"Socialism in the 21st Century", by Dr. Yuri Maltsev, delivered at the University of Iowa, April 21, 2010. This event was sponsored by the University of Iowa Austrian Economics Club and recorded by Radio Free Market, Michael McKay, Host

By CHOE SANG-HUN

Reprinted from the New York Times

Published: July 15, 2010

SEOUL, South Korea — North Korean doctors perform surgeries without anesthesia in clinics where hypodermic needles are not sterilized and sheets are not washed, the human rights group Amnesty International said in a report released on Thursday.

By Scott Smith

Recently by Thomas DiLorenzo: False Virtue: The Politics of Lying About History

The Daily Bell is pleased to present an exclusive interview with Thomas DiLorenzo.

Introduction: Thomas James DiLorenzo is an American economics professor at Loyola University Maryland. He is also a senior faculty member of the Ludwig von Mises Institute and an affiliated scholar of the League of the South Institute, the research arm of the League of the South, and the Abbeville Institute. He holds a Ph.D. in Economics from Virginia Tech. DiLorenzo has authored at least ten books, including The Real Lincoln: A New Look at Abraham Lincoln, His Agenda, and an Unnecessary War, Hamilton's Curse: How Jefferson's Arch Enemy Betrayed the American Revolution – and What It Means for Americans Today, How Capitalism Saved America: The Untold History of Our Country, From the Pilgrims to the Present, and Lincoln Unmasked: What You're Not Supposed To Know about Dishonest Abe. DiLorenzo lectures widely, and is a frequent speaker at Mises Institute events.

An Interview reposted from The Daily Bell, Sunday, April 25, 2010 – with Scott Smith (www.thedailybell.com)

Introduction: Douglas French is president of the Mises Institute and author of Early Speculative Bubbles & Increases in the Money Supply. He received his Masters degree in economics from the University of Nevada, Las Vegas, under Murray Rothbard with Professor Hans-Hermann Hoppe serving on his thesis committee.

Daily Bell: Can you give us some background about yourself? Where did you grow up and how did you become interested in Austrian economics?

Tuesday, April 6, 2010

(Our Thanks to Robert Wenzel at www.economicpolicyjournal.com for alerting RFM to this story)

Rick Bookstaber, who is a a Senior Policy Advisor to the Director of the SEC, Mary Schapiro, continues to maintain his own private non_SEC affiliated blog.

Prior to joinning the SEC, Bookstaber served as the managing director in charge of firm-wide risk management at Salomon Brothers, director of risk management at Moore Capital Management, and Morgan Stanley's first market risk manager. He is the author of three books and a number of articles on finance topics ranging from option theory to risk management, and has received various awards for his research. He holds a Ph.D. in Economics from the Massachusetts Institute of Technology.

On his blog he writes that he doesn't think:

    ...we will see a big crisis emerging for some time in banks, hedge funds or derivatives, mostly because, like with a knockout punch, the risks that matter don’t come from where you are looking...

He is not so sanguine about the municipal bond market:

All,
Early in the AM of April 1st, 2010 GATA.org (The 'Gold Anti-Trust Action Committee' which is the principle site documenting the manipulation of the Gold Markets) ran an "offer" to sell 191 Tonnes of Gold according to the Same Terms that the International Monetary Fund (IMF) offers it's Gold to the various Central Banks around the world (which are hard to take seriously, yet they are).

I decided to "take them up on their offer" and sent my offer to them in writing.

They, in turn, replied.

All three exchanges are valuable as they provide a lesson in the Fallacious/Fictitious Accounting and Banking Practices that are....unfortunately....promulgated by the IMF and all the Central Banks around the world.

Enjoy the three exchanges.
MM

1. From GATA.org

GATA will sell 191 tonnes of gold on IMF's terms but $100/oz cheaper
Submitted by cpowell on Thu, 2010-04-01 04:08. Section: Daily Dispatches

12:13a ET Thursday, April 1, 2010

Dear Friend of GATA and Gold:

The Gold Anti-Trust Action Committee today offered to sell 191.3 tonnes of gold, tonnage equal to that remaining to be sold by the International Monetary Fund, on the same terms offered by the IMF except $100 per ounce below the London PM gold fix price on the day prior to purchase.

This is an important part of American History that very few know about.

http://www.tenthamendmentcenter.com/2009/03/04/the-states-rights-tradition-nobody-knows/

http://www.lewrockwell.com/wilson/wilson33.1.html

http://muse.jhu.edu/journals/ohio_history/v114/114.gannon.html

Understanding the Potential Events of 2010 and Beyond

By Michael McKay

President, Iowa Capital Management, Inc

February 19, 2010

Executive Summary: The Fed has exploded the Basic Money Stuff (Excess Reserves) that is used by Banks to create and then lend out money (out of thin air). Banks are not yet substantially lending this money out. The Monetary Model (Keynesianism) which the Fed uses demands that this money be lent out. The Government is then forced to get that money into circulation through Welfare and Warfare – the two most expensive things the Government can do. The Gigantic Pool of Basic Money Stuff will get into circulation. Purchasing Power will collapse and here will be a hyper-inflationary event. Gold and Silver will be very important. There is a way out; Stop Fractional Reserve Banking altogether and go to a 100% Reserve System – however this is very unlikely.

1. The explosion of “Excess Reserves” from $1.4 Billion in January 2008 to $1.119 Trillion in February 2010 is a big problem and it will become a bigger problem since the Federal Reserve will likely add even MORE excess reserves in the future.