29 Jun 2013

Milton Friedman: Freshwater Keynesian

When Professor Friedman Opened Pandora’s Box: Open Market Operations
By : At the end of the day, Friedman jettisoned the gold standard for a remarkable statist reason. Just as Keynes had been, he was afflicted with the economist’s ambition to prescribe the route to higher national income and prosperity and the intervention tools and recipes that would deliver it. The only difference was that Keynes was originally and primarily a fiscalist, whereas Friedman had seized upon open market operations by the central bank as the route to optimum aggregate demand and national income.
There were massive and multiple ironies in that stance. It put the central bank in the proactive and morally sanctioned business of buying the government’s debt in the conduct of its open market operations. Friedman said, of course, that the FOMC should buy bonds and bills at a rate no greater than 3 percent per annum, but that limit was a thin reed.


The NWO: Operation Paul Revere + US Forced Blood Draws

Directed by Micah Ellars

Bankster Peek-a-boo Accounting - Max Keiser with Francine McKenna

Max Keiser and Stacy Herbert discuss the latest peek-a-boo accounting fashion trends looking great matched with a missold swap or wrapped in an accidental misplacement of segregated client funds. If your name is Jane Tacky Toe Polish, however, do not try the latest in financial fraud trends as you'll be sent to prison for a long time. In the second half, Max talks to Francine McKenna of TheAuditors.com about the Bernie Madoff of munis and the cooked bailout books at Anglo-Irish bank.

State Usurpation of Parenthood, Conditioning and How Cancer Can Make You Well - Stefan Molyneux with Laurette Lynn

Stefan Molyneux, host of Freedomain Radio, speaks with Laurette Lynn from Unplugged Mom about the effects of his cancer diagnosis and treatment, including the relief from the burden of inconsequential worries, the state usurpation of parenthood and conditioning.

Why Banks ALWAYS Fail

By Martin Armstrong:

QUESTION: Why do banks seem to always fail?
ANSWER: The business model is inherently flawed. They borrow short-term on demand and lend long-term. They take your demand deposits in your checking account and lend for mortgages out 30 years or speculate with your money like M.F. Global who Obama protected proving my point – Democrats & Republicans are the same. They make noize on the social issues only – but when it comes to money, they smile with their hand out for crumbs from the bankers.
There is ALWAYS a bank failure because the business model is simply unsound. The way to correct the problem is simple. Long-term lending must be matched ONLY with term deposits – never demand deposits. I have advised banks as well as been on the board of a bank. So I have been there, seen it all, and understand it clearly.
The real problem is that the bankers sell the government debt and threaten them that if they do not bail them out every time they lose money, government goes down. Total blackmail. That has to STOP.

FBI Had Plans to Kill Occupy Leaders

AJ: Wesley Clark says Americans love the surveillance state as we learn a WikiLeaks volunteer was a paid FBI informant and a FOIA request show that the FBI had plans to kill Occupy leaders with sniper rifles. Source

Edward Snowden: the Manchurian Candidate

By Richard Cottrell: Points of detail are important.
Edward Snowden is not an NSA sub contractor. He worked for the ‘consultancy’ Booz Allen Hamilton which is a shop front for the CIA, not the NSA. First warning.
Second. None of the ‘secrets’ he revealed are even vaguely secret, since the information concerning NSA snooping on foreign powers was already in the public realm, many times over. The problem is that newspapers and journalists intoxicate themselves with spy stories and rarely bother to sift through all the parallel information. Takes too long.
Third. His hop, skip and jump activities were clearly well planned in advance. Who, exactly, set up the fake exit to Cuba story, which put a truckload of journalists on the wrong (teetotal) flight? Snowden? Pull the other one. He had that sort of power over Aeroflot? Who put the story around anyway? Snowden again? Hey this guy was wasted working for the CIA, he should have been in PR.
Fourth. He got on a plane to Russia without a visa. I have been to Russia many, many times and I can tell you that is an impossible feat without real inside connections.

Criminality among UK police on the rise

PressTV: They are supposed to be the ones in charge of upholding Britain's law and order but the men and women of police forces across the country are not averse to breaking the rules themselves. A freedom of information request revealed a shocking rise in the number of officers disciplined for misconduct. Source

Feminazis: Orwell Would be Proud

SubMan USN: Are there any similarities between Orwellian societies and feminism?

What’s So Scary About Deflation? - Ludwig von Mises Institute

By : When it comes to deflation, mainstream economics becomes not the science of common sense, but the science of nonsense. Most economists today are quick to say, “a little inflation is a good thing,” and they fear deflation. Of course, in their personal lives, these same economists hunt the newspapers for the latest sales.
The person who epitomizes this fear of deflation best is Ben Bernanke, chairman of the Federal Reserve. His interpretation of the Great Depression has greatly biased his view against deflation. It is true that the Great Depression and deflation went hand in hand in some countries; but, we must be careful to distinguish between association and causation, and to correctly assess the direction of causation. A recent study by Atkeson and Kehoe spanning a period of 180 years for 17 countres found no relationship between deflation and depressions. The study actually found a greater number of episodes of depression with inflation than with deflation. Over this period, 65 out of 73 deflation episodes had no depression, and 21 out of 29 depressions had no deflation.

US PIG (Prisoner Industrial Gulag): Texas Teen Faces 8 Years in Jail for an Insensitive Joke on Facebook

By Michael Krieger: A very disturbing pattern is becoming evident all across the nation.  For a country that has 5% of the world’s population yet 25% of the entire planet’s prisoners, we sure do seem to eager to bump that figure up even higher. My guess is the trend has a lot to do with the private prison system in the country, which means higher levels of incarceration equals higher profits.  I think it also has to do with a troubling move toward criminalizing speech and an attack on the First Amendment generally.  This particular case occurred in Austin, Texas and nineteen year old Justin Carter now faces eight years in jail for an insensitive joke on Facebook. Thanks to the site Texas Prison Bid’ness, we can gain some perspective on the private prison industry in the Lone Star State:

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Now, here’s the story from KHOU in Houston:
Justin Carter was 18 back in February when an online video game “League of Legends” took an ugly turn on Facebook.