Big Head Press

L. Neil Smith's
Number 641, October 23, 2011

"Mercantilism and capitalism, that's what the
fight is really all about—and always has been"

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Letters to the Editor

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Letter from Dana Majewski

Letter from Stephan Segeth

Letter from L. Neil Smith

Letter from A.X. Perez

Letter from Jim Davidson

Letter from Seth Cohn

Another Letter from A.X. Perez

Re: "Letter from David M. Schmidt"


Re: the "Report to Attack Watch" button(s)

I'm sure that the button for Attack Watch is satirical. I first saw it at Carl Bussjaeger's web site. You can read about it at: [this link]. If you look at the link you will find another button that I assume that Carl created to report "inappropriate comments regarding Michelle's inappropriately humongous rear." I didn't catch the joke on this one until I went back to look for the link.

I suspect that Carl's idea is that if enough right wing and libertarian web sites use the button, the Obamunists will be overloaded with reports.

I think this is a similar thing to when Hitlery Rotten Clinton came up with the Vast Right Wing Conspiracy. The people on the right (who unlike the people of the left) at least have a sense of humor about such things. I remember seeing web sites pop up where you enter you name and the the web site would create a membership certificate to the Vast Right Wing Conspiracy that you could print out.

Dana Majewski

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Well, I like to read The Libertarian Enterprise & I understand that you take pretty much any pro-libertarian article (& others) sent to you, but sometimes I wonder (or wish) you would actually have some quality check before publication.
[ Quality Check™ cost money—we got none—Editor ]

Here I specifically refer to "The Fourth Reich: Germany Rises Once Again" by Russell D. Longcore . The title is bad enough because nothing could be further from the truth. The author goes on stating that the German national anthem was written by Joseph Haydn in 1797. It wasn't. The text is from Hoffmann von Fallersleben, written in 1841. It was then sung to the melody of Haydn's Kaiserlied from 1797.

Anyway, the matter of the article is the alleged resurrection of the Deutsche Mark. But there is pretty much nothing in the article to back this up. The linked articles seem to be based on rumours, what some people think ("I think they have already got the printing machines going") & on a poll that showed a majority of Germans prefer the German Mark to the Euro (nothing new here).

At best this article is wishful thinking, at worst, just useless crap. The probability that the Deutsche Mark is re-introduced is very low, even with a Greek default. The cost of a resurrection would be too high & the advantages of a common currency for the German economy are too important for the politicians to consider it seriously (not to mention international pressure).

Since I'm writing, anyway:

In "Scams and Spams and Piracy, Oh My!" Michael Bradshaw proposes an Asian presence for TLE. Not a bad idea overall, but you don't need an Asian TLD to do so. What you need are translators. Simply let them translate your website & articles properly. Here in China they click on com-TLDs just like on cn-ones. TLDs are not important.

You will have another problem though (speaking for China only): lack of interest. Most people here are interested in making a living or making money. Politics is only in the minds of a select few. You can try to spread some Libertarian ideas, but I doubt the short & mid-term success. It's hard enough to teach well-educated students some free thought or to divert from the mainstream. To make them understand & embrace the ideas of Libertarianism? Good luck!

Anyway, keep up your nice work with TLE!

Stephan Segeth

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Too silly for words

Per your:

"Vancouver restaurant bans men from peeing standing up"

My first real job was as a manager/janitor at a ski lodge in Vail during the summer. There was plenty going on in the town, and the lodge generally had plenty of customers.

My experience was exactly the opposite of this guy's. It was the men who were fairly tidy in the bathrooms, and the women who made absolute pigsties of them.

Of course most of the men were members of a road construction crew, while most of the women were attending a public school teachers' conference, That might have made all the difference.

L. Neil Smith

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No Passes

To date I have chosen to lay off President Obama in my comments on Operation Gunwalker (Correctly: Operation Fast and Furious). This is because there was always the chance that he would ask for the resignations of the people responsible and involved in Gunwalker. This is an ever growing list that includes the former temporary head of BATFE, the Attorney General, the Head of Homeland Security the director of the FBI, the head of DEA, the former head of the CIA (and now Secretary of Defense), and the Secratary of State and a slew of these people's assistants and immediate subordiates. There was a chance he would disavow the methods, alleged goals, and results of this failed program.

However, Mr. Obama has chosen to state his support for Mr. Holder and by extension Ms. Clinton, Mr. Panetta, Ms. Napolitano et alia for their participation in Gunwalker. Whether he is only refusing to turn on his subordinates (a commendable attitude), if he supports the most dastardly goals attributed to Gunwalker and may in fact have instigated the program or is anywhere in the spectrum in between is irrelevant. President Obama has shown himself to be a murdering racist freebooter who abused his office to make war on a friendly nation for the purpose of undermining the Constitution. If he did not do so by deed, he has stated his acquiescence to these activities by his subordinates, shares their culpability, and deserves to share in their punishment.

A.X. Perez

PS Last fall a bullet from a gun fight in Mexico between drug smugglers and Mexican police struck an office building at UT El Paso. It could just as easily have struck my mom's house. Turns out that the people buying guns in Phoenix were taking them to sell in Juarez. I was visiting my mom that day, heard the gun fight when I was leaving, driving along a stretch of I-10 exposed to gun fire from Mexico. Were Gunwalker guns involved? Realize why I take this Very personally?

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Federal Reserve Goes Rogue

"Balances maintained at a Federal Reserve bank by or on behalf of a depository institution may receive earnings to be paid by the Federal Reserve bank at least once each calendar quarter, at a rate or rates not to exceed the general level of short-term interest rates."

Compare the above law, from the 2006 Financial Services Regulatory Relief Act, with the following interest rates:

Current Data: Fourth Quarter of 2011
Interest Rates Paid on Required Reserve Balances
Institutions with 1-Week Maintenance Period
Rate October 12   .25

Institutions with 2-Week Maintenance Period
Rate   October 5   .25

Now examine the "general level of short-term interest rates."

Daily Treasury Yield Curve Rates

Date       1 mo   3 mo  6 mo  1 yr

10/12/11   0.01   0.02  0.06  0.09

Putting that into common English, the Federal Reserve is paying 0.25% interest on reserves and excess reserves held by member banks. The general level of short-term interest rates is between 0.01% and 0.09%.

There is no interest rate shorter in term than two years that is above 0.25%.

Since the reserves are held for maintenance periods of one week or two weeks, the one month interest rate is the relevant interest rate. Which means that the Federal Reserve is now paying to member institutions 25 times as much interest as the law allows.

Now, I am utterly against the Federal Reserve system. I am against the banking cartel. And, in general terms, I am against the national government. I am, on the whole, on principle, against legislation and regulations.

However, to imagine that the Federal Reserve is in any way constrained by the Congress which has made laws such as the 2006 law allowing for payments on reserves not to exceed the general short term interest rate, one would expect that everyone in the Federal Reserve system from the office of chairman down to the office of comptroller would now face prison terms for this egregious violation of the law.

But that won't happen, and you know it won't happen. The Federal Reserve could murder every protester in every city tomorrow, and Congress wouldn't lift a finger to stop them.

Some bankers are more equal than others.

Jim Davidson

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A scene from OccupyNH

[link to video]

While OccupyWallStreet or OccupyBoston might well be different, the folks at OccupyNH are very diverse in viewpoint (left, right and beyond), and yet all agree that we have a problem, as a nation, that we need to address. Tonight, I was very proud of the response from the entire crowd during the discussion of why Occupying, even in the face of a Manchester Police desire to end it, is their right and they will defend it. NH's got a strong pro-liberty crowd in the mix, including Ron Paul Republicans, Agorists, Anarchists of all flavors, Libertarians, etc, all working to find a common ground with the other 'more usual' groups in to be found in OccupyNH, including Democrats, Liberals, Progressives, Socialists, etc etc...

Seth Cohn

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Need to Know

The U.S. Court of Appeals for the District of Columbia Circuit has ruled in Heller II (Nickname, not actual case name) that DC's ban on "assault weapons" and large capacity magazines because is constitutional because it meets the "objective of protecting police officers ...." (Source NRA-ILA October 2011 Report). This is, of course, balderdash (been wanting to use this word for a while.). The purpose of the Second Amendment is to guarantee that the people will have the tools necessary to resist police abuse of power. How the hell does this establish an "objective of protecting police officers...."?

Inquiring minds want to know, to coin a phrase.

A.X. Perez

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