Greetings From FreedomFest

457
Fri, Jul 13, 2012 - 12:57pm

As part of my "vacation", I've spent the last two days at "FreedomFest" in Vegas. It has been terrific.

FreedomFest is a 3-day conference revolving around libertarianism and Austrian economics. Yep...right up my alley. And it was in Vegas! Also, right up my alley.

In the past two days, I've met with Ranting Andy and Mike Krieger. I've been interviewed by Kerry Lutz of the Financial Survival Network and I've made the acquaintance of Rick Rule of Sprott and Pat Heller of Liberty Coin Service. All of this was very cool.

However, the main thrill was yesterday. I attended a small luncheon where Steve Forbes introduced The Judge. Judge Napolitano went on to speak to the group for about 30 minutes and then field questions. I got my picture taken with him and he also gave me his business card. I hope to finally schedule that podcast that I've been dreaming about! Again, very cool. The Judge then gave a 45 minute speech to the entire convention. He's just awesome. Great stuff.

Great stuff in the metals today, too. The Big Bad Wolves huffed and puffed again yesterday but once again failed to bring the house down. Santa was right in two fronts: One, they attacked and two, they failed. By no means are we out of the woods yet but nothing too scary, either. Gold remains firmly within it's 10-week basing and bottoming range of 1535-1635. Silver, too, is still in its 27-29 range. The good part of these ranges is this: Once we break out and UP...and we will...it will be clear to absolutely everyone with half a brain that the metals have bottomed. The shorts will either get frightened or squeezed and prices will move up rather quickly. Just be ready.

Two interesting news items I found while surfing with my phone this morning. First, this link to ZH. You should check it out. https://www.zerohedge.com/news/cme-gold-collateral-and-its-unsurprising-london-based-custodian

And then, while at ZH, I saw that Swiss 2-year note is now yielding negative .43%. NEGATIVE POINT FOUR THREE PERCENT! The Germans are also getting in the act as their 2-year is now -0.05%. This is truly incredible. On a hypothetical new issue, for a 1,000,000 franc, Swiss 2-year note, you would have to pay the Swiss government about 10,000 francs for the privilege. Are you freaking kidding me? You've heard me mention ad nauseam how negative, real rates are extraordinarily bullish for gold. How about just plain, old negative rates?? Holy Toledo! https://www.zerohedge.com/news/swiss-2y-rates-plunge-43bps-all-trust-lost

Lastly, as we continue on our trip down Memory Lane, perhaps today would be a good day to review this idea of negative real interest rates. I wrote this piece back on 2/1/12 and today is as good a time as any to go back and review it. https://www.tfmetalsreport.com/blog/3325/case-you-missed-it

OK, that's all. I have to head to the airport soon so I better wrap this up. Please check back later today though as I plan to update this thread with thoughts on the CoT, once it's out. I probably won't be able to do it until this evening, however. It should be an interesting report. For the reporting week, gold was down $42 while total OI rose by 2000 or so. Silver was down $1.40 and saw its total OI climb by 1400.

Have a great weekend!

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  457 Comments

wonderer
Jul 14, 2012 - 1:51pm

Wondering about Tuesday

It should be a newsworthy day. Tensions and stresses will be running high.

I expect something to happen, but do not know what.

rl999
Jul 14, 2012 - 1:53pm

@ IRB

Do you truly think that powerful people don't work in a cooperative fashion to further their own goals? That they might do so out of sight because the things they are discussing and planning might not be fully legal, or acceptable in societal norms?

How you can make such a blanket statement and hope to be taken seriously is beyond me. There have been thousands of conspiracies proven, and many of them started out as "far-fetched", "unrealistic", "unbelievable". You have heard about Liebor right? I dare say that is a conspiracy, or was until it was brought to light. It could be reasonably stated that it affected almost every human on the planet, at least every one that engaged in anything effected by interest rates.

I always respond to questions and comments, and I would love to hear you explain that there are no "secret societies / cabals" operating in the world. (Cartel)

Touchy about hat tips? I post things that I think will add value to the community as a whole. If people didn't like what I added they wouldn't hat tip it. I do get posts that recieve 0, and I also self moderate. The goal here is the end of the experiment, how we all interpret that, and how we choose to prepare should be an item of discussion.

Main st. has declined noticeably in the recent past, and the reasons are obvious. We are wildly off topic, engaged in war with other members over topics that shouldn't even be here, and ignoring the purpose of the site.

Libero Colonel Angus
Jul 14, 2012 - 2:00pm

Angus

You state, "...instead of having one much larger entity tell me how things must be distributed even if it makes no sense to anyone involved..." and I know you know what you are talking about but really, I cannot relate to your generalizations. I follow this site, I am a Hard asset guy, I believe in guns, freedom and all that stuff, but in my real life world I do not experience all this "larger entity" (government) controlling my life and that things are being "distributed". The more you and others explain this stuff the more blah blah blah I hear. There are movements and theories of social behavior and tons of ...isms, but it all comes down to how the individual feels about their personal everyday life.

I am not afraid. You are.

tmosley
Jul 14, 2012 - 2:01pm

From what little I have read

From what little I have read of Dagney's posts (I must confess to skimming or skipping most posts that start with @someones name here, unless it is directed at me), she strikes me very much as having a personality like that of Ann Barnhardt. So much so that I wouldn't be surprised if it really was her. This includes both positive and negative characteristics. As with Ann, I would simply take her with a pinch of salt if I found myself in a disagreement with her.

That said, I have read so little of what she said in this thread, or of what people have said regarding her that I could be totally missing something. I have enough time to savage socialists/fascists and to discuss relevant topics with people in some depth, but not enough to bother with squabbles between different branches of libertarians.

Also, seniority is meaningless in most cases. Whether someone has been somewhere for three weeks or three years is of little consequence. Whenever I join a new community, I jump right in, and don't hesitate to cut straight to the bone if I see someone saying something that I strongly disagree with.

Sharer
Jul 14, 2012 - 2:01pm

David Mcwilliams Punk Economics

A few thoughts on the state of the global economy.

Punk Economics 5: China Panics, US "Recovers" and Germany Flinches
Magpie
Jul 14, 2012 - 2:02pm

@DT

I find the majority of your comments irksome. Until now I've resisted the urge to say anything, but you have gone too far. Lay off the personal attacks. Many of us have been together for years now.....when you attack one of us you shouldn't be surprised when the rest of us get pissed off.

Have you ever posted a link to a good, solid bit of information that might help anyone here? I can't remember any.

I find it hard to believe that you're here to be part of the solution.

Dagney Taggart
Jul 14, 2012 - 2:06pm

Thanks Bsong

I'm clearly not as good of an orator and Colonel Angus or tmosley, obviously. Perhaps it stems from working in a profession where time is big money and that when one doesn't base their thinking on facts, big and expensive things fall down with real consequences. Summer is for construction and vacation, winter is for design.

Edit: Signed, cabalista

Dagney Taggart
Jul 14, 2012 - 2:12pm

@Magpie

Being together for too long leads to groupthink and false paradigms. I must admit, this diagram from Jesse (cited for the 3rd time now) is absolutely useless....

I Run Bartertown
Jul 14, 2012 - 2:14pm

rl999

Somehow, you have misunderstood me terribly. Not at all what I meant. I'll PM you.

It was about here on this site, and the accusations of a 'cabal' coming from the same 'tightly knit group of friends'. Again.

Edit: Did anyone else pick up on the delicious irony of me criticizing vague, only to fail at making my own self clear? Doh! Gotta laugh at meself...

Colonel Angus
Jul 14, 2012 - 2:16pm

In response to Libero

Let me spell it out in plain terms for you with one example.

I go to the grocery store and the three people in front of me use SNAP cards. I'm feeling like the one idiot who pulls fiat out of my pocket to feed my family and me. Now I see a guy with the "Hungry, please help" sign on the side of the road. I can't help but thinking of the people in front of me with the SNAP cards. I'm less likely to pull over and hand this guy a dried sausage and a baguette, plus a couple of oranges out of my bag. I'm thinking this guy ought to have the SNAP too. The government redistributing from one to another has caused me to lose a little of my humanity and charity. I recognize it. I'm not happy about it. My wife is a much better human than me because she still stops. Yes, I'm afraid. I'm afraid of the monsters we're all becoming.

So what would be better? I keep more of my paycheck. I have a few extra FRNs at the end of the week to help the people around me. I take the time to engage in their lives, to find out how to help them better, to talk to friends of mine who need a worker and are willing to give someone else a chance. It's what I do for the people in my church. I just need to do it more. And I don't like the slippery slope of taking away from the individual. Choice is important, and individuals typically make a better choice than a collective. If you have ever seen Leni Riefenstahl's "Will to Power," it becomes easy to recognize.

The problem is that we're losing our relationships with one another. It started with the attached garage and the automatic garage door closer (because we don't even see one another) and it continues to the conversation taking place here on the interwebs instead of us sitting down and having a cup of coffee or a beer together. Where does it all lead? That's for you to determine. But I remember a time when we helped strangers and strangers helped us...and there was no fear that everyone was just out for themselves. Everyone is after their "Obamabucks" (I'm assuming you've seen the video) and doesn't want to work for it. This place is a nice virtual community where things are different...or so I thought...

Big Buffalo
Jul 14, 2012 - 2:17pm

This is fantastic...

Looks like the positive, informative, fun, and respected TFMR crew is taking out the trash this weekend. A BIG THANK YOU to you folks.

rl999
Jul 14, 2012 - 2:17pm

Why the silver market is choppy

The following article describes (to me at least) exactly what is happening in the silver market and why. I guess it is obvious, but it hadn't quite formed in my mind. After reading it I thought of Turd's army (w/ A.M.). Since this is what's happening, why do we think there is some impetus for it to change. Obviously the "correct" people are making money, so what incentive do they have to change it? (Correct=those with the HFT algo's, the cartel and etc, not as a slight to A.M.)

The second thought I had, and am unable to answer with my level of knowledge; how much $/ how many contracts does one have to have in the game to make a profit on a move of the size described below. For example buy @ 26.5, sell @ 27.25. At what $ amount / # of contracts does that play become profitable, after accounting for all fees and whatnots (that I know 0 about).

I don't trade, and never will, but I feel it is important to understand what the traders are doing so that I can prepare adequately/time my buys.

"Scurrying for the reasons silver was volatile this morning, the white noise of the obvious hummed in the back of my mind. That white noise informed me that I was likely to find no reasons for the sudden spike this morning in the price of the devil’s metal. No war with Iran, no quantitative easing, no technological breakthrough demanding increasing amounts of silver. Instead the black hole of artificial intelligence trading had been ticked at the $26.50 level, most likely where thousands if not millions of automated buy orders are triggered, and programmed to sell somewhere before $27.30.

These critical mass artificial intelligence trading platforms will in effect dictate the price of silver in such a way so as to benefit speculators. Thus, savers and stackers in the metals will be frustrated by extremely volatile conditions and charts totally out-of-whack."

https://silvervigilante.com/artificial-intelligence-fedspectations-long-...

Patriot Family
Jul 14, 2012 - 2:25pm

If Ann Barnhardt is

If Ann Barnhardt is maquerading on here as one of our members, I want a signed autograph of her in that picture with the pink AR-15. That's my kind of girl!

In other noncontroversial news, I now have one 2011 Kilo Libertad left up for sale. Get in touch if interested. The other two have sold to TFMR members (thanks guys!).

Will also trade for a AR in a pink camo and a pair of matching pink stillettos for my wife. Shhhh.. it's a surprise. The black AR just doesn't look right on her.

Dagney Taggart
Jul 14, 2012 - 2:27pm

@tmosley

Don't insult Ann. Just kidding. I love most of her work.

Regarding seniority, I didn't have the time or see the need to jump on board on day one or two. Certainly not saying anybody did that for bandwagon reasons or so they could play the seniority card at a later date. My point along the lines of what you're saying is that age is really nothing but a number at this point. For instance, I've traveled to Scottsdale and Sedona, Arizona many times and I have never seen and heard so many 60 year old "children" in 1 place, ever. And I travel a lot. It's no wonder American children feel lost and are made to feel worthless: no elder leadership. Seniority is so overrated and I think anybody who examines the US Congress or the effectiveness of public education would agree.

Dagney Taggart
Jul 14, 2012 - 2:38pm

@rl999

I'm still watch for a hood down to the 61.8% retrace (24.25). Probably don't get it and it's not stopping me from adding weekly. But that's where the rest of my current fiat allocation would dumped.

Patriot Family Colonel Angus
Jul 14, 2012 - 2:39pm

Colonel Angus - something strange happens when you give...

You tend to have more left over than when you started. My family and I are kind of going through a trying time right now due to job loss. But we still give, pretty much in the same way you do. Usually to/through our church, but also directly to friends in need. It's not something we talk about, but I wanted people to know somehow it never seems to diminish our ability to pay our own bills or feed the kids.

As for SNAP abuse, the states could easily crack down on it if they wanted to, but the feds and other special interest groups love funding the program. It'll never go away - WalMart would scream bloody murder.

Admiral Ag Bar
Jul 14, 2012 - 2:43pm

my weekend/holiday theory is holding up nice

Without anything interesting and new to discuss... we begin to eat each other. How can we get along as humans when everyone has something to prove?

The more I think about it, if a true SHTF event hit it truly would be game over - whether you are 'prepared' or not. Even though some people are and will always be 'good,' there is just so much hate, anger, venom out there we would be reduced to wild animals.

Let's hope the great criminal ponzi can hold on just a little while longer. I am enjoying the fact that I have AC, electricity, running water, functioning sewer, easy access to food, and the internet.

I'm finally reading The Creature from Jekyll Island by G. Edward Griffin. Truly depressing situation we are in. The banks rule the world. Our lives (at least in an economic sense) are only to serve the interests of world's elite, The Powerz That Be. I already mostly knew that, but it is gut wrenching to read a well-researched account of just how deep this rabbit-hole goes...

Enjoy your weekend. Monday isn't that far away...

rocoach NancyDrew
Jul 14, 2012 - 2:45pm

@ NancyDrew

So roughly how much would those dimes be worth?

jasmts Patriot Family
Jul 14, 2012 - 2:49pm

kilo coin interest

We would like one,if still available, don d10928[at]gmail[dot]com

I_ate_the_crow
Jul 14, 2012 - 2:50pm

Freedom Fest

Freedom Fest is an annual festival where free minds meet to celebrate “great books, great ideas, and great thinkers” in an open-minded society. It is independent, non-partisan, and not affiliated with any organization or think tank. Founded and produced by Mark Skousen since 2002, FreedomFest invites the “best and the brightest” from around the world to talk, strategize, socialize, and celebrate liberty. FreedomFest is open to all and is purely egalitarian, where speakers, attendees, and exhibitors are treated as equals.

At FreedomFest 2007, Skousen announced the creation of the Free Market Hall of Fame where anyone can vote for their favorite free-market economist, journalist, business leader, legislator, and think tank. [editor note: LOL]

The founder of Freedom Fest, Skousen, was born in 1947 in San Diego, California, and grew up in Portland, Oregon. He earned his B.A. and Master's degree in economics from Brigham Young University and his Ph.D. in economics and monetary history from George Washington University in 1977.

Skousen was an economic analyst for the CIA from 1972 to 1975.

[editor note: LMAO]

He later worked as a consultant for IBM and Hutchinson Technology, among other Fortune 500 companies. He was a columnist for Forbes magazine from 1997 to 2001, and has contributed articles to such financial publications as The Wall Street Journal and The Journal of Economic Perspectives as well as to the libertarian periodicals Reason, Liberty and The Freeman.

He has been a speaker at investment conferences around the world. He has also lectured for think tanks, as well as at colleges and universities. In 2002, Skousen was elected a member of the Mont Pelerin Society, an international group of social scientists and economists. From 2008-2010 he was a weekly contributor on CNBC's Kudlow & Company, and appears frequently on C-SPAN Book TV.

The Mont Pelerin Society is an international organization composed of economists (including 8 winners of the Nobel Memorial Prize in Economic Sciences), philosophers, historians, intellectuals, business leaders, and others who favour classical liberalism. Its founders included Friedrich Hayek, Karl Popper, Ludwig von Mises, George Stigler, and Milton Friedman. The society advocates freedom of expression, free market economic policies, and the political values of an open society.

The Mont Pelerin Society was created on 10 April 1947 at a conference organized by Friedrich Hayek.

Hayek stressed that the society was to be a scholarly community arguing against collectivism, while not engaging in public relations or propaganda. However, the society has always been a focal point for an international think-tank movement; Hayek himself used it as a forum to encourage members such as Antony Fisher to pursue the think-tank route. Fisher went on to establish the Institute of Economic Affairs (IEA) in London during 1955, the Heritage Foundation in Washington, D.C., during 1973, the Manhattan Institute for Policy Research in New York City during 1977 and the Atlas Economic Research Foundation in 1981. In turn the Atlas Foundation supports a wide network of think-tanks, including the Fraser Institute.

Prominent MPS members who have advanced to policy positions include Chancellor Ludwig Erhard of West Germany, President Luigi Einaudi of Italy, Chairman Arthur F. Burns of the U.S. Federal Reserve Board, U.S. Secretary of State George Shultz, Prime Minister Ranil Wickremasinghe of Sri Lanka, Foreign Secretary Sir Geoffrey Howe of the U.K., Italian Minister of Defence Antonio Martino, Chilean Finance Minister Carlos Cáceres, New Zealand Finance Minister Ruth Richardson and President Václav Klaus of the Czech Republic. Of 76 economic advisers on Ronald Reagan's 1980 campaign staff, 22 were MPS members.

Several leading journalists, including Pulitzer Prize-winning columnist Walter Lippmann, former radical Max Eastman (then roving editor at Reader’s Digest), John Chamberlain (former editorial writer for Life magazine), Henry Hazlitt (former financial editor of The New York Times and columnist for Newsweek), and Felix Morley (Pulitzer Prize-winning editor at The Washington Post), have also been members. Eight MPS members, F. A. Hayek, Milton Friedman, George Stigler, Maurice Allais, James M. Buchanan, Ronald Coase, Gary S. Becker and Vernon Smith have won Nobel prizes in economics.

Skousen has taught economics and finance at Columbia Business School, Barnard College at Columbia University, Mercy College in New York and Rollins College in Winter Park, Florida. In April 2005, Grantham University honored Skousen by renaming its School of Business "The Mark Skousen School of Business" and in 2006, he was named to the Benjamin Franklin Chair of Management at the university. His best-selling book The Making of Modern Economics (M.E.Sharpe, 2009) was named 2009 Choice Outstanding Academic Title. He is also the editor of a free email newsletter, Skousen Investor CAFE: Center for Austrian Finance and Economics, which highlights Mark Skousen's perspectives and opinions on current events, political, social, financial and economic, that can affect investments and the economy.

Skousen has also completed Benjamin Franklin's Autobiography, using Franklin's own words taken from the Papers of Benjamin Franklin at Yale University. The title is The Completed Autobiography by Benjamin Franklin (Regnery Publishing, 2006). Skousen, incidentally, is a descendant of Franklin.

I_ate_the_crow
Jul 14, 2012 - 2:53pm

Freedom Fest - Cont'd

Andrew Paolo Napolitano (born June 6, 1950)

Napolitano was born in Newark, New Jersey. He is a graduate of Princeton University (he was a founding member of the Concerned Alumni of Princeton[1]) and Notre Dame Law School. Napolitano sat on the New Jersey bench from 1987 to 1995, becoming the state's youngest then-sitting Superior Court judge. He also served as an adjunct professor at Seton Hall University School of Law for 11 years. Napolitano resigned his judgeship in 1995 to pursue his writing and television career.

Prior to joining Fox as a news analyst, Napolitano was the presiding judge on the television show, Power of Attorney, in which people brought small-claims disputes to a televised courtroom. Differing from similar formats, the plaintiffs and defendants were represented "pro bono" by famous attorneys. The show ran in syndication during the 2000–2001 season.

From 2006 to 2010, Napolitano co-hosted a talk radio show on Fox News Radio with Brian Kilmeade titled Brian and the Judge.

Napolitano hosted a libertarian talk show called Freedom Watch that aired daily, with new episodes on weekdays, on Fox Business Channel. Frequent guests on Freedom Watch were Congressman Ron Paul, financial commentator Peter Schiff, and Lew Rockwell. Napolitano has called himself the "Ayn Rand of Fox News" and has also promoted the works of Friedrich Hayek, Milton Friedman and Ludwig von Mises on his program. The show originally aired once a week on Wednesdays at 2:00 pm on Fox News' Strategy Room. On September 14, 2009 it became a show that airs three to four times a week. On June 12, 2010 it debuted as a weekly show on Fox Business. The show was dropped along with several programs in February 2012 when FBN revamped its entire primetime lineup.

Napolitano regularly substituted for television host Glenn Beck when Beck was absent from his program. After Beck announced he would be leaving Fox News, he asked Napolitano to replace him.

Napolitano is a pro-life libertarian, more commonly known as libertarian conservatism. He is a strong advocate of the Constitution, viewing it as a contract that must, according to rule of law, be interpreted the way its authors intended or else be invalid. He therefore asserts that the Federal government has a very limited set of powers, that it is exceeding, and that the Bill of Rights limits its valid actions in all circumstances.

The Concerned Alumni of Princeton (CAP), of which Napolitano was a founding member, was a group of politically conservative former Princeton University students that existed between 1972 and 1986. CAP was born in 1972 from the ashes of the Alumni Committee to Involve Itself Now (ACTION), which was founded in opposition to the college going coed in 1969. Some claim that CAP was founded to bring the ROTC back to the Princeton campus after the ROTC building was burned down by anti-war activists and the Princeton administration refused to rebuild it. However, the ROTC had returned to campus by the time CAP was founded.

he existence of the organization attracted wide notice in January 2006 during the nomination of Samuel Alito, who was a former CAP member, to the Supreme Court of the United States, as Alito included his membership in the organization on a job application to work in the Reagan administration in 1985 [2]. No mention of Alito has been found in CAP files, apart from his own written 1985 statement of membership. Fox News legal analyst Andrew Napolitano was a founding member.[1] Former Senator Bill Bradley, a liberal Democrat, was a member until 1973, when he resigned because of the tone of the organization's magazine, Prospect. Republican Senator Bill Frist, at the time a recent Princeton alumnus, contributed to a report that labeled the organization as far-right and extremist.

Napolitano is a frequent speaker at Cato Institute events.

The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. Founded as the Charles Koch Foundation in 1974 by Murray Rothbard, Ed Crane and Charles Koch. In July 1976, the name was changed to the Cato Institute. According to the 2011 Global Go To Think Tank Index, Cato is the 6th most influential US based think tank, ranking 3th in Economic Policy and 2nd in Social Policy.

The Institute's stated mission is "to increase the understanding of public policies based on the principles of limited government, free markets, individual liberty, and peace. The Institute will use the most effective means to originate, advocate, promote, and disseminate applicable policy proposals that create free, open, and civil societies in the United States and throughout the world."

Cato scholars were critical of George W. Bush's Republican administration (2001–2009) on several issues, including the Iraq War, civil liberties, education, agriculture, energy policy, and excessive government spending. On other issues, most notably health care, Social Security, global warming, tax policy, and immigration, they supported Bush administration initiatives. During the 2008 U.S. presidential election, Cato scholars criticized both major-party candidates, John McCain and Barack Obama. Since his inaugaration, Cato has criticized President Obama's stances on policy issues such fiscal stimulus, healthcare reform, foreign policy, and the War on Drugs, while supporting his stance on the repeal of Don't Ask, Don't Tell and liberal immigration policy.

The Cato Institute is classified as a 501(c)(3) organization under U.S. Internal Revenue Code. The Institute performs no contract research and does not accept government funding. For revenue, the Institute is largely dependent on private contributions. According to its annual report, the Cato Institute had fiscal year 2008 income of $24 million. The report notes that 77% of Cato's income that year came from individual contributions, 13% from foundations, 2% from corporations, and 8% from "program and other income" (e.g., publication sales, program fees).

There are four shareholders of the Cato Institute. As of March 2012 they were Charles and David H. Koch, president Edward H. Crane, and Kathryn Washburn, the widow of former Chairman Emeritus William A. Niskanen. In March 2012, a dispute broke out over the ownership of Niskanen's share. When Niskanen died, Charles and David Koch filed suit in Kansas, seeking to void his shareholder seat. Crane contends his share belongs to Washburn and that the move by the Kochs is an attempt to turn Cato into "some sort of auxiliary for the G.O.P.... It's detrimental to Cato, it's detrimental to Koch Industries, its detrimental to the libertarian movement."

In June 2012, Cato announced an agreement in principle to settle the dispute by changing the institute's governing structure. Under the agreement, a board will replace the shareholders and Crane will retire to be replaced by former BB&T bank CEO John A. Allison IV. The Koch brothers agreed to drop two lawsuits.

During the lawsuits, Judge Napolitano filed an affidavit in support of the Kochs' motion to maintain the status quo throughout the litigation.

Notable financial supporters of the Cato Insitute include: Ford Foundation, The Coors Foundation, The Charles G Koch Charitable Foundation, Google, Whole Foods Market, BB&T, Atlantic Trust Co, and Reynolds American. Steve Forbes is also a long-standing collaborator with the Cato Institute.

Keynote Speakers at Freedom Fest 2012:

- David Boaz
Executive Vice President, Cato Institute

- Steve Forbes
Chairman and CEO, Forbes; Editor-in-Chief, Forbes magazine, U.S.

- G. Edward Griffin
Author, The Creature from Jekyll Island

- Matt Kibbe
FreedomWorks

- Stephen Moore
Editorial page writer for the Wall Street Journal

- Judge Andrew P. Napolitano
Fox News Senior Judicial Analyst

- Peter Schiff
CEO & Chief Global Strategist, EuroPacific Capital

- Mark Skousen
Financial economist, university professor, and producer of FreedomFest

- Rick Rule
Sprott Global Resource Investments Ltd

- Douglas Casey
Best-Selling Author, International Investor and Entrepreneur

- Yaron Brook
Ayn Rand Center for Individual Rights

And of course:

Senator Rand Paul
US Senator from Kentucky

rocoach
Jul 14, 2012 - 3:02pm

@EO

Without the stronger emotions like anger, love, hate, etc. how do you know that you're even alive? Without stress how do you motivate to achieve anything?

rocoach I_ate_the_crow
Jul 14, 2012 - 3:04pm

@ I_ate_the_crow

My guess is that, at most, perhaps one person will attempt to read through all that...

I_ate_the_crow
Jul 14, 2012 - 3:11pm

Freedom Fest Cont'd

Skousen served as president of the free market think tank Foundation for Economic Education (FEE) in New York from 2001 to 2002. Established to study and advance classical liberalism, the Foundation for Economic Education (FEE) is the oldest free-market organization in the United States. Murray Rothbard recognized FEE for creating a "crucial open center" that he credits with launching the movement.

FEE researches and advocates for free-market, classical liberal, and libertarian ideas through lectures as well as publications. The lectures are either a part of week long seminars featuring multiple faculty, or feature one prominent speaker for the Evenings at FEE series. Publishing efforts include a monthly magazine, The Freeman, as well as pamphlets, lectures, and classic libertarian texts.

In 1946, FEE was founded by Leonard Read of the Los Angeles Chamber of Commerce, Donaldson Brown of General Motors Corporation, Professors Leo Wolman of Columbia University and Fred R. Fairchild of Yale University, Henry Hazlitt of the New York Times, Claude Robinson of Opinion Research Corporation, and David Goodrich of B. F. Goodrich. Instrumental in subsidizing FEE's establishment was the William Volker Fund. Read's efforts provided a base for the international post World War II libertarian movement. For instance, Friedrich Hayek was inspired partly by FEE when he formed the Mont Pelerin Society in 1947. Plehwe, Walpen, and Neunhöffer argue that FEE directly supported the Mont Pelerin Society.

The initial officers of FEE included Read as president, Hazlitt as vice-president, and Goodrich as chairman. Jumping ahead to modern times brings us to Hans Sennholz having served as president of the Foundation from 1992 to 1997, after retiring from Grove City College where he taught economics. Donald J. Boudreaux, former Chairman of the Department of Economics at George Mason University, served as president of the Foundation from 1997 to 2001. Mark Skousen served as president from 2001 to 2002. After the controversial decision to invite Rudy Giuliani to be the keynote speaker at FEE's annual Liberty Banquet for a $30,000 honorarium, the Board of Trustees asked for Skousen's resignation. Richard Ebeling served as president from 2003 to 2008. On September 1, 2008 Lawrence Reed became the current president.

Political scientist and survivalist Joel Skousen and linguist Royal Skousen are his older brothers, and Cleon Skousen, the late conservative author, was his uncle.

Royal Jon Skousen is a professor of linguistics and English at Brigham Young University (BYU), where he is editor of the Book of Mormon Critical Text Project. He is "the leading expert on the textual history of the Book of Mormon"and the founder of the Analogical Modeling approach to language modeling.

Joel M. Skousen is an American conservative political commentator non-fiction Survivalist author, and retreat consultant who specializes in preparedness topics, particularly survival retreat and fallout shelter design and construction, as well as in what he calls "strategic relocation." Skousen is the founder and chief editor of World Affairs Brief, a weekly news-analysis service. He has offered in both North and Central America consultation regarding architectural and retreat design.

Willard Cleon Skousen (January 20, 1913 – January 9, 2006) was an American author, conservative American Constitutionalist and faith-based political theorist. He was also a prolific popularizer among Latter-day Saints (Mormons) of their theology. A notable anti-communist and supporter of the John Birch Society.

At the age of 17 he traveled to Great Britain as a missionary for The Church of Jesus Christ of Latter-day Saints. After completing his missionary service, Skousen attended San Bernardino Valley Jr. College, graduating in 1935. He graduated with an LL.B. from George Washington University Law School in June 1940 (the school updated his degree as Juris Doctor (J.D.) in 1972 with its degree nomenclature).

In June 1935, Skousen went to work for the Agricultural Adjustment Administration, a New Deal program to subsidize farmers. Soon thereafter, he found employment with the Federal Bureau of Investigation (FBI), working as a messenger while attending law school at night. In 1940, after getting his law degree and passing the Washington D.C. bar exam, he became an FBI Special Agent. FBI memos have described his work at the Bureau as mainly clerical and administrative. Skousen left the FBI in 1951. Ironically, the FBI would maintain a file on Skousen that would come to number more than 2,000 pages.

Skousen founded a group called the All-American Society, which Time magazine described in 1961 as an "exemplar of the far-right ultras." Throughout the 1960s, Skousen was also admired by members and leaders of the John Birch Society, although members of the more mainstream conservative movement — notably William F. Buckley and the American Security Council — snubbed him out of fear that his controversial views would hurt the credibility of the conservative movement. Skousen used Birch Society magazines as source and reference material, and was pictured on the cover of its magazine, American Interest. Although he was never officially a member of the organization, he was a member of its speakers' bureau and lectured at John Birch Society events throughout the United States for many years. A 1962 FBI memo described Skousen as affiliating with an "extreme right-wing" group which was promoting "anticommunism for obvious financial purposes". Skousen authored a pamphlet titled The Communist Attack on the John Birch Society, characterizing criticism of the Society as incipient communism.

In 1981, the first year of Ronald Reagan's presidency, Skousen was asked to be a charter member of the conservative think tank the Council for National Policy [editor's note: see Josh Reeves The Secret Right Vol I and II].

Skousen disregarded all federal regulatory agencies, and argued for the abolition of everything from the Occupational Safety and Health Administration to the Environmental Protection Agency. He also wanted to repeal the minimum wage, eliminate unions, nullify anti-discrimination laws, sell off public lands and national parks, end the direct election of senators, eliminate the income tax and the estate tax, remove the walls separating church and state, and end the Federal Reserve System.

Skousen spoke against communism, throughout his career. He stood fast with John Birch Society co-founder Robert W. Welch Jr.'s contention that President Dwight D. Eisenhower was a communist agent. He did not believe the U.S. should establish diplomatic relations with the People's Republic of China, claiming that the U.S. State Department was engaging in treason with respect to Secretary of State Henry Kissinger's visit to "his old friend Mao Tse-tung." In the 1970s, he spoke to a Latter-Day Saint group aboard a cruise ship returning from Israel, stating that the previous 10 U.S. national elections had been illegitimate because voters had not truly had a choice. He also referred to what he argued was the betrayal of Chiang Kai-shek.

Skousen spoke of billionaire banker David Rockefeller as being one of the most powerful men in the world. Skousen criticized Rockefeller for praising Mao Zedong in a 1973 New York Times article, in which he stated that the communist leader was one of the greatest leaders of the 20th century. Later Skousen claimed that the Rockefellers and Wall Street had conspired to elect Jimmy Carter president. Skousen was also known as a strong supporter of law and order and believed that local police departments were being undermined in order to promote a national police state.

From The Naked Capitalist, Skousen's review
of Carroll Quigley’s Tragedy and Hope

“Power from any source tends to create an appetite for additional power... It was almost inevitable that the super-rich would one day aspire to control not only their own wealth, but the wealth of the whole world.” “As I see it, the great contribution which Dr. Carroll Quigley unintentionally made[...]was to help the ordinary American people realize the utter contempt which the network leaders have for ordinary people. Human beings are treated en masse as helpless puppets on an international chess board where giants of economic and political power subject them to wars, revolution, civil strife, confiscation, subversion, indoctrination, manipulation and outright deception as it suits their fancy and their concocted schemes for world domination.”

In September 2007, a year prior to the 2008 U.S. presidential election, Jan Mickelson of Iowa radio station WHO and Republican Iowa caucus presidential candidate Mitt Romney discussed Skousen in an off-the-air conversation during a break in Mickelson's broadcast, which Mickelson recorded. In the conversation, Mickelson touted Skousen's American Constitutionalism and Romney cited Skousen as an expert on Mormon theology.[42] In commentary about this exchange, the National Review's Mark Hemingway termed Skousen an "...all-around nutjob", and described The Naked Communist as "so irrational in its paranoia that it would have made Whittaker Chambers blush," adding, "to be fair Skousen wrote on numerous topics with wildly varying degrees of intellectual sobriety. In fact, as the radio host in the YouTube video notes, Skousen’s writings on original intent and the U.S. Constitution in The Making of America are compellingly argued, and to this day are often cited by conservatives unaware of Skousen’s more checkered writings. Further, Skousen’s scriptural commentaries are still very popular well-regarded within the relatively unradical world of mainstream Mormonism."

While Skousen was alive, many of his ideas were met with fierce criticism, while his pronouncements made him "a pariah among most conservative activists". In one instance, the constitutional scholar Jack Rakove, of Stanford University, inspected Skousen’s books and seminars and pronounced them "a joke that no self-respecting scholar would think is worth a warm pitcher of spit." A 1971 review in the Mormon journal Dialogue also accused Skousen of "inventing fantastic ideas and making inferences that go far beyond the bounds of honest commentary," and also of promoting concepts that were "perilously close" to Nazism.

Moreover, in 1979 after Skousen described President Jimmy Carter as beholden to the Council on Foreign Relations and the wealthy and influential Rockefeller family, the then-president of the LDS church issued an order prohibiting announcements about Skousen's groups from official LDS meetings or publications.

In fall of 2007, political commentator Glenn Beck began promoting The 5,000 Year Leap on his show, describing it as "divinely inspired" and written by someone "much more intelligent than myself". Leap argues that the U.S. Constitution is infused with Judeo-Christian virtues as well as Enlightenment philosophy. Skousen's son Paul Skousen asked Beck to write the foreword for a new edition of the book. Texas Governor Rick Perry has also promoted the book.

After Beck began promoting Skousen's The 5,000 Year Leap in March 2009, it went to number one in sales on the Amazon.com charts and stayed in the top 15 throughout the following summer. In September 2009, the book was being sold at meetings of Beck's 9-12 Project and was often used as source material for 9-12 Project speakers.

Skousen's book on LDS end times prophecy, The Cleansing of America, was published by Valor Publishing Group in 2010. In a November 2010 article in Canada's National Post, Alexander Zaitchik, author of Common Nonsense (a book critical of Glenn Beck), described Skousen as a "whack job" with "decidedly dubious theories".

Moderator Jefferson
Jul 14, 2012 - 3:35pm

A gentle reminder

It seems, despite the general level of intelligence on the board, there are still some who find reading either bothersome or hard. There is also the matter of losing sense of perspective and propriety. Despite anyone's beliefs regarding the importance or value of community, this IS a community that requires a level of respect from its members towards others. A very simple requirement, really. That it should remain so elusive to some is puzzling as well as revealing.

Take some time away from the monitor (and/or rum bottle). Do some gardening. Talk to your neighbors. Go for a hike in the woods. Take a swim. Plant a tree. Enjoy the things that truly matter in life.

Please take a moment to peruse this very simple list:

Community Guidelines

1) No running or horseplay of any kind.

2) Be nice.

3) Be helpful.

4) Give more than you take.

5) Ignore trolls but use the "Hat Tip" button whenever deserved.

6) Wait at least 20 minutes after eating before posting comments or starting threads.

7) Treat others the way you like to be treated.

8) Confine all controversial topics and discussions to their designated forum.

9) If you stay on this site longer than 4 hours, seek immediate medical attention.

10) Copying and pasting full-length articles in the forums and comments could get The Turd slapped with a DMCA copyright violation. Quote a small portion as "fair use" and link out to the article instead. The Turd's lawyer thanks you.

11) Have fun and be respectful. Share quality information. This site is about and for you, not The Turd. To paraphrase Benjamin Franklin: The Turd has given you the site you deserve. Now, can you keep it?

And these few words:

The forums are where Turdites can go to discuss a wide variety of subjects. While a good amount of forum discussion deals with precious metals and the economy, this is where you can also find information on preparing (for a collapse), argue about politics to your heart's content, and even share some music videos for fun. While TF Metals Report originally had its genesis in the comments section of the highly respected economic site Zero Hedge, the community at TF Metals Report is designed to be different. If you are used to rampant flaming and "junking," please don't bring that attitude here. We ask members to be supportive and considerate of one another. Passion about topics is encouraged, but personal attacks, intolerant fanaticism, and proselytizing are not allowed. Turd runs a "benevolent dictatorship," which means he has the final word on all community matters. We also have a number of volunteer moderators whose job it is to keep threads on topic and to take care of trolls and troublemakers. Welcome to TF Metals Report - we hope you enjoy your stay in Turdville.
tpbeta
Jul 14, 2012 - 3:45pm

Disagreeable people

I hope people will recall we are Turd's guests and don't post here as of right. Folks (like me) who think Turd's macro perspective on the fundamentals is incorrect in a number of respects yet still find enormous value in his analysis are under an obligation to our host not to pursue the point in an aggressive way. It's rude and pointless. If you feel that strongly, go and start your own blog.

Dissent is valuable. Ill mannered posturing and noise is not.

henry
Jul 14, 2012 - 3:52pm

I blame Monedas

Well deserved break, Turd !

Submitted by Monedas on July 10, 2012 - 12:23pm.

Monedas' presence and the lightning raw naked power of his rapier wit will keep the clowns from getting too silly ! Monedas 1929 I'm worth 100 moderators for the fear I project !

cpnscarlet balz
Jul 14, 2012 - 3:53pm

@balz - Your post on July

@balz - Your post on July 13th @ 10:12 PM has got to be one of the worst things I have EVER read, anywhere. Aside from being full of semantical holes, your thinking is pretzel-twisted. Every law written means less liberty. It is that simple.

Worse yet, you sound like John Dickinson at the 2nd Continental Congress. You're ready to put all your faith in written laws as the source of your freedoms. And you beg the elitists and statists to give you your "legal" freedom as they stamp your face into the mud with their boots. Go kiss the king's ring and all will be OK. My freedom is granted by the Almighty, a much higher and worthy authority.

God bless the law?? God damn this nation's laws the more they are not enforced!! Man's laws are only as good as the morality of the men that enforce it. Once the government upholds the wicked and punishes the righteous, Romans 13 is NULL and VOID.

Capitalism is not in crisis, morality is.

TexasStacker
Jul 14, 2012 - 4:08pm

Wow. Just Wow.

What, exactly, is this forum becoming? Are we here to edify, or tear down? I visit here every day, often it is my last stop before bed, because the optimism and helpfulness in the midst of a fixed game (PM Investing) helps to keep me going. I have one of those jobs (that I love, btw) where from the minute I hit the door, through a noonhour with no lunch, into an evening rush commute of an hour, I'm constantly being told in subtle and overt ways how bad everything is. Economics, society, work ethic, etc. This was once a place where optimism was freely dispensed; now, not so much. Am I the only one thinking "f it all" and looking for a new internet home besides the once great Turdland?


Jul 14, 2012 - 4:13pm

two things I believe in:

Lollipops and unicorns

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