Smart Elvira Nabiullina Doesn’t Stimulate Russia’s Money Supply

Federal Reserve Bank, Russia

Whether through serving as a reserve for essentially fraudulent banks, or purchasing assets, usually government securities, on the free market, the central, cartelized Federal Reserve Bank is involved in increasing the money supply. For this reason, when a central banker “cuts money supply growth to single digit levels” she deserves some praise. Duly, Robert Wenzel has awarded a central banker of the year award to Russian central bank chair Elvira Nabiullina. Writes Robert:

Despite being under incredible pressure as the Russian ruble collapses on foreign exchange markets, she is staying calm and collected and is not calling for any kind of government interventions that would only make things worse. She seems to get that markets will resolve things themselves. … Contrast this coolness with the panic in the eyes of Fed chairman Ben Bernanke and Treasury Secretary Hank Paulson during the 2008 financial crisis, when they caused the US government to intervene one hundred different ways and bail out the banksters.

I suspect that it doesn’t hurt that Elvira is … cute.

The Civil Disobedience Ruse

Founding Fathers, Law, libertarianism, Morality, Natural Law, Regulation, Taxation

Despite polite efforts to resist, I was pulled, last week, into a most unpleasant, unscholarly, uncivilized, almost Kafkaesque exchange, in the wake of the publication of “Eric Garner: 100% Innocent under Libertarian Law.” Polite disagreement is second nature when one has been writing controversially and stridently for close on 20 years. However, one is also obliged to swat down any attempts on the part of an interlocutor to score points by sleight-of-hand—by obfuscation. Suffice it to say that ego-bound writing is a bad thing. When the mere prospect of being perceived as wrong is so devastating to a writer; when he becomes maniacal when challenged, digs in and digs up any and all justification for his position, however tangential—that writing ceases to edify.

Another shock to the system was realizing just how difficult the libertarian law is for most mortals to grasp. They say we libertarians make up only 10 percent of the politically conscious public. No wonder. Some of my smartest readers were bullied into believing that to not submit to the sovereign is to undermine some sacred trust or covenant.

So confused were these readers over “Eric Garner: 100% Innocent under Libertarian Law,” that they took off after the pied piper, muttering mad incantations about the understandable death by “civil disobedience” of Mr. Garner.

“Among other things,” wrote one such reader, “there are no real libertarian states and ‘common property’ exists. Thus, while I might have the right to urinate on my driveway, I do not have the right to urinate on (government-owned) Broadway and the cops can arrest me, etc.”

The issue with taxes is also problematic – one who ignores taxes is engaging in civil disobedience and suffers the consequences (this does not make the taxes good but it is not surprising for governments to enforce their own rules). I certainly would applaud those who resist truly immoral laws (like ordering someone to commit torture) but I am leery to suggest massive civil disobedience of petty regulations which may, in fact, just give rise to more oppressive government to “restore law and order”.

Eric Garner did not urinate on public property. Neither did he expose himself to kids. He waved his hands and walked away. Woe is me! As to the comment about “taxation”: yet another WTF moment. Possessing a few loose cigarettes is not a tax offense. Besides, since when do my readers stand up for the “civilizing” influence of the tax collector; a thief by any other name?

Indeed, a few of my readers took off after the rat catcher, wagging fingers at the poor sod who dared to own and dispose of some loose smokes—-committing “massive civil disobedience”—and lived to tell the tale. Scrap that. Civilization is safe. Garner did not live to tell the tale.

Some good news. The natural law has prevailed among the people:

Americans by nearly 3-1 say the white police officer responsible for the death of Eric Garner, an unarmed black man being arrested for selling cigarettes, should have faced charges from a Staten Island grand jury, a nationwide USA TODAY/Pew Research Center poll finds.

Who was it who counseled that “the tree of liberty must be refreshed from time to time with the blood of patriots and tyrants”?

Guess Who Warned Against Invading Iraq?

Bush, Foreign Policy, Iraq

Who offered the following astute, if utilitarian, analysis, in mitigation of an invasion of Iraq, in 1994?

… if we had gone to Baghdad we would have been all alone. There wouldn’t have been anybody else with us. It would have been a U.S. occupation of Iraq. None of the Arab forces that were willing to fight with us in Kuwait were willing to invade Iraq. Once you got to Iraq and took it over and took down Saddam Hussein’s government, then what are you going to put in its place? That’s a very volatile part of the world. And if you take down the central government in Iraq, you could easily end up seeing pieces of Iraq fly off. Part of it the Syrians would like to have, the west. Part of eastern Iraq the Iranians would like to claim. Fought over for eight years. In the north, you’ve got the Kurds. And if the Kurds spin loose and join with Kurds in Turkey, then you threaten the territorial integrity of Turkey. It’s a quagmire if you go that far and try to take over Iraq.

Bush’s Vice president Dick Cheney, one of the architects of the invasion of Iraq in 2002, had advised against it in 1994. His predictions as to the destabilization of Iraq—he doesn’t mention the bloodshed, because Cheney was never one to count bodies—have come to pass.

Torture A Fig Leaf For Greater Evil

Iraq, Law, Morality, Terrorism, The State

You’ll probably say this is a serious defect, but the CIA torture tempest has never been uppermost in my mind.

The Senate Select Intelligence Committee report on the C.I.A.’s interrogation-and-detention program during the Bush era, just like the torture furor that erupted at the time, is nothing more than a foil and a fig leaf; a cover for complicit journalists, jurists, politicians and pointy heads, who all skirted the real issue:

In invading Iraq and vanquishing an innocent people—Bush, Cheney, Clinton, Kerry and the gonzo journos who backed them absolutely, prosecuted an illegal, immoral and calamitous war. Torture is a subspecies of a larger crime. Fussing about it in this context is like harping on a murderer’s traffic violations.