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Posts Tagged ‘Milton Friedman’

Gary North speaking at the Mises Institute aft...

In his January 22, 2013 LewRockwell.com article, The Crackpot Economist Who Provided Milton Friedman With His Monetary Theory, Gary North states:

“[Irving] Fisher was a crank in other areas. He was a great promoter of eugenics. He wanted the scientific regulation of marriage and birth so as to promote the influence of the white race. Thomas Leonard in 2005 brought this to the attention of mainstream economists in The Journal of Economic Perspectives in an article about the Progressive movement and eugenics. He quoted Fisher’s statement in 1907: “The world consists of two classes – the educated and the ignorant – and it is essential for progress that the former should be allowed to dominate the latter. . . . [O]nce we admit that it is proper for the instructed classes to give tuition to the uninstructed, we begin to see an almost boundless vista for possible human betterment.” He cited Fisher’s textbook on economics.

Gary North has a lot of nerve, given that his own influence, Murray Rothbard, wrote this in his book, The Ethics of Liberty:

the parent should have the legal right not to feed the child, i.e., to allow it to die.

But this, of course, has nothing to do with economics, nor the validity of Milton Friedman’s economic theory, and it is one of many dodgy things Gary North has written, such as when he deliberately omitted that United States Notes are interest-free, or when he gave the false impression that United States Notes are no longer valid.

Why does North have to attack Milton Friedman for the beliefs of one of his influences? Is it because his arguments against Friedman’s theories can’t stand on their own merits?

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Obverse of the Series 2006 $20 bill

Three prominent hard money advocates have endorsed the temporary issuance of fiat money, with two of them particularly endorsing interest-free fiat money.

On September 18, 2011, Nelson Hultberg of the Conservative American Party outlined one of the party’s primary planks, to “enact Milton Friedman’s 4% auto-expansion plan for the Fed.

On August 17, 2011, monetary reform activist Kirk Mackenzie outlined his transition period of issuing interest-free fiat money, in moving toward a free market monetary system.

On October 2, 2008, Michael Badnarik, 2004 Libertarian presidential candidate said with regard to issuing interest-free fiat money like Lincoln did: “That’d be a step in the right direction.

Gary North, prominent writer for LewRockwell.com, has curiously stayed quiet by not smoking out these individuals as alleged false-flag infiltrators according to the same standards he used for taking exception with Ellen Brown advocating (interest-free) fiat money. Could it be that Ellen Brown was an easy target, not having any connections into the social circles he travels in, unlike these three other individuals?

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Gary North

Here is my email to him, with extra links included:

Dr. North,

It’s unfortunate for you if you actually kept you word and blocked all future emails for me after Max Keiser picked up my article exposing your fool’s gold standard, since I am now providing you with an opportunity to smoke out another alleged false flag infiltrator, as you claimed to have done with Ellen Brown.

Today, Nelson Hultberg, in an interview with the Daily Bell, revealed that his “Two Pillars Strategy” of the Conservative American Party involves temporarily implementing “Milton Friedman’s 4% auto-expansion plan for the Fed. This will mandate by law that the Fed can only increase the money supply by 4% every year.”

You know, the plan which you so roundly criticized in your March 19, 2011 article, Milton Friedman’s Contraption, where you stated: “Milton Friedman’s contraption was the unchecked welfare-warfare state: unchecked by annual taxation without withholding and unchecked by the gold standard.”

Regards,

Jason

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