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1
Until we know what they don't report, which is the reason most stay in the profession, this is nothing more than campaign rhetoric aimed at the sheeple by the vote buyers. 

 

2
Golden Oxen Newz / Re: Golden Oxen's Newz Channel - Venezuela
« on: April 30, 2019, 05:10:55 AM »
Dear Readers, Things in Venezuela are getting messy and seem to be drawing towards s a possible violent conclusion.

Whatever the case it is a trouble spot not getting the press attention it deserves IMO.

Venezuela's Guaido Takes to Streets in Military Uprising

Venezuelan opposition leader Juan Guaido has taken to the streets with detained activist Leopoldo Lopez and a small contingent of heavily armed soldiers in a military uprising.


                             

https://www.usnews.com/dims4/USNEWS/bcb5e3c/2147483647/thumbnail/970x647/quality/85/?url=http%3A%2F%2Fcom-usnews-beam-media.s3.amazonaws.com%2Fee%2Ff29e074abf5b2f0f77fdae82a7f67a%2Fmedia%3A58aea39f93914ecd81d3e94407215770Venezuela_Political_Crisis_13008.jpg :icon_study: :icon_study: :( :(

3
This is an appeal to authority argument. It is only this gents opinion. 

4
Marathon Man Newz / Re: Noam Chomsky Explains American Politics
« on: April 30, 2019, 04:16:08 AM »
This is an appeal to authority argument. It is merely Chomsky's opinion.

5
Education / Re: Quotes Thomas Sowell
« on: April 29, 2019, 05:57:55 AM »
Good morning Diners, Thought I would start the day with something different, from our too long dormant Education thread,  some quotes from a most distinguished educator. 

This is an Appeal to Authority argument, and moreover it is just the opinion of TS. 

Appeal to authority is a common type of fallacy, or an argument based on unsound logic. When writers or speakers use appeal to authority, they are claiming that something must be true because it is believed by someone who said to be an "authority" on the subject.

As such, it carries no weight on the Diner. -1 Points in the Grand Debate.

RE

I made no such claims. I presented the gents quotes, and noted he was a most distinguished educator.

Of course  his quotes are his opinions, what did you think I thought they were??  :icon_scratch:

Forget about your dislike of his opinions and check his resume. He is, as stated a most distinguished educator.

As to your grading of me, it's a demonstration of your view that you are an authority, let me assure you that it is merely, as you state of Mr Sowell, your opinion.

6
Education / Quotes Thomas Sowell
« on: April 29, 2019, 04:49:47 AM »
Good morning Diners, Thought I would start the day with something different, from our too long dormant Education thread,  some quotes from a most distinguished educator. 
 
"We seem to be moving steadily in the direction of a society where no one is responsible for what he himself did but we are all responsible for what somebody else did, either in the present or in the past."

"Too many journalists see their work as an opportunity to promote their own pet political notions, rather than a responsibility to inform the public and let their readers and viewers decide for themselves."
 


"Those who are always accusing people in the private sector of ‘greed’ almost never accuse government of greed, no matter what it does."

"When someone tries to lay a guilt trip on you for being successful, remember that your guilt is some politician's license to take what you worked for and give it to someone else who is more likely to vote for the politician who plays Santa Claus with your money."



"The fundamental difference between equal treatment and equal performance is repeatedly confused. In performance terms, virtually no one is equal to anyone. The same individual is not even equal to himself on different days."



“I cannot understand people who say that minorities should be represented everywhere and yet are upset when there are blacks represented in the conservative movement.”


"You cannot subsidize irresponsibility and expect people to become more responsible."




"Much of what is promoted as 'critical thinking' in our public schools is in fact uncritical negativism towards the history and institutions of America and an uncritical praise of the cultures of foreign countries and domestic minorities."

“Anyone who studies the history of ideas should notice how much more often people on the political left, more so than others, denigrate and demonize those who disagree with them — instead of answering their arguments.”



                                       


                                                                                                           


7
Knarfs Knewz / Re: Knarf's Knewz Channel
« on: April 27, 2019, 07:09:45 AM »
"Picking winners" applies only to when government attempts to reorder priorities that fail to favor the winners already picked, such as the fossil fuel and defense contracting industries.

They sound like crows when they open their beaks.

In your world perhaps, not mine.

They sound like scientists to me trying to arrive at the truth by supplying facts from the latest research on complex matters. 

Sorry it's such a cacophonous sound to you.

8
The multi-colored placard in front of a $2-million home in North Center Chicago proudly proclaimed, “In this house we believe: No human is illegal” – and “Science is real” (plus a few other liberal mantras).

I knew right away where the owners stood on climate change, and other hot-button political issues. They would likely tolerate no dissension or debate on “settled” climate science or any of the other topics.

...

The rest of us are tired of being made guinea pigs in their totalitarian experiments.

Paul Driessen is senior policy advisor for the Committee For A Constructive Tomorrow (CFACT) and author of articles and books on energy, environmental and human rights issues.

https://townhall.com/columnists/pauldriessen/2019/04/27/fake-climate-science-and-scientists-n2545464

Uh-huh. For a moment I thought MKing had returned. The characteristic tone of mockery seemed a tell.

Re "CFACT:"

The Washington-DC-based Committee for a Constructive Tomorrow (CFACT) is a tax-exempt 501(c)(3) organization founded in 1985 by David Rothbard and Craig Rucker to pursue a free-market approach to environmental issues. CFACT describes their mission as “relentlessly infusing the environmental debate with a balanced perspective on environmental stewardship.” [1]

According to their website, “Its co-founders, David Rothbard and Craig Rucker, believed very strongly that the power of the market combined with the applications of safe technologies could offer humanity practical solutions to many of the world’s pressing concerns.” [1]

In 1989, Craig Rucker and David Rothbard approached the Chemical Manufacturers Association (CMA) requesting “corporate involvement and support.” According to CMA's documents, CFACT was established to “fight the Public Interest Research Groups (PIRG) and Ralph Nader-type organizations.” [42]

SourceWatch also describes CFACT as the conservative answer to U.S. Public Interest Research Groups such as NYPIRG, ConnPIRG, and other progressive organizations lobbying for environmental issues. [23]

The Committee for a Constructive Tomorrow was highlighted in a paper by Yale University's Dr. Justin Farrell. Farrell’s paper, “Corporate funding and ideological polarization about climate change,” was published in the Proceedings of the Naitonal Academy of Sciences in 2015. It includes a list of 164 organizations who are part of the “climate counter-movement,” as well as which of these groups have received funding from ExxonMobil or the Koch brothers (CFACT has received funding from both). [37], [38]

Note that while ExxonMobil has donated over $582,000 to CFACT over the years, the oil company reports that it no longer funds the organization. [6], [46]

https://www.desmogblog.com/committee-constructive-tomorrow

I'll buy "relentless." More libertarian claptrap declaiming "free-market solutions" for the problems their funders create. Or, in other words, a fox for every henhouse.

Oh, and full disclosure: that sign Driessen makes bold to mock? I have one in front of my house.


americanthinker.com
Those Filthy Teslas
By Monica Showalter


    When the CO2 emissions from battery production is included, electric cars, like Teslas, are “in the best case, slightly higher than those of a diesel engine, and are otherwise much higher,” reads a release from the German think tank IFO.

Here are a pair of tweets:

     
     

So it turns out the $35,000-at-the-low-end cars for rich people, rolling down places like Wilshire Boulevard in Beverly Hills to virtue-signal all that greenness, courtesy of taxpayer subsidies and a $7,000 tax credit, are really rolling filth machines, dirtying up the air much worse than the average Joe buying his pudknocker Mercedes. Far from virtue-signalling green, they ought to be pointed at as Jed Clampett-style Beverly Hillbillies polluting clunkers. IFO found that when you calculate the pollution cost of just manufacturing the electrical green car's giant battery, the scale tips toward dirtier-than-thou, not a cleaner-than-thou, car.

And the Journal notes that these cars, in Germany, which is failing to meet its virtue-signalling Paris climate targets up the wazoo, (unlike the U.S.), are heavily subsidized as well.

    Berlin for years has offered thousands of euros in subsidies to electric-car buyers to get a million of them on the road. The European Union lets manufacturers claim an implausible zero emissions for electric cars under its strict emissions limits. They may have this exactly backward in some European countries.

    These subsidies and exemptions inevitably divert consumer euros and corporate investment toward electric vehicles no matter their true environmental impact.

 No kidding.

What a fraud this whole rich man's plaything is. And somehow, we don't hear cries of 'tax the rich!' from leftist politicians over this pollution imposition on us. Rich leftists are dirtying our air so they can virtue-signal to us -- and they're making us pay for it, too.

Bastasch notes that Congress is actually considering extending the electrical car tax breaks, so the virtue-signallers can keep their status symbols. Get ready for more pollution, then. Such a fraud.

A Tesla Model 3 emits more carbon dioxide emissions than a Mercedes C220d diesel sedan, according to a new study by German think tank IFO. That's right, the supposedly 'green' electric car of the future so touted by the wealthy virtue-signalers, is actually filthier than your garden variety diesel-powered sedan.

The Wall Street Journal has an editorial about it, and the Daily Caller has some additional context. DC's Michael Bastasch lays it out with:

    When the CO2 emissions from battery production is included, electric cars, like Teslas, are “in the best case, slightly higher than those of a diesel engine, and are otherwise much higher,” reads a release from the German think tank IFO.

So it turns out the $35,000-at-the-low-end cars for rich people, rolling down places like Wilshire Boulevard in Beverly Hills to virtue-signal all that greenness, courtesy of taxpayer subsidies and a $7,000 tax credit, are really rolling filth machines, dirtying up the air much worse than the average Joe buying his pudknocker Mercedes. Far from virtue-signalling green, they ought to be pointed at as Jed Clampett-style Beverly Hillbillies polluting clunkers. IFO found that when you calculate the pollution cost of just manufacturing the electrical green car's giant battery, the scale tips toward dirtier-than-thou, not a cleaner-than-thou, car.

And the Journal notes that these cars, in Germany, which is failing to meet its virtue-signalling Paris climate targets up the wazoo, (unlike the U.S.), are heavily subsidized as well.

    Berlin for years has offered thousands of euros in subsidies to electric-car buyers to get a million of them on the road. The European Union lets manufacturers claim an implausible zero emissions for electric cars under its strict emissions limits. They may have this exactly backward in some European countries.

    These subsidies and exemptions inevitably divert consumer euros and corporate investment toward electric vehicles no matter their true environmental impact.

 No kidding.

What a fraud this whole rich man's plaything is. And somehow, we don't hear cries of 'tax the rich!' from leftist politicians over this pollution imposition on us. Rich leftists are dirtying our air so they can virtue-signal to us -- and they're making us pay for it, too.

Bastasch notes that Congress is actually considering extending the electrical car tax breaks, so the virtue-signallers can keep their status symbols. Get ready for more pollution, then. Such a fraud.

                                 

 Germany’s Dirty Green Car

Berlin and Brussels stifle innovation by picking ‘winners.’


Germany’s worst industrial scandal in recent memory arrived when auto companies fiddled with emissions tests to make diesel cars seem greener than they are. Now a new study suggests that electric cars touted as a diesel alternative also aren’t so great for the environment.

A study this month by the IFO think tank in Munich found that a popular electric car releases more carbon dioxide into the atmosphere than a comparable diesel engine. The authors compared CO2 output for a Tesla Model 3 and a Mercedes C220d sedan. They calculated that the diesel Mercedes releases about 141 grams of carbon dioxide per kilometer driven, including the carbon emitted to drill, refine and transport its fuel. The Tesla? Between 156 and 181 grams.

The main Tesla problem—and subject of a long-running debate—concerns the CO2 emitted to manufacture the battery. The IFO report pegs this at between 73 and 98 grams per kilometer, assuming a 10-year battery life at 15,000 kilometers of driving per year.

The other problem with electric cars is Germany’s growing reliance on coal for electricity generation. The country’s ruinously expensive energy policy has stimulated renewable electricity but also reliance on coal plants to keep the lights on when the wind isn’t blowing and the sun isn’t shining. This heavy-emitting fuel mix means that charging a Tesla in Bavaria releases some 83 grams of carbon per kilometer driven.

This isn’t a universal condemnation of electric cars, which may emit less carbon in countries such as France that rely heavily on nuclear power. It’s better read as a warning that new technologies aren’t a climate-change panacea. Recall the false promises about corn and cellulosic ethanol.

Berlin for years has offered thousands of euros in subsidies to electric-car buyers to get a million of them on the road. The European Union lets manufacturers claim an implausible zero emissions for electric cars under its strict emissions limits. They may have this exactly backward in some European countries.

These subsidies and exemptions inevitably divert consumer euros and corporate investment toward electric vehicles no matter their true environmental impact. Better to heed the report’s authors, who suggest allowing room for a range of possible auto technologies to blossom and compete.


  https://www.wsj.com/articles/germanys-dirty-green-cars-11556057770?emailToken=a355bbe7cee18b80da79ec2f5a8819e2EJvzWJ3XxKEshoui47KmL4j4 dBnZsk ToKwC5ZaxmwqygwcMgpXbaZcHHg9IJqpTFoqr1jaTg/ZeZpzpH6DVQ==&reflink=article_email_share  :icon_study: :icon_study:

9
Economics / Re: Subprime Student Loans
« on: April 27, 2019, 04:56:26 AM »
A student loan is an investment in one's self. It follows the same rules as any other investment...do it wisely.

I imagine most borrowers don't think about it that way, and even if they do, they aren't objective as to the risk adjusted value of that investment.

Hi Buddy J, pleasure to meet you.

You are correct of course when talking about adults or even young adults but wise investing is not the stuff one can expect of youth.

Nice to meet you as well.

And it depends on the youth I imagine.

Quote from: Golden Oxen
My personal take is that the propaganda being heaved at these kids, the idea that if you don't go to college you will surely grow up to be a zero, poor, and unable to appreciate the good life from your perch on the back of a garbage pick up truck is very persuasive to youngsters who a very impressionable and look to their elders and peers for guidance.

I've seen more a correlation with what the parents do for a living. In families with college educated parents, it does appear to be common. In families without college educated parents, it seems like it isn't as common.

Purely personal observation.

Oh Yes, Please don't get me wrong. I'm not a Commie; well aware there are smart kids, extremely bright. We may be able to agree however, that they are a small minority. Most know nothing about wise investing in their sixties is my personal observation. 

Then there is the myriad of moral arguments to consider as well on this topic.

"Neither a Lender or Borrower Be"

10
Marathon Man Newz / Re: Remembering a Hate Crime
« on: April 26, 2019, 10:07:57 AM »
This is a bit ridiculous... a couple a white guys reminiscing bout how racist our country was and still is. The latter is nonsense.

I was an Indian high school kid in Richmond VA when 9/11 happened, and even then the racist remarks were few and far between. Of course they are easier to remember than the millions of pleasant, respectful interactions I had with white people.

There was actually more racism coming from blacks towards brown people at that time, but still nothing compared to the institutional racism of 50-100 years ago, or the racism that still continues in other parts of the world. It's not even in the same Universe.

Makes my point about the white supremacy being a weird subset of the population who have been indoctrinated in some way, and it not being a common thing.

Racism, aka tribalism, is a part of human nature. But real white supremacy is a fringe behavior. It's pathological, and it is far from common among the white people I have known. But it gets a whole lot of press, and it's a driver in politics.

What is ridiculous is a couple of guys in gate-kept professions, punching down extremely healthy six figure incomes,  talk about how racism doesn't exist in the comfortable 'burbs, and how anyone who asserts that it does is a "far-left tribalist."

Racism may not exist in your gated communities, but let me assure you that it does as soon as you leave the cities.

I am so grateful to know that the happy days of color-blind racial equity have arrived.

No one said racism doesn't exist. In fact we said it must exist due to the intrinsic tribal nature of humans.

The problem is when you try to make it a defining feature of the United States (or Canada). And when every little action or statement by white people is used as evidence of widespread racism against people of color.

I get why you think this way. You are firmly in the postmodern neomarxist camp - you think it is impossible for people of "privilege" to ever understand the power dynamics, whether that privilege be in the form of race, gender, wealth or some combination of those. You think those identities govern what people are capable of understanding and that people who are privileged will always make arguments to that defend their privilege, perhaps without even realizing what they are doing.

Except of course if they are woke like you. This is how you evaluate evidence and arguments - if it doesn't support the view of systemic oppression by men, whites and the wealthy, it must be flawed, and the people making the arguments must be blind to the flaws because of some personal bias. Needless to say, this is a horrible way of evaluating evidence and arguments. It is confirmation bias to the extreme, an endless echo chamber.

What I find annoying is the lack of praise given successful people for their hard work and determination.

According to both RE and Surly as well as many others of their persuasion anyone wealthy and successful owes their circumstance to White Privilege, if their white. If of a different race it's hard work and perseverance that got them there and a battle against the White's who tried to keep them down.

C'mon lads, it's 2019, that nonsense went out decades ago. Sure, there are still many instances of it, and yes the Democrats were also known as the segregation party. It's all stale has been bullshit now used as excuses for bad decisions and failure, not the worse things in the world if you learn from them, but this racism and White privilege bull shit has got to stop. It's the US and it's 2019.

                             

11
Spirituality & Mysticism / Fishing
« on: April 26, 2019, 05:41:01 AM »
“Many men go fishing all of their lives without knowing that it is not fish they are after.” 
-Henry David Thoreau

               

                                         Fishing - Childe Hassam 1896

12
Economics / Re: Subprime Student Loans
« on: April 26, 2019, 04:13:07 AM »
A student loan is an investment in one's self. It follows the same rules as any other investment...do it wisely.

I imagine most borrowers don't think about it that way, and even if they do, they aren't objective as to the risk adjusted value of that investment.

Hi Buddy J, pleasure to meet you.

You are correct of course when talking about adults or even young adults but wise investing is not the stuff one can expect of youth.

Peer pressure is a most important factor in this equation as is a government seeking control and deciding what is best for it's citizenry. Then there is the bankster element which views it as an excellent idea, the usury attached to the concept being irresistible to the Shylock.

My personal take is that the propaganda being heaved at these kids, the idea that if you don't go to college you will surely grow up to be a zero, poor, and unable to appreciate the good life from your perch on the back of a garbage pick up truck is very persuasive to youngsters who a very impressionable and look to their elders and peers for guidance.

Actually, many like myself consider it criminal exploitation because there is money and usury involved rather than just an opinion.

Being a gold bug also causes me grief in this matter as well, watching the evils of unlimited credit and fiat being created to foster this scam on many of our youth but gold and fiat are another topic.

                                   



 

13
                           

 Judy Shelton Is Right Nominee for the Fed
                         -Editorial of The New York Sun | April 22, 2019

President Trump was understandably reluctant to accept Herman Cain’s request to drop out as a candidate for the Federal Reserve board. He faced the reality of senatorial spinelessness. Four Republicans had indicated they’d shrink from voting for the former chairman of the Kansas City Fed, at least in part over allegations of long-ago sexual improprieties. They didn’t even wait for a hearing.

The good news is that there is an ideal candidate, the economist Judy Shelton. We had no quarrel with Mr. Trump’s choice of either Stephen Moore or Mr. Cain; they both would be fine governors. Mr. Moore still faces a revolt from the economists’ guild, the geshrai from which, John Tamny has argued, underscores the logic of Mr. Moore, who seems to still be in the running.

Yet even before Mr. Trump announced his plan to nominate either Mr. Moore or Mr. Cain, we’d issued an editorial calling Ms. Shelton “Trump’s Ideal Nominee for the Fed.” She’s an economist and holds a Ph.D. in business. Her main qualification, though, is that over the years she has published a brilliant critique of our monetary policy.

This has unfolded on, among other places, the op-ed pages of the Wall Street Journal, where, during the Great Recession, Ms. Shelton emerged as an advocate of the idea that our economic troubles spring in large part, if not exclusively, from the fiat nature of our currency. And that, as we put it in February, we need to bring back into our political economy the idea of sound money.

The kind of thing that makes us think of Ms. Shelton as so particularly ideal is an op-ed the Wall Street Journal issued arguing that currency manipulation is, just as Mr. Trump warned during the campaign, a real problem. She suggested that defenders of our current “global rules-based trading system” should be “wary of thinking their views are more informed than President Trump’s.”

The president, Ms. Shelton wrote, may have been “branded a protectionist” who is thereby “incapable of exercising world leadership.” Yet those who embrace the virtues of global free trade “disregard the fact that the ‘rules’ are not working for many American workers and companies.” Her long paper trail makes clear she understood that even before Mr. Trump got elected.

Ms. Shelton’s latest opus is out in the Journal this morning under the headline “The Case for Monetary Regime Change.” It notes that since Mr. Trump nominated Messrs. Cain and Moore to the Fed board, commentators have dismissed anyone sympathetic to a gold standard as what she called crankish and unqualified. But, she argued, it is “wholly legitimate” to question the infallibility of the Fed.

“No other government institution had more influence over the creation of money and credit in the lead-up to the devastating 2008 global meltdown,” she wrote. “And the Fed’s response to the meltdown may have exacerbated the damage by lowering the incentive for banks to fund private-sector growth.” She sketched how, even now, $1.5 trillion is “parked” in Federal Reserve district banks.

Ms. Shelton addressed the recent jibe by one of President Obama’s nominees to the Fed, Governor Lael Brainard, about how Mr. Trump’s nominees would need to advance “fact-based, intellectually coherent arguments that are based on evidence, that are consistent over time.” Ms. Shelton suggested the Fed start with a paper called “Reform of the International Monetary and Financial System.”

Issued by the Bank of England in 2011, it concludes that, as Ms. Shelton put it, today’s system has performed poorly relative to prior monetary regimes. She also suggested a look at the Obama administration’s 2015 Economic Report of the President, which, Ms. Shelton noted, “highlights the growth in middle-class incomes during the Bretton-Woods system of fixed exchange rates.”

Ms. Shelton argues that “intellectually fair-minded people should be able to debate the pros and cons of alternative monetary approaches without rancor.” No less a figure than Paul Volcker has argued that “the absence of an official, rules-based, cooperatively managed monetary system has not been a great success.” Now’s the time to elevate to the Fed those like Ms. Shelton with the vision to chart the road to reform.

https://www.nysun.com/editorials/the-right-nominee-for-the-fed/90659/  :icon_study: :icon_study: :icon_study:

                                 
                                   



                                                                                         

Now that might be interesting. But you might have noticed that Greenspan was a goldbug both before and after his tenure, but not during.

It's like when you get elected POTUS and they take you into a back room and tell you how it's gonna be...and you listen if you're smart. When you get to be a Fed Governor they seem to do something similar. Maybe you have to kiss the ring of a Rothschild and pledge allegiance to Satan.

Have you heard about the Greenspan musical?

<a href="http://www.youtube.com/v/NJYF3-tHboI&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/NJYF3-tHboI&fs=1</a>

Yes, of course. Power corrupts almost assuredly which is why I'm a Libertarian. Only the dim would appoint a dozen or so imbeciles or academics, whichever one chooses is fine, to try and central plan an economy, especially one with over 300 million people. The very idea is laughable and that is due to the size of their brains to say nothing of the influence peddlers that come their way daily.

What I liked about the lady was her idea of having an open free debate on the matter, lacking in rancor and dealing with factual data with the starting point of such being a paper written on monetary reform emanating from England.

This is my idea of the way to approach the subject, a debate with serious input from all interested parties.

Let me assure you as well that this will do nothing to wake the Dim from their slumber. They will not know, participate or otherwise have the slightest interest in such a mundane topic.

My hope is that it will reach the youngsters and younger adults among us who have a brain and play close attention to these important matters of the Financial universe. A very tiny group.  Goldbugs, let me assure you, have no dream of fixing stupid; only in presenting our case to a wide enough audience to bring a few more into the fold.

                                   




                 


                                                                               

14
                           

 Judy Shelton Is Right Nominee for the Fed
                         -Editorial of The New York Sun | April 22, 2019

President Trump was understandably reluctant to accept Herman Cain’s request to drop out as a candidate for the Federal Reserve board. He faced the reality of senatorial spinelessness. Four Republicans had indicated they’d shrink from voting for the former chairman of the Kansas City Fed, at least in part over allegations of long-ago sexual improprieties. They didn’t even wait for a hearing.

The good news is that there is an ideal candidate, the economist Judy Shelton. We had no quarrel with Mr. Trump’s choice of either Stephen Moore or Mr. Cain; they both would be fine governors. Mr. Moore still faces a revolt from the economists’ guild, the geshrai from which, John Tamny has argued, underscores the logic of Mr. Moore, who seems to still be in the running.

Yet even before Mr. Trump announced his plan to nominate either Mr. Moore or Mr. Cain, we’d issued an editorial calling Ms. Shelton “Trump’s Ideal Nominee for the Fed.” She’s an economist and holds a Ph.D. in business. Her main qualification, though, is that over the years she has published a brilliant critique of our monetary policy.

This has unfolded on, among other places, the op-ed pages of the Wall Street Journal, where, during the Great Recession, Ms. Shelton emerged as an advocate of the idea that our economic troubles spring in large part, if not exclusively, from the fiat nature of our currency. And that, as we put it in February, we need to bring back into our political economy the idea of sound money.

The kind of thing that makes us think of Ms. Shelton as so particularly ideal is an op-ed the Wall Street Journal issued arguing that currency manipulation is, just as Mr. Trump warned during the campaign, a real problem. She suggested that defenders of our current “global rules-based trading system” should be “wary of thinking their views are more informed than President Trump’s.”

The president, Ms. Shelton wrote, may have been “branded a protectionist” who is thereby “incapable of exercising world leadership.” Yet those who embrace the virtues of global free trade “disregard the fact that the ‘rules’ are not working for many American workers and companies.” Her long paper trail makes clear she understood that even before Mr. Trump got elected.

Ms. Shelton’s latest opus is out in the Journal this morning under the headline “The Case for Monetary Regime Change.” It notes that since Mr. Trump nominated Messrs. Cain and Moore to the Fed board, commentators have dismissed anyone sympathetic to a gold standard as what she called crankish and unqualified. But, she argued, it is “wholly legitimate” to question the infallibility of the Fed.

“No other government institution had more influence over the creation of money and credit in the lead-up to the devastating 2008 global meltdown,” she wrote. “And the Fed’s response to the meltdown may have exacerbated the damage by lowering the incentive for banks to fund private-sector growth.” She sketched how, even now, $1.5 trillion is “parked” in Federal Reserve district banks.

Ms. Shelton addressed the recent jibe by one of President Obama’s nominees to the Fed, Governor Lael Brainard, about how Mr. Trump’s nominees would need to advance “fact-based, intellectually coherent arguments that are based on evidence, that are consistent over time.” Ms. Shelton suggested the Fed start with a paper called “Reform of the International Monetary and Financial System.”

Issued by the Bank of England in 2011, it concludes that, as Ms. Shelton put it, today’s system has performed poorly relative to prior monetary regimes. She also suggested a look at the Obama administration’s 2015 Economic Report of the President, which, Ms. Shelton noted, “highlights the growth in middle-class incomes during the Bretton-Woods system of fixed exchange rates.”

Ms. Shelton argues that “intellectually fair-minded people should be able to debate the pros and cons of alternative monetary approaches without rancor.” No less a figure than Paul Volcker has argued that “the absence of an official, rules-based, cooperatively managed monetary system has not been a great success.” Now’s the time to elevate to the Fed those like Ms. Shelton with the vision to chart the road to reform.

https://www.nysun.com/editorials/the-right-nominee-for-the-fed/90659/  :icon_study: :icon_study: :icon_study:

                                 
                                   



                                                                                         

15
They wonder why we are Doomers. Seeing those beautiful white eggs engulfed in garbage is not easy to forget.   :'(

Amsterdam white swans made a nest of garbage in an Amsterdam canal.    :-[

A swan family built their nest of waste at one of Amsterdam's canals. The garbage has been thrown in the canals by humans. Now these swans "recycled" the waste and built their nest of it and might raise 6 new chicks very soon, since I counted 6 eggs. But it is also very sad to see what we human's are doing with our garbage and that these swans became a tourist attraction in Amsterdam. - Ton Dijkman


                                             <a href="http://www.youtube.com/v/AubiRommz8o" target="_blank" class="new_win">http://www.youtube.com/v/AubiRommz8o</a>

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