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Any society that would give up a little liberty to gain a little security will deserve neither and lose both.
- Benjamin Franklin


7/31/2014
CIA admits to hacking Senate computers
After denying the CIA spied on Senate investigators, CIA director John Brennan admits the truth. Maybe someday the CIA will admit what it knows about JFK and 9/11.  full article...
7/31/2014
Financial Times: US banks could lose $1 trillion when Fed hikes rates
The consequences of higher Fed rates may force banks to also pay higher rates to keep depositers from leaving.  full article...
7/31/2014
Wall Street tumbles, Dow, S&P 500 turn negative for July
Who'd a thought.  full article...
7/31/2014
Plunge in mortgage-debt prices signals new risk in bond markets
In the end game, stock and bond markets are no longer save havens.  full article...
7/31/2014
Chicago business barometer tumbles to lowest rate in a year
Economists expected the Chicago business index to rise in July. Instead it plunged 20%, the steepest drop since the 2008 crisis.  full article...
7/31/2014
US job cuts soar in July
The Fed slows its life-support of the US economy and job losses rise. Who'd a thought.  full article...
7/31/2014
Kellogg cuts sales forecast as US cereal sales fall
American consumers are seeking cheaper alternatives to name brands as food prices rise.  full article...
7/31/2014
HSBC whistleblower: Banks are financing terrorism
Banks' only loyalty is to the bottom line.


 full article...
7/31/2014
Eurozone inflation rate drops further to 0.4%
The continuing deflationary collapse in demand forced EU prices even lower in July. The EU is now walking the same deflationary gangplank Japan has been on since 1990. Good luck.  full article...
7/31/2014
Portugal's third largest bank posts 3.5 billion euro loss in 1st half of 2014



 full article...
7/31/2014
EU power prices set for biggest gain in 10 months on sanctions
The EU pays for levying economic sanctions on Russia.  full article...
7/31/2014
Rosneft moves to thwart EU sanctions with Norwegian rigs
What Russia can't get from the EU, it leased from Norway.  full article...
7/31/2014
Argentina in technical default on some debt, but no repeat of 2002 economic meltdown expected



 full article...
7/31/2014
Fresh Israeli shelling hits UN school injuring scores of children



 full article...
7/9/2014
Impact on camera: Moment Israeli shell hits crowded Gaza Square



 full article...
7/31/2014
US rearms Israel as its war crimes mount
Were it not for US money and arms, Israel's apartheid-driven cruelty would end.  full article...
7/31/2014
Torrential rain causes widespread flooding in SW Romania
Record heat, record cold, fires, floods, famine, etc. The earth changes are here.


 full article...
7/31/2014
India: Entire village buried under massive mudslide
The earth changes are here.


 full article...
7/31/2014
Tornado/waterspout caught on tape in Croatia
More extreme weather.


 full article...
7/31/2014
Japan's retail sales drop in challenge to Abe reflation
Shinzo Abe's attempt to end Japan's 24-yr deflationary spiral has turned out to be no more successful than those of his predecessors.  full article...
7/31/2014
Japanese economy reels from tax rise
Japanese GDP contracted at a 7.1 annualized rate in the 2nd quarter. Deflationary forces are growing, not diminishing.  full article...
7/31/2014
Hong Kong June retail sales fall more than expected
Hong Kong sales fell in June at almost twice the rate they dropped in May.  full article...
7/31/2014
Credit crunch starting to hit smaller Chinese firms
Credit-fueled growth is slowing as credit disappears. Who'd a thought.  full article...
7/31/2014
Zhou Yongkang: a recap of two years of fun rumors
Zhou's fall from power has been accompanied by unsubstantiated rumors. That doesn't mean they're not true. It only means the govt refuses to substantiate the truth.  full article...
7/31/2014
Zhou Yongkang's long fall began with Bo Xilai affair
A unexpected series of events led to the fall of one of China's most powerful leaders.  full article...
7/31/2014
Rice sales plunge after GM rice found in central China
Rice sales fell 80% after after rice sold at supermarkets tested positive for genetic modification.  full article...

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DARRYL ROBERT SCHOON: Inflation - Up, Up and Away
Inflation is a monetary phenomena that can destroy currencies and buying power in the blink of an eye. Economists' have temporarily forgotten about inflation as its equally dangerous twin, deflation is back. They shouldn't forget about inflation. They may be rudely reminded of its presence and soon. full article...


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Dollar & Sense, Show 58, Power
Power is not what people believe it to be. Power IS what IS.


 full article...


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US wages and savings



GoldSilverWorld: Marc Faber - Expect a deflationary collapse in asset markets
Claudio Grass of Global Gold Switzerland interviews Marc Faber on China, gold and where markets are headed. Worthy of thought and reflection.  

full article...
Nikkei Asian Review: Middle East chaos - History of intermixing ethnic groups, religions, states
Existing national boundaries in the Middle East were drawn by Western powers without regard for existing groups. Today, those lines are being redrawn. Worthy of thought and reflection.  

full article...
Off The Grid: Jesse Ventura interviews Matt Taibbi, pt 1
The former governor of Wisconsin interviews the former Rolling Stone investigative journalist on what went wrong in America. Worthy of thought and reflection.


 

full article...


Last week tonight with John Oliver: Russia - Go get those geckos




full article...


The truth is out there in Germany



 full article...
Turkey's women have the last laugh
Religion is the last refuge of misogynists.


 full article...
More mysterious craters found in Russia's remote Siberia



 full article...


'Black Coffee' by Humble Pie





full article...


Dollars and Sense, Show 4, Access Tucson, Darryl Robert Schoon

Darryl Robert Schoon talks about the death of free markets on Dollars and Sense. He explains how credit and debt fatally distorts supply and demand.



DRSCHOON.COM features the articles of Professor A. E. Fekete of the New Austrian School of Economics, a leading expert on gold and its role in financial markets and the economy.

The Wisdom of Adam Smith for Our Own Times

- A Rejoinder -

Let us celebrate the 291st birthday of the great Scottish economist together and let us rehabilitate his Real Bills Doctrine!

Richard Ebeling in the June 3rd issue of the Daily Bell under the same title contributed a much needed reminder of the relevance of Adam Smith's wisdom to our contemporary world. I am not going to speculate whether the omission of not mentioning Adam Smith's Real Bills Doctrine was accidental or deliberate. However, it is well known that post-Mises Austrian economists have taken a disdainful view of the Real Bills Doctrine and it would have been nice to have Ebeling's coherent articulation of their position. I can do no better than revisiting Adam Smith's great contribution to the theory of money and credit (which, significantly, received the nihil obstat of Carl Menger a hundred years later) for the benefit of the Daily Bell's readership. full article...

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