Beware the spin doctors and the ignorant!

The pundits on TV (Dobbs, Beck, Hannity, Colmes, O'Reilly, etc.) and the politicans and bureaucrats are spinning the story and telling us that "free market capitalism" caused our current financial crisis.

Nothing could be further from the truth. The government and its cranky quasi-governmental agencies, like the Fed, Fannie, and Freddie, caused the crisis. But of course, they are never wrong. Now they are spinning the story, not only because they are ignorant of Austrian economics, but because they are constantly seeking legitimacy and power.

As you can read here in this article by a great economist, George Reisman, it's not the market that caused the problem. It's the government. Thanks to mises.org for publishing yet another great article that cuts through the crap.

The Constitution in peril

Here is a short book review by Doug Bandow that appeared on antiwar.com, one of my favorite websites. Very alarming. This book should be read, and all of us need to become champions of liberty (unfortunately, most Americans are sheeple).

Government DNA database

As you can read here in this article, the U.S. government is building a database of newborn DNA. All for our protection, of course (wouldn't you agree, comrade?). The scariest part is that citizens can be subjected to genetic research without their consent. Never mind that the government lacks the constitutional authority to pass and implement this law - the Constitution to them is an old-fashioned, outdated document. Time to work on your exit plan.

Mises knew it a long time ago

The greatest economist of the 20th century, Ludwig von Mises, wrote one of his many great works back in 1934. The title: The Theory of Money and Credit. This book is especially important now because of the devastation of American wealth caused by the inflating central bank, the Federal Reserve. An excerpt:

"Native inflationism demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of money. It wants more money because in its eyes the mere abundance of money is wealth. Fiat money! Let the state "create" money, and make the poor rich, and free them from the bonds of the capitalists! How wrong to forgo it simply because this would run counter to the interests of the rich! How wicked of the economists to assert that it is not within the power of the state to create wealth by means of the printing press! - You statesmen want to build railways and complain about the low state of the exchequer? Well, then, do not beg loans from the capitalists and anxiously calculate whether your railways will bring in enough to enable you to pay interest and amortization on your debt. Create money, and help yourselves."

Mises knew back then that the creation of money backed by nothing leads to disaster. As we watch the economy collapse this year and next, we can only hope that Mises' works catch on so we can finally abandon Keynesianism, that economic crap they teach in public schools.

What happened?

The root cause of the current crisis is central banking (the Federal Reserve) and its fiat money system. Whenever any central bank prints money out of thin air, the chickens ultimately come home to roost. Only a few of the "experts" you see on CNN, Fox, etc. actually understand this. So all the meaningless talk is just that, meaningless, unless they discuss the Fed and its policies.

Only the Austrians knew what was coming, and they predicted it years ago. By studying Austrian economics, you'll not only know more economics than almost the entire U.S. population, but you'll also be better able to invest your money and avoid catastrophe.

Simply invest $6.00 and buy The Case Against the Fed by Murray Rothbard. Then you'll also realize that neither Obama nor McCain knows what's going on or how to fix it.

The Great Rip-Off of 2008

The U.S. government has done it to us again. It's been downhill since that dark year of 1913 when we got the income tax, the Fed, and the direct election of senators, but now they've really done it to us.

This bailout will be a complete, unmitigated disaster. The ultimate cost will be borne by us, the taxpayers, and Wall Street and the economy will never be as free as it once was.

Plan your exit strategy now, which may include learning a second language, obtaining dual cititzenship, and purchasing real money (gold and silver).