleya Institute-developed SARS-CoV-2 vaccine is both effective and safe, though scientists cautioned that long-term study is still required.The vaccine, the researchers found, produced an antibody response in all test subjects while causing no serious adverse effects. The results mark the latest stamp of legitimacy for the vaccine developed by the world-reknowned Gameleya Institute, and show how the early and intense skepticism expressed by some in the West might have been premature.The Lancet broke down the results in a series of eight tweets published by its official twitter account.
The new paper reports the findings of two open-label, non-randomised phase 1/2 trials looking at a frozen formulation and a freeze-dried formulation of a two-part #COVID19 vaccine (2/8) pic.twitter.com/fcYqgpjfsl — The Lancet (@TheLancet) September 4, 2020
The two 42-day trials also confirmed that the vaccine candidates elicit an antibody response (6/8) pic.twitter.com/dPxWT9CCrL — The Lancet (@TheLancet) September 4, 2020
Russian officials maintain that the vaccine will be made available on an emergency basis in late October or early November. President Trump is desperately scrambling for a US vaccine alternative that can be credibly approved on an emergency basis, so he can say the same.
Meanwhile, in the US…
Johnson & Johnson says their experimental coronavirus vaccine prevented hamsters from getting severely ill. $JNJ#WakeUpWithCheddar pic.twitter.com/1N4Njy47me — Cheddar🧀 (@cheddar) September 4, 2020
The Best of Tyler Durden


lewrockwell--2020-09-05--Why DC Statehood Is a Suicidal Gamble

Why DC Statehood Is a Suicidal Gamble

When U.S. cities erupted after the death of George Floyd , D.C. Mayor Muriel Bowser was in the vanguard of the protests , renaming a section of downtown Black Lives Matter Plaza , and painting the name in letters on the street so huge they could be seen from space .
Thursday , however , Bowser awoke to those same BLM protesters yelling outside her home , denouncing a “ D.C .
police murder of a Black Man , ” and demanding the mayor fire Police Chief Peter Newsham .
18-year-old Deon Kay had been shot and killed Wednesday afternoon @ @ @ @ @ @ @ this was the fifth shooting by D.C. cops this year , it was the first fatality .
Democracyu2019s Capita ... Pearlman , Lauren Best Price : $ 133.00 Buy New $ 19.52 There have been 130 other homicides in D.C. in 2020 , mostly of Black folks that involved other Black folks , and not the cops .
“ We believe the suspect had a gun at the time , ” Newsham told reporters .
Witnesses challenged the chief ’ s claim .
But this is only the latest problem bedeviling Bowser .
@ @ @ @ @ @ @ agitators ” for the mayhem in the city , the Washington Times reports that 82 % of the 541 people arrested for riot-related crimes were residents of D.C. , Maryland or Virginia .
On Tuesday , the mayor ’ s office made national news by releasing a list of monuments and memorials in Washington that should be “ removed , replaced or contextualized.
” Among them are the Washington Monument , the Jefferson Memorial and Columbus ’ statue at Union Station .
D-C Statehood Logo Blu ... Buy New $ 18.99 The name @ @ @ @ @ @ @ from Bell Multicultural High School , Bowser ’ s working group said .
Like Winston Churchill and Justice Oliver Wendell Holmes , the inventor of the telephone believed in eugenics .
Presidents James Madison , author of the Constitution , John Tyler , who annexed Texas , and Zachary Taylor , who led the U.S. army to victory in the Mexican-American War , are also candidates for having their memorials and monuments “ replaced , removed or contextualized.
” Woodrow Wilson ’ s name should be removed from Wilson high , and the @ @ @ @ @ @ @ author of the national anthem Francis Scott Key should be erased from buildings named in their honor .
Eleanor Holmes Norton , the D.C. nonvoting representative in Congress , explained that the working group formed by Bowers to look into monuments and memorials did not mean the statues were to be pulled down but that plaques should be added informing visitors that these sites are dedicated to men who had a perverted view of human rights .
GEER Head Mask Full Fa ... Buy New $ 79.99 Norton wants the Emancipation Proclamation statue @ @ @ @ @ @ @ , unveiled at an 1876 ceremony attended by President Grant , at which Frederick Douglass spoke , removed .
She also wants the statue of Andrew Jackson in Lafayette Square removed .
Yet , it was General Jackson who saved the Union from being torn apart at the 1815 Battle of New Orleans , while the defenders of Washington and the White House fled from the attacking British , letting the nation ’ s capital be burned in August of 1814 .
D.C. officials are today running away from the plans of the @ @ @ @ @ @ @ those plans testify powerfully to what an act of folly and a capitulation to political correctness it would be for the Congress to vote statehood for D.C. , as Nancy Pelosi ’ s House did this year .
D.C. is unrepresentative of America and undeserving in any way to be raised to statehood .
Since given the franchise 60 years ago , it has never voted Republican for president .
Its three electoral votes have gone to the Democrats in every election since LBJ in ’ 64 .
Republican nominee Donald Trump got @ @ @ @ @ @ @ Hillary Clinton got 90 % , a margin of 22-1 .
DC Statehood Tank Top Buy New $ 19.99 Moreover , D.C. has a smaller population than 19 other American cities and is smaller in geographic size than 150 other U.S. cities .
Rhode Island , our smallest state , is geographically 20 times the size of D.C .
The D.C. government has been in the headlines countless times for personal scandals and financial crises .
One four-term mayor , Marion Barry , was sent to prison and returned to be reelected to @ @ @ @ @ @ @ , the problem is not that they are named for presidents but that they produce some of the lowest test scores in the nation .
More significant , as the protests , attended by riots since May , have shown , the D.C. government , a hostile province when a Republican is in the White House , is the domicile of a permanent regime of leftist and radical media , tens of thousands of federal and city bureaucrats , lawyers and lobbyists , all yoked to big government .
As the “ peaceful @ @ @ @ @ @ @ , with Georgetown sacked and statues demolished , D.C. ’ s government is an incompetent custodian of the nation ’ s historic monuments and memorials , and incapable of protecting the White House .
What does Joe Biden , who approved of the removal of statues of Confederate soldiers , generals and statesmen , think of D.C. ’ s scheme to “ remove , replace or contextualize ” the statues of so many men who held the office he now seeks ?
The Best of Patrick J. Buchanan

Shop all books by Pat Buchanan
When U.S. cities erupted after the death of George Floyd, D.C. Mayor Muriel Bowser was in the vanguard of the protests, renaming a section of downtown Black Lives Matter Plaza, and painting the name in letters on the street so huge they could be seen from space.
Thursday, however, Bowser awoke to those same BLM protesters yelling outside her home, denouncing a “D.C. police murder of a Black Man,” and demanding the mayor fire Police Chief Peter Newsham.
18-year-old Deon Kay had been shot and killed Wednesday afternoon in an encounter with cops. While this was the fifth shooting by D.C. cops this year, it was the first fatality. Democracyu2019s Capita... Pearlman, Lauren Best Price: $133.00 Buy New $19.52 (as of 07:33 UTC - Details)
There have been 130 other homicides in D.C. in 2020, mostly of Black folks that involved other Black folks, and not the cops.
“We believe the suspect had a gun at the time,” Newsham told reporters. Witnesses challenged the chief’s claim.
But this is only the latest problem bedeviling Bowser.
While she has been blaming “outside agitators” for the mayhem in the city, the Washington Times reports that 82% of the 541 people arrested for riot-related crimes were residents of D.C., Maryland or Virginia.
On Tuesday, the mayor’s office made national news by releasing a list of monuments and memorials in Washington that should be “removed, replaced or contextualized.” Among them are the Washington Monument, the Jefferson Memorial and Columbus’ statue at Union Station. D-C Statehood Logo Blu... Buy New $18.99 (as of 07:33 UTC - Details)
The name of Alexander Graham Bell should be erased from Bell Multicultural High School, Bowser’s working group said. Like Winston Churchill and Justice Oliver Wendell Holmes, the inventor of the telephone believed in eugenics.
Presidents James Madison, author of the Constitution, John Tyler, who annexed Texas, and Zachary Taylor, who led the U.S. army to victory in the Mexican-American War, are also candidates for having their memorials and monuments “replaced, removed or contextualized.”
Woodrow Wilson’s name should be removed from Wilson high, and the names of Founding Father Ben Franklin and author of the national anthem Francis Scott Key should be erased from buildings named in their honor.
Eleanor Holmes Norton, the D.C. nonvoting representative in Congress, explained that the working group formed by Bowers to look into monuments and memorials did not mean the statues were to be pulled down but that plaques should be added informing visitors that these sites are dedicated to men who had a perverted view of human rights.
GEER Head Mask Full Fa... Buy New $79.99 (as of 04:45 UTC - Details) Norton wants the Emancipation Proclamation statue featuring Abe Lincoln and an unshackled slave, unveiled at an 1876 ceremony attended by President Grant, at which Frederick Douglass spoke, removed. She also wants the statue of Andrew Jackson in Lafayette Square removed.
Yet, it was General Jackson who saved the Union from being torn apart at the 1815 Battle of New Orleans, while the defenders of Washington and the White House fled from the attacking British, letting the nation’s capital be burned in August of 1814.
D.C. officials are today running away from the plans of the mayor’s working group, but those plans testify powerfully to what an act of folly and a capitulation to political correctness it would be for the Congress to vote statehood for D.C., as Nancy Pelosi’s House did this year.
D.C. is unrepresentative of America and undeserving in any way to be raised to statehood. Since given the franchise 60 years ago, it has never voted Republican for president. Its three electoral votes have gone to the Democrats in every election since LBJ in ’64. Republican nominee Donald Trump got 4% of the D.C. vote. Hillary Clinton got 90%, a margin of 22-1. DC Statehood Tank Top Buy New $19.99 (as of 07:33 UTC - Details)
Moreover, D.C. has a smaller population than 19 other American cities and is smaller in geographic size than 150 other U.S. cities. Rhode Island, our smallest state, is geographically 20 times the size of D.C.
The D.C. government has been in the headlines countless times for personal scandals and financial crises. One four-term mayor, Marion Barry, was sent to prison and returned to be reelected to office.
As for D.C. public schools, the problem is not that they are named for presidents but that they produce some of the lowest test scores in the nation.
More significant, as the protests, attended by riots since May, have shown, the D.C. government, a hostile province when a Republican is in the White House, is the domicile of a permanent regime of leftist and radical media, tens of thousands of federal and city bureaucrats, lawyers and lobbyists, all yoked to big government.
As the “peaceful protests” of June and July showed, with Georgetown sacked and statues demolished, D.C.’s government is an incompetent custodian of the nation’s historic monuments and memorials, and incapable of protecting the White House.
What does Joe Biden, who approved of the removal of statues of Confederate soldiers, generals and statesmen, think of D.C.’s scheme to “remove, replace or contextualize” the statues of so many men who held the office he now seeks?
The Best of Patrick J. Buchanan


lewrockwell--2020-09-07--The State’s Response to This ‘Virus’ Is Nothing More Than a Weapon of Mass Submission

“ The great masses of men , though theoretically free , are seen to submit supinely to oppression and exploitation of a hundred abhorrent sorts .
Have they no means of resistance ?
Obviously they have .
The worst tyrant , even under democratic plutocracy , has but one throat to slit .
The moment the majority decided to overthrow him he would be overthrown .
But the majority lacks the resolution ; it can not imagine taking the risks.
” Draconian measures by the State against the masses require the cooperation of the masses .
This is the essence @ @ @ @ @ @ @ it is the foundation of the ruling “ elite ’ s ” plan to achieve a complete global economic and total control reset .
At this stage of the plot , all is going just as the globalists expected , as the takeover of the human population is well underway .
Notes on Democracy ( La ... Mencken , H. L. Best Price : $ 13.00 Buy New $ 14.00 Logic would dictate that this fake pandemic should be over for good after the new CDC death figures for the U.S. were recently @ @ @ @ @ @ @ % of those said to have died from Covid alone did not die from Covid at all .
In fact , the 94 % that died who were claimed as Covid deaths had on average 2.6 other co-morbidities evident .
What that means is this entire virus scam was a fraud all along , and is being used as a weapon of submission in order to gain control over the entire population .
Lies on top of lies have been used to frighten people into voluntarily destroying their lives in the name of @ @ @ @ @ @ @ has reached levels that will be almost impossible to overcome at any time in the near or even distant future .
One would think that with this ground shattering information , all citizens would be up in arms , but that does not seem to be the case .
This is extremely troubling , as without a mass uprising of the people , this horrendous plan will continue to go forward .
It is now time to consider the possible tactics that will be used by the State against all of us , @ @ @ @ @ @ @ and refuse to comply with the idiocy that is called a coronavirus pandemic .
Hell is coming in the form of the ruling class and its pawns in government and their plan for a captured society .
Is there really a devil , or have evil men seeking power created Satin in their own image in an attempt to take over the entire planet for themselves ?
All the plans of these monsters are being telegraphed in advance , just as has always happened in the past .
Creating a new Pearl Harbor @ @ @ @ @ @ @ with this manufactured virus scare , but it will only get worse from here .
It is imperative to understand that nothing happening is organic or natural ; it has all been purposely designed to achieve a particular outcome .
That outcome is total world domination by the few , and in order to be successful in this venture , the current economic system must be destroyed , and a new digital monetary system that can be monitored and controlled from the top must be created and implemented .
Even though the CDC @ @ @ @ @ @ @ mainstream narrative , and show that this pandemic is a fraud , it is still little reported , and it seems that many would pay no attention to this revelation even if it were reported more widely .
This alone shows the weakness and apathetic mindset that permeates the American populace today .
Considering the attitude of the masses , and the lack of reason and logic evident among the herd , what is coming should be obvious .
The powerful will not relent so long as the people remain indifferent to their @ @ @ @ @ @ @ , expect a wave of new and exaggerated fear mongering techniques .
The more the people rebel , if at all , the stronger any response by the state apparatus will be .
If enough question the validity of this virus pandemic , a new and more dangerous strain will magically emerge .
If resistance continues to gain favor , then a new and possibly deadly biological agent could be released , although it would need to be isolated so as to not get out of hand and threaten those responsible for its @ @ @ @ @ @ @ flu season , along with a very weakened immune response of the now compromised citizenry does not keep the people in check , the release of other toxic agents is not only possible in my opinion , but also probable .
The Origins of Totalit ... Hannah Arendt Best Price : $ 8.49 Buy New $ 12.90 There are many scenarios that could emerge depending on what the ruling and controlling classes deem necessary in order to gain and retain total control .
Once the people are frightened enough , the new vaccine @ @ @ @ @ @ @ my belief that this vaccine is already available , and is being held until fear is at such a high level that most will voluntarily line up for injection .
If this happens , control over the people will have reached a stage that is irreversible due to multiple reasons .
Any Covid vaccine will introduce several viruses into the human system , and in addition , many very dangerous and problematic toxins and harmful adjuvants .
But that is only part of the risk , as there could be other unknown ingredients @ @ @ @ @ @ @ a part of a covert plan not divulged to the recipients of any vaccine .
Just recently in this article from Steemit , it was announced that the FDA is nearing approval of a biochip implant that could be injected by use of a hydrogel solution .
This is supposedly an implant to detect Covid by linking the human body and mind to a computer system , and could easily be a part of any vaccine .
This is insanity , but is only the beginning of any number of body and mind @ @ @ @ @ @ @ a transhuman society that could be controlled through technocratic means .
Beware of any bio-terror attack blamed on an outside enemy , whether an individual , a third world country , or any mainstream claimed enemy of the U.S. such as China , Iran , or Russia .
An attack of this nature now would most assuredly be from within this country , and perpetrated by internal forces to stoke more fear .
That additional fear , and any bio-weapon release meant to look like a virus could be claimed to be the @ @ @ @ @ @ @ would turn most of the country against any that question the official narrative .
Those exposing the lie that is Covid and resisting the state mandates would be severely marginalized or worse if total fear grips America .
With resistance beginning to grow due to the draconian measures initiated by the state , including lockdowns , quarantine , job loss , and mask wearing , the risk of additional manufactured terror attacks , virus releases , bio-weapon deployment , other false flag events , or vaccine-related illnesses certainly should be expected .
This @ @ @ @ @ @ @ a dystopia brought about because the people allowed it to happen .
Paine : Political Writi ... Paine , Thomas Best Price : $ 0.64 Buy New $ 12.95 The turning point of all this insanity is near , and will advance in the state ’ s favor during this farce called the presidential election .
This election will bring with it untold chaos , including looting , rioting , property destruction , and hatred among the population at large .
This chaos will be used against all in this country , as @ @ @ @ @ @ @ and with it , more uncertainty and violence , leading to more state interference in our lives .
This is exactly what the claimed ruling elite desires , as the more fear and hatred that exists , the easier it is to control us all .
This abhorrent election , regardless of the outcome , will be a disaster , and only extend the terror we have been facing since March of this year .
The push toward totalitarian rule is heading into the final stage this winter .
That has been proclaimed @ @ @ @ @ @ @ and political classes .
We are on the verge of losing any sovereignty we have left , and becoming just a cog in the wheel of a centralized federal power structure bent on creating a technocratic slave society to be used to support the top tier of the tyrannical few .
Stop it now or submit your body , mind , and soul to your new position as a servant to your ‘ human ’ masters .
“ The slavery of fear had made men afraid to think.
” The Best of Gary @ @

“The great masses of men, though theoretically free, are seen to submit supinely to oppression and exploitation of a hundred abhorrent sorts. Have they no means of resistance? Obviously they have. The worst tyrant, even under democratic plutocracy, has but one throat to slit. The moment the majority decided to overthrow him he would be overthrown. But the majority lacks the resolution; it cannot imagine taking the risks.”
~ H. L. Mencken (1926). “Notes on Democracy,” p. 50, Alfred A. Knopf
Draconian measures by the State against the masses require the cooperation of the masses. This is the essence of political submission, and therefore, it is the foundation of the ruling “elite’s” plan to achieve a complete global economic and total control reset. At this stage of the plot, all is going just as the globalists expected, as the takeover of the human population is well underway.
Notes on Democracy (La... Mencken, H. L. Best Price: $13.00 Buy New $14.00 (as of 03:44 UTC - Details) Logic would dictate that this fake pandemic should be over for good after the new CDC death figures for the U.S. were recently exposed. That report showed that 94% of those said to have died from Covid alone did not die from Covid at all. In fact, the 94% that died who were claimed as Covid deaths had on average 2.6 other co-morbidities evident. What that means is this entire virus scam was a fraud all along, and is being used as a weapon of submission in order to gain control over the entire population. Lies on top of lies have been used to frighten people into voluntarily destroying their lives in the name of false safety, and now the damage has reached levels that will be almost impossible to overcome at any time in the near or even distant future. One would think that with this ground shattering information, all citizens would be up in arms, but that does not seem to be the case. This is extremely troubling, as without a mass uprising of the people, this horrendous plan will continue to go forward.
It is now time to consider the possible tactics that will be used by the State against all of us, especially those that continue to question, and refuse to comply with the idiocy that is called a coronavirus pandemic. Hell is coming in the form of the ruling class and its pawns in government and their plan for a captured society. Is there really a devil, or have evil men seeking power created Satin in their own image in an attempt to take over the entire planet for themselves?
All the plans of these monsters are being telegraphed in advance, just as has always happened in the past. Creating a new Pearl Harbor has taken on a whole new meaning with this manufactured virus scare, but it will only get worse from here. It is imperative to understand that nothing happening is organic or natural; it has all been purposely designed to achieve a particular outcome. That outcome is total world domination by the few, and in order to be successful in this venture, the current economic system must be destroyed, and a new digital monetary system that can be monitored and controlled from the top must be created and implemented.
Even though the CDC released death numbers that completely contradict the mainstream narrative, and show that this pandemic is a fraud, it is still little reported, and it seems that many would pay no attention to this revelation even if it were reported more widely. This alone shows the weakness and apathetic mindset that permeates the American populace today.
Considering the attitude of the masses, and the lack of reason and logic evident among the herd, what is coming should be obvious. The powerful will not relent so long as the people remain indifferent to their own existence. With that in mind, expect a wave of new and exaggerated fear mongering techniques. The more the people rebel, if at all, the stronger any response by the state apparatus will be. If enough question the validity of this virus pandemic, a new and more dangerous strain will magically emerge. If resistance continues to gain favor, then a new and possibly deadly biological agent could be released, although it would need to be isolated so as to not get out of hand and threaten those responsible for its distribution among the public. If the flu season, along with a very weakened immune response of the now compromised citizenry does not keep the people in check, the release of other toxic agents is not only possible in my opinion, but also probable. The Origins of Totalit... Hannah Arendt Best Price: $8.49 Buy New $12.90 (as of 06:35 UTC - Details)
There are many scenarios that could emerge depending on what the ruling and controlling classes deem necessary in order to gain and retain total control. Once the people are frightened enough, the new vaccine will be immediately introduced. It is my belief that this vaccine is already available, and is being held until fear is at such a high level that most will voluntarily line up for injection. If this happens, control over the people will have reached a stage that is irreversible due to multiple reasons. Any Covid vaccine will introduce several viruses into the human system, and in addition, many very dangerous and problematic toxins and harmful adjuvants. But that is only part of the risk, as there could be other unknown ingredients as well, and these could be a part of a covert plan not divulged to the recipients of any vaccine.
Just recently in this article from Steemit, it was announced that the FDA is nearing approval of a biochip implant that could be injected by use of a hydrogel solution. This is supposedly an implant to detect Covid by linking the human body and mind to a computer system, and could easily be a part of any vaccine. This is insanity, but is only the beginning of any number of body and mind altering artificial intelligence methods meant to produce a transhuman society that could be controlled through technocratic means.
Beware of any bio-terror attack blamed on an outside enemy, whether an individual, a third world country, or any mainstream claimed enemy of the U.S. such as China, Iran, or Russia. An attack of this nature now would most assuredly be from within this country, and perpetrated by internal forces to stoke more fear. That additional fear, and any bio-weapon release meant to look like a virus could be claimed to be the pre-planned second wave, and this alone would turn most of the country against any that question the official narrative. Those exposing the lie that is Covid and resisting the state mandates would be severely marginalized or worse if total fear grips America.
With resistance beginning to grow due to the draconian measures initiated by the state, including lockdowns, quarantine, job loss, and mask wearing, the risk of additional manufactured terror attacks, virus releases, bio-weapon deployment, other false flag events, or vaccine-related illnesses certainly should be expected. This is the world we live in, a dystopia brought about because the people allowed it to happen. Paine: Political Writi... Paine, Thomas Best Price: $0.64 Buy New $12.95 (as of 02:41 UTC - Details)
The turning point of all this insanity is near, and will advance in the state’s favor during this farce called the presidential election. This election will bring with it untold chaos, including looting, rioting, property destruction, and hatred among the population at large. This chaos will be used against all in this country, as even more division will be forthcoming, and with it, more uncertainty and violence, leading to more state interference in our lives. This is exactly what the claimed ruling elite desires, as the more fear and hatred that exists, the easier it is to control us all. This abhorrent election, regardless of the outcome, will be a disaster, and only extend the terror we have been facing since March of this year.
The push toward totalitarian rule is heading into the final stage this winter. That has been proclaimed openly by the dregs of the ruling and political classes. We are on the verge of losing any sovereignty we have left, and becoming just a cog in the wheel of a centralized federal power structure bent on creating a technocratic slave society to be used to support the top tier of the tyrannical few. Stop it now or submit your body, mind, and soul to your new position as a servant to your ‘human’ masters.
“The slavery of fear had made men afraid to think.”
Thomas Paine, Bruce Kuklick (2000). “Paine: Political Writings”, p.162, Cambridge University Press
The Best of Gary D. Barnett


lewrockwell--2020-09-07--Rothbard and Double Restitution

Rothbard and Double Restitution

Murray Rothbard ’ s theory of punishment has often been misunderstood .
Economists who have written on punishment and mentioned Rothbard find his “ double restitution ” idea puzzling , because they think about it only in terms of economic efficiency .
This isn ’ t what he has in mind .
He is combining economics and moral philosophy .
Many economists reason in this way .
Suppose we have a society in which the penalty for theft is that you have to return the item you stole .
If you no longer have the item , you have to @ @ @ @ @ @ @ In that case , a thief has nothing to lose if he is caught , and something to gain if he isn ’ t caught .
In other words , if the thief is motivated by self-interest , he should steal when he thinks he can get away with it .
He has at least some chance of succeeding .
In “ Punishment and Proportionality , ” Rothbard acknowledges this argument : “ if there were no punishment for crime at all , a great number of people would commit petty theft , @ @ @ @ @ @ @ ” But he rejects a pure deterrence principle of punishment : The Ethics of Proporti ... Ryberg , Jesper Buy New $ 143.95 most people have a far greater built-in inner objection to themselves committing murder than they have to petty shoplifting , and would be far less apt to commit the grosser crime .
Therefore , if the object of punishment is to deter from crime , then a far greater punishment would be required for preventing shoplifting than for preventing murder , a system that goes against most people ’ s @ @ @ @ @ @ @ with deterrence as the criterion there would have to be stringent capital punishment for petty thievery — for the theft of bubble gum — while murderers might only incur the penalty of a few months in jail .
His view of punishment is different .
The victim can do to the criminal what the criminal did to him .
This is the famous “ double restitution ” principle : If , then , we are to say that the criminal loses rights to the extent that he deprives the victim , then we @ @ @ @ @ @ @ only have to return the $ 15,000 , but that he must be forced to pay the victim another $ 15,000 , so that he , in turn , loses those rights ( to $ 15,000 worth of property ) which he had taken from the victim .
In the case of theft , then , we may say that the criminal must pay double the extent of theft : once , for restitution of the amount stolen , and once again for loss of what he had deprived another .
This puzzles @ @ @ @ @ @ @ that this theory is arbitrary : Why not threefold restitution , or tenfold ?
Instead , these economists want to calibrate punishment so that we have the economically “ efficient ” amount of deterrence .
What these critics fail to see is that Rothbard ’ s theory is based on a moral principle : ( Murray credits Walter Block for the latter expression . )
Obviously , double restitution has a deterrent effect , but that isn ’ t its rationale .
If you keep this in mind , it ’ s obvious @ @ @ @ @ @ @ some higher amount .
It ’ s a basic moral principle , he thinks , that punishment should be proportional to the crime : The proportionality rule tells us how much punishment a plaintiff may exact from a convicted wrongdoer , and no more ; it imposes the maximum limit on punishment that may be inflicted before the punisher himself becomes a criminal aggressor .
Thus , it should be quite clear that , under libertarian law , capital punishment would have to be confined strictly to the crime of murder .
For @ @ @ @ @ @ @ to life if he had first deprived some victim of that same right .
It would not be permissible , then , for a merchant whose bubble gum had been stolen , to execute the convicted bubble gum thief .
If he did so , then he , the merchant , would be an unjustifiable murderer , who could be brought to the bar of justice by the heirs or assigns of the bubble gum thief .
The Rothbard Reader Murray N Rothbard Best Price : $ 11.66 Buy New $ 12.73 Now @ @ @ @ @ @ @ .
Isn ’ t it obvious that retributive theories of punishment are wrong ?
The most important argument in favor of this view starts from the premise that pain is bad .
The pain that the criminal causes the victim is bad , and adding to that pain is also bad .
Punishment is inflicting pain .
It may be necessary to inflict it to achieve some goal such as deterrence , but in itself punishment is bad .
Retributive punishment , since it is carried out for its own sake , is @ @ @ @ @ @ @ philosophically very interesting way to respond to this argument .
I ’ ll leave it to readers to assess how much merit this response has , but I do think it ’ s worth considering .
A key assumption of the anti-retribution argument is that the badness of pain is always additive .
( No , that isn ’ t a misprint for “ addictive.
” ) If you combine the pain of the punishment with the pain caused by the crime , you will increase the total amount of pain .
But @ @ @ @ @ @ @ pointed out , it ’ s an intelligible view that this decreases , rather than increases , the badness of this state of affairs .
You might think that the whole composed of the pain caused by the crime plus the pain caused by retribution is better than the badness of the pain of the crime by itself , even though of course the amount of pain increases with retribution .
We can view retribution , according to Brentano , as taking away part of the badness of the situation , even though—or @ @ @ @ @ @ @ you think about this , you will see that this view can be used to undermine certain forms of utilitarianism as well .
As usual , Rothbard opens up depths that lesser economists ignore .
Note : The views expressed on Mises.org are not necessarily those of the Mises Institute .
The Best of David Gordon

Murray Rothbard’s theory of punishment has often been misunderstood. Economists who have written on punishment and mentioned Rothbard find his “double restitution” idea puzzling, because they think about it only in terms of economic efficiency. This isn’t what he has in mind. He is combining economics and moral philosophy.
Many economists reason in this way. Suppose we have a society in which the penalty for theft is that you have to return the item you stole. If you no longer have the item, you have to pay the monetary value of it. In that case, a thief has nothing to lose if he is caught, and something to gain if he isn’t caught. In other words, if the thief is motivated by self-interest, he should steal when he thinks he can get away with it. He has at least some chance of succeeding.
In “Punishment and Proportionality,” Rothbard acknowledges this argument: “if there were no punishment for crime at all, a great number of people would commit petty theft, such as stealing fruit from a fruit-stand.” But he rejects a pure deterrence principle of punishment: The Ethics of Proporti... Ryberg, Jesper Buy New $143.95 (as of 02:42 UTC - Details)
most people have a far greater built-in inner objection to themselves committing murder than they have to petty shoplifting, and would be far less apt to commit the grosser crime. Therefore, if the object of punishment is to deter from crime, then a far greater punishment would be required for preventing shoplifting than for preventing murder, a system that goes against most people’s ethical standards. As a result, with deterrence as the criterion there would have to be stringent capital punishment for petty thievery — for the theft of bubble gum — while murderers might only incur the penalty of a few months in jail.
His view of punishment is different. The victim can do to the criminal what the criminal did to him. This is the famous “double restitution” principle:
If, then, we are to say that the criminal loses rights to the extent that he deprives the victim, then we must say that the criminal should not only have to return the $15,000, but that he must be forced to pay the victim another $15,000, so that he, in turn, loses those rights (to $15,000 worth of property) which he had taken from the victim. In the case of theft, then, we may say that the criminal must pay double the extent of theft: once, for restitution of the amount stolen, and once again for loss of what he had deprived another.
This puzzles some economists. One of them wrote that this theory is arbitrary: Why not threefold restitution, or tenfold? Instead, these economists want to calibrate punishment so that we have the economically “efficient” amount of deterrence.
What these critics fail to see is that Rothbard’s theory is based on a moral principle:
It should be evident that our theory of proportional punishment — that people may be punished by losing their rights to the extent that they have invaded the rights of others — is frankly a retributive theory of punishment, a ‘tooth (or two teeth) for a tooth’ theory.
(Murray credits Walter Block for the latter expression.) Obviously, double restitution has a deterrent effect, but that isn’t its rationale.
If you keep this in mind, it’s obvious why he favors double restitution rather than some higher amount. It’s a basic moral principle, he thinks, that punishment should be proportional to the crime:
The proportionality rule tells us how much punishment a plaintiff may exact from a convicted wrongdoer, and no more; it imposes the maximum limit on punishment that may be inflicted before the punisher himself becomes a criminal aggressor. Thus, it should be quite clear that, under libertarian law, capital punishment would have to be confined strictly to the crime of murder. For a criminal would only lose his right to life if he had first deprived some victim of that same right. It would not be permissible, then, for a merchant whose bubble gum had been stolen, to execute the convicted bubble gum thief. If he did so, then he, the merchant, would be an unjustifiable murderer, who could be brought to the bar of justice by the heirs or assigns of the bubble gum thief.
The Rothbard Reader Rothbard, Murray N Best Price: $5.39 Buy New $12.95 (as of 07:47 UTC - Details) Now Rothbard has to face a new objection. Isn’t it obvious that retributive theories of punishment are wrong? The most important argument in favor of this view starts from the premise that pain is bad. The pain that the criminal causes the victim is bad, and adding to that pain is also bad. Punishment is inflicting pain. It may be necessary to inflict it to achieve some goal such as deterrence, but in itself punishment is bad. Retributive punishment, since it is carried out for its own sake, is thus bad.
There’s a philosophically very interesting way to respond to this argument. I’ll leave it to readers to assess how much merit this response has, but I do think it’s worth considering. A key assumption of the anti-retribution argument is that the badness of pain is always additive. (No, that isn’t a misprint for “addictive.”) If you combine the pain of the punishment with the pain caused by the crime, you will increase the total amount of pain. But, as the Austrian philosopher Franz Brentano pointed out, it’s an intelligible view that this decreases, rather than increases, the badness of this state of affairs. You might think that the whole composed of the pain caused by the crime plus the pain caused by retribution is better than the badness of the pain of the crime by itself, even though of course the amount of pain increases with retribution. We can view retribution, according to Brentano, as taking away part of the badness of the situation, even though—or rather because—the total pain increases. If you think about this, you will see that this view can be used to undermine certain forms of utilitarianism as well.
As usual, Rothbard opens up depths that lesser economists ignore.
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
The Best of David Gordon


lewrockwell--2020-09-07--A False Flag Is Biden’s Only Chance to Win

The Black Revolution is in full swing in the U.S. Over the next sixty days we will be treated to the greatest political show on Earth as the Democrats and their handlers in The Davos Crowd pursue the biggest lie since Climate Change .
The events of 2020 are lining up for a climax to this story that ends with only one outcome , a contested election which fuels a coup attempt after the election results come in on November 3rd .
And because of this now obvious plan , setting up a false flag around the election is the @ @ @ @ @ @ @ close enough to support this course of action .
I ’ m not the only one thinking in these terms at this point .
Joaquin Flores , writing for Fort Russ , mused similarly last week .
As the polls shift towards Donald Trump and the Democrats run around concocting fairy tales after allowing Joe Biden out of his gimp cellar long enough for people to see how far he has fallen mentally , I ’ m nearly convinced this is likely .
Ukraine ’ s Maidan ... Wynnyckyj , Mychailo Buy New @ @ @ @ @ @ @ stages .
The first stage is destroying the local economy .
Usually this means the Federal Reserve and the U.S. Treasury pull back on available dollars through tight monetary policy and sanctions to create mass unemployment in the target nation .
Then foment violence from the youth who are disproportionately affected by the economic destruction after NGO ’ s lay the ideological foundation for revolution .
Use the most convenient pretext .
In the U.S. it means stoking racism and hatred of ‘ the rich.
’ Pick a color under which to unite @ @ @ @ @ @ @ blame the leader for every single bad thing that happens , which is usually the work of agent provocateurs who amplify the organic frustration into targeted attacks which are then amped up by the media into a news story .
If the leader is stupid he acts like any garden-variety paranoid dictator by clamping down on the violence making him easy prey for the media to brand him a dictator .
Then bringing a mob to the capital is easy , because now there are too many people to be effectively policed and @ @ @ @ @ @ @ whole thing into a coup is very real .
All of this works if the oligarchs who run the political system of the target country are on board with this .
In the U.S. , it ’ s obvious from the response from all major corporations they approve this message .
Note how it failed in Belarus recently for lack of this corporate sponsorship .
Looking at the way the Democrats have positioned themselves for this election it is clear that they are preparing the field for this outcome after election day .
@ @ @ @ @ @ @ army of ready-made protestors with nothing else to do and little hope for the future .
False Flags , State Sec ... Hamilton , John Best Price : $ 20.08 Buy New $ 19.99 They structured all aid to the middle class the run out during the height of the election campaign while blocking any further assistance even though the Treasury Dept .
raised nearly $ 2 trillion to deploy as support and stimulus .
The media endlessly stoked fear over COVID-19 to push as many voters to consider mailing their votes in @ @ @ @ @ @ @ what will happen ) to delay certification of the election on election night .
But to his credit , President Trump hasn ’ t acted the way he was supposed to .
He has governed this chaos exactly the way a majority of Americans want him to , as a Federalist .
Even though he has the authority to do so , he ’ s refrained from sending Federal troops into rioting cities , laying bare just how much local authorities are aiding the violence .
He didn ’ t institute national lockdowns @ @ @ @ @ @ @ instead offering aid and allowing the data to eventually vindicate him to the point where even the CDC is now backtracking on how dangerous the virus actually is .
And his opponents in New York , for example , now look like out-of-touch , lying grandma murderers .
Eventually crisis fatigue sets in , people adjust to the new circumstances and the worst parts of their fear abates .
And even if they don ’ t look at the new data , they realize enough costs have been born and it ’ s @ @ @ @ @ @ @ .
That ’ s what is now showing up in the polling data , even though it is still highly suspect .
And this puts Trump in the driver ’ s seat for the election on November 3rd .
As of today , the election looks like it is his to lose .
And yet the Democrats insist that the election will not be resolved on election day .
In fact , it ’ s obvious they are prepping the narrative that Trump will only appear to win on election night but , @ @ @ @ @ @ @ ballots will change the outcome of the election over the next few days .
Of course , this would fly in the face of decades of electoral statistics where the outcome of the election is almost certainly decided by the time 25 % of the votes have been counted and a run-rate to completion can be calculated .
A report from Axios outlines what we can expect .
A top Democratic data and analytics firm told “ Axios on HBO ” it ’ s highly likely that President Trump will appear to have @ @ @ @ @ @ @ on election night , even if he ultimately loses when all the votes are counted .
Why this matters : Way more Democrats will vote by mail than Republicans , due to fears of the coronavirus , and it will take days if not weeks to tally these .
This means Trump , thanks to Republicans doing almost all of their voting in person , could hold big electoral college and popular vote leads on election night… .
… By the numbers : Under one of the group ’ s modeling scenarios , @ @ @ @ @ @ @ 408-130 electoral votes on election night , if only 15 % of the vote by mail ( VBM ) ballots had been counted .
And that ’ s what concerns me most .
Because if all of this prep work has failed and Trump clearly wins an electoral college victory , but they are planning to harvest votes for days afterwards , how do they shift the dynamic back in Biden ’ s favor between now and then to keep the election close enough for them to steal ?
More violence is how @ @ @ @ @ @ @ White House Siege beginning on September 17th .
Organized by Adbusters , which is a front for George Soros ’ partner in crime , David Brock and Media Matters For America , White House Siege is a planned 50-day protest in Lafayette Square in Washington D.C. , ostensibly to protest President Trump ‘ stealing the election.
’ This is a ready-made recipe for a Maidan-like orgy of violence in the nation ’ s capital to create a false flag event which reflects badly on Trump .
Think snipers on rooftops shooting both protestors @ @ @ @ @ @ @ the Maidan square in Kiev in 2014 .
Color Revolutions : Tec ... Karpovich , Oleg Best Price : $ 23.59 Buy New $ 14.27 D.C. is not a state .
It ’ s not governed by the same rules as the states , where the Governors are in charge .
Trump can , and in my mind should , as a matter of strategy , take control over D.C. to keep to possibility of violence to a minimum .
D.C. mayor Muriel Bowser is trying to walk back her support of the @ @ @ @ @ @ @ National Convention by urging U.S .
Attorneys in D.C. to charge the people the police arrest .
This is Bowser trying to publicly keep Trump from doing exactly what I just said he should do .
Because with cities looted and burned , with Democrat politicians losing the respect of their constituencies they have no political legs left to stand on .
Governor Andrew Cuomo in New York said in a press conference Trump better bring an army if he plans to set foot in his state .
This is tantamount to sedition @ @ @ @ @ @ @ made by nearly every major Democrat for statements made in the past six months .
Meanwhile Cuomo is now the target of a Dept .
of Justice investigation into his handling of the COVID-19 crisis while Trump withholds Federal funds from the state , which prompted Cuomo ’ s bravado .
Between this and Speaker Nancy Pelosi calling Republicans “ domestic enemies of the state ” is the kind of language you don ’ t come back from .
The Democrats and the U.S .
Deep Stat are all in on removing Trump @ @ @ @ @ @ @ I don ’ t think the worst of the violence is behind us after Kenosha .
I think the worst is still in front of us .
The views of individual contributors do not necessarily represent those of the Strategic Culture Foundation .
The Best of Thomas Luongo

The Black Revolution is in full swing in the U.S. Over the next sixty days we will be treated to the greatest political show on Earth as the Democrats and their handlers in The Davos Crowd pursue the biggest lie since Climate Change.
The events of 2020 are lining up for a climax to this story that ends with only one outcome, a contested election which fuels a coup attempt after the election results come in on November 3rd.
And because of this now obvious plan, setting up a false flag around the election is the most likely means to produce election results close enough to support this course of action.
I’m not the only one thinking in these terms at this point. Joaquin Flores, writing for Fort Russ, mused similarly last week. As the polls shift towards Donald Trump and the Democrats run around concocting fairy tales after allowing Joe Biden out of his gimp cellar long enough for people to see how far he has fallen mentally, I’m nearly convinced this is likely. Ukraine’s Maidan... Wynnyckyj, Mychailo Buy New $25.69 (as of 02:43 UTC - Details)
Color revolutions unfold in predictable stages. The first stage is destroying the local economy. Usually this means the Federal Reserve and the U.S. Treasury pull back on available dollars through tight monetary policy and sanctions to create mass unemployment in the target nation.
Then foment violence from the youth who are disproportionately affected by the economic destruction after NGO’s lay the ideological foundation for revolution. Use the most convenient pretext. In the U.S. it means stoking racism and hatred of ‘the rich.’
Pick a color under which to unite them, in this case black and blame the leader for every single bad thing that happens, which is usually the work of agent provocateurs who amplify the organic frustration into targeted attacks which are then amped up by the media into a news story.
If the leader is stupid he acts like any garden-variety paranoid dictator by clamping down on the violence making him easy prey for the media to brand him a dictator.
Then bringing a mob to the capital is easy, because now there are too many people to be effectively policed and the potential for violence to boil the whole thing into a coup is very real.
All of this works if the oligarchs who run the political system of the target country are on board with this. In the U.S., it’s obvious from the response from all major corporations they approve this message. Note how it failed in Belarus recently for lack of this corporate sponsorship.
Looking at the way the Democrats have positioned themselves for this election it is clear that they are preparing the field for this outcome after election day.
They used the lockdowns to create an army of ready-made protestors with nothing else to do and little hope for the future. False Flags, State Sec... Hamilton, John Best Price: $20.08 Buy New $19.99 (as of 05:17 UTC - Details)
They structured all aid to the middle class the run out during the height of the election campaign while blocking any further assistance even though the Treasury Dept. raised nearly $2 trillion to deploy as support and stimulus.
The media endlessly stoked fear over COVID-19 to push as many voters to consider mailing their votes in (or create the illusion that is what will happen) to delay certification of the election on election night.
But to his credit, President Trump hasn’t acted the way he was supposed to. He has governed this chaos exactly the way a majority of Americans want him to, as a Federalist. Even though he has the authority to do so, he’s refrained from sending Federal troops into rioting cities, laying bare just how much local authorities are aiding the violence.
He didn’t institute national lockdowns and draconian restrictions due to COVID-19, instead offering aid and allowing the data to eventually vindicate him to the point where even the CDC is now backtracking on how dangerous the virus actually is.
And his opponents in New York, for example, now look like out-of-touch, lying grandma murderers.
Eventually crisis fatigue sets in, people adjust to the new circumstances and the worst parts of their fear abates. And even if they don’t look at the new data, they realize enough costs have been born and it’s time to move on with our lives.
That’s what is now showing up in the polling data, even though it is still highly suspect. And this puts Trump in the driver’s seat for the election on November 3rd. As of today, the election looks like it is his to lose.
And yet the Democrats insist that the election will not be resolved on election day. In fact, it’s obvious they are prepping the narrative that Trump will only appear to win on election night but, in fact, the torrent of mail-in ballots will change the outcome of the election over the next few days.
Of course, this would fly in the face of decades of electoral statistics where the outcome of the election is almost certainly decided by the time 25% of the votes have been counted and a run-rate to completion can be calculated.
A report from Axios outlines what we can expect.
A top Democratic data and analytics firm told “Axios on HBO” it’s highly likely that President Trump will appear to have won — potentially in a landslide — on election night, even if he ultimately loses when all the votes are counted.
Why this matters: Way more Democrats will vote by mail than Republicans, due to fears of the coronavirus, and it will take days if not weeks to tally these. This means Trump, thanks to Republicans doing almost all of their voting in person, could hold big electoral college and popular vote leads on election night…. … By the numbers: Under one of the group’s modeling scenarios, Trump could hold a projected lead of 408-130 electoral votes on election night, if only 15% of the vote by mail (VBM) ballots had been counted. And that’s what concerns me most. Because if all of this prep work has failed and Trump clearly wins an electoral college victory, but they are planning to harvest votes for days afterwards, how do they shift the dynamic back in Biden’s favor between now and then to keep the election close enough for them to steal?
More violence is how.
We are two weeks away from White House Siege beginning on September 17th. Organized by Adbusters, which is a front for George Soros’ partner in crime, David Brock and Media Matters For America, White House Siege is a planned 50-day protest in Lafayette Square in Washington D.C., ostensibly to protest President Trump ‘stealing the election.’
This is a ready-made recipe for a Maidan-like orgy of violence in the nation’s capital to create a false flag event which reflects badly on Trump. Think snipers on rooftops shooting both protestors and cops similar to what happened on the Maidan square in Kiev in 2014. Color Revolutions: Tec... Karpovich, Oleg Best Price: $23.59 Buy New $14.27 (as of 05:18 UTC - Details)
D.C. is not a state. It’s not governed by the same rules as the states, where the Governors are in charge.
Trump can, and in my mind should, as a matter of strategy, take control over D.C. to keep to possibility of violence to a minimum. D.C. mayor Muriel Bowser is trying to walk back her support of the protests after the violence after the Republican National Convention by urging U.S. Attorneys in D.C. to charge the people the police arrest.
This is Bowser trying to publicly keep Trump from doing exactly what I just said he should do. Because with cities looted and burned, with Democrat politicians losing the respect of their constituencies they have no political legs left to stand on.
Governor Andrew Cuomo in New York said in a press conference Trump better bring an army if he plans to set foot in his state. This is tantamount to sedition, for which a case can be made by nearly every major Democrat for statements made in the past six months.
“He better have an army if he thinks he’s gonna walk down the street in New York. New Yorkers don’t want to have anything to do with him,” the Democrat said, all but threatening the commander-in-chief.
Meanwhile Cuomo is now the target of a Dept. of Justice investigation into his handling of the COVID-19 crisis while Trump withholds Federal funds from the state, which prompted Cuomo’s bravado.
Between this and Speaker Nancy Pelosi calling Republicans “domestic enemies of the state” is the kind of language you don’t come back from. The Democrats and the U.S. Deep Stat are all in on removing Trump from office by any means necessary.
I don’t think the worst of the violence is behind us after Kenosha. I think the worst is still in front of us.
The views of individual contributors do not necessarily represent those of the Strategic Culture Foundation.
The Best of Tom Luongo