You are browsing the archive for 2014 May 23.

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Speaking Truth to Monetary Power

May 23, 2014 in Economics

By Ryan McMaken

6760

Lew Rockwell writes in today’s Mises Daily:

We do not need “monetary policy” any more than we need a paintbrush policy, a baseball bat policy, or an automobile policy. We do not need a monopoly institution to create money for us. Money, like any good, is better produced on the market within the nexus of economic calculation. Money creation by government or its privileged central bank yields us business cycles, monetary debasement, and an increase in the power of government. It is desirable from neither an economic nor a libertarian standpoint. If we are going to utter monetary truths, this one is the most central and subversive of all.

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Source: MISES INSTITUTE

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Sen. Rand Paul Joins Eric Bolling on Hannity- May 22, 2014

May 23, 2014 in Politics & Elections

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Source: RAND PAUL

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Sen. Paul Statement on Approval of Hemp Seeds Release in Kentucky

May 23, 2014 in Politics & Elections

WASHINGTON, D.C. – Sen. Rand Paul today issued the following statement following the Drug Enforcement Administration’s (DEA) approval of the release of hemp seeds pursuant to a provision in the Farm Bill that allowed a pilot program for universities and other entities in the Commonwealth to grow industrial hemp:’I am glad the needless delay appears to be over and the program we have worked on for more than a year is about to become a reality. I have been working with Attorney General Holder on Kentucky’s program for months, and I am pleased that his department has helped us move the program forward as Congress intended.’
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Source: RAND PAUL

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Opportunity for U.S. to Extricate Itself from Korea

May 23, 2014 in Economics

By Doug Bandow

Doug Bandow

It doesn’t pay to be number two in North Korea. In December the young dictator Kim Jong Un executed his uncle, Jang Song Taek, supposedly Kim’s top adviser. Now Vice Marshal Choe Ryong Hae, who climbed atop Jang’s corpse, has been relieved of his important positions.

Choe’s fall is particularly important because, though he was an aide to Kim’s father, Kim Jong Il, he rose rapidly under the younger Kim. Dumping Choe reshapes the political environment of Kim’s making.

Going home should be the foundation of U.S. policy toward the Koreas.”

While Kim’s dominance in Pyongyang does not guarantee the regime’s survival, it dampens hope for any change outside of Kim. Today’s Korean Winter isn’t likely to give way to a Korean Spring. Moreover, nothing suggests that the North’s communist monarchy is about to give way. Indeed, the elite, at least, are doing better than in years past.

People in the countryside still suffer, but they a revolution aren’t likely to make. Many observers have waited a long time for regime collapse in the North. They probably will have to wait a lot longer.

In fact, given North Korea’s history and Kim’s age, he could rule for another 30 or 40 years. And so far he doesn’t appear to be much interested in reform.

If anything, he appears to be more committed to his government’s nuclear weapons program and confrontational foreign policy than were his predecessors.

North Korea’s policy toward the South has oscillated wildly, but has headed mostly downward. It recently conducted a live fire drill near the disputed Yellow Sea border where it launched a deadly bombardment of a South Korean island back in 2010.

The North also appears to be preparing a fourth and “new form” of nuclear test. North Korea recently test-fired two medium-range missiles, predicting “next-stage steps, which the enemy can hardly imagine.”

The Obama administration obviously is frustrated, and reportedly is considering easing its preconditions for resuming the long-stalled six party talks. However, it’s unlikely that many policymakers believe renewed negotiations will lead anywhere. Which has left the major U.S. response to tie itself closer to its South Korean ally, loudly reaffirming that America will defend it if necessary.

Washington needs to reflect first on why the North is such a problem for America. A small, impoverished, and distant state, even with a handful of nuclear weapons (but no delivery capacity), obviously is no match for the …read more

Source: OP-EDS

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Was the Fed a Good Idea?

May 23, 2014 in Economics

The Federal Reserve System today is very different than a century ago when it was created. So how well has the Fed performed? Was the Fed a good idea? Can we do better? To address those and related questions, the Cato Institute brought together some of the most respected monetary scholars and policymakers at its Annual Monetary Conference in November 2013. The papers from that conference are featured in the latest volume of Cato Journal.

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Source: CATO HEADLINES

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Sky Sailing [poem]

May 23, 2014 in Blogs

By Political Zach Foster



Smooth sailing on days like this one
When the rains beckon me

To climb


I climb aboard and climb so high as

Swift high winds kiss my neck

And cheek

I ride this gallant mare through the sun,

Silver cloud gliding o’er

Sand dunes

The burning wasteland far below me,

Such a golden city,

Hidden

Away from the world, from prying eyes

By they who built it long

Ago

I descend from my silver steed to

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Source: ZACH FOSTER RANTS