“Nuit Debout” – Have Protests in France Turned Into a Larger Movement?

Screen Shot 2016-04-13 at 4.53.19 PM

The French people have been protesting new labor laws for a couple of weeks, but what I find particular interesting is the potential for these gatherings to turn into a full fledged political movement.

We all know by now that the status quo doesn’t care if the peasants get out in the streets for a few days to blow off some steam after being raped and pillaged by politicians. What really worries them; however, is when people get together, start talking to each other and then form cohesive movements. With “Nuit Debout,” or “Up All Night,” this may be happening in France.

Reuters reported the following yesterday:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Liberty Links 4/13/16

12 links today. Enjoy. Robert De Niro on “Vaxxed”: ‘The Movie is Something That People Should See’ (Infowars) UK Regulators Declare Start of “Beautiful Friendship” With Bitcoin, Ethereum (Brilliant move by the UK government, CoinTelegraph) Forget Flipping Houses — These Retail Investors Flip Mortgages (Nuts, Market Watch) Inspector General Says FBI Not Doing Enough To … Read more

Hillary Clinton Will Win New York, Because New York is Running a Banana Republic Primary

Screen Shot 2016-04-13 at 11.53.29 AM

While it might sound strange, a coronation of Hillary Clinton in the Democratic primary will mark the end of the party as we know it. There’s been a lot written about the “Sanders surge,” with much of it revolving around Hillary Clinton’s extreme personal weakness as a candidate. While this is indisputable, it’s also a convenient way for the status quo to exempt itself from fault and discount genuine grassroots anger. I’m of the view that Sanders’ support is more about people liking him than them disliking Hillary, particularly when it comes to registered Democrats. He’s not merely seen as the “least bad choice.” People really do like him.

The Sanders appeal is twofold. He is seen as unusually honest and consistent for someone who’s held elected office for much of his life, plus he advocates a refreshingly anti-establishment view on core issues that matter to an increasing number of Americans. These include militarism, Wall Street bailouts, a two-tiered justice system, the prohibitive cost of college education, healthcare insecurity and a “rigged economy.” While Hillary is being forced to pay lip service to these issues, everybody knows she doesn’t mean a word of it. She means it less than Obama meant it in 2008, and Obama really didn’t mean it.

– From the post: It’s Not Just the GOP – The Democratic Party is Also Imploding

Unless you’ve been living in a cave, you’ll know that New Yorkers go to the primary voting booths on April 19th. Unfortunately, only a small sliver of the population will actually be able to vote. First, it’s a closed primary, so you have to be registered as a member of one of the two corrupt political parties in order to participate. As the Guardian recently reported, 27% of New York state’s active voters were not registered in either party as of April 2016, meaning these people will have no say in the primary. Even worse, what about all those residents who aren’t active voters, but would very likely vote in this particular election given the increased turnout seen in other states? They’re iced out as well.

New York has one of the most archaic primaries in the nation. Not only is it one of only 11 states with closed primaries, but if you are a registered voter who wanted to change your party affiliation in order to vote in next week’s primary, you would’ve had to do it by last October. In contrast, if you weren’t yet a registered voter you had until March 25th to register under one of the two parties in order to vote in the primary. So if you live in New York and haven’t registered by now, you can’t vote. 

As the Guardian reports:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

The Goldman Sachs Settlement Is an Abomination and Insult to All American Citizens

Screen Shot 2016-04-13 at 9.56.03 AM

The increased use of eminent domain to transfer property to powerful political interests, the ramifications of the wars on terrorism and drugs, and the violation of the property rights of bondholders in the auto-bailout case have weakened the tradition of strong adherence to the rule of law in United States. We believe these factors have contributed to the sharp decline in the rating for the legal-system area.

To a large degree, the United States has experienced a significant move away from rule of law and toward a highly regulated, politicized, and heavily policed state.

– From the 2014 post: New Report – The United States’ Sharp Drop in Economic Freedom Since 2000 Driven by “Decline in Rule of Law”

The American public should be out in the streets by the hundreds of thousands demanding the resignation of President Barack Obama in response to the total sham settlement just announced by the U.S. government with Goldman Sachs. This farce should be seen for what it really is; a gigantic establishment middle finger waving contemptuously in the face of the reliably neutered and long-suffering American public.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Sales of Short-Term Health Plans Soar as Americans Flee Expensive Obamacare

Screen Shot 2016-04-12 at 1.58.09 PM

When it comes to Obamacare, the devil is in the details.

As the years go by, Americans are quickly recognizing that not only is Obamacare not helping them out, it’s actually crushing their paychecks to such an degree they’re finding it necessary to pursue alternatives. This has resulted in a mad dash into non-ACA compliant short-term health insurance plans, or the kind of plans Obamacare was specifically designed to replace.

Before we get into that, it’s important to understand just how unaffordable and useless Obamacare actually is for millions of Americans. First, let’s revisit a few excerpts from last month’s post, The Health Insurance Scam – “Coverage” Doesn’t Mean Affordability or Access:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Swiss Bank Whistleblower Claims Panama Papers Was a CIA Operation

Screen Shot 2016-04-12 at 11.05.13 AM

Bradley Birkenfeld is the most significant financial whistleblower of all time, so you might think he’d be cheering on the disclosures in the new Panama Papers leaks. But today, Birkenfeld is raising questions about the source of the information that is shaking political regimes around the world. 

“The CIA I’m sure is behind this, in my opinion,” Birkenfeld said. 

– From the CNBC article: Swiss Banker Whistleblower: CIA Behind Panama Papers

Last Friday, I published a post titled, Was the Panama Papers “Leak” a Russian Intelligence Operation? Here’s some of what I wrote:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Chart of the Day – Wall Street vs. Main Street

Screen Shot 2016-04-12 at 9.04.31 AM

Wall Street is counting its winnings from seven years of easy money.

The results represent a clear victory for Wall Street over Main Street, according to the team of Michael Hartnett, BofA’s chief investment strategist.

“Zero rates and asset purchases of central banks have, thus far, proved much more favorable to Wall Street, capitalists, shadow banks, ‘unicorns,’ and so on than it has for Main Street, workers, savers, banks and the jobs market,” the BofA team wrote.

– From the post: Bank of America Admits – Central Bank Policy Enriched Wall Street While “Steamrolling” Main Street

When I first started this website several years ago, part of my mission was to convince as many people as possible that we all have a common adversary, the U.S. status quo. Back then, the public was still largely confused. Still in financial shock from the crisis, many Americans hung onto hope that if they just kept their heads down and worked hard things would get better. Well they didn’t get better, and they aren’t going to.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Liberty Links 4/11/16

17 links today. Enjoy. Goldman Sachs Will Pay $5B for Fraudulent Sales of Toxic Debt, No One Will Go to Jail (BoingBoing) CIA’s Venture Capital Arm Is Funding Skin Care Products That Collect DNA (How cute, The Intercept) “Real-time Facial Reenactment” (Mind-blowing video, YouTube) Adobe Issues Emergency Update to Flash After Ransomware Attacks (Very important issue, … Read more

“The Pirates Are Coming” – Iceland’s Pirate Party Polls at 43% Following the PM’s Resignation

Screen Shot 2016-04-11 at 3.05.50 PM

The most fascinating and encouraging political movement occurring anywhere on earth at the moment is taking place in the tiny nation of Iceland. No, it has nothing to do with the recent resignation of the country’s Prime Minister after it was discovered via the Panama Papers that he and his wife owned Icelandic bank debt through an undisclosed offshore vehicle. What I’m referring to is the exponential popularity of the less than four-year-old “Pirate Party.”

So what is the Pirate Party? Motherboard explains:

Over 20,000 protesters descended on the Icelandic capital of Reykjavik last week following the release of the Panama Papers, over 11 million files from the database of Mossack Fonseca, one the world’s largest offshore law firms. Gathered in front of the Icelandic Parliamentary building, the protesters were calling for the resignation of their prime minister Sigmundur Davíð Gunnlaugsson after the Panama Papers revealed that he and his wife had major financial conflict of interest tied up in a shell company in the British Virgin Islands.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

You’ve Been Warned – Ben Bernanke Praises “Helicopter Money” in Latest Blog Post

Screen Shot 2016-03-15 at 3.56.59 PM

Don’t say you weren’t warned.

What follows are some excerpts from Banana Republic Ben’s latest blog post titled, What Tools Does the Fed Have Left? Part 3: Helicopter Money.

When monetary policy alone is inadequate to support economic recovery or to avoid too-low inflation, fiscal policy provides a potentially powerful alternative—especially when interest rates are “stuck” near zero. However, in recent years, legislatures in advanced industrial economies have for the most part been reluctant to use fiscal tools, in many cases because of concerns that government debt is already too high. In this context, Milton Friedman’s idea of money-financed (as opposed to debt-financed) tax cuts—“helicopter money”—has received a flurry of attention, with influential advocates including Adair TurnerWillem Buiter, and Jordi Gali.

In this post, I consider the merits of helicopter money as a (presumably last-resort) strategy for policymakers. I make two points. First, in theory at least, helicopter money could prove a valuable tool. In particular, it has the attractive feature that it should work even when more conventional monetary policies are ineffective and the initial level of government debt is high. However, second, as a practical matter, the use of helicopter money would involve some difficult issues of implementation. These include (1) the need to integrate the approach with standard monetary policy frameworks and (2) the challenge of achieving the necessary coordination between fiscal and monetary policymakers, without compromising central bank independence or long-run fiscal discipline. I propose some tentative solutions for these problems.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.