Two lectures by Hayek on government and economics
First, “Free-Market Monetary System” regarding private money.Second, “Pretense of Knowledge”, Hayek’s “shocking Nobel speech that explained why the very idea of government [intervening in market¹] in our times is unintellectual, presumptuous, and untenable. He is as critical of socialism as he is of interventionism. He shows that the state is not capable of doing all that it is charged with doing, and why conceding it any role in social and economic management is dangerous to liberty.”When a little over two years ago, at the second Lausanne Conference of this group, I threw out, almost as a sort of bitter joke, that there was no hope of ever again having decent money, unless we took from government the monopoly of issuing money and handed it over to private industry, I took it only half seriously. But the suggestion proved extraordinarily fertile. Following it up I discovered that I had opened a possibility which in two thousand years no single economist had ever studied. There were quite a number of people who have since taken it up and we have devoted a great deal of study and analysis to this possibility.
As a result I am more convinced than ever that if we ever again are going to have a decent money, it will not come from government: it will be issued by private enterprise, because providing the public with good money which it can trust and use can not only be an extremely profitable business; it imposes on the issuer a discipline to which the government has never been and cannot be subject. It is a business which competing enterprise can maintain only if it gives the public as good a money as anybody else. […]
In addition, he criticizes pseudo-scientific approach to economics resulting from erroneous assumption that economics is in essence no different from disciplines like physics.Both essays are now available in a small, pocket-book edition.On the one hand the still recent establishment of the Nobel Memorial Prize in Economic Science marks a significant step in the process by which, in the opinion of the general public, economics has been conceded some of the dignity and prestige of the physical sciences. On the other hand, the economists are at this moment called upon to say how to extricate the free world from the serious threat of accelerating inflation which, it must be admitted, has been brought about by policies which the majority of economists recommended and even urged governmentsto pursue. We have indeed at the moment little cause for pride: as a profession we have made a mess of things².It seems to me that this failure of the economists to guide policy more successfully is closely connected with their propensity to imitate as closely as possible the procedures of the brilliantly successful physical sciences — an attempt which in our field may lead to outright error. It is an approach which has come to be described as the “scientistic” attitude — an attitude which, as I defined it some thirty years ago, “is decidedly unscientific in the true sense of the word, since it involves a mechanical and uncritical application of habits of thought to fields different from those in which they have been formed.” I want today to begin by explaining how some of the gravest errors of recent economic policy are a direct consequence of this scientistic error. […]
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¹ Gotta love anarchists. Hayek may only talk about economics and social policy — they will turn it into a denial of state altogether.
² It’s amazing how these words said in 1974 might as well have been said yesterday. I suppose, “history teaches people that people learn nothing from history”.
There is no knowledge of the firearms he wants banned here. “Assault weapons” is a make-believe term; military standard already banned.
Dana Loesch (via thegayrepublican)
Well, strictly regulated by the Feds since 1934.
(via nomosshere)
(via nomosshere)
Gold and Silver Prices Are Down - So What, Buy More: Peter Schiff
http://usawatchdog.com/peter-schiff-get-real-money-gold-and-silver-as-the-fed… Peter Schiff, CEO of Euro Pacific Precious Metals, thinks talk from the Fed of stopping the $85 billion a month money printing (QE) is preposterous. Schiff says, “They can’t do it… . The minute they try to take the cheap money away, the phony economy is going to crumble.” What’s not going to crumble is the gold and silver market. Even though the precious metals are down recently, Schiff says, “So what, buy more. Look at the sell off as an opportunity to unload more of your fiat currency and get some real money.” Join Greg Hunter as he goes One-on-One with money manager Peter Schiff.
Mises torrents 4.0 available
Mises.org has just released new torrents. A full library of Austrian economics and Libertarian philosophy. Its books (8.6) GB, media: (114 GB), and journals (4.3GB). Well worth the download if you are interested in economics and liberty.
English: Photo mosaic of the Mises family coat of arms made with book covers from works of the Austrian School of Economics (Photo credit: Wikipedia)
Bank of America To Charge Customers Fees Unless They Buy More Products, Have Enough Money
oh America…what a great nation we live in…how’s that capitalism thing working for you..
Reports the Week via Yahoo News:
The banking giant is attracting criticism once again, with a plan to make checking accounts a whole lot more expensive Bank of America is working on “sweeping changes” that would levy new fees on customers with checking accounts, The Wall Street Journal reports. Proposed fees, ranging from $6 to $25 a month, could only be waived if customers meet certain requirements that favor the bank — by keeping a minimum balance, taking out a mortgage, or switching to online banking. The report comes months after Bank of America withdrew a proposed $5 monthly fee for using debit cards, after suffering a backlash from customers and lawmakers alike. Unsurprisingly, the new fee plan is already being slammed: Sen. Richard Durbin (D-Ill.) calls it “a challenge that cannot go unanswered.” Is the bank’s scheme outrageous?
Of course. Banks are extorting customers: It’s bad enough that BofA tried to instate the $5 fee for debit card users, says Hamilton Nolan at Gawker. But the new fees — driven by the struggling bank’s “insatiable need for sweet, sweet money” — are even “sneakier.” And BofA is neglecting an age-old principle of finance: Banks use customer deposits to make loans to others, which in turn results in profits for the banks. It’s “ridiculous” to charge customers for providing banks with the capital that is essential to their business.
But banks have a right to turn a profit: “Banks aren’t charities,” says Pallavi Gogoi for the Associated Press. They are “public companies and are expected to make a profit somehow.” Making money is “not as easy as it used to be.” With the Fed encouraging ultra-low interest rates, banks are seeing their traditional profit source dry up. New government regulations have curbed other banking fees, and banks are scrambling to make up for the loss of revenue …
Read More: The Week via Yahoo News
“The Hoover-Roosevelt-Bush-Obama do-something-anything-everythi ng approach to economic recovery seems to result in elongated depressions. In the Washington Post, James Grant says we should try the Harding approach instead.” — David Boaz
And how did the administration of Warren G. Harding, in conjunction with the Federal Reserve, produce these astonishing results? Why, by raising interest rates, reducing the public debt and balancing the federal budget.
A DECLARATION OF FREEDOM FROM THE TYRANNY OF THE UNITED STATES FEDERAL GOVERNMENT
I do not agree with the below declaration, but I wanted to help you see another opinion:
There comes a time in the affairs of humankind when it becomes necessary to throw off the yoke of tyranny which has insidiously taken over the governments of the world. That moment has arrived, as this still new millennium has ineluctably placed demands on We The People to stand in our own truth and take back our power. Herein lies the demands that We The People speak to power with indomitable conviction and undeterrable resolve.
We The People of the USA inaugurate this global civil enterprise through these uncompromising demands made directly to the Executive, Legislative and Judicial Branches of the United States Federal Government. As but a single representative of the world body politic, we implore the community of nations, and all peoples everywhere, to undertake this same endeavor wherever the need has become self evident.
We The People of these United States of America (USA) do solemnly take back our rights, liberties and powers, which are considered by all righteous governments to be inalienable, from an unlawful and tyrannical US Federal Government that has wrongfully and systematically encroached upon the inherent rights of its citizens.
We The People acknowledge the wrongful usurpation of powers, as well as jurisdictional and legal necessities originally possessed by the fifty Sovereign States of the USA. Through a longstanding pattern of legislation of unconstitutional law, these inherent powers have been unlawfully stripped from these Sovereign States. Each State is now fully empowered to retain their original sovereign status as established by the US Constitution.
We The People demand that the US Federal Government immediately cease and desist from legislating, executing and adjudicating all law which is not in strict compliance with natural law, common law and constitutional law. Furthermore, we demand an expeditious review of all US Federal Statutes in order to determine their fitness in this regard.
We The People demand that the US Federal Government immediately cease and desist from all illegal enforcement actions against its citizens, as well as citizens of other nations, which are in obvious contravention of international law, scriptural law, common law and US constitutional law. Toward this end, we demand the immediate closure of the extra-judicial detention facility in Guantanamo Bay, as well as the Bagram Internment Facility and all others that operate outside the rubric of both the US Criminal Law Code and Uniform Code of Military Justice.
We The People demand an immediate and permanent suspension of each and every law, statute and rule/regulation that is in violation of divinely ordained human rights, civil rights, and constitutional rights. Especially where these rights are violated in the course of the repugnant state-sponsored administration of torture by the US Federal Government and its proxies in “safe” national havens around the world, we demand immediate termination of such inhumane and unacceptable conduct.
We The People demand an immediate cessation to all war-making activity around the world to include the illegal and undeclared wars in Iraq, Afghanistan and Pakistan. This demand also includes the many wars being waged by proxy through covert agencies (CIA), as well as by all corporate, mercenary entities such as Wackenhut and Xe Services (Blackwater). The US Government will immediately end the illegal and abhorrent practices of rendition, as well as the extrajudicial killing of foreign citizens by drones and any other means utilized in foreign lands.
We The People further demand that all economic and financial warfare being waged against the perceived enemies of the USA be permanently ended. The relentless manipulation of the financial/economic markets of the world, to include equity, bond, commodity, real estate, derivative and currency, must cease without exception. Furthermore, the US Federal Reserve (privately owned, international crime syndicate) must be placed in a temporary receivorship, as its collection agency, the IRS, is dissolved and reconstituted as a lawful revenue-collecting entity in order to carry on the affairs of State.
We The People demand that the aerosol spraying of chemtrails in our skies, fluoridation of our water supplies, and the irradiation and chemical poisoning of our food be stopped. The EPA, FDA and NIH will be re-chartered, as will all other agencies and departments which have profoundly violated the public trust. The critical Departments of Homeland Security, Treasury, Energy and Interior will be subjected to an immediate review and reorganization in the interest that the People will be served first, not the corpocracy which has been unduly enriched for many decades.
We The People demand a planned and orderly dissolution of the current US Federal Government. It has become apparent to all citizens, that there has been a multi-decade and ongoing pattern of conduct throughout the executive, legislative and judicial branches of the US Government, which has been deemed to be in profound and fundamental violation of both the Public Trust and Social Contract. Through this intractable behavior, the sacred and inviolable Governing Documents of this once great nation have been left in tatters. We aim to see them restored to their rightful place and, over time, greatly improved upon to reflect the evolving realities and emerging needs of a rapidly changing world.
We The People demand the planned election and appointment of a law-abiding transitional US government, which will assume the proper, timely and thorough administration of all duties and responsibilities starting with strict compliance with the US Constitution and the Bill of Rights. This transitional government shall override all powers and perceived rights of governance which have been unlawfully arrogated unto the US Corporation and executed through the Uniform Commercial Code (UCC).
Finally, We The People demand that a TRUTH AND RECONCILIATION COMMISSION be established in order for the suppressed truths regarding all matters of State that have taken place without the People’s knowledge and consent, and which have unduly put the American people at great risk and in substantial jeopardy, be given a full airing within the body politic.We The People have spoken, and we expect a substantive response to these demands in the immediate future, whereupon the appropriate re-establishment of this Constitutional Republic may proceed forthwith. A national conference to discuss the RESTORE AMERICA PLAN will be convened as soon as possible.
May God Bless America.Concerned Citizens of the Fifty Sovereign States
Declaration Issued on Independence Day, July 4, 2010
“The Federal Reserve is responsible for the boom-bust cycles. It’s responsible for price inflation, recession, depression, and excessive debt. Although the central bank can get away with mismanagement of the economy for long periods of time, its policies are always destructive. Unchecked, the policies of a central bank lead to financial chaos, an example of which we are now experiencing.” - Ron Paul
(via darrellfalconburg)
Big Brother Arrives To Monitor Dissent
DHS Attacks Constitutional Right to Anonymity
This has nothing at all to do with keeping us safe:
- Remember, widespread spying on Americans began before 9/11.
- The Federal Reserve is also apparently going to start monitoring all criticism against it.
- In modern America, the government has been using anti-terror laws to crush dissent.
- Protest is considered low-level terrorism, as is questioning war, asking questions about pollution or about Wall Street shenanigans, supporting Ron Paul, being a libertarian, holding gold, stocking up on more than 7 days of food, or investigating factory farming.
- Even pointing out that the government is exercising tyrannical powers can get you harassed.
- We’ve gone from a nation of laws to a nation of powerful men arbitrarily making laws in secret in order to protect their power.
Dennis Kucinich On Freedom Watch: The Case to End the Fed 01-16-12 (by PenguinProseMedia)
Rep. Kucinich and Judge Napolitano discuss the unconstitutional Federal Reserve. FBN Jan-16-2012.
