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This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
That is probably why economists rarely run successful businesses.
but the most interesting thing was how GE used a 57,000-page tax return to get its income tax bill down to zero despite profits of $14.2 billion worldwide and $5.1 billion in the U.S.2
Next time you’re at a supermarket checkout line, ask the cashier what her major was. She’ll probably tell you. Perhaps it was English or history.
interpreted. It’s not written in Chinese. The Constitution is clear. It means precisely what it says. The problem is that liberal judges do not like what the Constitution says so they change its meaning and call it interpretation.
So to keep rates down, the Fed will have to buy any bonds our creditors refuse to roll over. The problem is that the more money the Fed prints to pay off maturing bonds, the more inflation it must create to buy them. This process feeds on itself. Soon
