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Posts Tagged ‘Gary North’

Publish or perishIn academic circles, there’s the principle of “publish or perish,” meaning that academics have to regularly publish scholarly articles in order to keep their jobs, whether or not they are quality articles, and that, by implication, quantity is often more important than quality.

Austrian School economist, Dr. Gary North, demonstrates this principle.

His December 28, 2012 LewRockwell.com article, Retired Couple Turn Into World Traveling Nomads, is only 158 words, and looks like the work of a fifth-grader. Here is a sample of his “high-quality” writing:

I like my lifestyle. I spend most of my time in my basement office. I write. I read. I don’t go anywhere.

I would pay a lot of money not to travel. Fortunately, I don’t have to. I get to stay home for free.

My view of travel is simple: if you want to see the world, rent travel videos. Or watch YouTube.

So much for Lew Rockwell publishing North’s articles because they are all high-quality. I first suspected a problem with the quality of some of his articles in 2010 when he claimed that gold coins produced by U.S. and Canada aren’t money, despite being legal tender.

Gary North actually revealed to fellow Mises Institute associate, Dr. Walter Block, that he was even too busy to respond to Dr. Block’s serious questions, because he had to get nine articles a day out the door, as revealed in this June 7, 2012 LRC blog post:

“Walter you ignore the obvious: At zero price, my time is in greater demand than supply. I must pick & choose my responses, writing 9 articles a day (paid subscribers), and being in the final phase of updating my 31 volumes”

Gary North’s focus on quantity over quality is further evidenced by his 1000th LRC article, where he spent more time navel-gazing about his 1000th article than informing his readers of more pertinent information.

For more on Gary North, see my many articles here.

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Lew Rockwell Donate Screen ShotEither I hit their paywall, or my IP address was targeted because of previous hard-hitting articles I had written about Austrian economics, the Mises Institute, Gary North, Thomas DiLorenzo, Dr. Walter Block, Lew Rockwell, The Daily Bell and the infiltration of Ron Paul’s campaign, because as of December 31, 2012, I am redirected to their donation page every time I go to LewRockwell.com.

Deleting my cookies doesn’t help — it’s based on my IP address. Apparently they didn’t consider that there are ways of getting around this, and as a result, I will continue to write hard-hitting articles on the above groups and individuals.

While I give them the benefit of the doubt that it’s probably just a secret paywall and not a result of specifically targeting me, I also had given the Daily Bell the benefit of the doubt about their website numbers, only to uncover that they had lied about them.

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Frank SuessThe regular Daily Bell contributor Frank Suess included one of my articles at FauxCapitalist.com in his weekly Mountain Vision newsletter, on October 4, 2012.

Gary North: “The FED operates for the benefit of the largest banks”
Unlike fellow Mises devotee, Thomas DiLorenzo, who keeps calling the Fed a “national bank” and “government bank,” to obscure the fact that it´s 100% privately owned and operates at a profit for its shareholders, Gary North admitted on March 9, 2011, that the Fed “operates for the benefit of the largest banks.”

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This is from the Daily Bell‘s bio on Suess:

Who is he: Frank R. Suess is CEO & Chairman of BFI Capital Group Inc. and he heads up the BFI group of companies in Zurich, Switzerland. They provide wealth management and consulting companies including the Global Gold Program offering secure gold storage in Switzerland. Frank also personally advises a select group of BFI’s high net-worth clients around the world. Suess’s vast knowledge of Switzerland and Liechtenstein is appreciated in his capacity as a member of the Advisory Board for The Foundation for the Advancement of Free-Market Thinking (FAFMT).

An advocate of free-market principles, Frank frequently speaks and writes on global economic, geo-political and financial matters. He is the editor of the Mountain Vision Update, BFI’s complimentary weekly newsletter. Furthermore, he is a regular contributor to The Daily Bell.

This is ironic, given what I have written about the Daily Bell.

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Coat of arms of Ludwig von Mises' great-grandf...

From their 2010 990 IRS form tax-filing, we see on page 20 that the 501(c)(3) tax-exempt Ludwig von Mises Institute owned $2,925,249 in gold bars. They also owned $505,371 in collectible coins and $533,169 in the Vanguard Precious Metals Fund.

For full disclosure, I own over $10,000 in gold, silver and platinum, but unlike Mises Institute associates — particularly through LewRockwell.com — I don’t regularly pump up gold and silver, and I have advocated platinum as the overlooked investment metal and currency, which unlike gold and silver, has never been confiscated in the United States.

It’s one thing to advocate gold as a microeconomic personal investment, but a far different matter to advocate for its use as a macroeconomic medium of exchange, as I demonstrate in my articles, The gold double standard and Gary North’s free market gold standard is also a fool’s gold standard.

This isn’t the first time I uncovered interesting findings from the Mises Institute’s tax filings. Previously, I wrote the article, The Ludwig von Mises Institute hates monetary inflation so much, they owned $4 million in U.S. Treasury Bonds in 2007.

For more on 501(c)(3) organizations, see my article, Dr. Stan Monteith: “I want you to know, we are not tax deductible, because we want to be able to tell you the truth.”

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English: Cover of the 2011 edition of The Aust...

The impression given by the 501(c)(3) tax-exempt Ludwig von Mises Institute that claims to hate government so much is that the Austrian School of economics has all the answers for what ails us, economically.

But what do we find with a little digging into what prominent Austrian School economists and devotees themselves say?

From the February 21, 2010 Daily Bell interview with Lew Rockwell (emphasis mine):

Daily Bell: Is the logical outcome of Austrian economics the disappearance of the state?

Rockwell: Mises didn’t think so; neither did Hazlitt. Sudha Shenoy argues that of all the people who entertained the possibility of society without a state in that generation, Hayek comes closest to embodying the anarchistic temperament. In any case, the man who made the real difference in the Austrian School in this regard is Rothbard. It was he who pushed the theoretical apparatus “over the edge,” so to speak. Hardly any modern Austrian today is not an anarchist. This is also thanks to Rothbardians such as Walter Block, Hans-Hermann Hoppe, and David Gordon, of course. At one time Rothbard was denounced for his views, for having allegedly marginalized the School. Now, of course, his anarchism is probably the largest part of the legacy he left for the world. It is very appealing to young people, unlike the statism of regime economists.

Rockwell: Rothbard condemned patents but not copyrights. Mises and Machlup saw patents as government grants of monopoly, but neither condemned them outright. Hayek was against copyrights and patents, but didn’t write about them much. It is digital media that have brought the issue into focus. The key thinker here is Stephan Kinsella. He and Jeffrey Tucker have done the heavy lifting and convinced most all of us that intellectual property is an artifice that has no place in a market economy.

What an interesting admission, that Mises apparently didn’t hate the state enough — compared to Murray Rothbard — in not actually condemning particular government grants of monopoly.

For more on disagreements and misunderstandings among Austrian School economists and devotees, see my articles:

1) Austrian School economist George A. Selgin pointed out a flaw in von Mises’ case for a gold standard

2) Gary North, before correcting Ellen Brown’s mistakes, correct your own

3) Dr. Walter Block calls Gary North out on yet more mistakes!

4) Mises devotees don’t know that Mises said inflation isn’t a tax

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speaking at CPAC in Washington D.C. on Februar...

In his August 23, 2012 LewRockwell.com article, Max Keiser: Ludwig von Mises Is a Fake Austrian Economist, Austrian School supporter Tom Woods states:

Now returning to Jaitly: “Gold does not have intrinsic value per se. It has value because it satisfies human ends…. It doesn’t have value in and of itself.”

This is certainly true, but any knowledgeable libertarian, and certainly any Austrian economist one might name, already knows this.

Woods is not alone among Austrian School supporters in this view, with fellow Mises devotee Gary North admitting as recently as March 2011 that “[g]old has intrinsic properties that make it valuable. However, it does not have intrinsic value.

Now, if only both of them would kindly inform patriot radio gold dealers the same, so they don’t keep repeating the same misinformation during their commercials and appearances on questionable shows like Coast to Coast AM.

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Walter WilliamsAustrian School supporter Walter Williams, writing for LewRockwell.com, equated defaulting on one’s debt to theft in his July 31, 2012 article, How Times Have Changed (emphasis mine).

Years ago, spending beyond one’s means was considered a character defect. Today not only do people spend beyond their means but also there are companies that advertise on radio and TV to eliminate or reduce your credit card and mortgage debt. Students saddled with college loans have called for student loan forgiveness. Yesterday’s Americans would have viewed it as morally corrupt and reprehensible to accumulate debt and then seek to avoid paying it. It’s nothing less than theft. What’s worse is there’s little condemnation of it by the rest of us.

We can see a pattern, with fellow Austrian School supporter Gary North calling for a fool’s gold free market standard, whereby the government that he says lies, cheats and steals would enforce contracts, yet it is expected to get completely out of money-issuing, which even globalist David Rothkopf says is a fundamental right of states. Specifically, states have the ability to issue money debt and interest-free, which is the real reason governments are targeted by private central bankers and Austrian School devotees, alike.

I also caught North deliberately omitting the fact that United States Notes are interest-free, and giving the false impression that they are no longer valid.

For Williams to specifically focus on student loan debt is revealing, since it is the very fact that large international banks — like those that Daily Bell founder, Anthony Wile, admitted to consulting for — which are largely responsible for lobbying U.S. and Canadian governments to make it impossible to wipe out your student loans in a bankruptcy. Big corporations, on the other hand, including banks, have no such constraint.

Is it any wonder, then, that fellow Austrian School supporter, Tom Woods, posed the question in an article, Are We Austrians Shills for the Bankers?

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