Why I Stopped Being White (and You Should Too) 8

By Nicky Reid aka Comrade Hermit

Exile in Happy Valley

Race is a touchy subject in the West. People across the aisle, especially white folk, tend to avoid it like a plague. A big part of the reason behind this reservation has to do with the fact that both the left and the right maintain an equally immature grasp on the subject. While the right seems to be convinced that race is some kind of scientific fact like a species of bird, the left seems to view it as an inescapable historical prison sentence with no hope for escape. Like usual, the left is wrong and the right is way fucking wrong. There is nothing scientific or permanent about race. It is a social construct as fluid in nature as gender or sexuality, and it is constantly evolving. Almost every known race was created by a collision of former races that have ceased to exist. About the only thing that the clueless class in the left-right paradigm gets right is that the white race is a very unique creature, and a dangerous one.

The white race is unique in that it is the first defining race of the imperial era and modern day imperialism defines its very existence. The Western Europeans designed the concept of whiteness to justify their expanse and enslavement of the New World and it’s dark skinned cousins across the Global South. As the insatiable nature of capitalism demanded endless expansion, it’s moneyed mandarins required the creation of a new super-class to rationalize the enslavement of the darker nations. This concept became even more necessary with American independence and the fall of monarchism.

This new white aristocracy replaced the royal bloodline and shaped the very nature of the planet’s economic ecosystem. The First World was created with the excess wealth pillaged from the Third World, and it’s subjects soon became victims of new races invented to further empower the white race. The colored races of black and Latino were constructed to both consolidate white supremacy’s ill-gotten gains and to rob the many tribes that made up these racial monoliths of color of their diverse indigenous cultures. The white race is unique, not simply by the Machiavellian nature of its design, but by the necessity of its supremacy over other similarly constructed mass races to justify its very existence. But like most imperial schemes, white supremacy backfired.

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The Sound Money Showdown in U.S. States Reply

Policies relating to sound money have been the subject of substantial debate at the state level this year, with bills, hearings, and/or votes taking place in nearly a dozen legislatures. 

As most state legislatures have now wrapped up their work for the year, let’s review the victories (both offensive and defensive)—and lone defeat—for sound money during the 2019 session.

The Sound Money Defense League’s primary goal is to remove every kind of taxation imposed on constitutional money. Given its practical importance, the hottest issue in the states has been taxation—i.e. whether citizens should face a levy when buying or selling gold and silver.

House Bill 2684, introduced by West Virginia Delegate Pat McGeehan, aimed to remove all taxes (sales tax, corporate income tax, and personal income tax) from gold and silver. Meanwhile, Senate Bill 502, sponsored by Senator Craig Blair, exempted only precious metals from the state’s sales tax.

The West Virginia bill removing sales taxes passed overwhelmingly through both chambers, and Governor Jim Justice signed SB 502 into law.

House Bill 2140, introduced by Kansas Representative Jim Kelly, included a sales tax exemption on the sale of gold and silver as part of a larger bill rife with new taxes. Governor Laura Kelly signed the measure in May.

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After Fed Disappoints, Will Trump Initiate Currency Intervention? Reply

By Stefan Gleason, Money Metals Exchange

Following months of cajoling by the White House, the Federal Reserve finally cut its benchmark interest rate. However, the reaction in equity and currency markets was not the one President Donald Trump wanted – or many traders anticipated.

The Trump administration wants the Fed to help drive the fiat U.S. dollar lower versus foreign currencies, especially those of major exporting countries.

Instead, the U.S. Dollar Index rallied throughout July ahead of the expected rate cut and continued rallying after Fed chairman Jerome Powell made it official on Wednesday.

In fact, the Federal Reserve Note broke out to its highest level since early 2017.

The Fed also announced it would end its balance sheet reduction program a month earlier than originally scheduled.

These dovish policy changes apparently weren’t dovish enough. The central bank could have gone for a 50-basis-point cut instead of the more routine quarter point cut it delivered. It could also have announced a new Quantitative Easing program.

Perhaps the biggest market-moving disappointment (equity bearish, dollar bullish) was Fed Chairman Jerome Powell shooting down the idea of an extended rate-cutting cycle.

In his press conference, he described the cut as “mid-cycle adjustment” that didn’t necessarily imply follow-up cuts.

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Jp Cortez: Sound Money Movement Gains Momentum in the States Reply

Mike Gleason: It is my privilege, now, to welcome in Jp Cortez, with the Sound Money Defense League, a non-partisan national public policy organization working to restore sound money on the state and federal level.

Jp is a proponent of, and has studied in the Austrian School of Economics, and his role at SMDL as policy director, has him regularly testifying at legislative hearings and speaking at various events throughout the country.

His articles and analysis have appeared in many national news publications, including The Washington Examiner, Huffington Post, Mises Institute, Foundation for Economic Education, and more, and he’s a frequent guest on various podcasts and national radio shows to talk about the importance of sound money legislation. And it’s a real pleasure to have him on with us today.

Jp, thanks for the time and welcome.

Jp Cortez: Mike, I appreciate you having me on. Thank you so much.

Mike Gleason: Well, Jp, as we start out today, let’s set the stage here and first have you explain why this idea of sound money is important in the first place, and then, as a follow up to that, what kind of policies would help restore and reinforce sound money? Let’s begin with that.

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The Condition of the World Economy 1

A very good discussion of the world economy by two Marxist-Leninists. I agree with virtually everything they say except for, of course, their interpretation of the role of Communism in the industrial development of the Eastern world.

The Communist revolutions that took place in the East and the Global South in the 20th century were simply a continuation of the bourgeois revolutions of the 18th and 19th century. In every case, these revolutions (from America and France in 1776 and 1789 to Cuba and Cambodia in 1959 and 1975) were rooted in the left-wing of the middle class as revolutions almost
always are. The West is experiencing a bloodless revolution of that kind at present (what the right-wing calls “cultural Marxism’).

Industrial development of communist countries was always made possible by Western capital. An agrarian society can’t experience industrial development by practicing economic autarky. Russia tried that with “war communism” during the Russian Civil and it failed. Hence, Lenin developed the New Economic Policy and began importing industrial technology from Western capitalists.

China attempted a similar approach during the Great Leap Forward only to experience famine and mass starvation. It was the Dengist reforms of the late 70s/early 80s that allowed China to develop on its present mercantilist/national- capitalist model, which is basically the same model used by the Asian Tigers as well as the European nations during the Industrial Revolution.

Even the Khmer Rouge understood they needed the support of Western capital. The purpose of the “killing fields” was to produce as much of an agricultural surplus as possible to sell on the world market in order to be able to import industrial equipment and technology. The Khmer Rouge goal was the achievement of industrialization by the year 2000. After they were dislodged by Vietnam in 1979, they changed their ideology from Maoism to “liberal capitalism” and formed an alliance with the CIA against the Vietnamese.

Financial Media Elite Defensively Bash “Useless” Gold Reply

By Chris Powell, Money Metals Exchange

At least the Financial Times now has come clean about its hostility to gold – as well as to free markets and elementary journalism.

Gold Anti-Trust Action Committee (GATA) friend Chris Kniel of Orinda, California, sent to the newspaper’s chief economic columnist, Martin Wolf, the excellent summary of gold and silver market manipulation just written by gold researcher Ronan Manly.

Wolf replied derisively and dismissively: “This is a matter of absolutely no importance whatsoever. Who cares about the prices of useless metals?”

Stunned by such a counterfactual assertion, Kniel prompted Wolf to elaborate, receiving this from the FT columnist: “I mean to dismiss the whole monetary history of gold. It has no significance in the modern world. It is, as Keynes said, a barbarous relic.”

Actually, Keynes’ “barbarous relic” remark was made not about gold itself but about the gold standard for currencies. Keynes wasn’t denying gold’s use as money. But that is the least of the problems with Wolf’s reply.

Who cares about the prices of useless metals? “No significance in the modern world”?

For starters, governments themselves care.

That’s why central banks, against Wolf’s advice, continue to hold huge inventories of gold and lately have been increasing them.

It’s why central banks classify gold as a Tier 1 asset, equivalent to government-issue bonds and cash.

It’s why central banks constantly trade the metal and its derivatives surreptitiously, directly and through the Bank for International Settlements, usually to restrain the metal’s price, recognizing that gold is a determinant of currency values, interest rates, and government bond prices.

It’s why the International Monetary Fund forbids its members from formally linking their currencies to gold, lest the metal gain precedence over government-issued currencies.

Further, London is the center of the world’s gold trading, the bullion banks are major employers there, and the FT is based in London, so the newspaper itself ordinarily might care.

Of course, Wolf’s dismissing “the whole monetary history of gold” doesn’t make that history disappear. Indeed, today Agence France-Presse distributed a report about gold’s monetary history that is both fascinating and tragic, gold’s history being a big part of human history.

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Monetary Metals Don’t Need a “Gold Standard” Proxy System 1

By Stefan Gleason, Money Metals Exchange

President Trump moved recently to nominate an avowed sound money advocate, Judy Shelton, to the Federal Reserve Board. That triggered a flurry of superficial and derisive references in the controlled media to Shelton’s past support of a gold standard.

For example, CBS News described her as “a believer in the return to the gold standard, a money policy abandoned by the U.S. in 1971.” According to the story, “mainstream economists believe it’s a fringe view.”

As the “mainstream” media portrays sound money advocates, we apparently are nostalgic for the monetary system that existed all the way up until 1971.

Being backward looking by nature, our driving purpose in life is apparently to salvage that “abandoned” system.

Never mind the fact that the post-World War II Bretton Woods gold window that existed until 1971 was meant to ensure U.S. dollar hegemony in international trade – not sound money for the people.

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The Hidden Reason Why Fed Chairman Powell and “Systemically Important” Banks Oppose a Gold Standard 3

By Mike Gleason, First Published on Sound Money Defense League

Chairman Powell’s testimony this week was closely scrutinized not just for its economic implications but also for its political overtones. Powell cited “trade tensions” as cause for concern about the strength of the global economy. He clearly seemed to be blaming President Trump’s tariffs.

But if the tariffs are what ultimately move the Fed to cut rates, Trump will have finally gotten what he wants out of Powell. In recent weeks, Trump has stepped up his attacks on the central bank, calling it the biggest problem facing the economy, floating the idea of firing Powell, and suggesting his administration would match China’s and Europe’s “currency manipulation game.”

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Trump comes out against Bitcoin, other Cryptocurrencies, and “Unregulated Crypto Assets” 6

What about the Workers? A Libertarian Answer Reply

By Sean Gabb

I was called this morning by the BBC. It wanted me to comment on the claims that Sports direct, a chain of sports clothing shops, mistreats its workers – keeping them on zero-hours contracts, sometimes not paying them even the minimum wage, scaring them out of going sick, generally treating them like dirt. Would I care to go on air to defend the right of employers to behave in this way? I am increasingly turning down invitations to go on radio and television, and this was an invitation I declined. I suggested the researcher should call the Adam Smith Institute. This would almost certainly provide a young man to rhapsodise about the wonders of the free market. My own answer would be too complex for the average BBC presenter to understand, and I might be cut off in mid-sentence.

Here is the answer I would have taken had I been invited to speak on a conservative or libertarian radio station on the Internet.

First, it is a bad idea to interfere in market arrangements. Sports Direct is in competition with other firms. Making it pay more to its workers, or to give them greater security of employment, would require it to raise prices and make it less competitive. A general campaign against zero-hour contracts and low pay would raise unemployment. In even a reasonably open market, factors of production are paid the value of their marginal product. Establish a minimum price for labour above its clearing price, and those workers whose employment contributes less than this to total revenue will be laid off. If I felt more inclined than I do, I could produce a cross diagram to show this. The downward sloping curve would show diminishing marginal productivity, the upward the supply of labour at any given price. The point of intersection would show the clearing price. Draw a horizontal line above this clearing price to show the minimum allowed price, and you can two further lines from where this intersects the curves to create a box showing the unemployment that would result. I leave that to your imagination. Or here is a representation I have found on-line:

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A History of Decentralization 5

aragon.black
Jun 11, 2019
14 minute read (full)

First let’s decentralize history…

This month’s thematic has been a real challenge for us and raised many questions in our minds. Why? The history of decentralization is complex and non-linear. But most of all, it is difficult to be considered from an objective point of view, stripped of the predominance of the state.

Talking about decentralization leads obviously to discuss about centralization; to find the ghosts of history, to cross-reference the victories and failures of social-political movements; to discover some contemporary alternatives to the generalized centralization of our lives. Unless we consider that a technology is neutral, in the end, we cannot talk about decentralization without talking about governancesuffragepolitics or apoliticismautonomyorganization… and the dominant model of centralization: the nation-state. Still, if a very vast literature and documentation concerns rise of states, it must be stated that the one granted to the opposite, i. e. the absence of a state, is almost non-existent. More…

Big Tech, Big Banks Push for “Cashless Society” 1

By Stefan Gleason, Money Metals Exchange

The War on Cash isn’t a conspiracy theory. It’s an open agenda. It’s being driven by an alignment of interests among bankers, central bankers, politicians, and Silicon Valley moguls who stand to benefit from an all-digital economy.

Last week, Facebook – in partnership with major banks, payment processors, and e-commerce companies – launched a digital currency called Libra. Unlike decentralized, free-floating cryptocurrencies, Libra will be tied to national fiat currencies, integrated into the financial system, and centrally managed.

Critics warn Libra is akin to a “spy coin.” It’s certainly not for anyone who wants to go off the financial grid.

Many of the companies involved in Libra (including Facebook itself) routinely ban users on the basis of their political views. Big Tech has booted scores of individuals and groups off social platforms for engaging in “far right” speech. If Libra one day becomes the predominant online payment method, then political dissidents could effectively be banned from all e-commerce.

You can still obtain some degree of anonymity in the offline world by using paper cash. But that will become impossible in the cashless future envisioned by bankers.

Last week Bank of America CEO Brian Moynihan touted new developments in digital payment systems while speaking at a Fortune conference. He said, “We want a cashless society…we have more to gain than anybody from a pure operating costs.”

They gain – at the expense of our financial privacy. A cashless society is the end of a long road to monetary ruin that began many decades ago with the abandonment of sound money backed by gold and silver.

Stefan Gleason is President of Money Metals Exchange, the national precious metals company named 2015 “Dealer of the Year” in the United States by an independent global ratings group. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC, and his writings have appeared in hundreds of publications such as the Wall Street Journal, Detroit News, Washington Times, and National Review.

Open Letter From Steve Forbes To Mark Zuckerberg Reply

by Steve Forbes

Dear Mr. Zuckerberg:

Your company made big headlines when it announced it would be launching a cryptocurrency called the Libra in 2020. Not surprisingly, given the nature of the times, the project has been greeted with intense criticism and skepticism. Don’t lose heart. In one sense, the idea of a company creating its own kind of money is an old one. The airlines’ frequent-flier miles are really a form of money that customers can earn and use to buy trips and various other things. Credit card companies, hotels and numerous retailers have all sorts of loyalty programs in which people earn points that will let them buy all manner of goodies.

But if you play your cards right with the Libra, you could be to money and finance what Henry Ford was to automobiles. Your new currency could take its place alongside the inventions of coins and paper money many centuries ago. It could replace the U.S. dollar as the global currency. More…

The Gap Between Rich and Poor Americans’ Health Is Widening Reply

NPR
by Susie Neilson

Researchers compared Americans’ health status today with that of 25 years ago and found that health is worsening among lower-income Americans.

Orbon Alija/Getty Images

 

Income inequality in the U.S. has grown over the past several decades. And as the gap between rich and poor yawns, so does the gap in their health, according to a study published in JAMA Network Open Friday. More…

Rising US Inequality: How We Got Here, Where We’re Going 1

Stanford Business
Shana Lynch

An economist and a business advisor discuss what might happen if the gap between rich and poor continues to grow.

A tent is seen next to Echo Park Lake in Los Angeles, California. Credit: Reuters/Lucy NicholsonInequality is on the rise in the United States. Stanford experts discuss possible solutions. | Reuters/Lucy Nicholson

The U.S. economy hit a historic high in 2018, and today unemployment is at its lowest rate in five decades. Yet wage growth for the vast majority of Americans has stalled, and more people are struggling to afford housing, health care, education, and other basics.

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Steve Forbes Exclusive: “A Monkey Throwing Darts” Is BETTER Than the Fed… Reply

Mike Gleason: It is my great privilege now to be joined by Steve Forbes, Editor-in-Chief of Forbes Magazine, CEO of Forbes Media, and author of many fabulous books, including Flat Tax Revolution, How Capitalism Will Save Us, and Money: How the Destruction of the Dollar Threatens the Global Economy and What We Can Do About It. He’s also a two-time presidential candidate, having run in the Republican primaries in both 1996 and in the year 2000.

Mr. Forbes, I really want to thank you for your time today and for joining us again. It’s a tremendous honor to have you back on, welcome.

Steve Forbes: Good to be with you. Thank you.

Mike Gleason: Well, let’s start with one of the big topics on Wall Street these days, that being tariffs and trade. The president has been working to rewrite trade deals and reduce the trade deficit. Recently, the dispute with China escalated and tariffs were increased to 25%. There has been some volatility in the equity markets, but so far, at least, investors seem to be optimistic that a deal will be reached, or perhaps trade tensions don’t matter as much as they should, because the Federal Reserve is already signaling they will ride to the rescue.

Do you think the tariffs will be effective, and we wonder if America’s hand is as strong as the president thinks it is, or are people really prepared for much higher prices as the extra costs associated with tariffs get passed along? What are your thoughts there?

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Why the “Far Left” (and “Far Right”) is Not Radical Enough 1

If there is one point that I have tried to make clear during the entire 20 years or so that I have been doing ATS, it is that the solution to globalization/globalism/imperialism/whatever one wants to call it is global revolutionary struggle, which is a struggle that (obviously) transcends most other boundaries and conflicts.

Opponents of the Empire may vary infinitely in their specific tribal affiliations: ideological, economic, religious, ethnic, cultural, moral, technological, etc. Yet the first question that has to be asked involves the issue of how the scattered tribes of resistance can collectively fight the common enemy. If one were living in 100 A.D. and trying to determine how to best resist the Roman Empire, the question would obviously be “How can the many tribes that are subject to the Empire engage in effective resistance?” The situation is essentially the same in 2019.

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National Precious Metals Dealer Offers Sound Money Scholarships to Deserving Students Reply

Charlotte, North Carolina (June 5, 2019) – A national precious-metals dealer is teaming up with a sound money policy group to help students pay for the ever-increasing costs of college.

Money Metals Exchange has teamed up with the Sound Money Defense League to offer the Sound Money Scholarship — the first gold-backed scholarship of the modern era. Starting in 2016, these organizations have set aside 100 ounces of physical gold (currently worth more than $130,000) to reward outstanding students who display a thorough understanding of economics, monetary policy, and sound money.

The Sound Money Scholarship is open to high school seniors, undergraduate, and graduate students with an interest in economics, specifically the tradition of the Austrian school. Applicants do not have to be economics majors to be eligible to receive this scholarship.

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