Tom Woods Supports The Evisceration of What Was Once The Republic


Bitcoin Myth #1 – Bitcoins are Anonymous by Bitcoins Anonymous

Thomas E Woods– Deceiver, Enemy to the Constitution

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Why Tom Woods is wrong about the Greenbackers
We could print enough debt free paper money to pay off the National Debt. This Debt is entirely credit based, for every debt free dollar we print, a credit based dollar would go out of circulation. Meaning: no inflation.

Glass-Steagall Red Herring

Repost of  Tom Woods article about a topic that has been discussed in length by Lyndon LaRouche

‘Repeal’ of Glass-Steagall Irrelevant to Financial Crisis

Although we’ve heard a great deal about how “deregulation” caused the financial crisis, specific cases of repealed legislation that would have prevented it are few and far between. The one some progressives seem to have settled on is the “repeal” of the Glass-Steagall Act of 1933, which separated commercial from investment banking. The “repeal” involved only one provision of the Act, the one preventing the same holding company from controlling both a commercial bank and an investment bank.

I’ll try to write more on this when I have time (for now, I’ll note that I cover the subject in Rollback, my book from earlier this year). When we recall that stand-alone institutions, both commercial and investment, also failed during the crisis, and that all of them acquired mortgage-backed securities (which they had always been allowed to do, by the way), the Glass-Steagall “repeal” looks more and more like a red herring that appeals to people whose belief system requires them to find some way a Fed-fueled bubble could have been stopped had the right regulatory structure been in place.

(The problem with those who point to Glass-Steagall is not that they’re radical. It’s that they’re not nearly radical enough. They think the system as is, shot through with moral hazard at every level, and presided over by a market-defying central bank, is of its nature stable and without fault; we just need a few regulations.)

Because Glass-Steagall was passed during the Depression, it is assumed that it was addressing a pressing need of the time.  In fact, the lack of government-enforced division between commercial and investment banking had precisely zero to do with bank problems during the Great Depression. The 9,000 bank failures during the early 1930s had far more to do with the damage done by government regulation — namely, the unit-banking laws that made it difficult for banks to diversify their portfolios (by limiting them to a single office and making branching illegal) — than with a lack of regulation. These were small banks, not the behemoths for which Glass-Steagall would have been relevant. Canada had none of these stifling regulations, and had zero bank failures. (Incidentally, Canada also avoided all the post-Civil War bank panics that struck the U.S., even though Canada did not have a central bank until 1934 — yet again, reality refuses to conform to the where-would-we-be-without-our-wise-overlords comic-book version of events.)

The Glass-Steagall-did-it crowd is the same crowd that likes to claim Canada avoided the worst of the U.S. crisis because it was so much better regulated. But they can’t have it both ways — Canada did not have a Glass-Steagall law! (For the real story on what happened in Canada, click here.)

For a little more on this, see Bill Woolsey. Again, I’ll try to revisit this soon.

Article source: http://www.tomwoods.com/blog/repeal-of-glass-steagall-had-nothing-to-do-with-the-crisis/

Bernanke Proposes Round 3 Quantitative Easing

Federal Reserve chairman Ben Bernanke is hinting at a third round of quantitative easing.

But Dallas Federal Reserve Bank president Richard Fisher said today:

I firmly believe that the Federal Reserve has already pressed the limits of monetary policy. So-called QE2, to my way of thinking, was of doubtful efficacy, which is why I did not support it to begin with. But even if you believe the costs of QE2 were worth its purported benefits, you would be hard pressed to now say that still more liquidity, or more fuel, is called for given the more than $1.5 trillion in excess bank reserves and the substantial liquid holdings above the normal working capital needs of corporate businesses.

Indeed, Bernanke knew in 1988 that quantitative easing doesn’t work:

Read More at Dark Politricks

Dec. 21, 2010 – Historian and Best-Selling Author, Tom Woods, joins Judge Andrew Napolitano on Freedom Watch to discuss Ben Bernanke’s policies, the history of central banking in America, political partisan interests, and the future of the Federal Reserve.

We the people need to stand up take action stop procrastinating saying youa re going to do something and then not do it.. We need to elect President Ron Paul 2012 he is our only hope for survival in America and as Americans we need to believe in freedom not to let TSA bullies or any other kind of system push us around..

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People Having Unconventional Thoughts

Tom Woods discusses the Associated Press article, “Tea Party Vision for Montana Raising Concerns.” People in Montana have adopted unconventional views about how to reverse federal encroachments. We are supposed to be concerned about this, instead of about the encroachments themselves.

http://www.TomWoods.com

http://www.StateNullification.com

The Real Story of ‘Free Market’ Iceland

By Thomas Woods on February 26, 2011

The financial meltdown in Iceland was supposed to be the definitive argument against free markets, which were said to have caused that country’s terrible ordeal. Why, only a laissez-faire ideologue could cling to a belief in markets after this experience, etc. Now come Philipp Bagus and David Howden, two very young (and very bright — I think they’re both geniuses) Austrian economists, with the real story — which, it turns out, has plenty to do with central banking, moral hazard, and Austrian business cycle theory. Check out, in pdf, Deep Freeze: Iceland’s Economic Collapse

Ron Paul, Tom Woods, Jim Rogers and Judge Napolitano Take On the Fed

Ron Paul is America’s leading voice for limited, constitutional government, low taxes, free markets, a return to sound monetary policies, and a sensible foreign policy that puts America first.

For more information visit the following websites:
http://www.RonPaul.com
http://www.RonPaulNews.com
http://www.CampaignForLiberty.com
http://www.house.gov/paul
http://www.DailyPaul.com
http://www.RonPaulForums.com
http://www.RonPaul2012podcast.com