Finally an Austrian gets to debate arch-statist Paul Krugman. Ron successfully shows Krugman to be a complete idiot (not that we need any more evidence).
First, he owns his "Austrians want to go backwards in monetary policy by 150 years" quip by pointing out inflationists want to go back 1000-2000 years to the inflationary policies of the Roman & Greek empires. (See: The Decline and Fall of the Roman Denarius)
Second, he points out gold should be legal currency rather than forbidden by threats of jail, Krugman moronically says there is no prohibition on using gold as a currency, despite legal tender laws explicitly stating nothing other than the US dollar can be used as a currency, and despite gold facing oppressive capital gains taxes which ruin it's value as an inflation hedge/alternative currency. Krugman laughs at the idea government laws are backed by the barrel of a gun, I guess he thinks people follow the government's idiotic regulations because imbued in the pens of the legislature is the ability to magically change everyone's behaviour through the stroke of a pen. (See: The Gun in the Room)
See our archives for some of Krugman's greatest hits.
Nina Rhodes-Hughes, 78, tells CNN that the FBI "twisted" her original statements to authorities. In recent court filings led by California Attorney General Kamala Harris, state prosecutors argue that even if there... (more)
How to Ruin a Kid's Life
posted 05/01/2012, 4:59 AM (Jeffrey Tucker) [Category: Commentary] I was just down at the "feed and seed" buying two baby chicks to replace my female duck that was carried off by a bird of prey, leaving one lonely male duck behind. No one told me that ducks don't like chicks. The rest of the story is, well, let's just say "it's complicated."
In any case, the details distract from the reason I'm bringing this up at all: The store was bustling with activity and filled with rural people of all ages. Yes, lots of kids too. Prepare yourself for a shoc... (more)
CBS Runs Defense For 'Everyone's a Terrorist' FBI Flyers
posted 05/01/2012, 4:58 AM (Infowars) [Category: Big Brother/Orwellian] Despite being the subject of online ridicule for months, flyers put out by the FBI under the ‘Communities Against Terrorism’ program, which frame behavior including using cash to pay for a cup of coffee as a suspicious activity, have been characterized as reasonable by the mainstream media, even as the New York Times admits that the FBI has originated most of the recent terror plots in the United States.
Hugh Hendry Is Back - Full Eclectica Letter
posted 05/01/2012, 4:58 AM (ZeroHedge) [Category: Economy] Hugh Hendry is back with a bang after a two year hiatus with what so many have been clamoring for, for so long - another must read letter from one of the true (if completely unsung) visionary investors of our time: "I have not written to you at any great length since the winter of 2010. This is largely because not much has happened to change our views. We still see the global economy as grotesquely distorted by the presence of fixed exchange rates, the unraveling of which is creating financial a... (more)
Since the end of March, a number of anonymous bomb threats have been emailed to the University of Pittsburgh. Through its investigation, the FBI discovered the threats were being relayed through a server hosted by the progressive cooperative Internet Service Provider (ISP) May First/People Link (May First). The serve... (more)
UK ISPs Must Censor The Pirate Bay, High Court Rules
posted 05/01/2012, 4:56 AM (TorrentFreak) [Category: Big Brother/Orwellian] The High Court has ruled that several UK ISPs including Sky, Everything Everywhere, TalkTalk, O2 and Virgin Media must censor The Pirate Bay website. This means that millions of Internet users will be prevented from accessing the popular BitTorrent site in the weeks to come. The Pirate Bay say they aren’t concerned by yet another court-ordered blockade, and point out that there are plenty of ways to circumvent such censorship.
After the MPA won its blocking case against the Newzbi... (more)
Abydos hedge fund prepares for Iran strike
posted 05/01/2012, 4:55 AM (Reuters) [Category: Economy] Abydos Capital, a new hedge fund run by a former partner at one of London's most high-profile oil investors, is worried about a potential military strike against Iran and plans to use options to protect his portfolio.
Jean-Louis Le Mee, Chief Investment Officer of Abydos, told Reuters he thinks there is a 25 to 50 percent chance of an Israeli strike against Iran's nuclear capabilities, an act that would likely send stock markets tumbling and drive up oil prices, hitting hedge fund... (more)
So You Work for a Prosecutor?
posted 05/01/2012, 4:54 AM (Strike-The-Root) [Category: Commentary] Getting bad guys off the street is surely a good and noble objective, a vital task in a civilized society. So what can possibly be dishonest about working for a prosecutor?
Nothing here is meant to suggest that if you hold such a job, you're giving it less than your best effort. Problems arise, though, if we consider the reasoning in this comparison with the Mafia; you are helping prosecute thieves, while being paid with stolen money! The fact that your employer has solemnly decl... (more)
Government Employees Should Not Be Taxed
posted 05/01/2012, 4:54 AM (Libertarian News) [Category: Economy] One of the things I find to be humorous about mainstream economics is the inclusion of government spending in the GDP metric. When government spending is included in this metric, it makes the assumption that government spending adds to the real wealth of the nation. Since “real” wealth translates into actual material goods and services that benefit humanity, w... (more)
Other universities with major endowments--including Yale and Princeton (from which the author of this article graduated)--also saw massive increases in their endowme... (more)
Behind the scenes on Kimmel's big night
posted 05/01/2012, 4:54 AM (Power Players) [Category: General] This past weekend was what Washington, D.C. likes to call "nerd prom," more officially known as the White House Correspondents' Association's Dinner. Saturday's entertainment was none other than Jimmy Kimmel. Just before the big night, Kimmel opened up to ABC News' Jake Tapper about preparing the routine, lessons learned from past comedians, and deciding what is off limits for a crowd that includes the President of the United States and Kim Kardashian.
He tweeted: “Because I criticized the President, it’s news? Last I checked, he’s President, not King! This is America! Freedom of Speech. what’s the [big f**king deal]?”
Managed funds slashed 2,225 long positions, or bets prices will rise, and added 2,450 short positions, or bets prices will fall.
CITI: Gold will surge to $2,400 within 12 months
posted 05/01/2012, 4:52 AM (Business Insider) [Category: Economy] ...We’ve done that again here, and the present pattern we look at is setup similarly to that of 2006. In 2006 we had a similar type of consolidation and sideways moving pattern, which eventually gave way to a significant push to the topside. We believe the same thing is happening again here.
We’ve already iterated a target in the more medium to long-term of $3,400, and over the next twelve months as high as $2,400. We believe gold is now setup, with a bullish weekly reversal la... (more)
Amazing Photos Show What the World Really Eats
posted 05/01/2012, 4:52 AM (Natural Society) [Category: Health] What do you and your family eat each week? You may be shocked to see the significant variation even between relatively ‘similar’ nations when it comes to diet. While many families within the United States and Mexico include fast food and soda into the core of their nutritional program, families from nations like Bhutan survive off of traditional base food items like vegetables and grains. It is easy to see why disease rates are skyrocketing in many developed countries, where nutrition is not hel... (more)
These days my picture would be around 33% meat, 33% veggies, 33% eggs/butter/cheese & all spring water/sparkling water to drink! - Chris
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in Europe
The New American Century: The Untold History of The Project for the New American Century
I was just down at the "feed and seed" buying two baby chicks to replace my female duck that was carried off by a bird of prey, leaving one lonely male duck behind. No one told me that ducks don't like chicks. The rest of the story is, well, let's just say "it's complicated."
The High Court has ruled that several UK ISPs including Sky, Everything Everywhere, TalkTalk, O2 and Virgin Media must censor The Pirate Bay website. This means that millions of Internet users will be prevented from accessing the popular BitTorrent site in the weeks to come. The Pirate Bay say they aren’t concerned by yet another court-ordered blockade, and point out that there are plenty of ways to circumvent such censorship.
Cop Who Karate Chopped NY Judge In Throat Gets Off Scot-Free
Florida Cop Smashes Compliant Woman's Face Into Car -- "Maybe Now You Can Understand Simple Instructions"
VIDEO: Lapel Cam Reveals A Day In The Life Of A U.S. Police Officer (Tasing, Beating, Breaking & Entering, Stomping On Heads... and Laughing About It)
Caught On Tape: Officer Sucker Punches Inmate In Face, Files Report Claiming 'Self Defense'
Insult Person On Twitter, Go To Jail
SWAT Team Brings TV Crew To Film Raid Against Threatening Internet Critic -- Raids Innocent Grandma Instead
Cop Karate Chops NY Judge In The Throat
When the Right to Resist Becomes the "Duty to Submit"