Monthly Archives: July 2012

The Golden Jay Taylor

Debt, Economy, Federal Reserve Bank, Inflation, Political Economy

Canada is interested in what my friend Jay Taylor has to say about gold. Mr. Taylor is a New-York based investor and broadcaster who invests and broadcasts in the Austrian tradition (gold bug).

On the real price of gold:

“… An ounce of gold is an ounce of gold, but what is a dollar?”

Since there is no measure of the worth of the dollar, “Mr. Bernanke can create 2 trillion dollars more out of nothing, which is like taking an inch off a yardstick every year and still calling it a yardstick.”

What an ounce of gold buy, using the commodity based “Rogers International Raw Materials Fund, L.P.,” is rising steeply.

Gold’s real price has surged to “crisis levels,” retort Jay’s smart Canadian interviewer (whatever that phrase means). “The yardstick is getting shorter and shorter in dollar terms,” and the gold-mining sector is doing swell.

Jay predicts that gold could hit $2500 an ounce. An Austrian economics purist, Jay ventures that we are in deflationary times, thus the price of gold could fall, as its purchasing power rises.

You don’t have to convince me. “Gold Is A Girl’s Best Friend (& Bona Fide).”

UPDATED: Romney Went Wooing And Got Booed

Democrats, Elections, Left-Liberalism And Progressivisim, Racism, Reason, Republicans, War, Welfare

Mitt Romney, rather bravely, went to court the National Association for the Advancement of Colored People, at the NAACP’s annual convention. He got booed.

Thank CNN for its reliable, comprehensive transcripts. Here are those Romney remarks that angered the crowd at the NAACP Convention:

I’m going to reduce government spending. I hope everyone understands that high levels of debt slow down the rate of growth of the GDP, of the economy. And that means fewer jobs are created. If our goal is jobs, we have to stop spending over a trillion dollars than we take in every year. And so to do that I’m going to eliminate every nonessential expensive program that I can find. That includes Obama care and I’m going to work to reform and save –
(BOOING)

In reply to the frosty reception, Romney told Neil Cavuto of Fox News:

“I am going to give the same message to the NAACP that I give across the country which is that ObamaCare is killing jobs, and if jobs is the priority, then we’re going to have to replace ObamaCare with something that actually holds down health care costs,” he said.
He addressed the fact that in 2008, President Obama got 96 percent of the African-American vote, and said that he believes he’ll take some of that vote away because African Americans are disappointed with the president’s policies.
He added, “By the way, at the end of my speech, having a standing ovation was generous and hospitable on the part of the audience. And I believe that while we disagree on some issues like ObamaCare, on a lot of issues people see eye-to-eye. They want to get the economy going again.”

Every broadcaster knows, but will not say, why blacks vote Democratic almost exclusively: welfare. Free stuff.

Every broadcaster knows, but will not say, why blacks voted en masse for Obama: racial solidarity.

Romney’s changes to the welfariat will probably be minor—and any cuts in welfare will be used to justify waging wars.

Still, the mere hint that, under the too-white to like Romney, state-mediated distribution of the wealth of others would slow provokes black ire.

UPDATE: The Wall Street Journal editorializes that with his NAACP visit, Romeny was appealing to the wrong constituency: the black liberal establishment.

Well, if Romeny’s “mistake [was] thinking that the NAACP represents average black voters,” it’s an error one can understand. Voting records that lack nuance attest to it. Blacks, moreover, have never risen against their shakedown elites, because, as the community perceives them, race racketeers like “Reverend” Al Sharpton are doing the Lord’s work.

He Contorts, Tom Woods Decides

Conservatism, Constitution, Founding Fathers, Media, Republicans

If Bill O’Reilly proves anything (over and over again) it is that Gresham’s Law (generalized beyond economics) reigns supreme: Specious reasoning will always drive out careful thinking.

Against these odds, Tom Woods tackles O’Reilly’s reliably wonky “constitutional scholarship,” in a masterful YouTube clip, below:

From The O’Reilly Factor, email segment for July 5:

“Bill, you keep asking what the Republicans have to replace Obamacare. Under the Constitution, there is no role for the Federal government in healthcare.”
–Felicia

O’Reilly:
“That’s not true, Felicia. The opening paragraph of the Constitution says the welfare of the people must be promoted. A just healthcare system comes under that banner.”

[Tom Woods] couldn’t resist answering this [for which we should all be grateful].

Timing The Truth

Barack Obama, Bush, Criminal Injustice, Journalism, Just War, Left-Liberalism And Progressivisim, Media, Military, Terrorism, War

I don’t know much about the political bent of Esquire Magazine. Is it left-liberal? (Bound to be.) Is it comfortably mainstream? (Ditto.) It looks like a déclassé New Yorker.

What I do know is that for “finishing off a 16-year old Yemeni boy—the son of Anwar al-Awlakias”—this writer, other non-beltway libertarians, and reporters outside the orthodoxy (the good folks at RT are an example) called Obama a murderer AROUND THE TIME HE COMMITTED THAT MURDER, not a year later.

Tom Junod of Esquire, a seemingly affable fellow, has only NOW come out with a “highly critical article about President Obama’s drone strike program.” To CNN, “Junod described Pres. Obama’s presidency as ‘lethal,'” and “told anchor Brooke Baldwin “why he wrote the article and the work that went into it.”

Junod’s essay, “The Lethal Presidency of Barack Obama,” is dated July 9, 2012.

Read it, if you don’t mind the cloying format: a letter to the beloved Strong Man.

The point is that the establishment—Democratic and Republican—decides when Truth should be allowed to emerge. It’s not a conscious process; but a reflexive one. It’s not that these interests know the truth when they see it. Rather, reflexively, they marginalize those who speak it, until such politically opportune times when the truth can be spoken. Then they act (quite sincerely) as though they discovered said truth and are performing a great public service by speaking it.

“The Perils of a Killer President (Parlaying Vice into Votes)” was written on 09.30.11.

“Murder on Her Mind,” which also alluded to Uncle Sam’s assassin-in-chief, followed in October 28, 2011.

On February 3, 2012, “BHO: Uncle Sam’s Assassin” pulled back the curtain to reveal Barack Obama as the “uncrowned king of the killer drone.”

Barely a Blog’s latest in tracking this president—every bit as execrable as Genghis Bush—is “Killer Words & Kill Lists,” dated 05.29.12.