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An Introduction to Austrian Economics: Understand Economics, Understand Everything
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Category: Economy - Browse by Category - News - Analysis - Highlights - Multimedia - Latest Comments Thursday December 18th, 2014
Cuban Cigars Among Goods Travelers Get OK To Import posted 12/18/2014, 9:39 AM (USA Today)
[Category: Economy]
Cigar-loving travelers won't have to hide their Cubans in their luggage anymore.

Tobacco products from Cuba are among the goods allowed under new trade normalization rules that President Obama announced Wednesday.

The eased restrictions mean that approved travelers will be able to bring home $100 of cigars. (Not a cigar smoker? You can bring back Cuban rum instead.)
... (more)


Monday December 15th, 2014

Man Can't Challenge $280K Tax Bill He Probably Doesn't Really Owe, Pa. Court Says posted 12/15/2014, 9:22 AM (PennLive.com)
[Category: Economy]
With undisguised reluctance, Commonwealth Court has issued an order requiring a Philadelphia man to pay a $280,772 tax bill that he probably doesn't really owe.

In fact, city officials acknowledged in court that the tax bill they sent Nathan Lerner was a "jeopardy assessment" based on a fabrication.

The problem is that Lerner didn't follow the right procedural course in challenging it, a Commonwealth Court panel found in a ruling issued this week. And so, the state
... (more)
"Once, I remember, I ran across the case of a boy who had been sentenced to prison, a poor, scared little brat, who had intended something no worse than mischief, and it turned out to be a crime. The judge said he disliked to sentence the lad; it seemed the wrong thing to do; but the law left him no option. I was struck by this. The judge, then, was doing something as an official that he would not dream of doing as a man; and he could do it without any sense of responsibility, or discomfort, simply because he was acting as an official and not as a man. On this principle of action, it seemed to me that one could commit almost any kind of crime without getting into trouble with one's conscience.

Clearly, a great crime had been committed against this boy; yet nobody who had had a hand in it — the judge, the jury, the prosecutor, the complaining witness, the policemen and jailers — felt any responsibility about it, because they were not acting as men, but as officials. Clearly, too, the public did not regard them as criminals, but rather as upright and conscientious men.

The idea came to me then, vaguely but unmistakably, that if the primary intention of government was not to abolish crime but merely to monopolize crime, no better device could be found for doing it than the inculcation of precisely this frame of mind in the officials and in the public; for the effect of this was to exempt both from any allegiance to those sanctions of humanity or decency which anyone of either class, acting as an individual, would have felt himself bound to respect — nay, would have wished to respect. This idea was vague at the moment, as I say, and I did not work it out for some years, but I think I never quite lost track of it from that time." - Albert Jay Nock, "Anarchist's Progress", The American Mercury (1927); § III : To Abolish Crime or to Monopolize It?


Saturday December 13th, 2014



Say Goodbye to the Nation State, This is How the New System Will Look Like posted 12/13/2014, 6:38 AM (Soverign Man)
[Category: Economy]
Doing what has never been done before, the Estonian government has recently introduced an “e-residency” program for foreigners.

The idea is to enable people from around the world to very simply establish a unique digital presence in the country, and then carry the benefits of that with them wherever they go in the world.

[...]Given that corporate income taxes for undistributed profits in Estonia are zero, this is a massive perk to any entrepreneur or anyone interest
... (more)


Thursday December 11th, 2014

$404,155,000,000: Taxes Set Record in First 2 Months of FY15--Deficit Still $179B posted 12/11/2014, 5:57 AM (CNS News)
[Category: Economy]
(CNSNews.com) - The U.S. Treasury continued to rake in tax dollars at a record rate in November as the federal government closed out the first two months of fiscal 2015 with $404,155,000,000 in total receipts, according to the Monthly Treasury Statement released today.

In constant 2014 dollars, this is the first time federal revenues have topped $400 billion in the first two months of the fiscal year.

Even with these record revenues, the Treasury ran a deficit of $1
... (more)


E-mails Reveal Obama's Morality Police Are Targeting Lawful Businesses posted 12/11/2014, 5:57 AM (The New American)
[Category: Economy]
It’s an example, in essence, of legislating from the bureaucratic cubicle. A House committee has discovered e-mails showing that officials at the Federal Deposit Insurance Corporation schemed to destroy lawful businesses they found morally objectionable.

The vehicle through which this is done is Operation Choke Point; this is an Obama administration effort ostensibly designed to “choke off” access to the U.S. financial system to illegal operations, but it’s also being applied to t
... (more)


Tuesday December 9th, 2014



Professor Gruber Strikes Again posted 12/09/2014, 2:22 AM (The Beacon)
[Category: Economy]
According to a recent post by Scott Vorse on Brietbart's "Big Government" website, MIT economics professor Jonathan Gruber, already in hot water for saying that "the stupidity of the American voter" was politically indispensable in getting Congress to pass the Affordable Care Act, previously had advised former NYC mayor Michael Blo... (more)


Friday December 5th, 2014

Liberty Dollar Founder von Nothaus Sentenced to House Arrest for Counterfeiting posted 12/05/2014, 10:08 PM (Eyewitness News)
[Category: Economy]
A former Evansville businessman is sentenced to six months house arrest.

Bernard von NotHaus was convicted in 2011 of counterfeiting charges for minting and distributing a form of private money called the Liberty Dollar.
... (more)


Tuesday December 2nd, 2014

Income Inequality Is a Statistical Artifact posted 12/02/2014, 6:44 PM (Robert Higgs)
[Category: Economy]
The past year or so has witnessed a tremendous outpouring of commentary about income inequality. Pundits and politicians have huffed and puffed about it, mainly about its alleged evils and what governments should do to diminish it. Mainstream economists have devoted a great deal of attention to dissecting French economist Thomas Piketty’s book Capital in the Twenty-First Century, a book focused on income inequality—and also a book whose shoddy craftsmanship would have repelled such attention... (more)


Sunday November 30th, 2014

Ponzi: Treasury Issues $1T in New Debt in 8 Weeks--To Pay Old Debt posted 11/30/2014, 7:00 PM (CNS News)
[Category: Economy]
The Daily Treasury Statement that was released Wednesday afternoon as Americans were preparing to celebrate Thanksgiving revealed that the U.S. Treasury has been forced to issue $1,040,965,000,000 in new debt since fiscal 2015 started just eight weeks ago in order to raise the money to pay off Treasury securities that were maturing and to cover new deficit spending by the government.... (more)


Wednesday November 26th, 2014

A Golden Opportunity for Switzerland posted 11/26/2014, 11:43 AM (Mises Institute)
[Category: Economy]
The referendum on the Swiss Gold Initiative will take place on November 30.1 The Initiative demands the following: (1) The Swiss National Bank (SNB) shall be prohibited from selling any of its gold reserves; (2) the SNB’s gold reserves must be stored in Switzerland; and (3) the SNB must keep at least 20 percent of its assets in gold (i.e., the “20-percent rule”).... (more)


Thursday November 20th, 2014



American Ranking Plummets in Global Index of 'Personal Freedoms' posted 11/20/2014, 9:18 AM (Common Dreams)
[Category: Economy]
In an age of expanding national security powers, increasing surveillance state, and rolled-back civil liberties protections, Americans' perception of their own personal freedoms is plummeting, according to the annual ranking by the Legatum Institute in London.

In Washington D.C. this week to promote their findings, researchers with the Legatum Institute measure a nation's prosperity on a number of factors including health, safety, education, economy, opportunity, social capital, g
... (more)


Wednesday November 19th, 2014

One Reader's Shocked Response Upon Learning His Health Insurance Cost Just Doubled posted 11/19/2014, 7:24 AM (Zero Hedge)
[Category: Economy]
Attached is the ACA notification of next year's price increase. As you can see the cost goes from $281 to $555, a monthly increase of $274, a percentage increase of 97%. ... (more)


Tuesday November 18th, 2014

Your "Children Will Be Fined" If You Fail To Sign Up For Obamacare: People Are Going To Be In for A Shock posted 11/18/2014, 5:56 AM (SHTFplan.com)
[Category: Economy]
Free and affordable health care just gets better and better.

In 2015 the government will be activating some new “incentives” embedded in the Affordable Care Act in an effort to get more people to sign up.

But, as is often the case when the government says one thing, they mean exactly the opposite. In this case, when they say incentive what they really mean is that you are going to be penalized if you fail to acquire government mandated health insurance. But not just
... (more)


Monday November 17th, 2014

25% Of Americans Prefer Socialism Over Capitalism posted 11/17/2014, 6:42 AM (Zero Hedge)
[Category: Economy]
Pew Research finds a stunning 25% of Americans do not believe people are better off in a free market system - implicitly preferring centrally-planned lives.... (more)


Thursday November 13th, 2014

"World’s Richest Restaurateur" Sees An Imminent Crash In America's "Crazy" Real-Estate Market posted 11/13/2014, 8:58 PM (Zero Hedge)
[Category: Economy]
When it comes to the fair value of assets, especially cash-flow generating real estate, few are as qualified to opine as the man dubbed “World’s Richest Restaurateur”, billionaire Tilman Fertitta, chairman of Landry's Restaurants which counts among its properties such brand names as Morton’s, Rainforest Cafe, Bubba Gump Shrimp Co., McCormick & Schmick’s, Saltgrass Steak House, Claim Jumper, Chart House, The Oceanaire, Mastro’s Restaurants, Vic & Anthony’s Steakhouse and many more.

... (more)


Monday November 10th, 2014

Homeless Woman Fined For Building Her Own Home posted 11/10/2014, 4:26 PM (Yahoo News)
[Category: Economy]
A First Nations woman in Northern Ontario faces thousands of dollars in fines and a stop-work order on the cabin she is attempting to build in the place where she grew up.... (more)


Friday November 7th, 2014

There's Already A Silk Road 3.0 posted 11/07/2014, 5:17 PM (Business Insider)
[Category: Economy]
Hours after the FBI seized the Silk Road 2.0, the deep web's infamous illegal drug marketplace, there's already another version of the site on the internet. ... (more)


Thursday November 6th, 2014

The End of QE Is Not the End of Bad Policy posted 11/06/2014, 2:25 PM (Mises Institute)
[Category: Economy]
Recently the financial press and media has been abuzz as the Federal Reserve moved closer to the anticipated end to its massive bond and mortgage backed securities purchases known as quantitative easing. James Bullard, President of the St. Louis Federal Reserve Bank, stirred controversy last week when he suggested the Fed should consider continuing the bond buying program after October. But at the October 29th meeting, the policy makers did as anticipated and "agreed to end its asset purch... (more)


Tuesday November 4th, 2014

Marijuana Profits Up In Smoke Under IRS Rules posted 11/04/2014, 12:54 PM (USA Today)
[Category: Economy]
Voters in Oregon, Alaska, and Washington, D.C., will decide Tuesday whether to legalize the sale of recreational marijuana. But any new pot shops that voters approve may not be able to survive a drug war-era tax code that already threatens many businesses in Colorado and Washington state.

Under this tax code the federal government stands to make more money from the sale of marijuana than those legally selling it. And that could be enough to shut down many shops.

"It
... (more)
Illegal drugs are bad -- unless we profit off them! Understand?!


Friday October 31st, 2014

Hungary Internet Tax Cancelled After Mass Protests posted 10/31/2014, 1:11 PM (BBC News)
[Category: Economy]
Hungary has decided to shelve a proposed tax on internet data traffic after mass protests against the plan.

"This tax in its current form cannot be introduced," Prime Minister Viktor Orban said on Friday.

Large-scale protests began on Sunday, when demonstrators hurled old computer parts at the headquarters of Mr Orban's ruling Fidesz party.

The draft law - condemned by the EU - would levy a fee on each gigabyte of internet data transferred.
... (more)


Monday October 27th, 2014

"They Just Want The Money!" - The IRS Can Now Seize Accounts On Suspicion Alone posted 10/27/2014, 9:11 AM (Zero Hedge)
[Category: Economy]
"How can this happen?" Ms. Hinders said in a recent interview. "Who takes your money before they prove that you've done anything wrong with it?"

The federal government does.

*  *  *

The topic of civil asset forfeiture has been high on our agenda recently as federal ‘agents’ discover how to steal Americans’ hard-earned cash with zero repurcussions , and decide unilaterally how much cash a ‘common man’ is allowed to
... (more)


Hillary: 'Don't Let Anybody Tell You' That 'Businesses Create Jobs' posted 10/27/2014, 9:11 AM (Breitbart TV)
[Category: Economy]


Appearing at a Boston rally for Democrat gubernatorial candidate Martha Coakley on Friday, Hillary Clinton told the crowd gathered at the Park Plaza Hotel not to listen to anybody who says that “businesses create jobs.” “Don’t let anybody tell you it’s corporations and businesses create jobs,” Clinton said.

“You know that old theory, ‘trickle-down economics,’” she continued. “Tha
... (more)


Does Ebola Justify the State? posted 10/27/2014, 9:11 AM (Tom Woods)
[Category: Economy]


How could a stateless society deal with a disease like Ebola? Bob Murphy explains.


Hungarian Protesters Urge PM Orban to Scrap Internet Tax posted 10/27/2014, 9:10 AM (AFP)
[Category: Economy]
More than 10,000 people marched in Budapest on Sunday to demand the scrapping of a proposed tax on Internet usage that critics of Prime Minister Viktor Orban call his latest anti-democratic measure.... (more)


Thursday October 23rd, 2014

Low Inflation? The Price Of Ground Beef Has Risen 17 Percent Over The Past Year posted 10/23/2014, 7:37 AM (The Economic Collapse)
[Category: Economy]
Thanks to the Federal Reserve, the middle class is slowly being suffocated by rising food prices.  Every single dollar in your wallet is constantly becoming less valuable because of the inflation the Fed systematically creates.  And if you try to build wealth by saving money and earning interest on it, you still lose because thanks to the Federal Reserve's near zero interest rate policies banks pay next to nothing on savings accounts.  The Federal Reserve wants you to either spend your money or ... (more)


Silk Road Prevented Violence And Was A "Transformative" Criminal Innovation posted 10/23/2014, 7:37 AM (City A.M.)
[Category: Economy]
The deep web black marketplace Silk Road, which was shut down last year, prevented violence associated with the illegal drug trade and represented a breakthrough in criminal innovation.

So concludes a new study by researchers at the University of Manchester and the University of Montreal.

Dubbed the "eBay" of drugs, the site was not, as many had thought, dominated by transactions between drug dealers and users, but appears to have had a significant level of dealer-t
... (more)


Wednesday October 22nd, 2014

Hungary Seeks Internet Tax Of .60c Per GB in 2015, Tax Plans Show posted 10/22/2014, 6:29 AM (Portfolio.hu)
[Category: Economy]
Hungary’s Economy Minister Mihály Varga has on Tuesday submitted to Parliament a draft on changes to the tax regime to be implemented in 2015. An amendment of the telecom law is also included, according to which the telecom tax would be extended to Internet services. The tax will be proportionate to data traffic and every gigabyte started will cost 150 forints.

Varga has already told a press conference earlier today that the scope of the telecom tax would be extended to I
... (more)


EFF, Internet Archive, and reddit Oppose New York's BitLicense Proposal posted 10/22/2014, 6:28 AM (Electronic Frontier Foundation)
[Category: Economy]
San Francisco - The Electronic Frontier Foundation (EFF), along with reddit and the Internet Archive, today filed formal comments with the New York State Department of Financial Services opposing the state's proposed regulations for digital currencies such as Bitcoin. In the letter, EFF argues that on top of damaging privacy and harming innovation, New York's "BitLicense" regulatory scheme also risks i... (more)


Monday October 20th, 2014

Illegal Copying Has Always Created Jobs, Growth, And Prosperity posted 10/20/2014, 4:13 AM (TorrentFreak)
[Category: Economy]
Throughout history, those who have copied the most have also always been the most prosperous, and for that reason. Bans on copying, like the copyright and patent monopolies, are just plain industrial protectionism.... (more)


Wednesday October 15th, 2014

"Outsourcing" Makes Us Richer posted 10/15/2014, 10:37 PM (The Freeman)
[Category: Economy]
This short video, put out by the Million Jobs Project, currently has more than 3.7 million views. It claims that US producers have been outsourcing jobs abroad in order to fatten their profits. It urges viewers to increase their purchases of American-made products by 5 percent, since this shift would ultimately create “a minimum” of a million new jobs for Americans. Unfortunately, everything about this video is wrong.... (more)


Castro Valley Winery Fined $115,000 for Using Volunteers posted 10/15/2014, 10:36 PM (San Jose Mercury News)
[Category: Economy]
CASTRO VALLEY -- A small-time vintner's use of volunteer workers has put him out of business after the state squeezed him like a late-summer grape for $115,000 in fines -- and sent a chill through the wine industry.

The volunteers, some of them learning to make wine while helping out, were illegally unpaid laborers, and Westover Winery should have been paying them and paying worker taxes, the state Department of Industrial Relations said.
... (more)


Monday October 13th, 2014

Bono: Controversial Tax Laws Have Brought Ireland The Only Prosperity It Has Ever Known posted 10/13/2014, 6:32 PM (The Observer )
[Category: Economy]
U2 singer says capitalism and commerce play a vital role in lifting people out of poverty and that Ireland’s tax policies benefit the country’s economy.... (more)


Monday October 6th, 2014

Who's Afraid of the Workers' Revolution? posted 10/06/2014, 4:05 PM (The Freeman)
[Category: Economy]
It’s finally happening: the backlash against the most impressive features of digital-age economics. I’ve been waiting for this for years, knowing that we can’t smoothly travel from the old world of command and control to the new world of personal sovereignty without engaging in the intellectual argument.

What’s been missing until recently has been the framework these arguments would take. That’s now becoming clearer. The opponents of markets just can’t reconcile themselves to
... (more)


Saturday October 4th, 2014

Sports Stadiums: Temples to Crony Capitalism posted 10/04/2014, 7:20 PM (Mises Institute)
[Category: Economy]
The NFL is running one of its own games on the public, and as one of the most subsidized non-profit organizations in American history, the NFL excels at tackling the American taxpayer. It should be of no surprise that with its religious-like following, the NFL receives the same tax-exempt status as a church, exempted under the IRS 501 (c) 6 code from paying federal taxes. The legislation puts the NFL as a non-profit trade association which it has been under since 1942.

But over th
... (more)


Wednesday October 1st, 2014

U.S. National Defense: Just Another Government Program posted 10/01/2014, 1:16 PM (The Beacon)
[Category: Economy]
The military is not just another government program—it’s one of the largest government programs. The U.S. military faces the same systematic problems as other government activities. The DOD is guilty of the same sins as social security, nationalized healthcare, government-run education, and every other bureaucratic government initiative providing a “service” to the U.S. citizenry.... (more)


Tuesday September 23rd, 2014

Obamacare Architect Says Society Would Be Better Off If People Only Lived To Age 75 posted 09/23/2014, 9:13 AM (The American Dream)
[Category: Economy]
Dr. Ezekiel Emanuel, brother of Rahm Emanuel, says that society would be far better off if people quit trying to live past age 75.  His new article entitled “Why I Hope To Die At 75” has the following very creepy subtitle: “An argument that society and families--and you--will be better off if nature takes its course swiftly and promptly”.  In the article, Emanuel forcefully argues that the quality o... (more)
Compare this to entrepreneur Peter Thiel who's seeking a cure for "the problem of death."

The market creates, the state destroys. - Chris, InfoLib


My Struggle for Braiding Freedom posted 09/23/2014, 9:13 AM (Melony Armstrong)
[Category: Economy]
"In order for me to teach natural hair braiding ... the state required me to endure another 1,200 hours in cosmetology training and then 2,000 more hours to obtain a cosmetology instructor's license. Altogether, that's more class time than what Mississippi demands to become a firefighter, law enforcement officer and paramedic, combined."... (more)


Monday September 22nd, 2014

Elizabeth Warren Says US Has "No Future" If Free-Market Embraced posted 09/22/2014, 11:23 AM (InformationLiberation)
[Category: Economy]


If the free market as Ron Paul advocates is embraced, "we will have no future," so says Elizabeth Warren.

Why? Simple, "roads."

Checkmate, anti-statists.

The comedy starts at 4
... (more)


French Farmers Torch Tax Office posted 09/22/2014, 11:20 AM (BBC News)
[Category: Economy]
French vegetable farmers protesting against falling living standards have set fire to tax and insurance offices in town of Morlaix, in Brittany.

The farmers used tractors and trailers to dump artichokes, cauliflowers and manure in the streets and also smashed windows, police said.
... (more)


The Dark Web Gets Darker With Rise of the 'Evolution' Drug Market posted 09/22/2014, 11:15 AM (Wired)
[Category: Economy]
In the digital drug trade as in the physical one, taking out one kingpin only makes room for another ready to satisfy the market’s endless demand. In the case of the FBI’s takedown of the Silk Road, the latest of the up-and-coming drug kingpins is far more evolved than its predecessor—and far less principled.... (more)


Wednesday September 17th, 2014

OECD Unveils New Global Fascist 'No Escape' Tax Regime posted 09/17/2014, 8:56 AM (Reuters)
[Category: Economy]
(Reuters) - New international tax rules proposed on Tuesday could eliminate structures that have allowed companies such as Google Inc (GOOGL.O) and Amazon.com Inc (AMZN.O) to shave billions of dollars off their tax bills.

The Organisation for Economic Cooperation and Development (OECD) announced a series of measures that, if implemented by members, could stop companies from employing many commonly-used practices to shift profits into tax havens.
... (more)


Sunday September 7th, 2014

Peter Schiff Interviewed by The Daily Bell posted 09/07/2014, 10:45 PM (The Daily Bell)
[Category: Economy]
"Personally, I think legalization of pot is a good trend. I wish they would legalize more drugs, not just state-by-state but on the federal level. I think the war on drugs has been a huge failure. As a result of the war on drugs, I think more people use drugs than would use them if we didn't have a war. But more importantly, we've driven up the price of drugs and therefore the profits for the criminals who deal in them. As a result our police are much more corrupt. We've helped to corrupt govern... (more)


Wednesday September 3rd, 2014

Arizona Statutory Rape Victim Forced to Pay Child Support posted 09/03/2014, 1:17 PM (AZ Central)
[Category: Economy]
Nick Olivas became a father at 14, a fact he wouldn't learn for eight years.

While in high school, Olivas had sex with a 20-year-old woman. As he sees it now, she took advantage of a lonely kid going through a rough patch at home.

State law says a child younger than 15 cannot consent with an adult under any circumstance, making Olivas a rape victim. But Olivas didn't press charges and says he didn't realize at the time that it was even something to consider.
... (more)


Monday September 1st, 2014

Leftist: 'Why Uber Must Be Stopped' posted 09/01/2014, 8:54 AM (Salon)
[Category: Economy]
What is Uber? A paragon of free market efficiency and technological innovation serving the greater convenience and comfort of the general public? Or living proof for why capitalist societies require regulation?... (more)


Ensuring Safe Food in a Free Market: A Lesson from China posted 09/01/2014, 8:54 AM (Cato @ Liberty)
[Category: Economy]
Many Americans view the dissemination and enforcement of food safety standards as a basic function of government, and it’s difficult for them to imagine a world where food is both safe and unregulated. Libertarians can point out that the safety of a product is, just like quality and price, something that consumers directly care about and as such will be most effectively preserved in a competitive free market. But it’s one thing to make abstract economic arguments and quite another to have real ... (more)


Saturday August 30th, 2014

Cost of Renouncing US Citizenship Goes From Free In 2010 to 450$, And Now It's Been Jacked to $2,350 posted 08/30/2014, 9:56 AM (InformationLiberation)
[Category: Economy]
Four years ago renouncing your U.S. citizenship rightly cost you nothing. As you are forgoing all the "benefits" you were going to receive, renouncing all said benefits saves taxpayers money (unless, of course, you're one of those evil, greedy, rich people who pays more into the system than you get out).

Despite this being the case, in 2010 a $450 fee was slapped onto people to charge them for the "service."

Now, that renunciation fee was just jacked up 42
... (more)


Tuesday August 26th, 2014

Tobacco and a Free Society posted 08/26/2014, 8:41 AM (Laurence M. Vance)
[Category: Economy]
Yet another successful lawsuit against a tobacco company, one that resulted in a jury’s awarding the widow of a tobacco smoker more than $23 billion because of her husband’s premature death, means that it is apropos to revisit the subject of tobacco and a free society.... (more)


Monday August 25th, 2014

Dark Net Drug Markets Kept Alive by Great Customer Service posted 08/25/2014, 8:29 AM (WIRED UK)
[Category: Economy]
In 1972, long before eBay or Amazon, students from Stanford University in California and MIT in Massachusetts conducted the first ever ecommerce transaction. Using the "Arpa-net" account at their artificial intelligence lab, the Stanford students sold their counterparts a small amount of marijuana. Ever since, the net has turned over a steady but small trade in illicit narcotics. But last year approximately 20 per cent of UK drug users scored online. The majority of them went to one place: the d... (more)


Thursday August 21st, 2014

Colorado's Illegal Pot Market Thrives posted 08/21/2014, 4:23 AM (Mises Blog)
[Category: Economy]
Not unexpectedly, Colorado’s illegal marijuana market has been reported as thriving. The reasons for this are pretty straightforward. First, it is a new and highly regulated market making it difficult to supply products and keeping legal marijuana prices high. Also, steep taxes on legal marijuana exceeding 30% also are keeping prices high.
"Camouflaged amid the legal medici... (more)


Monday August 18th, 2014

Neighborhood Bully - America Recklessly Throws its Weight Around posted 08/18/2014, 12:51 AM (Peter Schiff)
[Category: Economy]
On June 30, U.S. authorities announced a stunning $9 billion fine on French bank BNP Paribas for violations of financial sanctions laws that the United States had imposed on Iran, Sudan and Cuba. In essence, BNP had surreptitiously conducted business with countries that the United States had sought to isolate diplomatically (sometimes unilaterally in the case of Cuba). Although BNP is not technically under the jurisdiction of American regulators, and the bank had apparently not broken any laws o... (more)


Wednesday August 13th, 2014

Doug Casey on the Phil Donahue Show (1980/1981) posted 08/13/2014, 4:37 PM (YouTube)
[Category: Economy]


Doug Casey on the Phil Donahue Show promoting his book, "Crisis Investing", filmed on November 3rd, 1980 in the oldest known recording of Doug Casey.

This video is provided by The Dollar Vigilante and an overview of the video can be found at http://dollarvigilante.com/blog/2014/...


Tuesday August 5th, 2014

Americans Got $2 Trillion in Benefits from Federal Government in 2013 posted 08/05/2014, 4:57 PM (CNS News)
[Category: Economy]
(CNSNews.com) -- The federal government paid $2,007,358,200,000 in benefits and entitlements in fiscal year 2013 from government programs, according to data from the Bureau of the Fiscal Service’s Monthly Treasury Statement.... (more)


Tuesday July 29th, 2014

Yellen: Where No Man Has Gone Before posted 07/29/2014, 8:56 AM (Peter Schiff)
[Category: Economy]
Although Fed Chairwoman Janet Yellen said nothing new in her carefully manicured semi-annual testimony to Congress last week, her performance there, taken within the context of a lengthy profile in the New Yorker (that came to press at around the same time), should confirm that she is very different from any of her predecessors in the job. Put simply, she is likely the most dovish and politically leftist Fed Chair in the Central Bank's history.

While her tenure thus far may feel
... (more)


Marc Faber Responds To CNBC Mockery, Asks "How Has CNBC's Portfolio Done Since 1999?" posted 07/29/2014, 8:56 AM (Zero Hedge)
[Category: Economy]
Having provided his clarifying perspective on why the markets are extremely fragile and due for a 20-30% correction, Marc Faber was assaulted by CNBC's Scott Wapner reading off a litany of recent calls that have not worked out as planned. ... (more)


Friday July 25th, 2014

America's Dumbest Move Yet: Seizing A Foreign Bank posted 07/25/2014, 6:12 AM (Zero Hedge)
[Category: Economy]
Ten dark suited men entered the premises of FBME bank in Cyprus on Friday afternoon and took it hostage.

It must have looked like a scene from the Matrix. And given the surrealism of how this conflict is escalating, maybe it was.

The men were from the Central Bank of Cyprus (CBC). And they commandeered FBME because an obscure agency within the US government recently issued a report accusing the bank of laundering money.
... (more)


Thursday July 24th, 2014

The "Gates" Are Closing: SEC Votes Through Money Market Reform posted 07/24/2014, 7:08 AM (Zero Hedge)
[Category: Economy]
It was nearly five years ago when Zero Hedge first wrote: "This Is The Government: Your Legal Right To Redeem Your Money Market Account Has Been Denied" in which we predicted as part of the ongoing herding of investors away from every other asset class and into stocks, regulation will be implemented to enforce that "money market fund managers will have the option to 'suspend redemptions to allow for the orderly liquidation of fund assets" or in other words implement redemption "gates." The logic... (more)


Monday July 21st, 2014

California City Will Fine Couple $500 For Not Watering Brown Lawn, State Will Fine'em $500 If They Do posted 07/21/2014, 4:36 AM (Consumerist)
[Category: Economy]
When you’re in a steady relationship, communication is clear. Because when mom says to do one thing, and dad says another, the kids get really confused. Such is the case in California, where the state has issued rules for homeowners to conserve water in the midst of extreme drought, with fines of $500 per day or violating those guidelines, but ... (more)


Thursday July 17th, 2014

Carbon Tax Gone – Australia First Country to Get Rid of a Price on Carbon posted 07/17/2014, 2:25 AM (Joanne Nova)
[Category: Economy]
As of today, Australia no longer has the most expensive “carbon” price in the world. The voters didn’t ask for a tax in 2010, but it was forced on them in 2011. They rejected it wholeheartedly in 2013 but it still has taken months to start unwinding this completely pointless piece of symbolism which aimed to change the weather. The machinery of democracy may be slow, but this is a win for voters.... (more)


Thursday July 10th, 2014

Block on CNBC: Privatize the Roads posted 07/10/2014, 5:26 PM (Mises Blog)
[Category: Economy]
Walter Block explains road privatization on CNBC:
... (more)


Google's Larry Page: "I Think the Government's Likely to Collapse Under Its Own Weight." posted 07/10/2014, 5:26 PM (Reason)
[Category: Economy]
Over the weekend, Google co-founders Sergey Brin and Larry Page sat down for a rare joint public interview with venture capitalist Vinod Khosla, in which the three billionaires reminisced about how Brin and Page nearly sold their groundbreaking search technology to Excite for $1.6 million in 1999 (Google's market capitalization is n... (more)

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Psychotic Vegas Cop Filmed Beating Man For Filming In Viral Video Queitly Hired By Another Dept. - 12/17Cops Called For Wellness Check Beat Innocent Man, Pile On False Charges; Jury Exonerates, Twice - 12/17Cop Stops Fellow Cop From Choking a Handcuffed Man, She Was Then Beaten and Fired - 12/18Cop Was Not Fired Despite 75 Counts of Stalking and Harassment -- Now He Just Shot a Mother and Her Daughter - 12/17Ontario Cop Sucker-Punched Good Samaritan Grandmother & Broke Her Leg With Karate Kick - 12/17Ignorance Is No Excuse for Wrongdoing, Unless You're a Cop - 12/17Florida Cop Gets Schooled in Law After Harassing Man for Playing Rap Song, "F**k tha Police" - 12/16Police Using Social Media Posts to Determine "Threat Score" of Suspects - 12/16

Rialto, CA Police Made to Wear Cameras, Use of Force Drops by Over Two-ThirdsCop Who Karate Chopped NY Judge In Throat Gets Off Scot-FreeFlorida Cop Smashes Compliant Woman's Face Into Car -- "Maybe Now You Can Understand Simple Instructions"VIDEO: Lapel Cam Reveals A Day In The Life Of A U.S. Police Officer (Tasing, Beating, Breaking & Entering, Stomping On Heads... and Laughing About It)Caught On Tape: Officer Sucker Punches Inmate In Face, Files Report Claiming 'Self Defense'Insult Person On Twitter, Go To JailSWAT Team Brings TV Crew To Film Raid Against Threatening Internet Critic -- Raids Innocent Grandma InsteadCop Karate Chops NY Judge In The ThroatWhen the Right to Resist Becomes the "Duty to Submit"The Missing Lesson From Norway: Never Trust a Man in Uniform
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