LMR – October 2015

What is Money? Wealth is bread for the hungry, clothes for the naked, and shelter from the storm. It is education, independence, dignity, confidence, and charity. Wealth is the honorable result of labor and exchange. Money is not wealth. Nearly everyone gets this confused.

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LMR – September 2015

As we discussed the tumultuous drops in the stock market, R. Nelson Nash—founder of the Infinite Banking Concept (IBC) and author of Becoming Your Own Banker—remarked that the shocked Americans hadn’t really “lost” any of their retirement savings, because the market values of these assets had been fictitious.

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LMR – August 2015

Claude Frederic Bastiat (1801-1850), the renowned French debater in the Austrian School tradition, was both enlightening and humorous in his description of credit. From the very beginning of his discourse he makes us smile by saying that its entire basis is “an optical illusion.”

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LMR – July 2015

One would think that the average rational person could easily see, not only the destructiveness of war, but also its pointlessness. What sound thinking human being would even want to go to war? Yet wars never seem to leave us. What is behind this eternal madness? Here is a clue.

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LMR – June 2015

“Actions speak louder than words.” This familiar slogan has been with us for a very long time, possibly since the beginning of reason. It is so easily understood by most of us that it is practically indisputable. We can give voice to much, but our actions certainly demonstrate our true intentions; they testify that humans have desires and these wants are made visible by our choices.

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LMR – May 2015

The caged bird sings
with fearful trill
of the things unknown
but longed for still
and his tune is heard
on the distant hill for the caged bird
sings of freedom
“The Loneliness of the Long Distance Runner” is a story about an angry unemployed young man from a
poor working class family in the 1950s who comes to realize that the creation of the welfare state was
essential for creating a mass consumption economy in order to control the masses.

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LMR – April 2015

Here is an important reminder about building the 10%. Achieving it can be described as the process of tapping the power that resides in the vital few so that our ideas can reach this critical boiling point and overflow to the masses. However— “The genesis for change must start with the individual. It must have the individual as the principle criterion and spread out and up from there.”

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LMR – March 2015

An interesting story on NPR discusses the group, “Women on 20s” to replace Andrew Jackson’s mug with a female alternative. We were fascinated to hear that the spokeswoman of the group, Susan Ades Stone, explain why Jackson was the ideal person to swap out: “Ades Stone says the seventh president has a “checkered legacy,” including driving Native Americans out of the southeast. And, she says, Jackson didn’t even like paper money. “He happened to have been a fierce opponent of the central bank and of paper money. He believed that gold and silver coin was the only legitimate money.”

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LMR – February 2015

For years we’ve been saying that Keynesianism has run its course because central bankers pushed nominal interest rates down to zero and still economies sputtered. Well, now nominal interest rates in major European countries—including Denmark, Sweden, Switzerland, and Germany—are actually negative.

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LMR – January 2015

We all certainly know what the problem is. Or at least, we all should know by now. Certainly nothing could be clearer to us than the stark realization that the strategy our leaders are advocating and implementing has helped no one except a small elite group of politicians, bureaucrats and bankers at the expense of everyone else. It is an age-old problem that has grown only worse with the passage of time.

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