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Dr. Deborah Birx was the real power behind President Trump's disastrous Covid policy. She was the lockdown fanatic who admits in a new book that she subverted the hapless Trump Admin and pushed falsehoods to get what she wanted. Millions of lives were ruined. Also today: Washington freaks out as Ukrainian-born US Rep accuses "Saint" Zelensky of corruption...
By Ron Paul
A recent video shows penguins at a Japanese aquarium rejecting the cheap fish the aquarium has substituted for the higher quality fish the penguins are used to receiving. The reason the aquarium switched fish is because rampant inflation has made it impossible for the aquarium to afford the higher quality fish. The penguins’ reaction illustrates the flaw in governments claiming that even if inflation makes it impossible for you (or penguins) to eat steak (or higher quality fish) your quality of life has not been diminished as long as you can afford hamburger (or cheap fish). Minimizing the impact of inflation by taking a “let the penguins eat lousy fish” approach is the basis of the “chained CPI” that is one of the ways the government underestimates price inflation. According to John Williams of Shadow Government Statistics, the real inflation rate (calculated without the government’s “modifications”) is over 15 percent! While they continue to understate the true rate of price inflation, government officials have been forced to admit at least that price inflation has reached levels not seen in forty years. This has led the Federal Reserve to raise interest rates. But, so far, the Fed’s rate increases have not stopped price inflation. This is why the Fed’s next rate increase may be a rare full percentage point increase. Yet, even if the Fed raises rates by a full percentage point, rates will still remain well below what they would be in a free market. The Fed cannot raise rates anywhere close to market rates because doing so would make it impossible for debt-ridden consumers, businesses, and the federal government to manage their debt. Fear of causing the bursting of the many bubbles it has created — especially the federal government debt bubble — means the Fed’s efforts to halt price inflation will fail. However, the Fed’s actions will increase unemployment and obstruct economic growth. This will lead to, if it hasn’t already, a return to the 1970s phenomenon of “stagflation,” although this time it will be even more painful. The problem with the Federal Reserve is not that it pursues “bad policies.” The problem is the very existence of a secretive and unaccountable central bank with the power to manipulate the money supply and interest rates. Money’s function is to provide an objective unit of account, so market actors know the value of goods and services. When the central bank manipulates the money supply, it arbitrarily changes the value of money, making it impossible for market actors to determine those values. The Fed’s manipulation of interest rates also creates economic chaos by distorting the signals sent regarding economic conditions. This leads to widespread malinvestments, resulting in booms followed by busts. Since this system leaves elements of the market intact, it can survive and even appear to thrive for an extended period of time. But eventually the fiat money system will collapse. Since the fundamental flaw with the Federal Reserve is its very existence, reforms, such as making the Fed follow a rules-based policy, will not “fix the Fed.” The only way to return to a rational economic system is to end the Fed. If there is not sufficient support to end the Fed, Congress should still audit the Fed and create competition by repealing the legal tender laws and ending all capital gains taxes on precious metals and cryptocurrencies.
The Fed counterfeited trillions and prices are skyrocketing -- cause and effect. Yet, the price of gold is falling! Shouldn't gold be skyrocketing too? Is it as simple as that? Or are there more variables involved, making things more complex? After all, gold, like oil, is an extremely politicized commodity.
An instructor at the Harvard Law School has Tweeted a threat against the US Supreme Court over its recent overturning of Roe v. Wade: the Justices should "never know peace again." Twitter has taken no action against the threat. Why? Also today: As the US Army faces unprecedented recruitment challenges, today it kicks out 60,000 soldiers...for refusing the Covid shot! Finally: Newsom presides over the worst schools in the nation...so he goes to Washington for an education award! Make sense?
The Biden Administration has announced an additional $1.7 billion in aid to Ukraine to pay its healthcare sector. As the seemingly endless US money spigot to Ukraine seems to be left open, how long until Americans without healthcare begin to object? Also today: new CPI numbers are out...and they're devastating! Also: John Bolton casually admits plotting coups overseas while in government.
President Biden's trip next week to a Saudi Arabia, that not long ago he referred to as a "pariah state," demonstrates just how desperate his Administration is to save the sinking ship of the US economy. Officials are now floating the idea of approving "offensive" weapons to the Saudis as Biden prepares to grovel for more oil. Also today: Iran sending drones to Russia? Really Jake? Finally: Congress adds a few billion to Biden's military funding request. Business as usual for the Beltway bandits.
CNN, NY Times, WaPo, etc - after years of carrying water for Joe Biden, the mainstream media is turning against him. All of a sudden his age and seeming cognitive decline are fair game. Is it a Dem-led desperation move to salvage something from expected big November losses? Where does the party go if Biden doesn't run...or doesn't finish this term? Also today: Europeans are fed up with Ukraine as European governments begin to fall. And US attacks Hungary...for lowering its taxes!!
By Ron Paul
Nearly a year ago, former New York Times Journalist Alex Berenson was permanently banned from Twitter for writing the following lines about the Covid shot: “It doesn’t stop infection. Or transmission. Don’t think of it as a vaccine. Think of it - at best - as a therapeutic with a limited window of efficacy and terrible side effect profile that must be dosed IN ADVANCE OF ILLNESS. And we want to mandate it? Insanity.” From the beginning of the Covid hysteria, we followed and cited Berenson many times on the Ron Paul Liberty Report. Berenson took government and mainstream media rhetoric about the pandemic the way journalists used to take it: with a heavy dose of skepticism. And not long after he was banned for saying so, even the CDC Director admitted what he wrote is true. But at the time, he was a danger to the government narrative on Covid, and the “private” social media company Twitter silenced him. They did not only silence one reporter who was a thorn in their side, however. They preemptively silenced anyone else who might might question the narrative. The message was clear to all the would-be Alex Berensons out there: do you want to follow him to the digital gulag? So not only was Berenson’s free speech under attack – free speech itself was under attack. Many, especially libertarians, might respond that Twitter as a private company has the right to do business with anyone they wish. That is true, but only to the extent that Twitter is actually acting as a private entity. The real question is to what degree has Twitter and the other social media companies been directly doing the bidding of government? After nearly a year-long legal battle with Twitter over the ban, Berenson settled with Twitter and was reinstated earlier this month. Writing about his reinstatement, he hinted at something very ominous: “The settlement does not end my investigation into the pressures that the government may have placed on Twitter to suspend my account. I will have more to say on that issue in the near future.” Elon Musk, who had been in a deal to purchase Twitter until a few days ago, responded to Berenson on Twitter: “Can you say more about this: ‘… pressures that the government may have placed on Twitter …’” Berenson replied, “I wish I could, but the settlement with Twitter prevents me from doing so. However, in the near future I hope and expect to have more to report.” Questions about the vaccine were silenced just as were questions about the origins of the virus. Was it possible that the outbreak originated in a Chinese lab that just happened to be funded by the US government? And if so, how far would powerful people in the government wish to suppress any discussion or investigation into this possibility? At a critical time – just as authoritarians were locking the country down and threatening anyone who refused the shot – all public discussion about the matters was shut down by “private” companies that just happened to have very close ties with the US government. This raises fundamental questions about the First Amendment that hopefully might be explored by Congress after the November elections. The American people deserve to know who is trying to shut them up…and why.
New jobs numbers are out...and they're not what the Biden Administration wants us to believe. Economic contagion is spreading worldwide...as is a growing populist response. What kind of recession are we going to have? Birch Gold's Phillip Patrick joins today's Liberty Report with his insights.
As UK Prime Minister Boris Johnson finally had his stiff white knuckles pried from power yesterday, the rest of Europe - starting with Holland - is erupting in massive protests. Is this the beginning of the end for Europe's Covid-lockdowning, Ukraine-obsessed, WEF-hob-nobbing elite? Mises Institute President Jeff Deist joins today's Liberty Report.
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