GOLDBUG: What is a dollar?

Defend the Gold Standard
by Bob Murphy

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I don’t trust central bankers to stick to a gold standard; that’s why I think the government should get out of the money industry altogether. Suppose we were starting in an initial state of pure laissez-faire in money and banking, and someone said, “Hey I know! Let’s give this Princeton professor – what was your name, sir, was it Ben? – a printing press, but be very stern that he can’t overdo it and allow the gold price to rise more than 1 percent from the day he starts. Does that sound like a good idea?” In response, I would obviously say, “No, that seems rather risky. I think we should stick to the current system, where the market determines how much new money is brought into the economy through gold production.”

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We fall prey to these bozo bureaucrats when we let them mess with the money supply.

If we tie the value of a dollar to gold, then the Fed can’t just manufacture dollars out of thin air. And, congress critters can’t spend what they don’t take it.

It restores honesty to finances. It disciplines them into husbandry. It forces them to live with in OUR means.

After all in fiat currency, what is a dollar?

A toilet paper alternative?


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INTERSTING: RU Women give an inspiring performance

Rutgers Heads to Fifth Straight Sweet Sixteen, Routs Auburn 80-52
Scarlet Knights Will Take On Sixth-Seed Purdue on Sunday
Posted on 3/23/2009 10:09:30 PM

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PISCATAWAY, N.J. – Rutgers used a balanced scoring attack and a stifling defense en route to an 80-52 victory over Auburn in the second round of the 2009 NCAA Women’s Basketball Championship at the Louis Brown Athletic Center on Monday evening.

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Frau and I was there.

I like to think that I’m an “honest observer”.

For the first time in a long time, I think the taxpayers of New Jersey got what they were paying for.

Coach Stringer, who I’m have been critical of in the past, and probably will be in the future, out coached Aubrun’s Nell Fortner. (Who has had some yucky things to say about RU in the past. Crow is a great dish!)

Coach Stringer had a game plan that nullified Auburn’s two scoring threats. She had the team focused and energized. She gave the refs hell. (They WERE terrible. Equally terrible.) She used her time outs wisely. And, slowed the game pace at the seven minute to go mark to shorten the game.

The RU seniors obviously wanted to leave the RAC on an upnote.

I have to say it was one of the best games I have ever seen the RU women play.

Now, what have you done for us lately. :-) That’s life. Good job, but that’s now in the past. If they can play like that every night, they could be the champs. Watch out UConn! The RU women were 10 feet tall last night!

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RANT: Obama invited to speak at Notre Dame

Dear Member,

Like many of you, we received the news last Friday that President Barack Obama will deliver the commencement address at the University of Notre Dame this May.

In addition to delivering the address, the President will receive an honorary doctor of laws degree. In short, one of our nation’s premier Catholic institutions will honor the President, and hold out him as an example to its students as someone worthy of emulation!

Given President Obama’s utterly shameful record on life, how could a Catholic university honor him?

The University could have politely and quietly told the White House that their standing invitation to the President of the United States was not available this year. Better yet, they could have said that while they would welcome his contributions to the public debate over how to solve our economic crisis, his regrettable policies in favor of a culture of death make it impossible for them to welcome him.

Notre Dame has regrettably hosted pro-abortion speakers in the past, but President Obama is a champion of the abortion cause.

Sadly, it is now indisputable that our President has become the world’s leading promoter of abortion, embryo-killing cloning and research, taxpayer-funded abortion, and a vigorous opponent of conscience protections for medical professionals. His campaign promises to find ‘common ground’ have sadly been ignored, or perhaps were simply lies. And this Administration has only just begun.

Is there anything a president could do that would disqualify him or her from delivering such a prestigious address?

If there is such a threshold, Barack Obama has not disqualified himself with Notre Dame officials.

And so we must act.

We have spoken with professors, students, and leaders at Notre Dame over the past 48 hours and have concluded that a massive protest will be practically difficult, and even counterproductive. The University has a right as a private school to prevent all protestors from entering campus, and could legally arrest those who violate this rule. Secondly, a protest could create exactly the wrong impression.

Therefore, we are recommending four courses of action.

1) has partnered with the Cardinal Newman Society, a dynamic organization dedicated to the renewal of Catholic higher education in Together our aim is to collect thousands of signatures and present them to University officials.  Sign the petition now.

2) Contact Notre Dame and charitably express your outrage. is large enough to have a major impact, and we urge you to contact Notre Dame President Father Jenkins at (574) 631-5000.

3) Join your fellow members in a prayer of reparation on May 17 from 2-4 PM. We encourage you to organize local groups to pray for mercy for the decision by Notre Dame, but also for our nation for continuing to permit the tragedy of abortion.

***If you live in the Midwest, or near Notre Dame University, we invite you to personally join us in prayer at the Grotto on the campus of Notre Dame from 2-4 PM on May 17, where we will be joined by several Notre Dame professors, alumni, and current students. The gathering will be a peaceful and prayerful.

4) Please forward this message to your family and friends. Let them know about Notre Dame’s decision to honor the most pro-abortion President in American history. We must not remain silent over this scandal!


Brian Burch, President

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Have the people running Notre Dame lost their mind?

A supporter of infanticide invited to speak at a supposedly Catholic institution of higher learning!

I guess it too will join the ranks of “catholic in name only”.

Shame on them.

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RANT: Obama Seeks Expanded Power to Seize Firms

U.S. Seeks Expanded Power to Seize Firms
Goal Is to Limit Risk to Broader Economy
By Binyamin Appelbaum and David Cho
Washington Post Staff Writers
Tuesday, March 24, 2009; A01

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The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.

The government at present has the authority to seize only banks.

Giving the Treasury secretary authority over a broader range of companies would mark a significant shift from the existing model of financial regulation, which relies on independent agencies that are shielded from the political process. The Treasury secretary, a member of the president’s Cabinet, would exercise the new powers in consultation with the White House, the Federal Reserve and other regulators, according to the document.

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Anyone doubt that O is a national socialist?

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