Week in Review

Quote of the week

“[B]efore any politico can act, they must first have a distraction, a fall boy, a pretense, a reason for rescuing us from the horror that is our own decision-making capacity.” – Joel Bowman

The War on Digital Currency

by Joel Bowman

“How many Senators does it take to change a light bulb? Oh, wait, we’ve got a better one: How many Senators does it take to dismantle a cryptographically secured, completely decentralized, Peer-to-Peer (P2P) network of voluntary, free market traders exchanging goods and services across six continents using tens, perhaps hundreds, of thousands of individual computers and some of the most advanced cyber technology and software coding known to date?” more… [A very good article. Check it out.]

The Case for Ron Paul for President

by Jesse Benton

“Ron Paul is the only presidential candidate who would cut enough spending to avert a debt crisis. Only he will restore constitutionally sound money. And, only he will strengthen our national defense by bringing our troops home and putting an end to the nation-building that is draining our country.” more…

U.N. Agreement Should Have All Gun Owners Up In Arms

by Larry Bell

“It may not come as surprising news to many of you that the United Nations doesn’t approve of our Second Amendment. Not one bit. And they very much hope to do something about it with help from some powerful American friends. Under the guise of a proposed global “Small Arms Treaty” premised to fight “terrorism”, “insurgency” and “international crime syndicates” you can be quite certain that an even more insidious threat is being targeted – our Constitutional right for law-abiding citizens to own and bear arms.” more…

Regulars

Other Stuff

And now the numbers…

DOW Jones Industrials – 11,951.91 (-199.35/-1.64%)
S&P 500 – 1,270.98 (-29.18/-2.24%)
VIX – 18.86 (+0.91/5.07%)
CSI 300 (China) – 2,961.932 (-24.417/-0.82%)
BSE 500 (India) – 7,151.82 (-28.91/-0.40%)
MICEX (Russia) – 1,683.96 (+50.94/3.12%)
BOVESPA (Brazil) – 62,697.16 (-1,643.34/-2.55%)
Nikkei 225 (Japan) – 9,514.44 (+22.23/0.23%)
RICI (Commodities) – 4,138.79 (-2.47/-0.06%)
Oil/bbl (Brent) – 118.78 (+2.94/2.54%)
Corn/bu – 712.50 (-41.50/-5.50%)
Wheat/bu (CBT) – 759.25 (-14.50/-1.87%)
Rough Rice (CBOT) – 14.895 (+0.42/2.90%)
Copper/lb – 407.55 (-5.90/-1.43%)
Gold/oz – 1,529.20 (-13.20/-0.86%)
Silver/oz – 36.327 (+0.136/0.38%)
EUR-USD – 1.4347 (-0.0288/-1.97%)
USD-JPY – 80.323 (-0.0135/-0.02%)
USD-BRL – 1.5971 (+0.0208/1.32%)
NZD-USD – 0.8214 (+0.0057/0.70%)
3 Month Treasury – 0.04 (+0.01/33.33%)
2 Year Treasury – 0.40 (-0.02/-4.76%)
10 Year Treasury – 2.97 (-0.02/-0.67%)
30 Year Treasury – 4.18 (-0.04/-0.95%)
3 Month LIBOR – 0.25 (UNCHG)
U.S. Public Debt (official) – 14,344,638,149,810.50 (-68,287,231.00/-0.00%)
Baltic Dry Index (BDIY:IND) – 1,418.00 (-71.00/-4.77%)

Whew! Last week just flew by. Baby Girl is napping right now and Wonderful Wife is at work, so I was able to find a bit of time to finish this up for the week.

We’ve got some work to do in the garden today, planting just the last few seedlings that we sprouted. I’ve got one jalapeno plant and one poblano plant, and also some basil. And then after that we sit back and watch it all grow. I have high hopes for the peppers. Baby Girl just likes to play in the dirt.

The surveillance ordinance in Ann Arbor is moving forward with the Human Rights Commission’s blessing. In the end I am somewhat unhappy about that. Basically it says that the cops can put up cameras to monitor both residential and commercial areas, but that in residential areas every resident living within range of the camera must approve. Live monitoring is not allowed except under “emergency” conditions, which means that the technology to perform live monitoring will be available. The ordinance would be much better if the technology for live monitoring was explicitly disallowed.

But admitting to any cameras at all is just plain bad news. An outright ban would be much better, but it’s not politically feasible.

On the other hand the ordinance sets down the rules for the police department before they just go put the cameras up on their own, which at this point they could. Also I have heard that the chief of police would have cameras everywhere if he could afford them.

Yikes!

Anyway, with attitudes like that around, it reminds me why taking approaches which starve the beast are necessary. If only the beast in Washington didn’t having a printing press… Hard to starve it when it can feed itself.

And that’s key. The state’s power to counterfeit is liberty’s biggest threat. So needless to say BitCoin could become a very serious issue. Of course most people reading this readily understand that. If not please have a peek at Murray Rothbard’s, The Case Against the Fed sometime. You can get it online for free. I hope it opens your eyes. You might also check out F.A. Hayek’s article “A Free-Market Monetary System“, which is also available online.

So that’s it for this week. Have a great weekend!

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