Podcast: Episode 1.4

Lemme guess: you voted for statism, didn't you?

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Intro: Nine Inch Nails – “Hyperpower!
Outro: Shelly – “State and Serf

Topics on the show included…


Bob Chapman – “Half a Trillion Bailout For The Creators of the Market Crisis”


Half a Trillion Bailout For The Creators of the Market Crisis

Bob Chapman | September 21, 2008

US Mortgage bailout at half a trillion, Loss of confidence means end of credibility in the markets. Phony wars, phony values in real estate will cost all of you, financial companies bought out, power consolidated in financial markets, Gold on the rise, stock markets as volatile as a drunken sailor, why are the markets rallying after the big bailout.


Agence France-Presse – “Obama, McCain demand more from Wall St rescue deal”


Obama, McCain demand more from Wall St rescue deal

Agence France-Presse | September 20, 2008

The White House rivals Saturday gave qualified welcomes to a huge government bailout of Wall Street, driving home their own ideas to bring relief to both busted financiers and “Main Street.”

After the US government said it wanted a green light from Congress to buy 700 billion dollars in distressed mortgage assets, Barack Obama and John McCain both said they would study the deal and work across the political aisle.

But bitter differences on the road to the November 4 election were also exposed as Obama accused his Republican foe of wanting to “gamble” away Americans’ life savings and deregulate healthcare at a time of market crisis.


Michael S. Rozeff – “The SEC’s Second-Hand Socialism”


The SEC’s Second-Hand Socialism

Michael S. Rozeff | September 20, 2008

Every day brings a new surprise or two from our home-grown financial central planners. Did they study some Soviet theorists? They didn’t have to. They merely had to grow up in the American political, educational, and media system, our democracy being the disguised socialism-communism-fascism-plutocratic-kleptocracy that it is. They merely absorbed their socialism second-hand.

Once in power, which means once placed in the closed circle of power, our commissars act accordingly. People like Paulson and Bernanke and Cox can act in no other way, being the cowards and creatures of the system they are. They cannot withstand the pressures to conform and survive in the circle of power when combined with their own warped understanding.

What is that closed circle? It is the to-and-fro movement of money among: banker-investment banker-central banker-campaign contributor-lobbyist-Congressmen-regulators.


Peter Schiff – “Paulson Commits Trillions of Tax Payer Dollars to the Mother of All Bailouts”


Paulson Commits Trillions of Tax Payer Dollars to the Mother of All Bailouts

Peter Schiff | September 19, 2008

Best Financial Markets Analysis ArticleJust three days ago, after looking at the prospect of bailing a string of distressed financial institution in the country, the government seemingly drew a line in the sand, and refused to bail out Lehman Brothers. The authorities clearly saw Lehman’s demise as a trial balloon to see how the markets would react if the government stayed on the sidelines. That trial balloon quickly turned into the Hindenburg. Immediately reversing course, the Government has decided to go “all in” and bail out every institution with financial exposure to U.S. mortgages.

Simply put, Americans will not be allowed to visibly suffer losses after the greatest asset bubble in U.S. history. But make no mistake, the losses are real and Americans will pay one way or another.


Published in: on September 21, 2008 at 11:20 AM  Leave a Comment  

Kurt Nimmo – “Both Sides of the Banker Party Argue Taxes”


Both Sides of the Banker Party Argue Taxes

Kurt Nimmo | September 20, 2008

Once again, Joe Biden opened his mouth and inserted a foot, this time declaring paying taxes is somehow patriotic. Joe has a caveat, of course — only the “rich” will pay these new taxes. For Joe, the rich make over $250,000.

Joe, let’s talk reality here. $250,000 is not rich. In this day and age, with government and banker imposed inflation, funny money devaluation, and all kinds of taxes already in place, $250,000 is middle class, not rich.

Joe knows this, he also knows this sort of rhetoric will get the ill-educated plebs all worked up, those who make $40,000 or $20,000 per year. Socking it to the “rich” (upper middle class) always works like a charm. Meanwhile, the real rich will avoid taxes, as they always do.


Llewellyn H. Rockwell, Jr. – “Understanding the Crisis”


Understanding the Crisis

Llewellyn H. Rockwell, Jr. | September 20, 2008

What caused this? It is a simple question, and yet answers are all over the map, as you might expect. Here’s mine in two words: fiat money. The word fiat means: out of nothing. Money out of nothing is money that is eventually worth nothing. The possibility of precisely that happening emerged on August 15, 1971. Since Nixon severed the last tie of the dollar to gold, the world’s monetary system has not been restrained by anything physical. We’ve depended on the discretion of central bankers. We can’t trust that, and this crisis shows precisely why.

Of course there are subsidiary factors. The lifting of restrictions on Freddie and Fannie. Subsidized lending. The Fed’s artificially low interest rates. The Community Reinvestment Act. Financial “deregulation.” The war. Bush profligacy. Debt. There is much more besides. But fighting each of these forces individually is like battling down flies at the garbage dump. The core issue is that there is nothing to restrain money creation.


Andy Abraham – “Who Will Bail Out the U.S. Government?”


Who Will Bail Out the U.S. Government?

Andy Abraham | September 18, 2008

In my blog, I thought I was being facetious when I asked the following rhetorical question:

Who will bail out the U.S. Government?

I believe anything can happen, but after digging deeper, I realized there are some serious issues here.

The U.S. government has enormous money problems of its own. The government is much greater in debt than AIG (AIG), Fannie Mae (FNM), and who knows who is else could be next. The national debt currently stands at approximately $9.634 trillion, which is a mind-boggling number! What is also worse this huge number has grown four trillion dollars over the current Bush administration. Now, put into perspective the interest that we, the taxpayers must pay.

How About 230 Billion dollars a year!


Published in: on September 18, 2008 at 10:14 PM  Leave a Comment  

News From the West – “Chart of who ‘owns’ the Federal Reserve”


Chart of who “owns” the Federal Reserve

News From the West | May 16, 2008


[Note from Mike: Find out who owns you and who owns the Federal Reserve!  Click the URL!]

Published in: on September 18, 2008 at 10:12 PM  Leave a Comment  

Douglass K. Daniel – “Biden: Paying higher taxes patriotic for wealthy”


Biden: Paying higher taxes patriotic for wealthy

Douglass K. Daniel | September 18, 2008

Democratic vice presidential candidate Joe Biden said Thursday that paying more in taxes is the patriotic thing to do for wealthier Americans. In a new TV ad that repeats widely debunked claims about the Democratic tax plan, the Republican campaign calls Obama’s tax increases “painful.”

Under the economic plan proposed by Democratic presidential candidate Barack Obama, people earning more than $250,000 a year would pay more in taxes while those earning less – the vast majority of American taxpayers – would receive a tax cut.

Although Republican John McCain claims that Obama would raise taxes, the independent Tax Policy Center and other groups conclude that four out of five U.S. households would receive tax cuts under Obama’s proposals.


Published in: on September 18, 2008 at 10:07 PM  Leave a Comment  

Suzanne Gamboa – “Paul: Reject the major parties, go for a third”


Paul: Reject the major parties, go for a third

Suzanne Gamboa | September 9, 2008

Libertarian-leaning congressman Ron Paul is urging voters to reject John McCain and Barack Obama and support one of the third-party candidates for president.

Paul, a Republican who abandoned his White House bid earlier this year, is gathering some of the candidates, independent Ralph Nader among them, on Wednesday to make his plea.

“The strongest message can be sent by rejecting the two party system,” Paul said in prepared remarks obtained by AP. “This can be accomplished by voting for one of the non-establishment, principled candidates.”


Thomas E. Woods, Jr. – “The Great Gold Robbery of 1933”


The Great Gold Robbery of 1933

Thomas E. Woods, Jr. | August 13, 2008

It’s been 75 years since the federal government, on the spurious grounds of fighting the Great Depression, ordered the confiscation of all monetary gold from Americans, permitting trivial amounts for ornamental or industrial use. This happens to be one of the episodes Kevin Gutzman and I describe in detail in our new book, Who Killed the Constitution? The Fate of American Liberty from World War I to George W. Bush. From the point of view of the typical American classroom, on the other hand, the incident may as well not have occurred.


CNS News – “U.S. Headed Toward Bankruptcy, Says Top Budget Committee Republican”


U.S. Headed Toward Bankruptcy, Says Top Budget Committee Republican

CNS News | August 8, 2008

The ranking Republican on the House Budget Committee said the U.S. government is headed toward bankruptcy if it stays on its current fiscal course.

“We know that for a fact,” Rep. Paul Ryan (R-Wis.) told CNSNews.com in a video interview. “All the actuaries, all the objective scorekeepers of the federal government, are predicting this.”

To back up this claim, Ryan cited an estimate by the non-partisan Government Accountability Office that says the government faces a $53-trillion shortfall to cover the costs of promised benefits in its entitlement programs.


Published in: on August 9, 2008 at 12:37 PM  Leave a Comment  

Ron Paul – “The Dangers of Neo-Conservative Economic Policies”


The Dangers of Neo-Conservative Economic Policies

Ron Paul | July 30, 2008

The dangers inherent in the foreign policy advocated by the neo-conservatives are well known. While many Americans have become increasingly aware of those dangers, far less attention has been focused on the dangers of neo-conservative economic policies. This issue is of critical importance right now, because many are mistakenly pointing their fingers at the free market as the culprit behind our current economic plight.

There are only a few in elected office who have any real loyalty to free markets and limited government. The agenda of neo-conservatives in the economy calls for a very active central government. Indeed, while there are some neo-conservatives who continue to use the rhetoric of limited government, and who oppose increases in the federal income tax as a way to maintain the political benefits that apply to those who talk about free markets, it is now the neo-conservatives who promote fiat monetary policies even more than those on the liberal left.


Michael S. Rozeff – “What Our Officials Most Fear”


What Our Officials Most Fear

Michael S. Rozeff | July 29, 2008

What do our officials most fear? They fear the public’s loss of confidence. Events are driving their improvised attempts to stem a general loss of confidence in the dollar, in them, the financial and monetary system, and the government as a whole.

It is not clear that they recognize that this is their greatest fear. But even if they do recognize that this is their greatest fear, they have no clear roadmap for dealing with it.