Tuesday, January 19, 2010



* Tom Singleton sends along this troubling article about the way the feds might came after 401(k) assets. Incidentally, this is one of the "real world"-type reasons that made me more receptive to Nelson Nash's Infinite Banking Concept. Nash argues that it's silly to take the returns in your 401(k) at face value, because even setting aside the volatility, it will be much easier for the feds to tap into a tax-created asset class when the budget hole becomes unbearable. In contrast, the government would obviously remove the tax exemption from whole life insurance policies at some point, but it would be a lot harder politically for them to simply seize the accumulated assets.

* Joe Sobran explains his path from government-loving patriot to Rothbardian anarchist. For those of you (e.g. my relatives) who check in here occasionally for financial advice but not for "Bob's nutjob political views," I highly recommend this article. It's not in this particular piece, but I'm pretty sure it was Sobran one time who wrote something like, "At a certain point in my life I realized that I was a Big Government conservative. The liberal Democrats cared about getting more money for social programs, whereas I always looked favorably upon bigger budgets for the military, without really concerning myself with whether the money was well spent."

* Sorry I can't remember who sent this to me, but someone said that here the Fed explains that the Fed didn't cause the housing bubble. Phew!

* From LRC, a Justin Raimondo article on the "weird factor" surrounding the underwear bomber incident. I had never heard some of these details. For example, did you know that there was apparently a passenger on board the plane who videotaped the incident? You could say that the government confiscated the tape for security purposes, but why hasn't anybody been talking about it?! (By the way, I'm not referring to it as the "underwear bomber incident" to make light of it, it's just that I'm too lazy to go copy and paste the guy's name. When Joe Smith lights his underwear on fire, I'll refer to it as, "Joe Smith's attempted attack.")

* I might ask my wife to buy me Glenn Greenwald for my birthday. We all know he's great on civil liberties, but here he does a good job explaining the distinction between capitalism and what's been happening on Wall Street.

* Tributes to Rothbard in The Freeman.

* Dick Clark the Younger has some thoughts on "Obama the People's War President," and his acquaintance who was in the military and became a conscientious objector.


The article link sent to you by Tom Singleton is indeed troubling. The Fed is also exploring deposit taking from the commercial banks to lend to guess who? It is dressed up as controlling money supply. Earlier the announced a plan to facilitate third party repos, again to control money supply; but actualy it is a way of getting financial institutions to gear up on government debt.

The Fed and the US government is definitely planning a robbery of some sort upon its citizens.


I saw a Business Week article referenced at http://news.silverseek.com/GoldIsMoney/1263437229.php that seems to be the same one referred to by Singleton, but when I click on the link (http://www.businessweek.com/news/2010-01-08/americans-oppose-initiatives-limiting-401-k-choices-ici-says.html) I get a "resource not found" error. Searching at businessweek.com got nowhere either. Can anyone find the original article? I don't doubt GovCo would contemplate such a move "for our own safety" but better documentation would add credibility to these articles.
Connie, I did a google search on the url for the biz week article and then clicked on the "cached" link to get to the article.

I hope this helps.
One major mistake in Sobran's piece is when he mentions:

"R.J. Rummel of the University of Hawaii calculates that in the twentieth century alone, states murdered about 162,000,000 of their own subjects"

It is actually 262 million, not 162 million! His latest figures are here:

Allen, Thanks! That technique is a new one for me :)
How's that anarchy thing working out in Haiti?

That's like judging the efficacy of school vacations by looking at Colorado the week after Columbine.
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