Videos about how to invest, investing in gold and silver, and economics 101
In the Halloween spirit, this week’s video features a zombie interviewing Thomas E. Woods, Jr. on the topic of nullification. Woods is the New York Times bestselling author of 11 books and senior fellow of the Ludwig von Mises Institute, who holds a Bachelor's degree in history from Harvard and his master’s, M.Phil., and Ph.D. from Columbia University.
Nullification is the states’ right to invalidate unconstitutional federal decrees, as the states are the signators to the constitution; in other words, the states and their Supreme Courts determine whether the federal government is operating within its limited powers as prescribed in Article 8 of the U.S. Constitution. The idea that the federal government will be the ultimate arbiter of the constitutionality of federal government actions (LOL) was made up by John Marshall, the fourth chief justice of the U.S. Supreme Court.
As Tom Woods notes, nullification was codified in Kentucky and Virginia in 1798 and has been used since on many occasions to defend what citizens of a state viewed as morally right. For example:
In 1850, fugitive slave laws made Americans into slave hunters, and Wisconsin resisted the federal decree, nullifying the law that made “the free soil of Wisconsin made the hunting ground for human kidnappers.”
Besides the unconstitutionality and immorality arguments, what was the reason for nullification of the fugitive slave law according to Wisconsin? To protect the structure of the country, and guard against future infringements… some of which have come to pass already:
Of course, for Americans, habeas corpus and a right to a trial is gone as of 2012, when anyone deemed by the federal executive branch can be held indefinitely without due process. Both 2012 the two leading presidential candidates support this new position. Many states may see this as unconstitutional and within their abilities may “oppose in a constitutional manner” or otherwise ignore federal over-reach.
We wrote on June 28 that the healthcare decision written by U.S. Chief Justice John Roberts implicitly supports nullification in that the federal government can’t threaten to withhold Medicare funds from states that don’t fully comply with the new law. Again, did you see it? The idea of a state declining to comply (page 4, section 5 of the decision, “decline to comply”). To further gather information on the frequency and correlation of thought contained in the court opinion, the word cloud below clearly summarizes the issue at stake and the crux of the decision missed by all in the lamestream media:
We documented Texas and Arizona initiatives to nullify on July 12 here. The original idea of the founders to create a country where each state was unique is logical and respectful of freedom, and in this way people can vote with their feet in a more stable, decentralized system.
Other forms of unconstitutional federal mandate have generated opposition in other parts of the country. In Utah and 12 other states, gold and silver are being codified as money and acceptable to the state as a medium of exchange. We could imagine a group of states eventually petitioning the federal government to remove tax on silver and gold money along with ignoring the federal legal tender laws locally within the states. Nullification is already happening in this manner as Utah deems silver and gold as legal tender. Although gold and silver money are not federal policy today, state legislatures seem to feel the freedom to choose is reserved to their constituents rather than authorized by some argument that a monopoly on money is mandated in the Constitution’s Article 8. Which it isn’t.
The federal government can assign weights and measures, and emit debt, but can not legally enforce a monopoly that makes modern slavesof its citizens based on the silent tax of inflation enabled by the monopoly.
As Thomas Sowell says: “Not since the days of slavery have there been so many people who feel entitled to what other people have produced as there are in the modern welfare state, whether in Western Europe or on this side of the Atlantic.”
In this throwback to Halloween the video puts forth zombified arguments against the beautiful history of liberty revisionists strive to rewrite. The whole people did not ratify the U.S. Constitution; slaves and women were excluded, and each state ratified the onstitution explicitly as seen in Article 7. The constitution applied “only to those states that ratified it, and it would be valid for all states joining after.” So the idea that federal power is derived from the will of the whole people, or even the idea that the states all agreed in unison, are easily refuted lies. The fact is and always has been that solely the constitutional powers afforded to the central, concurrent, secondary government were authorized by the individual, sovereign states. In no area is this topic more important than to the elimination of poverty, for only with a legal means to save without the parasitic devaluation of the currency is such a dream obtainable.
As self-made Mexican billionaire Hugo Salinas Price wrote recently,
When the people of the world begin to return to regular use of gold and silver coin in exchange, you will be able to watch demand for the metals peg to infinity, as demand for money is never-ending.
On which side of the fence will you stand when the chips begin to fall? Exchange out of the paper banknotes issued as the liability of the Federal Reserve now, before the dollars (as they are more commonly called) lose even more value against gold and silver coin.
The video lecture Why the Constitution Had to Be Destroyed (and how they did it) exposes much of the attempt revisionists make in rewriting historic fact to promote the view of Alexander Hamilton and John Marshall that power and leadership should be centralized and supreme rather than decentralized, limited and local.
Will green lithium technology raise the Bolivian people out of poverty? Or will incompetent government management spoil lithium’s promise?
That idea that liberty is more closely linked to security than it is to freedom from government intervention is still really important in the way we think about liberty today.
“Unlike a bank with a govt-sheltered monopoly, no private bank in a free banking system can attract customers if it makes risky strategies, like holding inadequate reserves or making risky investments...”
PBS Hawaii roundtable: Native Hawaiian leaders share their diverse views on the democratic process, sovereignty.
“The $17 trillion is an almost unimaginable number,” Napolitano says.”It’s almost incomprehensible what that amount of cash would look like. It would fill several football stadiums, even if they were in $100 bills.”
“Economics is a set of eye glasses, and when you put them on you bring the world into sharp relief,” Boettke says.
The way the monetary system works, Connell explains, is the government makes a currency note and says, ‘This is money.’ Just like McDonald’s makes nuggets and says, ‘This is chicken.’ McDonalds is selling “fiat chicken.”
If the government came in and slashed the price of oil or steel, “that actually wouldn’t be doing anybody any favors”—the price is “not communicating the genuine scarcity of that particular commodity, and so the market can’t allocate it properly.”
“When people get at each other’s throats, the rich and the poor, the left and the right, and so on, and you have a basic breakdown, that becomes very threatening…. I worry about social elements.”
Another child explains how she copes when her father doesn’t have money to buy food: “So what I do is just drink some water from the fountain,” she says. “Until my stomach’s full of water.”
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