Thursday, October 25, 2012
Wednesday, October 24, 2012
Gold Can Save Us From Disaster - Forbes
Gold Can Save Us From Disaster - Forbes
A new gold standard is crucial. The disasters that the Federal Reserve and other central banks are inflicting on us with their funny-money policies are enormous and underappreciated. An unstable dollar is wreaking havoc on our capital markets, depriving us of money for productive enterprises and future enterprises while subsidizing government debt on a scale never before seen in U.S. history. The zero-interest-rate policy destroys capital by punishing savers and enabling the central bank to allocate where capital goes. By definition such central planning means subpar or negative returns. No one believes, given the finances of the U.S. government, that a ten-year Treasury bond should yield only 1.8%.
The promiscuous printing of money in the U.S., Europe and elsewhere is enabling governments to put off pro-growth structural reforms and giving them incentive to increase the burdens on the private sector. The poster child here, of course, is France, raising its maximum income tax rate to 75%. Not since the early 1930s have governments of major countries collectively acted so destructively. The only difference between then and today—and it is a gargantuan one—is that we haven’t destroyed the global trading and capital systems. But even they are facing increasing strains and will continue to do so unless policies are changed.
Gold Can Save Us From Disaster
This story appears in the October 22, 2012 issue of Forbes.
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A new gold standard is crucial. The disasters that the Federal Reserve and other central banks are inflicting on us with their funny-money policies are enormous and underappreciated. An unstable dollar is wreaking havoc on our capital markets, depriving us of money for productive enterprises and future enterprises while subsidizing government debt on a scale never before seen in U.S. history. The zero-interest-rate policy destroys capital by punishing savers and enabling the central bank to allocate where capital goes. By definition such central planning means subpar or negative returns. No one believes, given the finances of the U.S. government, that a ten-year Treasury bond should yield only 1.8%.The promiscuous printing of money in the U.S., Europe and elsewhere is enabling governments to put off pro-growth structural reforms and giving them incentive to increase the burdens on the private sector. The poster child here, of course, is France, raising its maximum income tax rate to 75%. Not since the early 1930s have governments of major countries collectively acted so destructively. The only difference between then and today—and it is a gargantuan one—is that we haven’t destroyed the global trading and capital systems. But even they are facing increasing strains and will continue to do so unless policies are changed.
Thursday, October 11, 2012
The United Nations: On the Brink of Becoming a World Government
The United Nations: On the Brink of Becoming a World Government
On October 14, 2009, Lord Christopher Monckton, former science advisor to British Prime Minister Margaret Thatcher, delivered a scathing refutation of the concept of human-caused global warming at Bethel University in St. Paul, Minnesota. During his presentation, Lord Monckton focused on the UN climate treaty that was being proposed for the United Nations Climate Change Conference in Copenhagen that December. He warned:
At the UN’s Rio+20 Earth Summit on Sustainable Development in Rio de Janeiro, Brazil, in June 2012, the world government advocates were pushing even grander schemes. Lord Monckton, who heads the policy unit of the U.K. Independent Party and is chief policy advisor to the Washington, D.C.-based Science and Public Policy Institute, told The New American’s Alex Newman, “They were still effectively talking about a mechanization for setting up a global government so that they could shut down the West, shut down democracy, and bring freedom to an end worldwide.”
On October 14, 2009, Lord Christopher Monckton, former science advisor to British Prime Minister Margaret Thatcher, delivered a scathing refutation of the concept of human-caused global warming at Bethel University in St. Paul, Minnesota. During his presentation, Lord Monckton focused on the UN climate treaty that was being proposed for the United Nations Climate Change Conference in Copenhagen that December. He warned:
I read that treaty. And what it says is this: that a world government is going to be created. The word “government” actually appears as the first of three purposes of the new entity. The second purpose is the transfer of wealth from the countries of the West to third world countries.... And the third purpose of this new entity, this government, is enforcement.
Not just any government, mind you. “They are about to impose a communist world government on the world,” warned Monckton.At the UN’s Rio+20 Earth Summit on Sustainable Development in Rio de Janeiro, Brazil, in June 2012, the world government advocates were pushing even grander schemes. Lord Monckton, who heads the policy unit of the U.K. Independent Party and is chief policy advisor to the Washington, D.C.-based Science and Public Policy Institute, told The New American’s Alex Newman, “They were still effectively talking about a mechanization for setting up a global government so that they could shut down the West, shut down democracy, and bring freedom to an end worldwide.”
Thursday, October 4, 2012
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