Conservative/Libertarian radio talk show host (in Baltimore) Ron Smith passed away this week from pancreatic cancer. He was an outspoken supporter of Ron Paul. The article announcing his death included some audio excerpts, including one on the 4 year anniversary of 9-11. In it he quotes Vernon Howard:
Reality is immune to human fantasy
This truism is no more prevalent than now as we witness Ron Paul’s rise in the polls in both Iowa and New Hampshire to front runner status. All of the usual pundits in the usual media outlets are attempting to discredit a potential Paul victory in Iowa by calling it meaningless. This is irritating and predictable; however, it gets worse. The governor of Iowa has now joined in on this fantasy. From Politico:
Leading Republicans, looking to put the best possible frame on a Paul victory, are already testing out a message for what they’ll say if the 76-year-old Texas congressman is triumphant.
The short version: Ignore him.
“People are going to look at who comes in second and who comes in third,” said Gov. Terry Branstad. “If [Mitt] Romney comes in a strong second, it definitely helps him going into New Hampshire and the other states.”
What country do we live in again? This ain’t America…. not even the America I was taught about in public school. Discrediting an election (caucus) merely because you disagree with the results is something Hugo Chavez does. It is not something we do in America. At least I thought we didn’t. Do these Ron Paul detractors really believe this behavior is acceptable? If the majority (or plurality) of people in your state vote for someone you don’t like how can you say it doesn’t count?
This effort at undermining their own process by making these comments has more danger of discrediting the election than Ron Paul winning. Hopefully Iowans and others see through this poppycock and vote without its influence.
The reality of Ron Paul should be no match for those naysayers living in fantasy land calling him an anti-semite, racist, and worse. It seems to me that once your foes start calling you names rather than debate you on your positions then you’ve already won.
During Paul’s 2008 campaign I wrote that I didn’t think America was quite ready for Ron Paul. Here in 2012, America just might be ready for him and the harsh reality he brings. We are going broke. We need to cut spending. We need to cut taxes. We need to bring our troops home from overseas to defend this country. We need to end all foreign aid. Yes, including Israel. Give them back their sovereignty.
If you fear a Ron Paul presidency just take a deep breath, calm down, and read the Constitution. That’s his platform. If you still think he’s too extreme then realize that there are 2 other branches of government that will be operating to limit his extremism. That’s a major reason we have the judiciary and legislature, checks and balances. If any other candidate wins, nothing will change. We’ll keep going down the spending death-spiral to our own demise. I’m not a big fan of demise. I’m voting for Ron Paul. Are you?
Last night Ron Paul appeared on The Tonight Show with Jay Leno. As a big Ron Paul supporter it was surreal. Leno kept him on for 3 interview segments. Almost every single thing Ron Paul said was met with loud cheers. Comedian/Fear Factor Host/Podcaster Joe Rogan was Leno’s next guest. He came out wearing a Ron Paul shirt. Leno asked Joe, “What part of his [Ron Paul's] platform do you like?” Rogan replied, “Every single thing that comes out of his mouth. I go yeah, YEAH, FINALLY!”
This was not just an appearance on a late night talk show. This was a Ron Paul campaign rally.
During the final interview segment with Paul, Leno asked him his thoughts on the other candidates and went down the list by name. When he got to Bachmann, Ron Paul replied, “She doesn’t like Muslims. She hates Muslims. She wants to go get them.” This probably didn’t win him any neo-conservative supporters. Then he doubled down on this when he replied similarly about Santorum saying he doesn’t like “gay people and Muslims.” Wow. I can’t imagine that Santorum and Bachmann won’t issue a counter-attack soon.
This just further cements my point in previous articles. Ron Paul can and would beat Obama in the general election. His more difficult win is in the GOP primary.
During the appearance Twitter was about 99% positive about Ron Paul, including many tweets saying things like, “I wasn’t sure before, but now I’m definitely voting for Ron Paul.”
Now we can sit back and monitor how the pundits and other candidates react, if they react at all.
by Peter Schiff, CEO of Euro Pacific Capital, and host of The Peter Schiff Show, broadcasting live from WSTC Norwalk CT from 10am to noon Eastern time every weekday, and streaming at www.schiffradio.com
Herman Cain has been gaining much traction with his 9-9-9 Plan, a bold proposal to replace our dysfunctional tax code with what could be a simpler, less invasive, and more economically stimulative alternative. While I don’t agree with the full spectrum of Mr. Cain’s policy choices, I applaud his courage on the tax front. Judging by his rising poll numbers, this appreciation is widely shared. However, the plan has deep flaws, the most glaring of which is its creation of a hidden payroll tax which represents a fourth “nine.” This serious pitfall has been unmentioned by Mr. Cain and overlooked by those who have analyzed his plan.
Cain would replace the current system of income and payroll taxes with a 9% flat-rate personal income tax, a 9% corporate tax, and a 9% national sales tax. Great idea. Such a system would unburden businesses, provide a tax cut for most Americans, and shift taxation to consumption and away from income generation. This is exactly what our economy needs. But unlike our current corporate tax system, the plan eliminates the deductibility of wages and salaries from corporate income. The net effect is the creation of a brand new 9% tax on wages. When this fourth 9 falls from Cain’s sleeve, many of his opponents will likely accuse him of cheating.
On Tuesday, September 13, Peter Schiff, the CEO of Euro Pacific Capital, www.europac.net will testify before the House of Representatives Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending. The hearing entitled, “Take Two: The President’s Proposal to Stimulate the Economy and Create Jobs” will examine federal job creation efforts. Mr. Schiff, author of many best-selling books including “How an Economy Grows and Why it Crashes” is well known for his views on how federal regulatory activism and irresponsible monetary and fiscal policy is actively destroying jobs in America. The following statement from Mr. Schiff will be read into the Congressional Record this morning. Within a few days, video of the hearings will be available on the Committee’s website. Please feel free to excerpt or repost with the proper attribution and all links included.
How the Government Can Create Jobs
Testimony by Peter D. Schiff
Offered to the House Sub-Committee on Government Reform and Stimulus Oversight
September 13, 2011
Mr. Chairman, Mr. Ranking member, and all distinguished members of this panel. Thank you for inviting me here today to offer my opinions as to how the government can help the American economy recover from the worst crisis in living memory.
Despite the understandable human tendency to help others, government spending cannot be a net creator of jobs. Indeed many efforts currently under consideration by the Administration and Congress will actively destroy jobs. These initiatives must stop. While it is easy to see how a deficit-financed government program can lead to the creation of a specific job, it is much harder to see how other jobs are destroyed by the diversion of capital and resources. It is also difficult to see how the bigger budget deficits sap the economy of vitality, destroying jobs in the process.
In a free market jobs are created by profit seeking businesses with access to capital. Unfortunately Government taxes and regulation diminish profits, and deficit spending and artificially low interest rates inhibit capital formation. As a result unemployment remains high, and will likely continue to rise until policies are reversed.
On Monday, August 15, billionaire Warren Buffett argued in an op-ed for the The New York Times that his taxes should be raised. He claimed that giving the Federal State more of his money would be a good thing.
We disagree. We think Mr. Buffett’s investments do more social good than his taxes do. Here’s why…
None of Mr. Buffett’s companies use force to compel people to do business with them, but everything The States does relies on coercion. This automatically makes Mr. Buffett’s investments better than his tax payments. In addition….
Mr. Buffett’s companies must serve their customers, or go bankrupt. By contrast, Statist programs almost always receive increased budgets when they fail. Thus, businesses have an incentive to use resources wisely, while The State has incentives to waste resources. This is why money spent by The Coercive Sector (The State) tends to have less social utility than money spent by The Voluntary Sector (businesses and charities).
In short, businesses tend to be pro-social because they serve society, while The State tends to be anti-social, because it’s wasteful and coercive.
by John Browne, Senior Market Strategist at Euro Pacific Capital
The basic unwillingness of politicians to face economic and financial realities has caused the United States and European Union to face currency collapse. The politicians are content literally to paper over the problem with massive amounts of newly printed currency. This means that savvy investors, facing major real losses, are turning increasingly to gold. In essence, even though currencies are no longer on a gold standard, they are increasingly being “redeemed” for gold in the marketplace.
For decades, fiscally irresponsible US Administrations have gradually reduced the world’s richest nation, with a currency perceived as ‘good as gold,’ to the position of the largest global debtor, with a debased currency. Furthermore, US stock markets have offered little real return. Indeed, the Dow stands just below 11K, down over 3K points from its all-time high on October 9, 2009. Discounting for inflation shows a loss close to 4K points, or a fall of over 25 percent from its all-time high. Meanwhile, equities in emerging markets have often shown handsome returns.
The recent political wrangling in Washington has damaged the financial credibility of the United States, prompting a long overdue debt downgrade by ratings house Standard & Poor’s. This removes a fundamental pillar supporting the dollar as the global reserve asset of choice.
by Peter Schiff, CEO of Euro Pacific Capital, and host of The Peter Schiff Show, broadcasting live from WSTC Norwalk CT from 10am to noon Eastern time every weekday, and streaming at
As attention focuses intently on the negotiations to raise the debt ceiling, House Republicans have made a great show of drawing a line in the fiscal sand. They claim that they will not vote for any deal that includes tax increases to narrow the budget deficit. But we all know how the game works in Washington. With the 2012 elections looming the Republican bluster is merely a bargaining chip that they will quickly toss into the pot when they sense a political victory. In fact there are signs that such a compromise is already underway.
House Republicans already have the power to avoid tax hikes and force significant spending cuts. All they have to do is refuse to raise the debt ceiling under any circumstances. That’s it. At that point the only discussion would be where to find spending to cut.
But Republicans want to raise the debt ceiling just as much as Democrats, they just want to gain political advantage in the process. They have widely accepted the Democrat stalking horse that a failure to raise the ceiling will lead directly to economic Armageddon. No party wants to be held responsible for such an outcome. Even if the expected Armageddon does not come, the Republicans will be blamed for any problems that follow a no vote on the increase, regardless of the true cause. As a deal is in everyone’s political interest, I am convinced it will happen.
Many people hate corporations. Progressives and populists blame them for a host of sins, and several libertarians assert they couldn’t exist in their present form without the State. We at DownsizeDC.org oppose the crony capitalism of the Corporatist State, and we cringe whenever people assume our pro-free market philosophy is a “defense” of corporations.
That is why our new campaign is a “heresy.” What we propose may shock you, but we have good reasons.
Our position is that even if you hate corporations . . .
Abolishing corporate income taxes is in your self-interest.
These taxes are unproductive as revenue-generators, but what they really do is make politicians more powerful, at your expense.
by Peter Schiff, CEO of Euro Pacific Capital, and host of The Peter Schiff Show, broadcasting live from WSTC Norwalk CT from 10am to noon Eastern time every weekday, and streaming at www.schiffradio.com.
Today the U.S. government officially borrowed beyond its $14.29 trillion statutory debt limit. And even though the Obama administration has assured us that accounting gimmickry will allow the government to borrow for another few months, the breach has given seeming urgency to Congressional negotiations to raise the debt ceiling. Republicans are making a great show of acting tough by linking their “yes” votes with promises for future budget cuts (that could even slow the rate of debt increases at some uncertain point in the future). But as we go through the process, many novice observers may wonder why we have a debt ceiling at all when our government has never shown the slightest inclination to respect its prior self-imposed limits.
The ceiling was first imposed in 1917 as part of a deal that passed the Liberty Bond Act that funded America’s entry into the First World War. To make it easy for the Treasury to sell those bonds, Congress also amended the Federal Reserve Act to allow the Fed to hold government bonds as collateral. But given the potential for unchecked Federal deficits, Congress sought to limit taxpayer exposure to $11.5 billion.
Quote of the Day: “Liberty is the possibility of doubting, the possibility of making a mistake, the possibility of searching and experimenting, the possibility of saying “No” to any authority — literary, artistic, philosophic, religious, social and even political.” — Ignazio Silone (1900-1978) Source: The God That Failed, 1950
The politicians are trying to tax the Internet again. Let’s stop them.
Liberty Maven
by Peter Schiff, CEO of Euro Pacific Capital, and host of The Peter Schiff Show, broadcasting live from WSTC Norwalk CT from 10am to noon Eastern time every weekday, and streaming at 
by John Browne, Senior Market Strategist at Euro Pacific Capital
Loading ...
