Claude Frédéric Bastiat (b. 1801-1850) was a French, classical liberal theorist, political economist, Freemason, and member of the French National Assembly whose fundamental ideas have provided a foundation for libertarianism. In economics, Bastiat is remembered for his concept of opportunity cost and for introducing the parable of the broken window or the “glazier’s fallacy.” Essentially, a […]
Well if you live in Portland, you better get your kids out of school. The Portland school board is against free speech. Portland public schools have banned all textbooks that cast any doubt on climate change. They are tampering with free speech and denying any scientific examination by converting climate change into dogma and propaganda. This illustrates […]
On June 23, the people of Britain will decide whether to exit (BREXIT) the European Union. The outcome of this historic vote will determine Britain’s future. This is an incredibly important vote for it will determine the fate of note just Britain, but also Europe as a whole. This special “BREXIT” report answers many of […]
A strong opening hour (+1%) for the Nikkei on the back of a better than expected data release (Wages and Services) but by late morning had fallen back to unchanged. The second half of the day saw all core indices edge higher to close around 0.5% across the board. All eyes will be on the US […]
The Nonfarm Payrolls came in substantially lower than expected. The dollar dropped with gold rising, but the Dow did not crash on the open in the same percentage move. So what is really going on here? The economy is in a transition phase that is the same as what took place during the 1920s. Back […]
HSBC is altering its oversight of safe-deposit boxes in Hong Kong. Governments are targeting safe-deposit boxes to look for cash that is hiding from taxation. HSBC, a U.K. bank, is now moving against claimed financial crimes by altering conditions for safe-deposit boxes. This is becoming a global trend. Anything of value that is stored in a […]
The familiar phrase “We the People” no longer means what it used to. The majority of Americans do not understand how the law is made and assume Congress proposes all legislation and therefore makes law. That is not the case. The president can refuse to enforce any law or impose it arbitrarily under the claim of discretion, […]
The Nikkei (cash) really hit the tiles today (-2.3%) having received confirmation of the delay to the Sales Tax and its two year reschedule. The JPY saw the flight to quality resulting in a 1% rally to hit a 108.50 high. 10yr JGB’s traded from -10bp to -11.5bp. As stated yesterday it will not be […]
The Swiss village of Oberwil-Lieli voted not to accept any refugees whatsoever, preferring to pay a fine of around $300,000 to the federal government of Switzerland who agreed to accept 50,000 refugees. The people of Oberwil-Lieli said they would rather pay the fine than accept these people in their small village as it would risk destroying […]
