Rutan Rules

The recent article by Joseph Salerno on the “ libertarian ” academic star Tyler Cowen , and especially Peter Klein ’ s comments regarding Cowen ’ s opinion of NASA , have awakened in me recollections on Cowen and NASA that I will explain below .
It was almost 30 years ago that I met Tyler Cowen at the 1990 General Meeting of The Mont Pelerin Society ( MPS ) held in Munich .
The MPS was founded by Friederich Hayek after WWII to bring together those intellectuals who still believed in free societies as the rest of the world @ @ @ @ @ @ @ wrote about the founding , history , and influence of the MPS here .
You can see Cowen on the list of participants , that I highlighted as I met people there .
This was my first and only economic/social science meeting I ever attended and my first visit to Europe .
What I vaguely remember was an enjoyable conversation with a very bright and very nice person .
I should add that everyone I met there was very bright and very nice to me .
I don ’ t recall how he @ @ @ @ @ @ @ not seem at all like the person I had talked to .
This lack of impact on me is not because of Cowen , but totally due to my poor memory and perhaps the related effects of jet lag and open bars at the MPS events .
In the years following the meeting I did follow some of the intellectuals I had met there ( I shook hands with Milton Friedman ) including one couple who became close friends .
But as for Cowen , I don ’ t remember much .
Perhaps @ @ @ @ @ @ @ 2013 that gave this background on Cowen ’ s career in his description of Walter Grinder , who was working from the Koch-dominated Institute for Humane Studies , to promote a “ Rothbardianism with manners.
” Against the Left : A Ro ... Llewellyn H Rockwell Jr Best Price : $ 13.57 Buy New $ 8.00 His new policy took over an idea from Friedrich Hayek ’ s famous essay , “ The Intellectuals and Socialism , ” though I doubt that Hayek would have endorsed the IHS application of his ideas .
@ @ @ @ @ @ @ gain adherents among top-ranking theorists .
The majority of intellectuals , the “ second-hand dealers in ideas , ” then popularize and simplify what they have learned from these thinkers , passing the product on to the general public .
Grinder and others in leadership posts at IHS concluded that they should concentrate on elite universities such as Harvard , Yale , and Princeton in the United States , and Oxford and Cambridge in England .
If students could be recruited from these universities or , if already sympathetic , admitted to their @ @ @ @ @ @ @ Grinder placed particular emphasis on Tyler Cowen , a brilliant student who had been interested in Austrian economics since his high school days .
Cowen enrolled in an Austrian economics program at Rutgers , where he impressed both Joe Salerno and Richard Fink with his extraordinary erudition .
When Fink moved to George Mason University , Cowen moved with him ; and he completed his undergraduate degree there in 1983 .
Grinder considered him the next Hayek , the hope of Austrian economics .
In accord with the elite universities policy , Cowen @ @ @ @ @ @ @ .
There he came under the influence of Thomas Schelling and gave up his belief in Austrian economics .
After he finished his PhD in 1987 , Cowen was for a time a professor at the University of California at Irvine , and he used to visit me sometimes in Los Angeles .
I was impressed with his remarkable intelligence and enjoyed talking with him .
But I remember how surprised I was one day when he told me that he did not regard Ludwig von Mises very highly .
Here he fitted @ @ @ @ @ @ @ Fink and the Kochtopus leadership .
They regarded Mises as a controversial figure : his “ extremism ” would interfere with the mission of arousing mainstream interest in the Austrian School .
Accordingly , Hayek should be stressed and Mises downplayed .
( After the collapse of the Soviet Union , which led to new interest in Mises ’ s socialist calculation argument , this policy changed .
The mainstream , though of course continuing to reject Mises , now recognized him as a great economist . )
The policy was strategic , @ @ @ @ @ @ @ didn ’ t rate Mises highly .
Cowen eventually returned to George Mason University as a Professor of Economics .
He is said to be the dominant figure in the department .
Because of his close friendship with Richard Fink , who left academic work to become a major executive with Koch Industries and the principal disburser of Koch Foundation funding , Cowen exerts a major influence on grants to his department .
In his article , Klein related a conversation he had had with Cowen about NASA .
This is actually Cowen @ @ @ @ @ @ @ remember his 2014 article “ The Lack of Major Wars May Be Hurting Economic Growth , ” which echoed the Mariana Mazzucato position that government spending is the main source of technological progress .
I remember a friendly argument with Cowen some twenty years ago about NASA , which he insisted was an example of benevolent government intervention .
I brought up the standard counter arguments—theoretical ( how do you measure benefits and costs , including opportunity costs ? )
, empirical ( lots of case study evidence suggesting widespread waste , fraud @ @ @ @ @ @ @ direction of science and technology ) , and deontological ( is it okay to coerce people to support transfer payments that they see as against their self interest ? )
.
He wasn ’ t buying it .
Space exploration is just so cool that the usual arguments don ’ t apply .
I recently listened to Cowen do an interview with Eric Weinstein on his Portal podcast .
Amazon.com Gift Card i ... Buy New $ 10.00 Cowen has a very irritable monotone voice , almost as if it was computer generated @ @ @ @ @ @ @ 138 minutes but I did catch his pleading against conspiracies in general and the Epstein case in particular ( about 33 ) that substantiate Klein ’ s description of his debate style of responding to a plethora of evidence simply by not buying it .
Sometime during the late 1990s I saw a presentation by the entrepreneur and aircraft designer Burt Rutan .
My brother is a pilot and confirms that he is a legend in aviation circles .
Rutan is most famous to the general public for the design of the Voyager @ @ @ @ @ @ @ plane to fly around the world without stopping or refueling and his suborbital spaceplane design , SpaceShipOne , that won the Ansari X-Prize for the first private organization to launch a reusable manned spacecraft into space twice within two weeks .
If there were ever a film biography of Rutan , John Wayne would have been perfect to portray this larger than life figure .
In the presentation I saw he provided great experiential evidence that eviscerated the role of NASA in the development of space flight , or rather the nondevelopment , @ @ @ @ @ @ @ the explosion of innovation in the early development of airplanes compared to the languid retrograde motion of space travel .
Afterall , the boys from the bike shop beat the government sponsored project in the beginning .
Now there is a lively competition in the development of suborbital space tourism .
I could not find an equivalent of the presentation I saw on the internet but I did find this 2012 presentation that gives a sense of , but is not so pointed or complete , as the one I witnessed .
Maybe @ @ @ @ @ @ @ his position on NASA , but I doubt it .
The Best of Ira Katz

The recent article by Joseph Salerno on the “libertarian” academic star Tyler Cowen, and especially Peter Klein’s comments regarding Cowen’s opinion of NASA, have awakened in me recollections on Cowen and NASA that I will explain below.
It was almost 30 years ago that I met Tyler Cowen at the 1990 General Meeting of The Mont Pelerin Society (MPS) held in Munich. The MPS was founded by Friederich Hayek after WWII to bring together those intellectuals who still believed in free societies as the rest of the world followed a socialist path. Robert Higgs wrote about the founding, history, and influence of the MPS here. You can see Cowen on the list of participants, that I highlighted as I met people there. This was my first and only economic/social science meeting I ever attended and my first visit to Europe.
What I vaguely remember was an enjoyable conversation with a very bright and very nice person. I should add that everyone I met there was very bright and very nice to me. I don’t recall how he looked, and his appearance now does not seem at all like the person I had talked to. This lack of impact on me is not because of Cowen, but totally due to my poor memory and perhaps the related effects of jet lag and open bars at the MPS events.
In the years following the meeting I did follow some of the intellectuals I had met there (I shook hands with Milton Friedman) including one couple who became close friends. But as for Cowen, I don’t remember much. Perhaps only an article by David Gordon in 2013 that gave this background on Cowen’s career in his description of Walter Grinder, who was working from the Koch-dominated Institute for Humane Studies, to promote a “Rothbardianism with manners.” Against the Left: A Ro... Rockwell Jr, Llewellyn H Best Price: $2.85 Buy New $8.00 (as of 07:59 UTC - Details)
His new policy took over an idea from Friedrich Hayek’s famous essay, “The Intellectuals and Socialism,” though I doubt that Hayek would have endorsed the IHS application of his ideas. Hayek stressed that new social movements first gain adherents among top-ranking theorists. The majority of intellectuals, the “second-hand dealers in ideas,” then popularize and simplify what they have learned from these thinkers, passing the product on to the general public. Grinder and others in leadership posts at IHS concluded that they should concentrate on elite universities such as Harvard, Yale, and Princeton in the United States, and Oxford and Cambridge in England. If students could be recruited from these universities or, if already sympathetic, admitted to their programs, success was at hand. Grinder placed particular emphasis on Tyler Cowen, a brilliant student who had been interested in Austrian economics since his high school days. Cowen enrolled in an Austrian economics program at Rutgers, where he impressed both Joe Salerno and Richard Fink with his extraordinary erudition. When Fink moved to George Mason University, Cowen moved with him; and he completed his undergraduate degree there in 1983. Grinder considered him the next Hayek, the hope of Austrian economics. In accord with the elite universities policy, Cowen went to Harvard for his graduate degree. There he came under the influence of Thomas Schelling and gave up his belief in Austrian economics. After he finished his PhD in 1987, Cowen was for a time a professor at the University of California at Irvine, and he used to visit me sometimes in Los Angeles. I was impressed with his remarkable intelligence and enjoyed talking with him. But I remember how surprised I was one day when he told me that he did not regard Ludwig von Mises very highly. Here he fitted in all-too-well with another policy of Richard Fink and the Kochtopus leadership. They regarded Mises as a controversial figure: his “extremism” would interfere with the mission of arousing mainstream interest in the Austrian School. Accordingly, Hayek should be stressed and Mises downplayed. (After the collapse of the Soviet Union, which led to new interest in Mises’s socialist calculation argument, this policy changed. The mainstream, though of course continuing to reject Mises, now recognized him as a great economist.) The policy was strategic, but Cowen went further — he really didn’t rate Mises highly. Cowen eventually returned to George Mason University as a Professor of Economics. He is said to be the dominant figure in the department. Because of his close friendship with Richard Fink, who left academic work to become a major executive with Koch Industries and the principal disburser of Koch Foundation funding, Cowen exerts a major influence on grants to his department.
In his article, Klein related a conversation he had had with Cowen about NASA.
This is actually Cowen’s long-held view. You may remember his 2014 article “The Lack of Major Wars May Be Hurting Economic Growth,” which echoed the Mariana Mazzucato position that government spending is the main source of technological progress. I remember a friendly argument with Cowen some twenty years ago about NASA, which he insisted was an example of benevolent government intervention. I brought up the standard counter arguments—theoretical (how do you measure benefits and costs, including opportunity costs?), empirical (lots of case study evidence suggesting widespread waste, fraud, and long-term negative effects on the direction of science and technology), and deontological (is it okay to coerce people to support transfer payments that they see as against their self interest?). He wasn’t buying it. Space exploration is just so cool that the usual arguments don’t apply.
I recently listened to Cowen do an interview with Eric Weinstein on his Portal podcast. Amazon.com Gift Card i... Buy New $10.00 (as of 08:25 UTC - Details)
Cowen has a very irritable monotone voice, almost as if it was computer generated. I couldn’t take all 138 minutes but I did catch his pleading against conspiracies in general and the Epstein case in particular (about 33) that substantiate Klein’s description of his debate style of responding to a plethora of evidence simply by not buying it.
Sometime during the late 1990s I saw a presentation by the entrepreneur and aircraft designer Burt Rutan. My brother is a pilot and confirms that he is a legend in aviation circles. Rutan is most famous to the general public for the design of the Voyager, which in 1986 was the first plane to fly around the world without stopping or refueling and his suborbital spaceplane design, SpaceShipOne, that won the Ansari X-Prize for the first private organization to launch a reusable manned spacecraft into space twice within two weeks. If there were ever a film biography of Rutan, John Wayne would have been perfect to portray this larger than life figure. In the presentation I saw he provided great experiential evidence that eviscerated the role of NASA in the development of space flight, or rather the nondevelopment, from a quasi-libertarian standpoint. He compared the explosion of innovation in the early development of airplanes compared to the languid retrograde motion of space travel. Afterall, the boys from the bike shop beat the government sponsored project in the beginning. Now there is a lively competition in the development of suborbital space tourism. I could not find an equivalent of the presentation I saw on the internet but I did find this 2012 presentation that gives a sense of, but is not so pointed or complete, as the one I witnessed.
Maybe if Cowen watched Rutan he might alter his position on NASA, but I doubt it.
The Best of Ira Katz


lewrockwell--2020-02-07--Government Has No Rights

Government Has No Rights

“ Government is a disease masquerading as its own cure.
” ~ Robert LeFevre — Notes : Financial Sense The government and the state are synonymous terms to be sure , and both create and perpetuate evil by claiming to hold power that does not exist .
Government has no rights whatsoever , but claims power over others as if it had the right to do so .
Only the individual has rights , and therefore all government is illegitimate .
If the individual has a right to govern himself , all external government is tyranny .
Hence the necessity @ @ @ @ @ @ @ Ricketson Tucker ( 1972 ) .
“ State Socialism and Anarchism and Other Essays ” , Ralph Myles Pub In today ’ s world , the “ laws ” set forth by governments are considered by most of the common masses as rules that must be obeyed .
If they were thinking properly , they would ignore all government laws , and call them what they are ; demands enforced by the ruling class by open and aggressive force .
These so-called laws are not meant to make a better or safer environment @ @ @ @ @ @ @ population at large .
The people have been easily fooled into believing that the state is a god that must exist so that order can be maintained .
So why is there no order ?
Against the State : An ... Llewellyn H. Rockwell Jr. Best Price : $ 2.11 Buy New $ 8.56 There are constant shootings , murder , theft , extortion , beatings , incarceration , and unfounded wars , with most all of these atrocities committed by the very government making the “ laws.
” This is why government @ @ @ @ @ @ @ , it produces nothing , and it is nothing .
Government is simply a name attached to a false entity that has no right to exist , and can only survive by the use of force in order to uphold its mandates .
If enough of the population decided to ignore the government and its laws , it would simply wither away and die .
If one individual attempts this , he will be jailed or shot , but if a large number of people decided not to comply with any laws , @ @ @ @ @ @ @ ’ s taxes , the government could be crippled quickly and brought to submission .
Government is really nothing , and is only able to continue its assault on liberty due to the people allowing it to do so .
Government claims a right to rule , but it has no such right .
These are just people , the absolute lowest form of people , that make up a gang of thieves and murderers that have been able to fool the public into believing that state rule is legitimate .
The notion @ @ @ @ @ @ @ face , as it consists of just a tiny sampling of miscreants that rule by fear and propaganda , but there is nothing to fear except the insane idea of government .
By denouncing government , by ignoring government , and by defunding government , it will cease to exist , all without violence .
All that is required in order to affect the government ’ s demise are large numbers of people around this country willing to oust the bastards by starving them to death .
There are only a few cowards @ @ @ @ @ @ @ of us .
We have the upper hand .
How did government become so intrusive and invasive ?
How did government come to claim authority over all ?
How did government build a massive murdering class of enforcers to not only tame the pathetic citizenry , but to lay siege to much of the rest of the world as well ?
And how does this government continue its reign of terror against us all ?
This began with what is considered by the enslaved sheep as its bible , the irrelevant United States @ @ @ @ @ @ @ that exist today secretly drafted the Constitution over two centuries ago , and used it to create a central governing authority giving the false impression of rule by the people when none was meant to exist .
A coup of this magnitude while genius was nothing less than an act of treason .
The only reason this coup was successful was because the people were fooled into believing that they controlled the politicians , when in fact , these trimmers sought just the opposite .
To this day , most still accept the @ @ @ @ @ @ @ this corrupt government .
Blind ignorance at this level is what the politicians count on in order to retain power and control .
Consider the average American today .
He believes it is bad not to have his earnings stolen by the gang of thieves at the IRS .
He thinks that it is okay that he must pay for a government permission slip in order to drive , or to improve his own house , or to open his own business , or to sell lemonade to his neighbor .
He thinks @ @ @ @ @ @ @ radiated every time he boards a plane .
He thinks it is okay for his neighbor to be thrown in prison for smoking a plant in his home .
He thinks it is okay that the money stolen from him by government is used to kill and maim innocent men , women , and children around the world , and actually applauds those that do the killing .
He thinks he is free because he can , along with 100 million others , pull a lever for a pre-chosen sociopathic megalomaniac once every @ @ @ @ @ @ @ a flag and saying God is on our side makes him a patriot .
He thinks that all children should be forced to receive poisonous vaccinations on demand .
And he believes that openly stealing from his neighbors by using government mobsters and their murderous agents relieves him from responsibility for that theft .
Is it any wonder that America is now the land of the enslaved instead of the land of the free ?
Americans have become victims of the government because they voluntarily allow government to exist .
They allow government @ @ @ @ @ @ @ to war and murder , to cage citizens for victimless crimes , and they allow that same government to spy and monitor their activities .
The government calls this taxation , law enforcement , national defense , and spreading democracy .
These are all lies because government has no right to do any of these things .
If a normal human has no right to do it , then neither does the state .
It is time to take all authority away from this evil government .
Once people realize that government is @ @ @ @ @ @ @ are obligated in any way to bow down to this monster , the solution is clear .
There are hundreds of millions of us and a handful of them .
Stop obeying , stop paying the extortion called tax , stop voting , ignore the state , and starve it to death .
The Best of Gary D. Barnett

“Government is a disease masquerading as its own cure.” ~ Robert LeFevre — Notes: Financial Sense
The government and the state are synonymous terms to be sure, and both create and perpetuate evil by claiming to hold power that does not exist. Government has no rights whatsoever, but claims power over others as if it had the right to do so. Only the individual has rights, and therefore all government is illegitimate.
As Benjamin Tucker so eloquently stated:
If the individual has a right to govern himself, all external government is tyranny. Hence the necessity of abolishing the State. ~ Benjamin Ricketson Tucker (1972). “State Socialism and Anarchism and Other Essays”, Ralph Myles Pub
In today’s world, the “laws” set forth by governments are considered by most of the common masses as rules that must be obeyed. If they were thinking properly, they would ignore all government laws, and call them what they are; demands enforced by the ruling class by open and aggressive force. These so-called laws are not meant to make a better or safer environment, but strictly meant to control the population at large. The people have been easily fooled into believing that the state is a god that must exist so that order can be maintained. So why is there no order? Against the State: An ... Rockwell Jr., Llewelly... Best Price: $5.02 Buy New $5.52 (as of 11:35 UTC - Details)
There are constant shootings, murder, theft, extortion, beatings, incarceration, and unfounded wars, with most all of these atrocities committed by the very government making the “laws.” This is why government should be ignored. It has nothing, it produces nothing, and it is nothing. Government is simply a name attached to a false entity that has no right to exist, and can only survive by the use of force in order to uphold its mandates. If enough of the population decided to ignore the government and its laws, it would simply wither away and die. If one individual attempts this, he will be jailed or shot, but if a large number of people decided not to comply with any laws, and decided not to pay the state’s taxes, the government could be crippled quickly and brought to submission.
Government is really nothing, and is only able to continue its assault on liberty due to the people allowing it to do so. Government claims a right to rule, but it has no such right. These are just people, the absolute lowest form of people, that make up a gang of thieves and murderers that have been able to fool the public into believing that state rule is legitimate. The notion of state authority is ludicrous on its face, as it consists of just a tiny sampling of miscreants that rule by fear and propaganda, but there is nothing to fear except the insane idea of government. By denouncing government, by ignoring government, and by defunding government, it will cease to exist, all without violence. All that is required in order to affect the government’s demise are large numbers of people around this country willing to oust the bastards by starving them to death. There are only a few cowards in government, and over 300 million of us. We have the upper hand.
How did government become so intrusive and invasive? How did government come to claim authority over all? How did government build a massive murdering class of enforcers to not only tame the pathetic citizenry, but to lay siege to much of the rest of the world as well? And how does this government continue its reign of terror against us all?
This began with what is considered by the enslaved sheep as its bible, the irrelevant United States Constitution. The same type of politicians that exist today secretly drafted the Constitution over two centuries ago, and used it to create a central governing authority giving the false impression of rule by the people when none was meant to exist. A coup of this magnitude while genius was nothing less than an act of treason. The only reason this coup was successful was because the people were fooled into believing that they controlled the politicians, when in fact, these trimmers sought just the opposite. To this day, most still accept the lie that they are in charge of this corrupt government. Blind ignorance at this level is what the politicians count on in order to retain power and control.
Consider the average American today. He believes it is bad not to have his earnings stolen by the gang of thieves at the IRS. He thinks that it is okay that he must pay for a government permission slip in order to drive, or to improve his own house, or to open his own business, or to sell lemonade to his neighbor. He thinks it is okay to be strip-searched and radiated every time he boards a plane. He thinks it is okay for his neighbor to be thrown in prison for smoking a plant in his home. He thinks it is okay that the money stolen from him by government is used to kill and maim innocent men, women, and children around the world, and actually applauds those that do the killing. He thinks he is free because he can, along with 100 million others, pull a lever for a pre-chosen sociopathic megalomaniac once every four years. He believes that waving a flag and saying God is on our side makes him a patriot. He thinks that all children should be forced to receive poisonous vaccinations on demand. And he believes that openly stealing from his neighbors by using government mobsters and their murderous agents relieves him from responsibility for that theft. Is it any wonder that America is now the land of the enslaved instead of the land of the free?
Americans have become victims of the government because they voluntarily allow government to exist. They allow government to steal, to administer violence, to war and murder, to cage citizens for victimless crimes, and they allow that same government to spy and monitor their activities. The government calls this taxation, law enforcement, national defense, and spreading democracy. These are all lies because government has no right to do any of these things. If a normal human has no right to do it, then neither does the state.
It is time to take all authority away from this evil government. Once people realize that government is illegitimate, and stop believing that they are obligated in any way to bow down to this monster, the solution is clear. There are hundreds of millions of us and a handful of them. Stop obeying, stop paying the extortion called tax, stop voting, ignore the state, and starve it to death.
The Best of Gary D. Barnett


lewrockwell--2020-02-07--Shhhh: Repo Operation in Process

Shhhh: Repo Operation in Process

In a bit of holiday news no one will care about , the Treasury announced it would return to selling twenty-year treasury bonds to aid in funding the nation ’ s trillion-dollar deficit .
It was 1986 when the Treasury last issued twenty-year paper .
Of course the question is : who or what will be the buyers ?
Daniel R. Amerman , CFA , is keeping a steady eye on the Treasury and Fed ’ s operations and has come to the conclusion , In just the last four months , the U.S. government has spent $ 457 billion—almost @ @ @ @ @ @ @ taken in .
In that same time and using monetary creation , the Federal Reserve has created and put $ 457 billion in new cash into the financial system , either buying U.S. Treasuries or funding the ownership of those Treasuries by others .
A few folks are aware of the repo tantrum which occurred last September .
Overnite rates for money secured by US debt popped to 10 percent , signaling a collateral crises or at least a financial plumbing problem due to the financial mandarins trying to sneak away from the @ @ @ @ @ @ @ in the Fed ’ s bottomless punch bowl .
The Mystery of Banking Murray N. Rothbard Best Price : $ 2.23 Buy New $ 7.57 But , the markets were ( and are ) still thirsty , so to speak .
Murray Rothbard in The Mystery of Banking explains the logistics of Fed-created inflation , at least as it was prior to the book ’ s first printing in 1983 .
For instance , he makes no mention of repurchase agreements ( repos ) in the book .
Instead , Rothbard writes , @ @ @ @ @ @ @ isn ’ t where the action is .
Instead , it ’ s the shadow banking system that needs direct feeding to goose inflation—at least inflation in asset prices , and also to keep the debt service on the nation ’ s debt as low as possible .
Not low as in print-money low , but , as Amerman writes , this funding is not through direct purchases from the U.S. Treasury but through the markets , which is actually far more effective for what the Federal Reserve desires .
The Fed does @ @ @ @ @ @ @ debt , but to control interest rates in the markets in the process , and this means they need to go through the markets to buy the Treasury debt .
( There is also a current legal prohibition against direct purchases , but that law could be changed in a day if the government wanted to use that much less effective means of funding the debt ) .
Repo rates between 1.52 and 1.55 percent are the next best thing to what Rothbard described as “ wildly inflationary.
” Amerman explains , What @ @ @ @ @ @ @ and Amerman says that the Fed used the same weapon in 2019 that it did in 2008 : mo ’ money .
After almost 11 years of comparative calm and without repo market interventions , the Federal Reserve stopped the crisis in 2019 much as it had stopped the last major crisis in 2008 , by creating new money on a massive scale and lending it to the banks and other financial entities that were at risk .
In the process—the Federal Reserve effectively funded the growth in the United States national debt @ @ @ @ @ @ @ economy is rockin ’ and rollin ’ .
Look at the stock market .
Look at the real estate market .
Interest rates are low ; unemployment is low .
What ’ s not to like ?
Wall Street and Washington , DC , want to be happy , so the economists at the Eccles Building , while decreasing total repo loans , have doubled the total funding of the national debt .
“ It is the Fed ’ s purchase of Treasury obligations that is now that dominant source of cumulative deficit @ @ @ @ @ @ @ , receiving scant interest on their savings , are banking on living off the proceeds of selling financial assets .
Amerman concludes , Note : The views expressed on Mises.org are not necessarily those of the Mises Institute .
The Best of Douglas French

In a bit of holiday news no one will care about, the Treasury announced it would return to selling twenty-year treasury bonds to aid in funding the nation’s trillion-dollar deficit. It was 1986 when the Treasury last issued twenty-year paper. Of course the question is: who or what will be the buyers?
Daniel R. Amerman, CFA, is keeping a steady eye on the Treasury and Fed’s operations and has come to the conclusion,
In just the last four months, the U.S. government has spent $457 billion—almost half a trillion dollars—more than it has taken in. In that same time and using monetary creation, the Federal Reserve has created and put $457 billion in new cash into the financial system, either buying U.S. Treasuries or funding the ownership of those Treasuries by others.
A few folks are aware of the repo tantrum which occurred last September. Overnite rates for money secured by US debt popped to 10 percent, signaling a collateral crises or at least a financial plumbing problem due to the financial mandarins trying to sneak away from the party with $100 billion that was in the Fed’s bottomless punch bowl.
The Mystery of Banking Murray N. Rothbard Best Price: $2.23 Buy New $7.57 (as of 07:55 UTC - Details) But, the markets were (and are) still thirsty, so to speak. Murray Rothbard in The Mystery of Banking explains the logistics of Fed-created inflation, at least as it was prior to the book’s first printing in 1983. For instance, he makes no mention of repurchase agreements (repos) in the book. Instead, Rothbard writes,
There is another form of financing deficits which is now obsolete in the modern Western world but which was formerly the standard method of finance. That was for the central government to simply print money (Treasury cash) and spend it. This, of course, was highly inflationary…
Rothbard goes on:
If the Fed were to finance new Treasury bond issues directly, as it was only allowed by law to do for a while during World War II, this step would be wildly inflationary. For the Treasury would now have an increased $100 billion not just of newly-created bank money, but of “high-powered” bank money—demand deposits at the Fed.
These days, the commercial banking system isn’t where the action is. Instead, it’s the shadow banking system that needs direct feeding to goose inflation—at least inflation in asset prices, and also to keep the debt service on the nation’s debt as low as possible. Not low as in print-money low, but, as Amerman writes,
the Federal Reserve is doing what no responsible central bank is supposed to do, and effectively funding the growth in the debt at well below free market interest rates via monetary creation on a massive scale—without admitting that it is doing so.
Amerman echos Rothbard, pointing out that
this funding is not through direct purchases from the U.S. Treasury but through the markets, which is actually far more effective for what the Federal Reserve desires. The Fed does not just want to fund the national debt, but to control interest rates in the markets in the process, and this means they need to go through the markets to buy the Treasury debt. (There is also a current legal prohibition against direct purchases, but that law could be changed in a day if the government wanted to use that much less effective means of funding the debt).
Repo rates between 1.52 and 1.55 percent are the next best thing to what Rothbard described as “wildly inflationary.” Amerman explains,
This is all about funding the fast growing national debt at lower rates than what rational investors would accept in a free market, and the repo crisis was a symptom of that problem, not the cause.
What’s old is new again, and Amerman says that the Fed used the same weapon in 2019 that it did in 2008: mo’ money.
After almost 11 years of comparative calm and without repo market interventions, the Federal Reserve stopped the crisis in 2019 much as it had stopped the last major crisis in 2008, by creating new money on a massive scale and lending it to the banks and other financial entities that were at risk. In the process—the Federal Reserve effectively funded the growth in the United States national debt that week.
Many people believe this economy is rockin’ and rollin’. Look at the stock market. Look at the real estate market. Interest rates are low; unemployment is low. What’s not to like?
Wall Street and Washington, DC, want to be happy, so the economists at the Eccles Building, while decreasing total repo loans, have doubled the total funding of the national debt. “It is the Fed’s purchase of Treasury obligations that is now that dominant source of cumulative deficit financing,” writes Amerman.
Retirees, receiving scant interest on their savings, are banking on living off the proceeds of selling financial assets. Amerman concludes,
The rapid growth of the national debt is also likely to become one of the biggest future threats to standards of living in retirement.
Central bank monetary magic won’t work forever.
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
The Best of Douglas French


How Insurance Impoverishes

One of the cleverest means by which the majority of people are kept in their place in an oligarchy – which is the system we live within – is via mandatory insurance .
It is one of the hidden mechanisms by which the majority are kept in their place .
In a position tantamount to that of a feudal serf , who is permitted to work so that he may continue to pay his fief overlords .
And not cause any trouble by becoming too independent .
It is very difficult for the average person – especially the average young @ @ @ @ @ @ @ system because after taxes – and mandatory insurance payments – there is very little capital left over .
Just as intended – or even if not .
The effect is the same , regardless .
Amazon.com Gift Card i ... Buy New $ 10.00 Capital is leverage – the means by which a person can increase his capital .
Mandatory insurance – after mandatory taxes – leaves not much to leverage .
The average person can just about pay his necessary living expenses after he has paid his mandatory taxes and mandatory insurance @ @ @ @ @ @ @ works to live .
He never has time for questioning ; he is under pressure to keep his head down – and his nose to the grindstone .
He never achieves financial security – that state of having capital .
Of being free of the need to work .
.
.
of the necessity to continue generating the capital to pay mandatory taxes and insurance .
The elites in an oligarchy favor mandatory insurance – and impose it – not because ( as they claim ) it is necessary for “ the good @ @ @ @ @ @ @ good for them .
It prevents the average person from being able to accumulate any significant capital and thereby prevents the average person from ever increasing his capital .
Which prevents the average person from ever being in a position of not having to work in order to live .
The Best of Eric Peters

One of the cleverest means by which the majority of people are kept in their place in an oligarchy – which is the system we live within – is via mandatory insurance.
It is one of the hidden mechanisms by which the majority are kept in their place. In a position tantamount to that of a feudal serf, who is permitted to work so that he may continue to pay his fief overlords.
And not cause any trouble by becoming too independent.
It is very difficult for the average person – especially the average young person – to accumulate capital in our system because after taxes – and mandatory insurance payments – there is very little capital left over.
Just as intended – or even if not. The effect is the same, regardless.
Amazon.com Gift Card i... Buy New $10.00 (as of 08:25 UTC - Details) Capital is leverage – the means by which a person can increase his capital. Mandatory insurance – after mandatory taxes – leaves not much to leverage. The average person can just about pay his necessary living expenses after he has paid his mandatory taxes and mandatory insurance.
He lives to work – and works to live.
Until he dies.
He never has time for questioning; he is under pressure to keep his head down – and his nose to the grindstone. He never achieves financial security – that state of having capital.
Of being free of the need to work . . . of the necessity to continue generating the capital to pay mandatory taxes and insurance.
The elites in an oligarchy favor mandatory insurance – and impose it – not because (as they claim) it is necessary for “the good of society” but because it is good for them. It prevents the average person from being able to accumulate any significant capital and thereby prevents the average person from ever increasing his capital.
Which prevents the average person from ever being in a position of not having to work in order to live.

Read the Whole Article
The Best of Eric Peters


lewrockwell--2020-02-07--If You Can’t Blame the Confederacy, Secede!

American political theater has become the most entertaining show in town .
Trump refuses to shake hands and Pelosi rips up his script .
This is red meat for the duly indoctrinated in the mainstream political parties , but in case you thought that Trump ’ s impeachment and subsequent acquittal would calm the waters and draw the final curtain on a five-month Greek comedy , the woke lunatics and their Girondist media allies have decided the show must go on .
And who can we blame ?
Why the Confederacy , of course , the fly in the ointment @ @ @ @ @ @ @ wasn ’ t for those dastardly traitors of 1861 and their political progeny , America would be a glorious City Upon a Hill .
CNN ’ s John Harwood seems to think something nefarious is afoot from below the Mason Dixon : How Alexander Hamilton ... Brion McClanahan Best Price : $ 4.09 Buy New $ 5.99 While he clearly doesn ’ t know basic American geography or history , he certainly knows that the Confederacy is behind whatever problems ail America .
How could these modern Confederates be so blind to the @ @ @ @ @ @ @ testimony , the same John Bolton whom leftists consistently called an untrustworthy warmonger until he had some dirt on Trump ?
They held the right opinion of Bolton before the show required a plot twist making the enemy of their enemy their friend .
Except every viewer knew the end of the story before it showed up on the small screen .
These people telegraph their punches like a drunk itching for a bar fight .
But Harwood ’ s geographic determinism thinly veils his real motivation : these Republicans who voted against @ @ @ @ @ @ @ ancestor traitors to the United States .
And people wonder why Southerners still cling to the War , God , and guns .
The Best of Brion McClanahan

American political theater has become the most entertaining show in town. Trump refuses to shake hands and Pelosi rips up his script.
This is red meat for the duly indoctrinated in the mainstream political parties, but in case you thought that Trump’s impeachment and subsequent acquittal would calm the waters and draw the final curtain on a five-month Greek comedy, the woke lunatics and their Girondist media allies have decided the show must go on.
And who can we blame? Why the Confederacy, of course, the fly in the ointment of good American government. If it wasn’t for those dastardly traitors of 1861 and their political progeny, America would be a glorious City Upon a Hill.
CNN’s John Harwood seems to think something nefarious is afoot from below the Mason Dixon:
How Alexander Hamilton... Brion McClanahan Best Price: $4.09 Buy New $5.99 (as of 06:55 UTC - Details) While he clearly doesn’t know basic American geography or history, he certainly knows that the Confederacy is behind whatever problems ail America. How could these modern Confederates be so blind to the necessity of John Bolton’s important testimony, the same John Bolton whom leftists consistently called an untrustworthy warmonger until he had some dirt on Trump? They held the right opinion of Bolton before the show required a plot twist making the enemy of their enemy their friend. Except every viewer knew the end of the story before it showed up on the small screen. These people telegraph their punches like a drunk itching for a bar fight.
But Harwood’s geographic determinism thinly veils his real motivation: these Republicans who voted against his wishes are racist just like their ancestor traitors to the United States. And people wonder why Southerners still cling to the War, God, and guns.
Read the Whole Article
The Best of Brion McClanahan


Seattle’s Liberal Reckoning

Seattle is in the grip of a far-left mindset .
That became all the more evident , as if evidence were needed , during last year ’ s city council elections .
Many foresaw these as likely to bring to leadership a new breed of business-backed politicians bent on repudiating the council ’ s progressive-socialist leanings .
Finally , it was predicted , a sane brand of political moderation would emerge in Seattle government .
It didn ’ t happen .
In the campaign ’ s final days , the top issue became the intent of Amazon and its leader @ @ @ @ @ @ @ election with a $ 1.5 million cash infusion into the coffers of the city ’ s business coalition .
“ Within days , ” wrote Christopher Rufo of City Journal , “ the referendum on a failed city council had been transformed into a referendum on corporate power.
” There could be no question as to who would win that contest .
The result , said Rufo , was “ the most liberal city council in history , ” one that seems to be “ out for revenge ” against business interests and @ @ @ @ @ @ @ of many city council members now includes rent control , drug-consumption sites , the decriminalization of prostitution , the legalization of homeless encampments , the defunding of significant police programs , free public transit , and big new taxes on the rich , with particular emphasis , not surprisingly , on Amazon and its top executives .
Left of Bang : How the ... Patrick Van Horne , Jas ... Best Price : $ 12.13 Buy New $ 14.63 A question that has haunted this city in recent weeks is to what extent @ @ @ @ @ @ @ ghastly downtown event that occurred January 22 .
That was when three men , apparently street gang members , got embroiled in a rush-hour gunfight at the crowded intersection of Pine Street and Third Avenue .
A 50-year-old female , described by the Seattle Times as a “ joyful woman who lived a rich life , ” was killed , and seven others were wounded , including one of the shooters .
After the melee , police found some 20 shell casings at the scene .
While the local paper ’ s extensive @ @ @ @ @ @ @ didn ’ t explicitly raise the question of liberalism ’ s culpability , it nevertheless seemed to be on the minds of some Seattleites interviewed by the Times .
A main focus for many was why these men were on the street in the first place and why city officials can ’ t find effective ways to combat such violence .
Those who initiated the gun battle had extensive criminal records that reflected a certain persistent laxity in the application of the law .
One Times headline read : “ Tragic violence , @ @ @ @ @ @ @ Seattle ’ s long-running effort to address crime and sporadic violence downtown falls short.
” Attention turned inevitably to the three suspects .
One of them , Jamel Jackson , 21 , had previously been involved in a violent incident at the same downtown intersection , when he allegedly punched and kicked a victim who got embroiled with a female gang member in the middle of a large crowd .
He had in his possession a loaded 9-mm handgun .
He avoided prosecution for the assault by pleading guilty to illegal firearm possession @ @ @ @ @ @ @ four months of home detention .
According to the Times , he had been told by at least four superior court judges that he was not to possess firearms , a proscription that he apparently ignored with impunity .

Seattle is in the grip of a far-left mindset. That became all the more evident, as if evidence were needed, during last year’s city council elections. Many foresaw these as likely to bring to leadership a new breed of business-backed politicians bent on repudiating the council’s progressive-socialist leanings. Finally, it was predicted, a sane brand of political moderation would emerge in Seattle government.
It didn’t happen. In the campaign’s final days, the top issue became the intent of Amazon and its leader Jeff Bezos to “buy” the election with a $1.5 million cash infusion into the coffers of the city’s business coalition. “Within days,” wrote Christopher Rufo of City Journal, “the referendum on a failed city council had been transformed into a referendum on corporate power.” There could be no question as to who would win that contest.
The result, said Rufo, was “the most liberal city council in history,” one that seems to be “out for revenge” against business interests and their moderate supporters. The stated agenda of many city council members now includes rent control, drug-consumption sites, the decriminalization of prostitution, the legalization of homeless encampments, the defunding of significant police programs, free public transit, and big new taxes on the rich, with particular emphasis, not surprisingly, on Amazon and its top executives. Left of Bang: How the ... Patrick Van Horne, Jas... Best Price: $12.13 Buy New $14.63 (as of 08:15 UTC - Details)
A question that has haunted this city in recent weeks is to what extent this potent liberal sensibility contributed to the ghastly downtown event that occurred January 22. That was when three men, apparently street gang members, got embroiled in a rush-hour gunfight at the crowded intersection of Pine Street and Third Avenue. A 50-year-old female, described by the Seattle Times as a “joyful woman who lived a rich life,” was killed, and seven others were wounded, including one of the shooters. After the melee, police found some 20 shell casings at the scene.
While the local paper’s extensive coverage of the event and its aftermath didn’t explicitly raise the question of liberalism’s culpability, it nevertheless seemed to be on the minds of some Seattleites interviewed by the Times. A main focus for many was why these men were on the street in the first place and why city officials can’t find effective ways to combat such violence. Those who initiated the gun battle had extensive criminal records that reflected a certain persistent laxity in the application of the law. One Times headline read: “Tragic violence, unsurprising story.” The subhead: “Seattle’s long-running effort to address crime and sporadic violence downtown falls short.”
Attention turned inevitably to the three suspects. One of them, Jamel Jackson, 21, had previously been involved in a violent incident at the same downtown intersection, when he allegedly punched and kicked a victim who got embroiled with a female gang member in the middle of a large crowd. He had in his possession a loaded 9-mm handgun. He avoided prosecution for the assault by pleading guilty to illegal firearm possession, for which he was sentenced to four months of home detention. According to the Times, he had been told by at least four superior court judges that he was not to possess firearms, a proscription that he apparently ignored with impunity.
Read the Whole Article


lewrockwell--2020-02-07--Why Both Republicans and Democrats Want Russia To Become the Enemy of Choice

One of the more interesting aspects of the nauseating impeachment trial in the Senate was the repeated vilification of Russia and its President Vladimir Putin .
To hate Russia has become dogma on both sides of the political aisle , in part because no politician has really wanted to confront the lesson of the 2016 election , which was that most Americans think that the federal government is basically incompetent and staffed by career politicians like Nancy Pelosi and Mitch McConnell who should return back home and get real jobs .
Worse still , it is useless , and much @ @ @ @ @ @ @ thing it can do is steal money from the taxpayers and waste it on various types of self-gratification that only politicians can appreciate .
That means that the United States is engaged is fighting multiple wars against make-believe enemies while the country ’ s infrastructure rots and a host of officially certified grievance groups control the public space .
It sure doesn ’ t look like Kansas anymore .
The fact that opinion polls in Europe suggest that many Europeans would rather have Vladimir Putin than their own hopelessly corrupt leaders is suggestive @ @ @ @ @ @ @ of favorable t-shirts featuring Vladimir Putin on Ebay , also suggesting that most Americans find the official Russophobia narrative both mysterious and faintly amusing .
They may not really be into the expressed desire of the huddled masses in D.C. to go to war to bring true U.S. style democracy to the un-enlightened .
One also must wonder if the Democrats are reading the tea leaves correctly .
If they think that a slogan like “ Honest Joe Biden will keep us safe from Moscow ” will be a winner in 2020 they @ @ @ @ @ @ @ .
Since the focus on Trump ’ s decidedly erratic behavior will inevitably die down after the impeachment trial is completed , the Democrats will have to come up with something compelling if they really want to win the presidency and it sure won ’ t be the largely fictionalized Russian threat .
Against the Left : A Ro ... Llewellyn H Rockwell Jr Best Price : $ 13.57 Buy New $ 8.00 Nevertheless , someone should tell Congressman Adam Schiff , who chairs the House Intelligence Committee , to shut up as @ @ @ @ @ @ @ His “ closing arguments ” speeches last week were respectively two-and-a-half hours and ninety minutes long and were inevitably praised by the mainstream media as “ magisterial , ” “ powerful , ” and “ impressive.
” The Washington Post ’ s resident Zionist extremist Jennifer Rubin labeled it “ a grand slam ” while legal analyst Jeffrey Toobin called it “ dazzling.
” Gail Collins of the New York Times dubbed it “ a great job ” and added that Schiff is now “ a rock star.
” Daily Beast enthused that @ @ @ @ @ @ @ history ” and progressive activist Ryan Knight called it “ a closing statement for the ages.
” Hollywood was also on board with actress Debra Messing tweeting “ I am in tears .
Thank you Chairman Schiff for fighting for our country.
” Actually , a better adjective would have been “ scary ” and not merely due to its elaboration of the alleged high crimes and misdemeanors committed by President Trump , much of which was undeniably true even if not necessarily impeachable .
It was scary because it was a warmongers @ @ @ @ @ @ @ , to Moscow ’ s “ interference ” in 2016 , and to the ridiculous proposition that if Trump were to be defeated in 2020 he might not concede and Russia could even intervene militarily in the United States in support of its puppet .
Schiff insisted that Trump must be removed now to “ assure the integrity ” of the 2020 election .
He elaborated somewhat ambiguously that “ The president ’ s misconduct can not be decided at the ballot box , for we can not be assured that the vote @ @ @ @ @ @ @ unleashed one of the most time honored but completely lame excuses for going to war , claiming that military assistance to Ukraine that had been delayed by Trump was essential for U.S. national security .
He said “ As one witness put it during our impeachment inquiry , the United States aids Ukraine and her people so that we can fight Russia over there , and we don ’ t have to fight Russia here.
” Schiff , a lawyer who has never had to put his life on the line for anything @ @ @ @ @ @ @ , is one of those sunshine soldiers who finds it quite acceptable if someone else does the dying .
Journalist Max Blumenthal observed that “ Liberals used to mock Bush supporters when they used this jingoistic line during the war on Iraq .
Now they deploy it to justify an imperialist proxy war against a nuclear power.
” Aaron Mate at The Nation added that “ For all the talk about Russia undermining faith in U.S. elections , how about Russiagaters like Schiff fear-mongering w/ hysterics like this ?
Let ’ s assume @ @ @ @ @ @ @ a probe of Burisma .
Would that delegitimize a 2020 U.S. election ?
This is a joke.
” Over at Antiwar Daniel Lazare explains how the Wednesday speech was “ a fear-mongering , sword-rattling harangue that will not only raise tensions with Russia for no good reason , but sends a chilling message to [ Democratic Party ] dissidents at home that if they deviate from Russiagate orthodoxy by one iota , they ’ ll be driven from the fold.
” The orthodoxy that Lazare was writing about includes the established Nancy Pelosi/Chuck @ @ @ @ @ @ @ innocent Ukraine ” in 2014 , that it interfered in the 2016 election to defeat Hillary Clinton , and that it is currently trying to smear Joe Biden .
One might add to that the growing consensus that Russia can and will interfere again in 2020 to help Trump .
Absent from the narrative is the part how the U.S. intervened in Ukraine first to remove its government and the fact that there is something very unsavory about Joe Biden ’ s son taking a high-paying sinecure board position from a notably corrupt @ @ @ @ @ @ @ President and allegedly directing U.S. assistance to a Ukrainian anti-corruption effort .
Amazon.com Gift Card i ... Buy New $ 10.00 On Wednesday , Schiff maintained that “ Russia is not a threat … to Eastern Europe alone .
Ukraine has become the de facto proving ground for just the types of hybrid warfare that the twenty-first century will become defined by : cyberattacks , disinformation campaigns , efforts to undermine the legitimacy of state institutions , whether that is voting systems or financial markets .
The Kremlin showed boldly in 2016 that @ @ @ @ @ @ @ Ukraine , they would not stay in Ukraine .
Instead , Russia employed them here to attack our institutions , and they will do so again.
” Not surprisingly , if one substitutes the “ United States ” for “ Russia ” and “ Kremlin ” and changes “ Ukraine ” to Iran or Venezuela , the Schiff comment actually becomes much more credible .
The compulsion on the part of the Democrats to bring down Trump to avoid having to deal with their own failings has brought about a shift in their @ @ @ @ @ @ @ and their friends back in charge .
For Schiff , who has enthusiastically supported every failed American military effort since 9/11 , today ’ s Russia is the Soviet Union reborn , and don ’ t you forget it pardner !
Newsweek is meanwhile reporting that the U.S. military is reading the tea leaves and is gearing up to fight the Russians .
Per Schiff , Trump must be stopped as he is part of a grand Russian conspiracy to overthrow everything the United States stands for .
If the Kremlin is not @ @ @ @ @ @ @ major step , per Schiff , will be to “ remake the map of Europe by dint of military force.
” Donald Trump ’ s erratic rule has certainly dismayed many of his former supporters , but the Democratic Party is offering nothing but another helping of George W. Bush/Barack Obama establishment war against the world .
We Americans have had enough of that for the past nineteen years .
Trump may indeed deserve to be removed based on his actions , but the argument that it is essential to do so because @ @ @ @ @ @ @ Pretty scary that the apparent chief promoter of that point of view is someone who actually has power in the government , one Adam Schiff , head of the House of Representatives Intelligence Committee .
The views of individual contributors do not necessarily represent those of the Strategic Culture Foundation .
The Best of Philip Giraldi

One of the more interesting aspects of the nauseating impeachment trial in the Senate was the repeated vilification of Russia and its President Vladimir Putin. To hate Russia has become dogma on both sides of the political aisle, in part because no politician has really wanted to confront the lesson of the 2016 election, which was that most Americans think that the federal government is basically incompetent and staffed by career politicians like Nancy Pelosi and Mitch McConnell who should return back home and get real jobs. Worse still, it is useless, and much like the one trick pony the only thing it can do is steal money from the taxpayers and waste it on various types of self-gratification that only politicians can appreciate. That means that the United States is engaged is fighting multiple wars against make-believe enemies while the country’s infrastructure rots and a host of officially certified grievance groups control the public space. It sure doesn’t look like Kansas anymore.
The fact that opinion polls in Europe suggest that many Europeans would rather have Vladimir Putin than their own hopelessly corrupt leaders is suggestive. One can buy a whole range of favorable t-shirts featuring Vladimir Putin on Ebay, also suggesting that most Americans find the official Russophobia narrative both mysterious and faintly amusing. They may not really be into the expressed desire of the huddled masses in D.C. to go to war to bring true U.S. style democracy to the un-enlightened.
One also must wonder if the Democrats are reading the tea leaves correctly. If they think that a slogan like “Honest Joe Biden will keep us safe from Moscow” will be a winner in 2020 they might again be missing the bigger picture. Since the focus on Trump’s decidedly erratic behavior will inevitably die down after the impeachment trial is completed, the Democrats will have to come up with something compelling if they really want to win the presidency and it sure won’t be the largely fictionalized Russian threat. Against the Left: A Ro... Rockwell Jr, Llewellyn H Best Price: $2.85 Buy New $8.00 (as of 07:59 UTC - Details)
Nevertheless, someone should tell Congressman Adam Schiff, who chairs the House Intelligence Committee, to shut up as he is becoming an international embarrassment. His “closing arguments” speeches last week were respectively two-and-a-half hours and ninety minutes long and were inevitably praised by the mainstream media as “magisterial,” “powerful,” and “impressive.” The Washington Post’s resident Zionist extremist Jennifer Rubin labeled it “a grand slam” while legal analyst Jeffrey Toobin called it “dazzling.” Gail Collins of the New York Times dubbed it “a great job” and added that Schiff is now “a rock star.” Daily Beast enthused that the remarks “will go down in history” and progressive activist Ryan Knight called it “a closing statement for the ages.” Hollywood was also on board with actress Debra Messing tweeting “I am in tears. Thank you Chairman Schiff for fighting for our country.”
Actually, a better adjective would have been “scary” and not merely due to its elaboration of the alleged high crimes and misdemeanors committed by President Trump, much of which was undeniably true even if not necessarily impeachable. It was scary because it was a warmongers speech, full of allusions to Russia, to Moscow’s “interference” in 2016, and to the ridiculous proposition that if Trump were to be defeated in 2020 he might not concede and Russia could even intervene militarily in the United States in support of its puppet. Schiff insisted that Trump must be removed now to “assure the integrity” of the 2020 election. He elaborated somewhat ambiguously that “The president’s misconduct cannot be decided at the ballot box, for we cannot be assured that the vote will be fairly won.”
Schiff also unleashed one of the most time honored but completely lame excuses for going to war, claiming that military assistance to Ukraine that had been delayed by Trump was essential for U.S. national security. He said “As one witness put it during our impeachment inquiry, the United States aids Ukraine and her people so that we can fight Russia over there, and we don’t have to fight Russia here.”
Schiff, a lawyer who has never had to put his life on the line for anything and whose son sports a MOSSAD t-shirt, is one of those sunshine soldiers who finds it quite acceptable if someone else does the dying. Journalist Max Blumenthal observed that “Liberals used to mock Bush supporters when they used this jingoistic line during the war on Iraq. Now they deploy it to justify an imperialist proxy war against a nuclear power.” Aaron Mate at The Nation added that “For all the talk about Russia undermining faith in U.S. elections, how about Russiagaters like Schiff fear-mongering w/ hysterics like this? Let’s assume Ukraine did what Trump wanted: announce a probe of Burisma. Would that delegitimize a 2020 U.S. election? This is a joke.”
Over at Antiwar Daniel Lazare explains how the Wednesday speech was “a fear-mongering, sword-rattling harangue that will not only raise tensions with Russia for no good reason, but sends a chilling message to [Democratic Party] dissidents at home that if they deviate from Russiagate orthodoxy by one iota, they’ll be driven from the fold.”
The orthodoxy that Lazare was writing about includes the established Nancy Pelosi/Chuck Schumer narrative that Russia invaded “poor innocent Ukraine” in 2014, that it interfered in the 2016 election to defeat Hillary Clinton, and that it is currently trying to smear Joe Biden. One might add to that the growing consensus that Russia can and will interfere again in 2020 to help Trump. Absent from the narrative is the part how the U.S. intervened in Ukraine first to remove its government and the fact that there is something very unsavory about Joe Biden’s son taking a high-paying sinecure board position from a notably corrupt Ukrainian oligarch while his father was Vice President and allegedly directing U.S. assistance to a Ukrainian anti-corruption effort.
Amazon.com Gift Card i... Buy New $10.00 (as of 08:25 UTC - Details) On Wednesday, Schiff maintained that “Russia is not a threat … to Eastern Europe alone. Ukraine has become the de facto proving ground for just the types of hybrid warfare that the twenty-first century will become defined by: cyberattacks, disinformation campaigns, efforts to undermine the legitimacy of state institutions, whether that is voting systems or financial markets. The Kremlin showed boldly in 2016 that with the malign skills it honed in Ukraine, they would not stay in Ukraine. Instead, Russia employed them here to attack our institutions, and they will do so again.” Not surprisingly, if one substitutes the “United States” for “Russia” and “Kremlin” and changes “Ukraine” to Iran or Venezuela, the Schiff comment actually becomes much more credible.
The compulsion on the part of the Democrats to bring down Trump to avoid having to deal with their own failings has brought about a shift in their established foreign policy, placing the neocons and their friends back in charge. For Schiff, who has enthusiastically supported every failed American military effort since 9/11, today’s Russia is the Soviet Union reborn, and don’t you forget it pardner! Newsweek is meanwhile reporting that the U.S. military is reading the tea leaves and is gearing up to fight the Russians. Per Schiff, Trump must be stopped as he is part of a grand Russian conspiracy to overthrow everything the United States stands for. If the Kremlin is not stopped now, it’s first major step, per Schiff, will be to “remake the map of Europe by dint of military force.”
Donald Trump’s erratic rule has certainly dismayed many of his former supporters, but the Democratic Party is offering nothing but another helping of George W. Bush/Barack Obama establishment war against the world. We Americans have had enough of that for the past nineteen years. Trump may indeed deserve to be removed based on his actions, but the argument that it is essential to do so because of Russia lurking is complete nonsense. Pretty scary that the apparent chief promoter of that point of view is someone who actually has power in the government, one Adam Schiff, head of the House of Representatives Intelligence Committee.
The views of individual contributors do not necessarily represent those of the Strategic Culture Foundation.
The Best of Philip Giraldi


lewrockwell--2020-02-07--Writer of the Biological Weapons Anti-Terrorism Act Shares His Thoughts on the Coronavirus

Dr. Francis Boyle is an international law professor at the University of Illinois College of Law .
He currently serves as counsel to Bosnia and Herzegovina and to the Provisional Government of the Palestinian Authority .
He was involved in developing the indictments against Slobodan Milosević for genocide and for other war crimes in Bosnia and Herzegovina .
He is well known globally for representing the Blackfoot Nation ( Canada ) , the Nation of Hawaii , the Lakota Nation , as well as advising on several individual death penalty and human rights cases .
He has been a force @ @ @ @ @ @ @ international bodies in the areas of human rights , war crimes and genocide , nuclear policy , and bio-warfare .
From 1991-92 , he served as Legal Advisor to the Palestinian Delegation to the Middle East Peace Negotiations .
He currently sits on the Board of Directors of Amnesty International , as a consultant to the American Friends Service Committee , and on the Advisory Board for the Council for Responsible Genetics .
Furthermore , he drafted the U.S. domestic legislation for the Biological Weapons Convention , known as the Biological Weapons Anti-Terrorism @ @ @ @ @ @ @ unanimously by both Houses of the U.S. Congress and signed into law .
Amazon.com Gift Card i ... Buy New $ 10.00 He has a lot of knowledge on the topic of biological warfare , which is why it ’ s interesting to hear is thoughts and opinions on the Coronavirus .
As stated in the interview below , he believes that the Coronavirus is a biological warfare weapon , and that it may have leaked out unintentionally .
Regardless , he believes that pharmaceutical companies are set to profit off of this @ @ @ @ @ @ @ Boyle has come across information suggesting that Chinese scientists may have stolen this virus out of a lab in Winnipeg , where Canada tests a lot of their biological warfare weapons .
He believes the virus then leaked out of a lab in Wuhan ( BSL-4 ) , in the wake of reports of previous reports of leaks coming out of this specific lab .
The Wuhan BSL-4 lab is also a specially designated World Health Organization ( WHO ) research lab and Dr. Boyle contends that the WHO knows full well what @ @ @ @ @ @ @ maintains that , while there is truth that the lab in Winnipeg had some policy breaches with researchers who were Chinese nationals , it is not confirmed that this involved stealing the virus and bringing it to Wuhan .
CBC maintains that the connection between this and the outbreak of the Coronavirus in Wuhan is a ‘ conspiracy theory.
’ When it comes to this type of information , and these types of outbreaks , I ’ m reminded of the swine flu outbreak many years ago .
There is a lot of @ @ @ @ @ @ @ by the media , and I personally don ’ t really pay much attention to it .
I ’ m not saying it ’ s not dangerous , and it ’ s not a concern , I ’ m just saying that ultimately it ’ s a waste of time to worry .
At the end of the day , the best thing we can do for ourselves for protection is to simply optimize your health and boost your immune system .
When it comes to this actual virus and it ’ s @ @ @ @ @ @ @ it enough .
I thought it was important to share the interview above from a knowledgeable individual in this area , as mainstream media doesn ’ t seem to go into this type of stuff despite the fact that it does seem like important and relevant information .
Furthermore , it can be confusing when such a well read academic and researcher in the field shares information , yet mainstream media simply categorizes it as a conspiracy theory .
It ’ s always great to look at and listen to multiple sources of @ @ @ @ @ @ @ especially when we are hit so hard with the same thing over and over again by big media .
In my opinion , just as the swine flu , this outbreak will eventually die off .
Hopefully .

Dr. Francis Boyle is an international law professor at the University of Illinois College of Law. He currently serves as counsel to Bosnia and Herzegovina and to the Provisional Government of the Palestinian Authority. He was involved in developing the indictments against Slobodan Milosević for genocide and for other war crimes in Bosnia and Herzegovina.
He is well known globally for representing the Blackfoot Nation (Canada), the Nation of Hawaii, the Lakota Nation, as well as advising on several individual death penalty and human rights cases. He has been a force of good will, having counselled numerous international bodies in the areas of human rights, war crimes and genocide, nuclear policy, and bio-warfare. From 1991-92, he served as Legal Advisor to the Palestinian Delegation to the Middle East Peace Negotiations.
He currently sits on the Board of Directors of Amnesty International, as a consultant to the American Friends Service Committee, and on the Advisory Board for the Council for Responsible Genetics.
Furthermore, he drafted the U.S. domestic legislation for the Biological Weapons Convention, known as the Biological Weapons Anti-Terrorism Act of 1989. It was approved unanimously by both Houses of the U.S. Congress and signed into law. Amazon.com Gift Card i... Buy New $10.00 (as of 08:25 UTC - Details)
He has a lot of knowledge on the topic of biological warfare, which is why it’s interesting to hear is thoughts and opinions on the Coronavirus.
Coronavirus
As stated in the interview below, he believes that the Coronavirus is a biological warfare weapon, and that it may have leaked out unintentionally. Regardless, he believes that pharmaceutical companies are set to profit off of this outbreak in a big way.
Dr. Boyle has come across information suggesting that Chinese scientists may have stolen this virus out of a lab in Winnipeg, where Canada tests a lot of their biological warfare weapons. He believes the virus then leaked out of a lab in Wuhan (BSL-4), in the wake of reports of previous reports of leaks coming out of this specific lab. The Wuhan BSL-4 lab is also a specially designated World Health Organization (WHO) research lab and Dr. Boyle contends that the WHO knows full well what is occurring.
A CBC news report maintains that, while there is truth that the lab in Winnipeg had some policy breaches with researchers who were Chinese nationals, it is not confirmed that this involved stealing the virus and bringing it to Wuhan. CBC maintains that the connection between this and the outbreak of the Coronavirus in Wuhan is a ‘conspiracy theory.’
It appears that the Coronavirus that we are dealing with here is an offensive biological warfare weapon that leaked…I’m not saying it was done deliberately…I’m afraid that’s what we are dealing with today.

Final Thoughts
When it comes to this type of information, and these types of outbreaks, I’m reminded of the swine flu outbreak many years ago. There is a lot of ‘fear propaganda’ being put out by the media, and I personally don’t really pay much attention to it. I’m not saying it’s not dangerous, and it’s not a concern, I’m just saying that ultimately it’s a waste of time to worry.
At the end of the day, the best thing we can do for ourselves for protection is to simply optimize your health and boost your immune system. When it comes to this actual virus and it’s origins, I have not looked into it enough. I thought it was important to share the interview above from a knowledgeable individual in this area, as mainstream media doesn’t seem to go into this type of stuff despite the fact that it does seem like important and relevant information. Furthermore, it can be confusing when such a well read academic and researcher in the field shares information, yet mainstream media simply categorizes it as a conspiracy theory.
It’s always great to look at and listen to multiple sources of information when curious about a topic, especially when we are hit so hard with the same thing over and over again by big media. In my opinion, just as the swine flu, this outbreak will eventually die off. Hopefully.
Reprinted with permission from Collective Evolution.


lewrockwell--2020-02-07--Is There a Market Where I Can Short Liberals?

In Iowa , the party that claims to be devoted to “ science ” and “ technology ” demonstrated that it couldn ’ t count to 10 .
Trump delivered a triumphant State of the Union address , highlighting all he ’ s done to make America great again — and attacking previous administrations for failing to do so .
It was such a bravura performance that when he was finished , Speaker Nancy Pelosi childishly tore up his speech from the podium in a shocking breach of decorum .
Hours after the president ’ s address , he was @ @ @ @ @ @ @ the Senate impeachment trial — if that ’ s the right word for a dismissal of the most absurd charges ever brought against a chief executive .
After weeks of scurrilous accusations against him being made on the Senate floor , Trump ’ s job approval rating in Gallup polling has soared to 49 percent , the highest it ’ s been since he took office .
He should ask Pelosi to impeach him again .
Amazon.com Gift Card i ... Buy New $ 10.00 Liberals know nothing , but always express themselves @ @ @ @ @ @ @ are people who claim to know exactly what the temperature will be a decade from now , but have trouble with what will happen next week .
Their confident predictions are as useless as bill of impeachment or an Iowa vote count .
THE ECONOMY : As you ’ ve probably heard , the economy is booming under President Trump .
Unemployment has fallen to historic lows , more than 7 million jobs have been created , and the stock market keeps setting new records .
… “ In preparation for a completely @ @ @ @ @ @ @ stocks in my kids ’ education accounts today .
I urge u to do same.
” — Kurt Eichenwald on Twitter , Sept. 26 , 2016 “ [ Trump ’ s ] statements reveal a deep ignorance of economics … He promotes magical thinking and conspiracy theories over sober assessments of feasible economic policy options .
… If elected , he poses a unique danger … to the prosperity of the country .
For these reasons , we strongly recommend that you do not vote for Donald Trump.
” — 790 economists , @ @ @ @ @ @ @ The esteemed signatories included a dozen Harvard professors and a slew of Nobel Prize winners , such as Angus Deaton of Princeton , Oliver Hart and Eric Maskin of Harvard , and Kenneth J. Arrow of Stanford , as well as four others evidently not interesting enough to be mentioned in articles about the letter .

It’s been a great week!
In Iowa, the party that claims to be devoted to “science” and “technology” demonstrated that it couldn’t count to 10.
Trump delivered a triumphant State of the Union address, highlighting all he’s done to make America great again — and attacking previous administrations for failing to do so. It was such a bravura performance that when he was finished, Speaker Nancy Pelosi childishly tore up his speech from the podium in a shocking breach of decorum.
Hours after the president’s address, he was scheduled to be “acquitted” in the Senate impeachment trial — if that’s the right word for a dismissal of the most absurd charges ever brought against a chief executive.
After weeks of scurrilous accusations against him being made on the Senate floor, Trump’s job approval rating in Gallup polling has soared to 49 percent, the highest it’s been since he took office. He should ask Pelosi to impeach him again. Amazon.com Gift Card i... Buy New $10.00 (as of 08:25 UTC - Details)
And the week is young! We should cap it off with something fun. For your gloating pleasure, let’s take a stroll down memory lane.
Liberals know nothing, but always express themselves with great bravado and certainty. These are people who claim to know exactly what the temperature will be a decade from now, but have trouble with what will happen next week. Their confident predictions are as useless as bill of impeachment or an Iowa vote count.
THE ECONOMY: As you’ve probably heard, the economy is booming under President Trump. Unemployment has fallen to historic lows, more than 7 million jobs have been created, and the stock market keeps setting new records. …
“In preparation for a completely unpredictable Trump presidency, I sold all stocks in my kids’ education accounts today. I urge u to do same.” — Kurt Eichenwald on Twitter, Sept. 26, 2016
“[Trump’s] statements reveal a deep ignorance of economics … He promotes magical thinking and conspiracy theories over sober assessments of feasible economic policy options. … If elected, he poses a unique danger … to the prosperity of the country. For these reasons, we strongly recommend that you do not vote for Donald Trump.” — 790 economists, the week before the 2016 election. The esteemed signatories included a dozen Harvard professors and a slew of Nobel Prize winners, such as Angus Deaton of Princeton, Oliver Hart and Eric Maskin of Harvard, and Kenneth J. Arrow of Stanford, as well as four others evidently not interesting enough to be mentioned in articles about the letter.
Read the Whole Article


lewrockwell--2020-02-07--Pompeii’s Ancient Drains are Still in Working Order and Will Be Used Again To Empty Rainwater Into t

Pompeii’s Ancient Drains are Still in Working Order and Will Be Used Again To Empty Rainwater Into the sea 2,300 Years After They Were Built

Pompeii ’ s ancient drainage system is in such good condition that it is set to be put back into active service , despite being built almost 2,300 years ago .
A 1,500ft stretch of tunnels underneath some of the famed Italian city ’ s most iconic structures was originally built to drain water downhill away from Pompeii ’ s centre .
Analysis of the tunnels revealed they had been almost untouched for millennia and the complex system is still in excellent condition .
‘ The entrances to the drains were blocked but since we have problems today with flooding @ @ @ @ @ @ @ again , ’ Massimo Osanna , the director of the site , told The Times .
Amazon.com Gift Card i ... Buy New $ 10.00 ‘ The fact we can do this is testament to the excellent engineering skills at the time.
’ A project has seen the Archaeological Park of Pompeii partner up with speleologists — professional cave analysts — from the Cocceius Association .
Since 2018 , the 1,500ft ( 457m ) network of tunnels — which are big enough for a human to fit inside — has been carefully assessed @ @ @ @ @ @ @ now undergo similar analysis to determine its state and if it is fit to be used again .
Pictured , where the 1,500ft of drainage tunnels lies underneath the city of Pompeii .
They carried rain and floodwater away from the city centre and into the sea

Pompeii's ancient drainage system is in such good condition that it is set to be put back into active service, despite being built almost 2,300 years ago.
A 1,500ft stretch of tunnels underneath some of the famed Italian city's most iconic structures was originally built to drain water downhill away from Pompeii's centre.
Analysis of the tunnels revealed they had been almost untouched for millennia and the complex system is still in excellent condition.
Scroll down for video
Since 2018, the 1,500ft (457m) network of tunnels (pictured), which are big enough for a human to fit into, have been carefully assessed
Pictured, where the 1,500ft of drainage tunnels lies underneath the city of Pompeii. They carried rain and floodwater away from the city centre and into the sea
It was built in three phases dating back as far as 3rd century BC by the Samnites. The system spans from the Pompeii Forum (pictured right as FC), underneath Via Marina (pictured as VM) and ends at the Imperial Villa (VI)
Two manholes in the Civil Forum (pictured as Tombino) near the Centaur statue provide access into the drainage system. It then heads downhill underneath Via Marina and terminates near the Imperial Villa
'The entrances to the drains were blocked but since we have problems today with flooding from rain we will start using them again,' Massimo Osanna, the director of the site, told The Times.
'The fact we can do this is testament to the excellent engineering skills at the time.'
A project has seen the Archaeological Park of Pompeii partner up with speleologists — professional cave analysts — from the Cocceius Association.
Since 2018, the 1,500ft (457m) network of tunnels — which are big enough for a human to fit inside — has been carefully assessed.
A further 1,500ft of tunnels will now undergo similar analysis to determine its state and if it is fit to be used again.
A project has seen the Archaeological Park of Pompeii partner up with speleologists — professional cave analysts — from the Cocceius Association to study the tunnels
A further 1,500ft of tunnels will now set to undergo similar analysis to assess its state and if it is fit to be used again following the success of the first analysis
The system allowed excess rainwater to be drained out of the ancient city, towards the sea. The network is complex but structurally sound and the project revealed the tunnels were built in three phases
Two manholes in the Civil Forum near the Centaur statue provide access into the drainage system.
It then heads downhill underneath Via Marina and terminates near the Imperial Villa.
The system allowed excess rainwater to be drained out of the ancient city, towards the sea.
The network is complex but structurally sound and the project revealed that the tunnels were built in three distinct phases.
Initially, the system was constructed in the late 3rd or early 2nd century BC, in the so-called Hellenistic phase, by the Samnites who inhabited the city before the Romans.
It was then expanded by the Romans using their famed engineering know-how in the 1st century BC before being put on pause for almost a century.
The study dubbed this the Republican phase.
Evidence inside the tunnel showed its third and final potion was built in the years preceding the devastating 79AD eruption of Vesuvius that destroyed the city.
'The project of exploring these tunnels forms part of the activities of the Archaeological Park of Pompeii that aim to broaden our understanding of the site, which is the essential basis of any monitoring or safeguarding intervention', Massimo Osanna, Director General of Archaeological Park of Pompeii, said in a statement.
'This initial, but complete, exploration of the complex system of underground canals confirms the cognitive potential which the Pompeian subsoil preserves, and demonstrates how much still remains to be investigated and studied.
'Furthermore, many gaps in knowledge from the past regarding certain aspects or areas of the ancient city are being filled, thanks to the collaboration of experts in various sectors, which allow us to gather ever more accurate data as a result of specialised skills which had never been employed in other periods of excavation or study.'
Initially, the system was constructed in the late 3rd or early 2nd century BC in the so-called Hellenistic phase by the Samnites who inhabited the city before the Romans. It was then expanded by the Romans up until the eruption of Vesuvius in 79AD
Analysis of the tunnels revealed they had been almost untouched for millennia and the complex system is still in excellent condition