Lost Republic
"The notion that production and economic activity are harmful to the environment rests on the abandonment of man and his life as the source of value in the world."
~ George Reisman

Archive for November, 2008

The Maestro vs. the Market

Posted in Money/Economy/Taxes on November 14th, 2008

Alan Greenspan claims that the free market failed to prevent the financial crisis and that he is “shocked” that his professed “free-market ideology” turned out to contain a “flaw.”

But why should we take him seriously? Greenspan, while once associated with laissez-faire philosopher Ayn Rand, hasn’t advocated genuinely free markets for decades. Remember, this is a man who for two decades reveled in being, as The New York Times put it, “the infallible maestro of the financial system.”

Free markets don’t have “infallible maestros.” They liberate us from such “maestros” — the central planners who have time and again falsely claimed the ability and the right to orchestrate millions of economic lives. . . .

Observe Greenspan’s 1966 analysis of the boom preceding the 1929 crash: “The excess credit which the Fed pumped into the economy spilled over into the stock market — triggering a fantastic speculative boom.”

Sound familiar?

What would that Greenspan identify as the cause of the speculative housing boom at the center of today’s crisis, the market or the maestro?

Greenspan is entitled to change his mind, of course. But it is intellectually dishonest to pretend that the market he manipulated for 20 years was genuinely free. And those questioning Greenspan’s actions as Fed chief should not be asking him what he didn’t do to prevent the financial crisis; they should be asking what he did do to cause the crisis by using his enormous power to reward irrational behavior. (Read more from pittsburghlive.com)

It is very important we win this debate. The crisis has NOT been cause by free markets. It was caused by government interference.

The Last Act of Any Government is to Loot the Treasury

Posted in Money/Economy/Taxes on November 13th, 2008

The Wall Street Journal reports, as was rumored on Friday, that AIG appears on the verge of approving a considerably enlarged and sweetened rescue package from the government.

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For all the fury over Treasury Secretary Henry Paulson’s $700 billion emergency economic relief fund, it seems downright puny when compared to the running total of the government’s response to the credit crisis. According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 trillion, so far, in an attempt to arrest a collapse of the financial system.
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Lobbyists Swarm the Treasury for Piece of Bailout Pie

Headlines from the Occupation

Posted in Israel/Palestine, United Nations on November 13th, 2008

-Blackouts in Gaza after Israel stops fuel
-Israel breaks Gaza ceasefire, assassinates six
-Ancient Muslim cemetery in Jerusalem will be destroyed to build “Museum of Tolerance”
-Settlers preparing for war, says Shin Bet chief “The scope of the conflict will be much larger than it is today and than it was during the disengagement,” Diskin warned. “Our investigation found a very high willingness among this public to use violence – not just stones, but live weapons – in order to prevent or halt a diplomatic process.” While Diskin did not comment explicitly on the danger of another political assassination, the timing of his warning – just days before the anniversary of prime minister Yitzhak Rabin’s assassination – was not lost on cabinet members.
-Shin Bet Chief warns of political assassination
-UN to suspend food distribution in Gaza The United Nations will suspend its food distribution to half of Gaza’s 1.5 million people on Thursday after Israel failed to allow emergency supplies into the Palestinian territory, a spokesman said. Israel initially said it would allow 30 trucks to deliver supplies to Gaza on Thursday after it sealed off the Gaza Strip on November 5, but later said mortar fire by Gaza militants made it impossible to do so.
-EU lawmakers: Israel should be punished over Gaza A group of European lawmakers said Tuesday they will petition the European Union to suspend a preferential trade agreement with Israel because of what they described as its “cruel” blockade of Gaza.
-Britain to crack down on exports from Israeli settlements The initiative is the strongest sign yet of deepening official frustration in Whitehall at Israel’s persistent flouting of international exhortations to halt the construction of settlements – which are seen by Britain and most other countries as illegal. Moderate Palestinian leaders say continued settlement building is a major problem.

Evidence of Prior knowledge of 9/11 attacks

Posted in 9/11, FBI on November 11th, 2008

Article on foreignpolicyjournal.com

Executives warned:
“According to an inside source, one of the senior executives of the corporation told him beforehand that “something big” was going to occur and so other corporate executives would be travelling out of New York.”

Put options on airline stocks:
“For instance, purchases were made on 4,744 put options for United Airlines between September 6 and 7. On September 10, purchases were placed on 4,516 put options for American Airlines. United and American were the two airlines that had planes hijacked and destroyed in the attacks. There was no similarly unusual trading in other airlines. Other companies directly affected also experienced a spike in the purchase of put options, such as Morgan Stanley Dean Witter and Merril Lynch, both of which had offices in the World Trade Center. Numerous countries around the world, including the U.S., Japan, Germany, the U.K., France, Luxembourg, Hong Kong, Switzerland, and Spain, opened investigations into what had apparently been insider trading based on foreknowledge of the attacks. . . . According to the 9/11 Commission Report, which echoed the conclusion of the FBI, 95 percent of the purchases on United and American Airlines shares on September 6 and 10, respectively, were made by a single U.S. based institutional investor.”

The Israeli Spy Ring:
“[Author Robert Baer] was referring to the case of the five Israelis who were witnessed on 9/11 celebrating beside their white van at the sight of the smoking towers from a parking lot in New Jersey. They were later arrested and detained. Upon arrest, the driver of the van told the arresting officers, “We are Israeli. We are not your problem. Your problems are our problems. The Palestinians are the problem.” The van was registered to an Israeli-owned company called Urban Moving Systems, whose owner immediately closed shop and fled to Israel. At least two of the five Israelis witnessed videotaping and celebrating the attacks were learned to be operatives of Mossad, the Israeli intelligence agency. In other reporting that may or may not have been related to the five Israelis with the white van, it became known publicly that an enormous Israeli spy ring had been uncovered operating within the United States. Reports of investigations into Israeli spying within the U.S. had emerged early in 2001. After 9/11, Fox News reported that according to investigators the Israeli intelligence operatives of a large spy ring may have gathered information in advance about the attacks of 9/11, but that the evidence for this was classified. As part of the operation, Israelis posed as art students. Under the guise of selling art, they targeted government officials at their offices or homes, including members of the military, the DEA, the FBI, and other law enforcement and intelligence personnel. One group of the Israeli “art students” lived at 4220 Sheridan St. in Hollywood, Florida, just down the street from the 3389 address where Mohammed Atta and three of the other 9/11 hijackers lived.”

Odigo Text messages:
“The Israeli paper Haaretz reported that workers at Odigo, which had offices near the World Trade Center, had received warnings on the morning of September 11 of an impending attack. The Washington Post confirmed that two employees of Odigo had “received text messages warning of an attack on the World Trade Center two hours before terrorists crashed planes into the New York landmarks.””

Suspicious money transfer:
“There have also been several other incidents possibly related to the apparent insider trading before 9/11. In one case, a German firm, Convar, was hired to attempt to retrieve data from the hard drives of computers destroyed as a result of the attacks on the World Trade Center. In doing so, it was discovered that there had been transactions of unusually large sums of money through some systems in the WTC, leading to the suspicion that someone with insider knowledge had illegally transferred as much as $100 million through the system as the attacks unfolded.”

Pakistani ISI connection:
“The compelling evidence of insider foreknowledge of the 9/11 attacks has been largely dismissed. This is perhaps most evident by the conclusions of the 9/11 Commission report itself, which also stated that there was no evidence of any involvement by any foreign government or government official and that the question of who financed the attacks is “of little practical significance”, despite reports that Mahmud Ahmed, the head of Pakistan’s Inter-Service Intelligence agency, or ISI, had been responsible for authorizing the transfer of $100,000 to hijacker Mohammed Atta. This information was received by the Commission.”

Strange bedfellows:
“Bob Graham, who co-chaired the 9/11 Joint Inquiry with Porter Goss, has also said there is evidence of the involvement of a foreign government. The 9/11 Commission made no attempt to explain or reconcile the disparity between its conclusions and those of Graham or the reports of the ISI chief’s involvement. In another strange twist, Graham and Goss were having breakfast in Washington with General Ahmed on the morning of September 11 as the planes struck the towers. Ahmed was in Washington visiting his counterpart at the CIA, George Tenet, as well as a number of other high-level officials. Both Graham and Goss had also travelled to Pakistan where they met with the ISI chief just a couple weeks before Ahmed’s reciprocal visit. Goss was later appointed Director of Central Intelligence.”

A Figherfighter’s Extensive account of 9/11

Posted in 9/11 on November 11th, 2008

Interview with John Schroeder

The Economy & NPR’s Shameful Coverage (those fucking bastards)

Posted in Big Media, Money/Economy/Taxes on November 10th, 2008

I’ve had it. God Damn, Mother fucking NPR. Backstabbing, propagandist mother fuckers……

So there I was – driving from NYC to Iowa. (I’m blogging from a hotel in Ohio right now.) I tune to NPR. Those fucking, fucking, fucking, propagandist bastards. Traitors. How the fuck do you call Bernanke a free-marketer??????? Bernanke’s job has been to SET THE INTEREST RATE AT WHICH BANKS BORROW. His job is to say, ‘let’s create an economic bubble and set a low interest rate,’ or ‘lets flood the economy with cash,’ or ‘lets slow the economy by tighten up the money supply.’ This is the OPPOSITE of a free market.

Typical of Big Media coverage, they focus on one tree in the forest and use it to say Bernanke is a free-marketer – he didn’t regulate derivative markets and people acted irresponsibly. This is such BULLSHIT!!!! It makes me furious because it’s so deceptive – there’s just a hint of truth in it – enough to make my liberal friends believe and obey. They’ll drop their pants and open their wallets and say: “Please save us, dear Government. Government, only you can help. Save us from these evil capitalists. More government. More!!! More!!! Take my money and save me! Please, Government. We’ll do anything you ask!!!”

The hint of truth is that banks and traders indeed behaved irresponsibly. So What? That doesn’t make Bernanke a free-marketer for not reeling them in.

If we had free markets, interest rates would be set by banks negotiating with each other over how risky the loans are.
If we had free markets, there wouldn’t be a FED.
If we had free markets, Bernanke would be out of a job.
If we had free markets, government wouldn’t have warped investment in favor of super-risky housing loans.
If we had free markets, we wouldn’t have been riding the bubble of a bullshit economy for the past few decades.
If we had free markets, the bubble wouldn’t be popping – it would never have existed.
If we had free markets, all those incompetent (by some measures, corrupt) bankers whom Bernanke failed to reel in would have put their banks out of business several times over.
If we had free markets, we wouldn’t have bailed out the incompetent banks with the competent people’s money.
If we had free markets, the incompetent banks would be bought up by the competent ones for whatever the competent ones negotiated.
If we had free markets, government wouldn’t overpay for worthless bank assets with OUR MONEY.
If we had free markets, we might even have competing currencies, so we sound money believers could do our own thing as the government destroys our dollar in pursuit of global hegemony.

This crisis was caused BY GOVERNMENT. Now they’re blaming free markets and proposing MORE GOVERNMENT as a solution. The fucking nerve of these people. They cited today’s (November 10th’s) market fluctuations as evidence that free markets don’t work. WTF!??!?!? Not only did we just take $700 billion dollars away from the competent people, and give it to the incompetent, but the fuckers at NPR go on to blame the ensuing confusion and fluctuation on free markets!!! HA! You can’t make this stuff up.

They had a discussion as if the failure of free market economics was a given – the axiom from which all thesis must now derive. They said Milton Friedman has been refuted and economists are now “working behind closed doors,” to come up with more accurate theories.

The evidence??? Some dickhead talked about how markets behave “irrationally,” like when there’s a car accident on one side of the road, and traffic in both directions slows down. First of all, both directions of traffic slowing down for an accident is completely rational. Human curiosity? People wanting to understand the dangers of the world? Second of all, what the fuck does this example have to do with anything?????!!!!!

At that point my soul was in such agony, I had to switch off the radio. Those God damn, bastards.

This isn’t news. It’s psychological operations targeting the American people.

Scientists Slam FBI Anthrax Probe

Posted in FBI, Hidden History on November 7th, 2008

“It was an open-and-shut case, the FBI said.

But three months after agents pinned the post-9/11 anthrax mailings on Army scientist Bruce Ivins – who committed suicide as the FBI closed in on him – his former colleagues have approached a lawyer to sue the feds for fingering the wrong man, The Post has learned.

They argue that the FBI abused its power and violated its own policies as they probed an innocent man for six months.

One of Ivins’ former colleagues was being aggressively pressured to confess to the crimes just two months before Ivins killed himself on July 29, he told The Post. And he identified at least one other employee who was under the same pressure.” (Read more from military.com)

Just like so many other great crimes (9/11) which once held the public attention, the official account of the Anthrax attacks has never made sense to the few people who pay attention. Fortunately for the FBI, Big Media does not.

Obama’s Win Spurs Gun Sales

Posted in Gun Ownership on November 7th, 2008

Obama’s Anti-Gun Agenda Spurs Record Firearms Sales
Media skews record gun purchases as nutjob paranoia, yet Obama’s virulent hostility towards the Constitutional right to keep and bear arms is on the record. (Read more from Prison Planet)

Fears of a Dem crackdown lead to boom in gun sales
(Read more from azcentral.com)

Obama’s first pick: Rahm Emanual

Posted in Israel Lobby on November 7th, 2008

Yes, it’s Change, as The One chooses his one, Congressman Rahm Emanuel (D-IL), to be his H.R. Haldeman. Emanuel is known for being smart and intense, mailing dead fish to people he hates, and freaking out at subordinates. Loving revenge, never forgiving a slight, and brooking no dissent, he’s famous as an enforcer. Such figures are valued in the state (and the Mafia), if not in private society. Emanuel, with Pelosi’s blessing, famously blocked antiwar Democrats from running for the House in 2006 (he controlled the money for new candidates). Emanuel is an advocate of endless war in the Middle East. No chickenhawk, during the Gulf War, he volunteered as a civilian worker for the Israeli army. His father Benjamin, a physician, was a guerilla fighter for the Irgun against the British occupation of Palestine. The Irgun, a secret insurgent group, is described by unfriendlies as a terrorist organization for such acts as bombing the King David Hotel and ethnically cleansing with extreme prejudice Arab villages. Rahm’s mother, Martha, was a civil-rights activist and rock ‘n roll nightclub owner in Chicago. (from lewrockwell.com: Rahm Rahm Rahm, Rahm Rahm Iran)

See Also:
-Video: Rahm and the wars Rahm helped ensure pro War Democrats running for Congress got better funding than anti-war ones. Fucking asshole.
-ABCNews: Emanuel Was Director Of Freddie Mac During Scandal
-examiner.com: Obama’s chief of staff choice favors compulsory universal service “It’s time for a real Patriot Act that brings out the patriot in all of us. We propose universal civilian service for every young American. Under this plan, All Americans between the ages of eighteen and twenty-five will be asked to serve their country by going through three months of basic training, civil defense preparation and community service. …”

Southern Avenger: Thank God McCain Lost

Posted in Election / Politicians on November 5th, 2008

Hands down, the best election commentary I’ve heard:

Obama Advocating Police State?

Posted in Dictatorship, Election / Politicians on November 5th, 2008

Dedicated to all my jubilant liberal friends. Can I get a big ‘Hurray’ for the trillion-dollar police force? They’ll be just as powerful as the Army, and they’ll be coming to a neighborhood near you . . . to protect you.

Oklahoma to feds: Don’t tread on me

Posted in Constitution, Secession on November 1st, 2008

“Steamed over a perceived increase in federal usurping of states’ rights, Oklahoma’s House of Representatives told Washington, D.C., to back off.

Joint House Resolution 1089, passed by an overwhelming 92-3 margin, reasserts Oklahoma’s sovereignty under the Tenth Amendment to the U.S. Constitution, and, according to the resolution’s own language, is ‘serving notice to the federal government to cease and desist certain mandates.’

The Tenth Amendment states, ‘The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.’” (Read more from worldnetdaily.com)

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