The "gold bubble," that is. I mention this because gold ran up almost $60 in the past two days. It's back to $1720.
Talking heads on CNBC and elsewhere told us that gold, and commodities in general, were in a bubble all summer. Then, when oil took a hit and gold dropped in value at the end of August and the beginning of September, they patted themselves on the back. They kept asking - is this the end of the gold bubble - believing that it was in a bubble.
Of course they ignore the fact that almost every instance during which we saw a significant pull back in gold this summer was preceded by an increase in margin requirements on gold contracts by the CME.
More importantly, they ignored the fact that the Fed essentially announced a toned down QE3. The Fed is continuing to provide "stimulus" just by maintaining the extraordinary size of it's balance sheet at $2.89 TRILLION (between 3 and 4 times larger than it was for several years, before the financial crisis). In addition, the Fed will need to buy additional treasury securities over the next two years in order to keep rates low until at least mid-2013. Just because Bernanke didn't call it QE3 doesn't mean that it's not.
And of course most importantly, they ignore the massive debt accumulated by governments, consumers, and students. Either central banks around the world are going to try to inflate the real value of this debt away, or governments are just going to either buy the debt or cancel it. Either way, the market will not like debt-backed, paper assets and it will continue to turn to real assets, which will continue driving the prices of gold and silver upward.
Wednesday, October 26, 2011
Tuesday, October 25, 2011
Top 10 Led Zeppelin songs
I wanted to take a quick break from my rantings against statism. I made a top 10 Beatles songs list a couple years ago (before I started this blog). Now, here goes for Zeppelin:
1. When the Levee Breaks
2. Hey Hey What Can I do
3. Traveling Riverside Blues
4. Over the Hills and Far Away
5. Fool in the Rain
6. The Ocean
7. All My Love
8. Going to California
9. The Battle of Evermore
10. Gallows Pole
Please note that although I didn't include a single song from Led Zeppelin II, I think it is possibly their best album.
1. When the Levee Breaks
2. Hey Hey What Can I do
3. Traveling Riverside Blues
4. Over the Hills and Far Away
5. Fool in the Rain
6. The Ocean
7. All My Love
8. Going to California
9. The Battle of Evermore
10. Gallows Pole
Please note that although I didn't include a single song from Led Zeppelin II, I think it is possibly their best album.
Saturday, October 22, 2011
low posting for a while
I haven't made really and blog posts in a while. I made my move to Florida and am somewhat settled in now.
I will try to put together a few well assembled thoughts every week for my sanity and your entertainment.
I will try to put together a few well assembled thoughts every week for my sanity and your entertainment.
Tuesday, October 18, 2011
My presentation at TEDxLAF
The presentation I gave in March about self-ownership, free trade, and peace can be found here . It already has 60 something views.
After watching it for the first time myself just a couple of weeks ago, I say it turned out better than I had originally thought.
After watching it for the first time myself just a couple of weeks ago, I say it turned out better than I had originally thought.
Friday, October 7, 2011
Democrats, independents, and others
If you want a president who will promote peace instead of war, vote for Ron Paul in the Republican primary.
In some states you need to be affiliated with the Republican party on your voter registration to vote in the primary (closed primary). In other states, as long as you are registered to vote, regardless of what party affiliation you have, you may vote in party primaries (open primary). And in New Jersey (and potentially elsewhere) if your voter registration is unaffiliated, you may go to the polls on primary day and declare a party affiliation and vote in that primary. You may then un-affiliate your registration after the election if you so choose.
Don't feel like you don't want to register Republican or vote in the Republican primary because you are not a Republican. And don't feel like it's "wrong" to vote in the primary because it is unfair to the Republican party if you vote as an outsider. In most (or all) states, primary elections are funded by tax payers. As immoral as it is to use tax payer money to fund elections for parties to decide who their best candidate is, this is the system that exists. As long as your tax dollars are going toward a terrible system, and you believe in voting, then don't hesitate to vote in what ever primary and for which ever candidate you believe will have the greatest positive effect.
(Of course some don't vote at all because they believe it gives consent to the system - Fair enough argument, but not one that I currently take.)
As far as I'm concerned, all tax payer funded primary elections should be open primaries.
In some states you need to be affiliated with the Republican party on your voter registration to vote in the primary (closed primary). In other states, as long as you are registered to vote, regardless of what party affiliation you have, you may vote in party primaries (open primary). And in New Jersey (and potentially elsewhere) if your voter registration is unaffiliated, you may go to the polls on primary day and declare a party affiliation and vote in that primary. You may then un-affiliate your registration after the election if you so choose.
Don't feel like you don't want to register Republican or vote in the Republican primary because you are not a Republican. And don't feel like it's "wrong" to vote in the primary because it is unfair to the Republican party if you vote as an outsider. In most (or all) states, primary elections are funded by tax payers. As immoral as it is to use tax payer money to fund elections for parties to decide who their best candidate is, this is the system that exists. As long as your tax dollars are going toward a terrible system, and you believe in voting, then don't hesitate to vote in what ever primary and for which ever candidate you believe will have the greatest positive effect.
(Of course some don't vote at all because they believe it gives consent to the system - Fair enough argument, but not one that I currently take.)
As far as I'm concerned, all tax payer funded primary elections should be open primaries.
Thursday, October 6, 2011
CPAC 2012 promotional video leaves out
Ron Paul.
Even though Ron Paul won the CPAC straw poll two years in a row, and is a solid third in the polls (and soon to be 2nd after the Perry excitement wears off) he not shown in this promotional video for CPAC 2012. It shows Perry, Cain, Bachmann, Gingrich, Romney, and even Alan West and Marco Rubio. The peace candidate will never be welcome amongst crazed neoconservatives.
The video can be viewed here .
According to a post at the Daily Paul, the comments were disabled after too many people were pointing out the blatant ignoring of Paul.
Even though Ron Paul won the CPAC straw poll two years in a row, and is a solid third in the polls (and soon to be 2nd after the Perry excitement wears off) he not shown in this promotional video for CPAC 2012. It shows Perry, Cain, Bachmann, Gingrich, Romney, and even Alan West and Marco Rubio. The peace candidate will never be welcome amongst crazed neoconservatives.
The video can be viewed here .
According to a post at the Daily Paul, the comments were disabled after too many people were pointing out the blatant ignoring of Paul.
Thirst for liberty over statism
Preliminary reports show that Congressman Ron Paul raised $8 million for his presidential campaign in the 3rd quarter (July, August, September) from 100,000 unique donors! ~ apppx $80 per donor.
Governor Rick Perry, on the other hand, raised $17 million, but from only 22,000 unique donors. ~ appx. $770 per donor!
Perry's active supporters clearly have deeper pockets. But Paul's supporters aren't defecting to other camps because of Paul's consistent message of liberty and peace.
And we can expect a huge number in the fourth quarter with a November 11 Veterans Day money bomb and a December 16 Boston Tea Party money bomb. On Dec. 16, 2007, Paul supporters organized what turned out to be a $6.2 million dollar day; that remains the record for most amount of money raised in one day by a presidential candidate.
Governor Rick Perry, on the other hand, raised $17 million, but from only 22,000 unique donors. ~ appx. $770 per donor!
Perry's active supporters clearly have deeper pockets. But Paul's supporters aren't defecting to other camps because of Paul's consistent message of liberty and peace.
And we can expect a huge number in the fourth quarter with a November 11 Veterans Day money bomb and a December 16 Boston Tea Party money bomb. On Dec. 16, 2007, Paul supporters organized what turned out to be a $6.2 million dollar day; that remains the record for most amount of money raised in one day by a presidential candidate.
Wednesday, October 5, 2011
Steve Jobs's life
Steve Jobs founded what is now one of the most valuable companies in America.
His technical skill, and more importantly, his business and management skills created wealth for the world and increased our standard of living. And he did this through peaceful and voluntary contracting with his workers, vendors, and customers.
I don't know to what extent, if at all, he or Apple has lobbied the government for special privileges or for competition-killing business regulations. What I do know is I am typing this blog entry on my MacBook Pro and I listen to my iPod every night. The company he created and risked his own livelihood for has made me better off.
Thank you, Steve Jobs, for
btw - "Pirates of Silicon Valley" is an entertaining dramatized "documentary" about Steve Jobs, Steve Wozniak, Bill Gates, Paul Allen, and the founding of Apple and Microsoft. I recommend it.
His technical skill, and more importantly, his business and management skills created wealth for the world and increased our standard of living. And he did this through peaceful and voluntary contracting with his workers, vendors, and customers.
I don't know to what extent, if at all, he or Apple has lobbied the government for special privileges or for competition-killing business regulations. What I do know is I am typing this blog entry on my MacBook Pro and I listen to my iPod every night. The company he created and risked his own livelihood for has made me better off.
Thank you, Steve Jobs, for
btw - "Pirates of Silicon Valley" is an entertaining dramatized "documentary" about Steve Jobs, Steve Wozniak, Bill Gates, Paul Allen, and the founding of Apple and Microsoft. I recommend it.
Sunday, October 2, 2011
Anwar Al-Awlaki assassination, brief comments
The other day, the United States government assassinated Anwar Al-Awlaki. Al-Awlaki was an American citizen, and he left the United States a little under 10 years ago and allegedly associated with terrorists and became an Al-Qaeda leader. He is accused of having planned the Fort Hood shooting and the failed underwear bomber.
In the United States Code (statutory law), terrorism is defined as a crime . Also, from what I understand, terrorism is defined as a crime by several international treaties to which the United States government is a signatory. The fifth amendment to the United States Constitution says:
"No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb, nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use without just compensation."
Those responsible for the assassination (presumably President Obama and a chain of command below him) have committed impeachable offenses by violating their oath of office to uphold and defend the Constitution. Here are ways that they violated the Constitution:
1. Al-Awlaki answered for a capital crime (terrorism, attempted murder?). Yet he had not been indicted by any grand jury on a crime. Even before going to trial, all accused criminals must be indicted by a grand jury.
2. He was deprived of life without an indictment and without a conviction in a criminal court. The rule of law was not followed. The United States government went above the law to kill Al-Awlaki. The administration claims that they followed many procedures and checks when they placed Al-Awlaki on the CIA hit list back a few months ago. But following procedures outlined by either executive order or by unconstitutional legislation does not excuse, legitimize, or legalize violating the plain language of the 5th Amendment, which was never itself amended or repealed.
This article from Fox News is actually quite reasonable - it is reporting some of the dissent against the Obama administration in regards to the assassination. Here are quotes from Ron Paul and Dennis Kucinich used in the article:
"'Mr. al-Awlaki's allegedly violent rejection of America was not acceptable in any way,' Kucinich said. 'Neither is it acceptable to trample the Constitution through extrajudicial killings.'"
"'No one likes these kind of people, but I also like the rule of law and I like our Constitution, that you don't just target people, assassinate them, someone who has not been charged and you have no proof of anything,' Paul told Fox News."
In the United States Code (statutory law), terrorism is defined as a crime . Also, from what I understand, terrorism is defined as a crime by several international treaties to which the United States government is a signatory. The fifth amendment to the United States Constitution says:
"No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb, nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use without just compensation."
Those responsible for the assassination (presumably President Obama and a chain of command below him) have committed impeachable offenses by violating their oath of office to uphold and defend the Constitution. Here are ways that they violated the Constitution:
1. Al-Awlaki answered for a capital crime (terrorism, attempted murder?). Yet he had not been indicted by any grand jury on a crime. Even before going to trial, all accused criminals must be indicted by a grand jury.
2. He was deprived of life without an indictment and without a conviction in a criminal court. The rule of law was not followed. The United States government went above the law to kill Al-Awlaki. The administration claims that they followed many procedures and checks when they placed Al-Awlaki on the CIA hit list back a few months ago. But following procedures outlined by either executive order or by unconstitutional legislation does not excuse, legitimize, or legalize violating the plain language of the 5th Amendment, which was never itself amended or repealed.
This article from Fox News is actually quite reasonable - it is reporting some of the dissent against the Obama administration in regards to the assassination. Here are quotes from Ron Paul and Dennis Kucinich used in the article:
"'Mr. al-Awlaki's allegedly violent rejection of America was not acceptable in any way,' Kucinich said. 'Neither is it acceptable to trample the Constitution through extrajudicial killings.'"
"'No one likes these kind of people, but I also like the rule of law and I like our Constitution, that you don't just target people, assassinate them, someone who has not been charged and you have no proof of anything,' Paul told Fox News."
Subscribe to:
Posts (Atom)