Author Archives: Antonius Aquinas

     

 

 

A Review of Murray N. Rothbard’s Conceived in Liberty, Vol. 5

Holy Writ

The posthumous release of Murray Rothbard’s fifth volume of his early American history series, Conceived in Liberty, is a cause of celebration not only for those interested in the country’s constitutional period, but also for the present day as the nation is faced with acute social, economic, and political crises.

 

Murray Rothbard, the foremost representative of the “American branch” of the Austrian School of Economics was not only an accomplished economic theorist, but also a great historian and political philosopher, who provided us with highly valuable insights and critical rebuttals of what is considered established and “acceptable” opinion these days. [PT]

 

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The Rise of Total War

Prior to the modern age, when war was engaged in, combatants, for the most part, acted by a code of conduct which attempted to minimize civilian deaths and the destruction of non-participants’ property. With the onset of the democratic age and the idea of “total war” such modes of conduct have tragically fallen by the wayside, the consequence of which has made warfare far more bloody and destructive.

 

Iranian Seiji-2 missile. Of course, we cannot really be certain whether or not the mullahs running Iran are fibbing about their nuclear ambitions – but the fatwa against nuclear armaments discussed below does indeed exist. [PT]

Photo via farsnews.com

 

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Demonocracy: The Great Human Scourge!

 

Review: Christophe Buffin de Chosal, The End of Democracy, Translated by Ryan P. Plummer.  Printed in the U.S.A.: Tumblar House, 2017.

 

Christophe Buffin de Chosal: The End of Democracy. Needless to say, Buffin de Chosal is quite a controversial political philosopher. While this is not the first book trying to demystify modern-day democracy, such critical assessments are rare. One of the best-known efforts is Hans-Hermann Hoppe’s Democracy, the God that Failed, which considers  democracy and other political dispensations primarily from the perspective of the time preferences of the ruling classes. [PT]

 

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An Ominous Sign of Things to Come

Despite being probably robbed of the Democratic Party’s nomination by the Clinton political machine, the success of the Bernie Sanders’ 2016 campaign with his advocacy of “democratic socialism” was an ominous sign of things to come and, in some sense, more telling of the political climate than Donald Trump’s improbable victory in November, 2016.

 

Bernie Sanders, yet another professional finger-wagger (he is actually famous for his constant finger-wagging by now). Never trust a politician who keeps wagging his finger in  admonishment – he or she is almost certainly a wanna-be authoritarian. [PT]

Photo by Win McNamee / Getty Images

 

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Yosemite Sam Gets Worried About Federal Debt

In a talk which garnered little attention, one of the Deep State’s prime operatives, National Security Advisor John Bolton, cautioned of the enormous and escalating US debt.

 

Deep State operative John Bolton, a.k.a. Yosemite Sam [PT]

Photo credit: Mark Wilson / Getty Images

 

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Glitches on the Road to MAGA

While the farcical Kavanaugh confirmation hearings dominated the news cycle for the past couple of weeks, little mention was made of a disturbing economic headline – the August US trade deficit. Despite all the bluster from the Trump Administration about “winning trade wars” and “trade wars are easy”, America’s trade imbalances for August were the highest ever and its deficit with its most contentious partner – China – reached an all-time high.

 

Bi-directional trade bazooka [PT]

 

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A Piece of Paper Alone Cannot Secure Liberty

The idea of a constitution and/or written legislation to secure individual rights so beloved by conservatives and among many libertarians has proven to be a myth. The US Constitution and all those that have been written and ratified in its wake throughout the world have done little to protect individual liberties or keep a check on State largesse.

 

Sound money vs. a piece of paper – which is the better guarantor of liberty? [PT]

 

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Bombs Away!

Two recent articles* have again demonstrated that the greatest “terrorist” entity on earth are not the bogymen – Russia, China, Iran, North Korea – so often portrayed by Western presstitutes and the American government, but the United States itself!

 

This is an old cartoon, but still a good one. It perfectly describes the trigger-happy Western political class and the depth of its “thinking”. By happenstance we recently reviewed the Libya intervention (Libya is the failed state in the Maghreb that used to be one of the most prosperous countries in Africa). The eccentric tinpot dictator Gadaffi was not necessarily likable, although he was certainly entertaining from afar. But everything we were told by the press about his actions and plans during the “Arab Spring” that was used by Western politicians as a justification for  bombing the country back into the stone age and making it a safe haven for jihadists and crazed warlords in which inter alia slave markets are thriving openly these days, was a lie. It was really nothing but lies from A to Z, essentially a repetition of the pre-Iraq war playbook. After a UK parliamentary report pointed all of this out after a comprehensive post mortem investigation (it included the evidence that was deliberately withheld in the run-up to the intervention), some apologists tried to argue that political leaders at the time were perhaps not sufficiently informed and made a few small but ultimately excusable “mistakes” in their eagerness to save innocent lives. Right – after all, they only had the most sophisticated surveillance and espionage systems in all of history at their disposal. Anyone interested in a bridge in Brooklyn? [PT]

 

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Redefined Terms and Absurd Targets

At one time, the Federal Reserve’s sole mandate was to maintain stable prices and to “fight inflation.”  To the Fed, the financial press, and most everyone else “inflation” means rising prices instead of its original and true definition as an increase in the money supply.  Rising prices are a consequence – a very painful consequence – of money printing.

 

Fed Chair Jerome Powell apparently does not see the pernicious effects of inflation (at least he seems to be looking around… [PT])

Photo credit: Andrew Harrer / Bloomberg

 

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Voting with their Feet

A couple of recent articles have once more made the case, at least implicitly, for political decentralization as the only viable path which will begin to solve the seemingly insurmountable political, economic, and social crises which the Western world now faces.

 

Fracture lines – tax and regulatory competition allows people to “vote with their feet” – and they certainly do. [PT]

 

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Contradictory Palaver

The recent hullabaloo among President Trump’s top monetary officials about the Administration’s “dollar policy” is just the start of what will likely be the first of many contradictory pronouncements and reversals which will take place in the coming months and years as the world’s reserve currency continues to be compromised.  So far, the Greenback has had its worst start since 1987, the year of a major stock market reset.

 

A modern-day reenactment of the famous “our currency, your problem” play that went over so extremely well in the 1970s… [PT]

 

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A Brief Outbreak of Sanity

After nearly a year of gaffes, provocations, threats, bombings, destabilizing arms deals, and, most recently, the disastrous decision to recognize Jerusalem as the capital of Israel, the sanest member of the Trump Administration, Secretary of State Rex Tillerson, appeared to have begun a new and promising diplomatic direction in relations with tiny, beleaguered North Korea.

 

Oil man and uranium man – will there be an exchange of binoculars soon? As regular readers know, after studying numerous official photographs of Kim, we have concluded that what he really wants is a pair or two of really spiffy new binoculars. International diplomacy is not exactly rocket science, one just needs to be a little observant. And giving him new field glasses would be a lot cheaper, less bloody, and less likely to generate unhealthy levels of radiation than waging war.  [PT]

Screenshot via nypost.com

 

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Most read in the last 20 days:

  • Silver “Scarcifies” – Precious Metals Supply and Demand
      On Monday, Silver got Scarcer – and Simpler On 23 July, we said:   “Well, it’s complicated.”   The action on 27 July was not.   Silver spot price vs. September basis   Notice the big drop in the basis starting around midnight (London time). It falls from over 7% to under 2%. To refresh: Basis = Future(bid) - Spot(ask) For the first two and half hours, the spot price is not moving. So, the only way the basis can drop is if the price...
  • Silver Explodes — But Why? Precious Metals Supply and Demand
      Explosive Days in Silver The silver market witnessed another explosive day! At midnight (in London), the price of the metal was $26.90. By 9pm, it had rocketed up to $28.95, a gain of 7.6%. This is not normal. But then, we are not in a normal world.   After several years of going nowhere and a downside fake-out in March this year, silver has come to life rather dramatically... [PT]   The Republicans are spending like drunken Modern Monetary Sailors. And...
  • Best Laid Schemes
      A Really Neat Bridge   But, Mousie, thou art no thy-lane, In proving foresight may be vain; The best-laid schemes o’ mice an’ men Gang aft agley, An’ lea’e us nought but grief an’ pain, For promis’d joy! – Robert Burns, To a Mouse, on Turning Her Up in Her Nest With the Plough (in extract), 1785     Installation of the final cable support pipes on the Gerald Desmond bridge replacement. Here is a drone video of the project. [PT] Photo by...
  • The Dollar Is Dying
      Insulting the Captive Audience This week, while perusing the Federal Reserve’s balance sheet figures, we came across a rather curious note.  We don’t know how long the Fed’s had this note posted to its website.  But we can’t recall ever seeing it.  The note reads as follows:   “The Federal Reserve’s balance sheet has expanded and contracted over time.  During the 2007-08 financial crisis and subsequent recession, total assets increased significantly from $870...

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