Iceland's government is considering a revolutionary monetary proposal – removing the power of commercial banks to create money and handing it to the central bank. The proposal, which would be a turnaround in the history of modern finance, was part of a report written by a lawmaker from the ruling centrist Progress Party, Frosti Sigurjonsson, entitled "A better monetary system for Ic...Read More
Israel spied on Iran's nuclear talks with the United States — and used the information to undermine the Obama administration's position with the GOP-led Congress, according to an explosive report in The Wall Street Journal… A senior official in [Israeli Prime Minister Benjamin] Netanyahu's office fired back, calling the allegations "utterly false" in an interview...Read More
Israel spied on Iran's nuclear talks with the United States — and used the information to undermine the Obama administration's position with the GOP-led Congress, according to an explosive report in The Wall Street Journal… A senior official in [Israeli Prime Minister Benjamin] Netanyahu's office fired back, calling the allegations "utterly false" in an interview...Read More
[U]nder the United States' UCC code (uniform commercial code) as long as bitcoins are treated as general intangibles, no high value investor can be sure that an angry Tony Soprano won't show up one day to claim that the bitcoins they thought they received in a completely unencumbered manner are actually his. – FT Alphaville Bitcoin, the cryptocurrency allegedly invented by one "...Read More
[U]nder the United States' UCC code (uniform commercial code) as long as bitcoins are treated as general intangibles, no high value investor can be sure that an angry Tony Soprano won't show up one day to claim that the bitcoins they thought they received in a completely unencumbered manner are actually his. – FT Alphaville Bitcoin, the cryptocurrency allegedly invented by one "...Read More
The political push for labeling genetically engineered foods is spreading across the country. Groups in more than 20 states are pushing local initiatives. Now Congress could step in, and scuttle all of them. A bipartisan bill to be introduced today by Rep. Mike Pompeo (R-Kan.) and Rep G.K. Butterfield (D-N.C.) would bar states from requiring the labeling of foods derived from genetically modified...Read More
The political push for labeling genetically engineered foods is spreading across the country. Groups in more than 20 states are pushing local initiatives. Now Congress could step in, and scuttle all of them. A bipartisan bill to be introduced today by Rep. Mike Pompeo (R-Kan.) and Rep G.K. Butterfield (D-N.C.) would bar states from requiring the labeling of foods derived from genetically modified...Read More
House Members Target Patriot Act with "Surveillance State Repeal Act" … U.S. Representatives Mark Pocan (D-Wis., photo on left) and Thomas Massie (R-Ky.), who are seeking to repeal the PATRIOT Act in its entirety and combat any legal provisions that amount to American spying, unveiled their Surveillance State Repeal Act on Tuesday. – New AmericanDominant Social Theme: We need...Read More
Study Finds No Link Between Military Suicide Rate and Deployments … In 2013, a former combat videographer, Kathryn Robinson, described trying to get her life back on track after her return from Iraq left her with P.T.S.D. and thoughts of suicide. – New York TimesDominant Social Theme: Military service doesn't cause depression. Well … it's complicated.Free-Market Analysis:...Read More
House Members Target Patriot Act with "Surveillance State Repeal Act" … U.S. Representatives Mark Pocan (D-Wis., photo on left) and Thomas Massie (R-Ky.), who are seeking to repeal the PATRIOT Act in its entirety and combat any legal provisions that amount to American spying, unveiled their Surveillance State Repeal Act on Tuesday. – New AmericanDominant Social Theme: We need...Read More
Study Finds No Link Between Military Suicide Rate and Deployments … In 2013, a former combat videographer, Kathryn Robinson, described trying to get her life back on track after her return from Iraq left her with P.T.S.D. and thoughts of suicide. – New York TimesDominant Social Theme: Military service doesn't cause depression. Well … it's complicated.Free-Market Analysis:...Read More
Why are interest rates so low? … The Fed's ability to affect real rates of return, especially longer-term real rates, is transitory and limited. Except in the short run, real interest rates are determined by a wide range of economic factors, including prospects for economic growth—not by the Fed. – Ben Bernanke's BlogDominant Social Theme: Let us be educated about money b...Read More
IRS chief to GOP: You can't abolish us … The IRS commissioner on Tuesday brushed aside GOP proposals to abolish his agency, insisting the U.S. would have to have a tax collector one way or another. "You can call them something other than the IRS if that made you feel better," the agency's chief, John Koskinen, said after a speech at the National Press Club. Republicans have...Read More
Why are interest rates so low? … The Fed's ability to affect real rates of return, especially longer-term real rates, is transitory and limited. Except in the short run, real interest rates are determined by a wide range of economic factors, including prospects for economic growth—not by the Fed. – Ben Bernanke's BlogDominant Social Theme: Let us be educated about money b...Read More
IRS chief to GOP: You can't abolish us … The IRS commissioner on Tuesday brushed aside GOP proposals to abolish his agency, insisting the U.S. would have to have a tax collector one way or another. "You can call them something other than the IRS if that made you feel better," the agency's chief, John Koskinen, said after a speech at the National Press Club. Republicans have...Read More
Body Count Report Reveals At Least 1.3 Million Lives Lost to US-Led War on Terror … Although a conservative estimate, physicians' groups say the figure 'is approximately 10 times greater' than typically reported … – CommonDreams.orgDominant Social Theme: These are just skirmishes.Free-Market Analysis: It is important to keep track of the war on terror and its damages....Read More
Teen libertarian is face of Brazil's young free-market right … The March 15 demonstration was the largest Sao Paulo had seen in more than three decades, since 1984 protests demanding democratic elections after a long dictatorship. But more surprising than the crowd of over 200,000, according to the Datafolha polling and statistics agency, was the fact it was being led by Kataguiri, a ski...Read More
Body Count Report Reveals At Least 1.3 Million Lives Lost to US-Led War on Terror … Although a conservative estimate, physicians' groups say the figure 'is approximately 10 times greater' than typically reported … – CommonDreams.orgDominant Social Theme: These are just skirmishes.Free-Market Analysis: It is important to keep track of the war on terror and its damages....Read More
Teen libertarian is face of Brazil's young free-market right … The March 15 demonstration was the largest Sao Paulo had seen in more than three decades, since 1984 protests demanding democratic elections after a long dictatorship. But more surprising than the crowd of over 200,000, according to the Datafolha polling and statistics agency, was the fact it was being led by Kataguiri, a ski...Read More
Lee Kuan Yew and the Myth of Asian Capitalism … When Lee Kuan Yew took office, Singapore was poor; in 2015, it's one of the richest countries in the world. – BloombergDominant Social Theme: Prosperity has little to do with freedom.Free-Market Analysis: Predictably, the death of Lee Kuan Yew has generated many positive comments in the mainstream media about his "leadership"...Read More