Liberty Maven

Rand Paul was interviewed on Fox Radio’s Brian and The Judge show this morning. Once again Rand demonstrates his ability to be a future leader for the Republican Party. The big question is will the neo-con wing of the GOP welcome or shun him?

In many re-branding efforts a new mission statement is derived. My choice for a re-branded GOP: The Free Country Project. The mission could also be worded in this way, “Do the polar opposite of whatever Lindsey Graham suggests.”

I apologize to the wonderful Free State Project for bastardizing their efforts with such a suggestion, but I am quite serious. Instead of putting energy into calling the Obama administration socialists why not abandon the petty, kindergarten-style, partisan bickering and look within? Come up with a new 1994-style “Contract With America” but this time don’t renege on the contract. It should not be called anything similar to “Contract With America” though. Yes, that bad taste is still lingering.

Dubbing it “The Free Country Project” and making more than a half-assed effort to bring libertarianism back into the GOP could be a winning formula. Of course, many will have to tuck their neo-con tails between their legs and embrace Ron Paul and his libertarian friends. I’m not talking about a macho homophobic half-hearted embrace here. I’m talking about a full-on bear hug that will make gawkers worry about dropping the soap in the GOP country club shower.

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Rand Paul has put up a new video at RandPaul2010.com dispelling all the myths regarding his first name. He also discusses being a fan of Ayn Rand and a few of his favorite books.

I think it’s a great idea for Rand to release videos like these. In doing so he becomes more than just Ron Paul’s son. We get to know him as an individual rather than through his father. Hopefully these “get to know me” style videos continue.

Rand Paul is scheduled to be on the Brian and The Judge show on Fox News Radio during the 9am (Eastern) hour. He is also scheduled to be on with the Judge on Freedom Watch this afternoon at 2pm with several other freedom loving guests.

Ron Paul says he wants to abolish Federal Reserve System.  Well, the title of his latest Texas Straight Talk column, “Audit the Fed, Then End It!” mentions it, even if the body of his article doesn’t really.  But Dr. Paul has mentioned it a number of times throughout his career.  For example:

…I also want to abolish the Federal Reserve…. The value of our dollar and the level of our interest rates are not supposed to be manipulated by a few members of the power elite meeting secretly in a marble palace….Without the Federal Reserve, our money could not be inflated at the behest of big government or big banks.  Your income and savings would not lose their value.

– Ron Paul, 2002

He is also putting his weight behind Senate Bill 604, the Federal Reserve Sunshine Act of 2009, which is quite similar to his own HR1207, which has 165 cosponsors as of this writing.

Read Ron Paul’s weekly article, in which he addresses the bill’s detractors:

I have been very pleased with the progress of my legislation, HR 1207, which calls for a complete audit of the Federal Reserve and removes many significant barriers towards transparency of our monetary system. This bill now has nearly 170 cosponsors, with support from both Republicans and Democrats. Senator Bernie Sanders has introduced a companion bill in the Senate S 604, which will hopefully begin to gain momentum as well. I am very encouraged to see so many of my colleagues in Congress stand with me for greater transparency in government.

Some have begun to push back against this bill, and I am very happy to address their concerns.

The main argument seems to be that Congressional oversight over the Fed is government interference in the free market. This argument shows a misunderstanding of what a free market really is. Fundamentally, you cannot defend the Federal Reserve and the free market at the same time. The Fed negates the very foundation of a free market by artificially manipulating the price and supply of money – the lifeblood of the economy. In a free market, interest rates, like the price of any other consumer good, are decentralized and set by the market. The only legitimate, Constitutional role of government in monetary policy is to protect the integrity of the monetary unit and defend against counterfeiters. [Continue]

By now I’m sure you’ve seen the two video clips (here’s the latest) of Lindsey Graham unnecessarily attacking Ron Paul and libertarianism in general. It is odd for Graham to do such a thing unless he feels threatened by Paul. So I take it as a good sign that he is doing so. It is also a good sign that there are people out there, even in Graham’s home state of South Carolina willing to embrace the libertarian label like Mark Sanford as he does when questioned about “libertarianism”.

Lindsey Graham represents the GOP in a death-ward spiral. He is at the point of kicking, screaming, and clawing his way out of the Republican pit of despair. To really illustrate how the Grahams of the GOP operate see the video below. The sad thing is that this kind of behavior is no longer surprising. It is expected. This is the giant wall those that are trying to rebrand the GOP with the same old neo-con leaders are up against. The GOP should take Stephen Gordon’s advice and embrace libertarians of all stripes, otherwise the Grand Old Party may be destined to be the Tired Old Party by 2012.

The more I hear from Rand Paul the more I like his approach to politics. Today I enjoyed listening to his lengthy interview with Scott Horton (antiwar.com) from last Friday. Listen to it here.

Horton certainly gave Ron Paul’s son a bit of a grilling on foreign policy, torture, and even asked him about nepotism. In the very little bit I’ve heard from the younger Paul I detect a concerted effort to frame the foreign policy/war debate into focusing on strong defense.

There are some who will balk at his position on whether to prosecute those who authorized torture from the Bush administration. Also, saying he would have voted to go into Afghanistan may turn some of the antiwar people off.

It’s difficult not to desire immediately comparing him to his father. We all want to know on what positions he differs with his father. As more and more of these interviews occur the differences (if any) will become apparent.

For now it seems that he’s trying to position himself as a “strong defense” guy on foreign policy. His father was positioned as the “bring them home” guy. The former is more likely to be more palatable for potential voters in a Republican primary in Kentucky.

I don’t believe the son is any different than the father when it comes down to their positions on foreign policy, but the words chosen while speaking with voters matter a great deal.

Rand Paul represents a potential evolution to the revolution.

Daniel Hannan once again talking too much sense on bailouts…

And the fact that Parliament is ignoring several failed referendums regarding a new Constitution…

The GOP in America could use a guy like Hannan right now.

D o w n s i z e r – D i s p a t c h

Quote of the Day: “Security is mostly superstition.” — Helen Keller (1880-1968)

But we were right.

Recently, many said we were wrong to oppose the TARP bailouts. It was a crisis after all. Sadly, our fear that TARP would be the proverbial camel’s nose in the tent, seems also to be coming true. Get this…

A trucking firm, YRC Worldwide, has applied for a TARP bailout (see the third item in this linked blog post).

Will they get the $1 billion they’re asking for? Many say no, but we’re not so sure. Here’s why…

YRC’s problem is its union pensions, not its trucking business. The Wall Street Journal says “roughly half of YRC’s contributions to a multi-employer union pension fund cover the costs of retirees who never worked for the Overland Park, Kan., company.” This matters because…

The Democrats, like the Republicans, work for big special interests. Unions are among the most important clients Democratic politicians have. So you can expect the Democrats to bailout unions, just as the Republicans wanted to bailout banks.

We’re not taking sides. Many bad decisions have been made by all the BIGS — big business, big labor, and big government, but . . .

YOU shouldn’t have to pay for any of those mistakes! Instead…

The politicians need to let the bankruptcy process do its curative work. This process wouldn’t necessarily . . .

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“What can I do to protect my family?” – Arthur Burns, Federal Reserve Chairman, 1978

by Jake Towne, the Champion of the Constitution
Originally published Sunday, May 17, 2009 at http://www.nolanchart.com/article6430.html

The following is a message from Alan Greenspan’s “vaunted Federal Reserve” to the “Average Man.”  (Hat-tip to LeMetropoleCafe.com for the lead.)  (photo)

On January 17th, 1978, Federal Reserve Chairman Arthur Burns stated from the meeting transcript (emphasis mine):

“You know, the American public, in contrast to some or many of our politicians–perhaps most of them–is very deeply concerned about inflation. People all over the country have been asking themselves the question:

“The average man is also capable of judging neighborhoods. All he has to do is get into an automobile or walk and he can locate areas where the prospect of maintaining good conditions in the neighborhood or some improvement are pretty good over the next ten years or twenty years. People can do that. And they’re doing it in increasing numbers. It’s surprising to me. I hear it from college professors; I hear it from young people; I hear it from my own children.”

“What can I do to protect my family? What can I do to protect my children, my family, and myself against the ravages of inflation? And gradually the thought has evolved and is spreading rapidly that, on the negative side, putting money in the bank or a savings and loan account is no protection.

“What will he turn to? Well, there is farm real estate, a remarkable record there. But the average man doesn’t know how to buy farm real estate. He realizes that location can make an enormous difference. But there’s one thing the average man is capable of doing. If he doesn’t have a home, he can buy a home. If he already has a home, he can buy another.

“Buying bonds, Treasury bonds or corporate bonds, is no protection. Buying common stocks is no protection. It used to be a major protection but it no longer is.

“Then what is left? Well, gold or paintings. But the average man cannot invest in gold; he doesn’t know how. It’s not something he’s accustomed to. Likewise with paintings.

Frankly speaking, Chairman Burns is either something of a simpleton or quite the deceiver, much the same as I when I proved his current successor, Ben Bernanke is a liar in “Bernanke’s Great Lie – The “Gold Standard” and the Great Depression (PART 2/2).”  Why?

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In a rebuttal to a recently published article in Forbes magazine Ron Paul uses the opportunity to plainly educate the masses regarding the Federal Reserve.

This article should be required reading for every single person in America. Unfortunately, only those who subscribe to Forbes and read it online will have the chance to see it. The unsupportive article by Tom Cooley (of Ron Paul’s HR1207 to audit the Federal Reserve) because the Fed should be “boring” left me a bit puzzled. I’m glad there are at least 165 lawmakers on Capitol Hill who support a Fed audit, with more likely to come.

Read the full Ron Paul article here. Below is an excerpt.

The Federal Reserve’s recent and unprecedented actions in the realm of monetary policy have provoked a backlash among the American people. Trillions of dollars worth of loans and guarantees have been provided to Wall Street firms, while Main Street Americans suffocate under harsh taxation, the prospect of higher debt levels and increasing inflation. These events have awakened many Americans to problems with the Fed’s loose monetary policy, the bubbles it has created in the past and the potential hyperinflation it might cause in the future.

One of the fallacies of modern economics is the idea that a central bank is required in order to keep inflation low and promote economic growth. In reality, it is the central bank’s monetary policy that causes inflation and depresses economic growth. Inflation is an increase in the supply of money, which in our day and age is directly caused or initiated by central banks. All other things being equal, inflation results in a rise in prices. A so-called “mild” rate of inflation of 3% per year leads to a 56% rise in prices over a 15-year period. Even a “low” rate of inflation of 2% per year leads to a 35% rise over that same period. How is that conducive to long-term growth?