LMR – June 2020

One of Carlos’ most memorable series was his three-part, “Who Runs the World?” (August-October 2013 in the LMR). We both knew that we ran the risk
of scaring our conventional readers with so-called conspiracy talk, but we thought it was vital to document Carlos’ painstaking research, using quite reputable sources, to show the interconnections that made sense out of the seeming chaos unfolding before our eyes.

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LMR – May 2020

These are difficult times for Americans and indeed people around the world. Not only has the coronavirus killed hundreds of thousands and—in conjunction with (counterproductive) political interventions—brought the global economy to its knees, but it has all happened so remarkably fast. It was only three months ago when most of us didn’t really know much about the “novel coronavirus” at all.

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LMR – April 2020

First things first: We sincerely apologize for our unplanned hiatus. We won’t elaborate on our excuses, but a combination of challenges on our homefronts (including a new baby for Bob!) and the…unusual…events of March, led us to revamp our originally planned December 2019 issue, to give you this April 2020 version instead.
To be clear, in this issue, Carlos’ article and the interview with David Lesperance were prepared in December 2019, well before any of the current crisis hit. But ironically, both of these pieces are now even more poignant.

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LMR – November 2019

There are many reasons to feel hopeless. It’s not just our governing institutions, but even our fellow citizens, who seem to be going crazy. (And to be fair, many of them think we’re crazy!)
At times like this, the two of us are relieved to know that saving the world isn’t up to us. (It’s good for all of you reading that this is the case.) We have placed our faith in someone with infinitely more wisdom, power, mercy, and justice than the hypocritical “authorities” who are actively debasing our money and provoking low-grade wars around the world.

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LMR – Oct 2019

“When government gives you the solution—i.e., tax-qualified plans—to the problem it created—i.e., onerous taxation—don’t you get just a little bit suspicious that you’re being manipulated?”
— R. Nelson Nash
We both heard Nelson say the above quote (or some version of it) numerous times over the years, when he would talk to the public about our financial landscape here in the United States. One of the chief objections to implementing IBC is that “everybody knows” the responsible thing to do is max out your contributions to a tax-qualified investment vehicle, such as a 401(k) or a 403(b).

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LMR – August/September 2019

Just about everybody recognizes there are growing problems in the financial markets—that’s why the Fed is engaging in emergency operations to soothe the repo market, for example. Yet the conventional Keynesian models that ostensibly guide monetary policy are far too crude to handle the subtleties involved. Simply put, the economists running the Fed are better than their models. Even so, their task is an impossible one: No one should be in control of money and banking.

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LMR – July 2019

There are many alarming developments afoot, in not just the financial markets but also the political cycle and the broader culture. Those of us on social media can attest to the growing hatred between different factions in America, fueled by the presidential
campaign. Whether it’s the “Deep State” coup against the Trump Administration, or the extremely dubious details of the Jeffrey Epstein affair, the notion that there are dark and powerful forces at work behind the scenes can no longer be dismissed as a paranoid fantasy.

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LMR – June 2019

Say what you will about dictatorship, but at least its victims don’t have to suffer through political campaigns. As the Democrats keep one-upping each other with promises on the minimum wage, health insurance, student tuition, the “Green New Deal,” and even a federally guaranteed “basic income,” Americans are realizing with growing astonishment that Trump may very well be re-elected— notwithstanding a full-court press assuring the public that he was personally installed in office by Vladimir Putin.

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LMR – May 2019

In a twenty-first century world of “fractional reserve banking,” long-term zero, and near zero interest rates, and now even the idea of “Modern Monetary Theory (MMT),” the natural market rate of interest has all but disappeared. But the wisdom of Frédéric Bastiat pierces through our present rate of interest debates and acts as a type of compass to help reorient us back to what rate of interest is economically sound and moral. Although the subtleties of the presentation would benefit from the later development of subjective value theory (from the hands of Carl Menger in 1871), nonetheless it is impressive how intuitively and passionately the classical economist Bastiat describes and defends the market economy.

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LMR – April 2019

Friedrich Hayek, in much the same way as Mises and every great economist going back to Adam Smith and beyond, had to defend the principles of the capitalist system to his own generation anew. Is that because once a free society is achieved we take it for granted and we no longer value it? Must we sink into totalitarian darkness before we can realize what we have lost?
Hayek concluded that this might actually be the case, even though he wished that it weren’t true. What he could not ignore was the fact that so long as there were people who were continually attracted to socialist ideals the socialist trend would persist.

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