External Sources
In an interview with then-Mises Institute vice-president Jeffrey Tucker, Tom Woods talks about his book Nullification and the concepts behind the political doctrine in connection with the Tenth Amendment. They also go through the history of nullification, starting with the Virginia and Kentucky Resolutions, written by James Madison and Thomas Jefferson respectively, in response to the…
The fear generated by media use of the words “government shutdown” is amazing. The hysteria peddlers using this terminology, and the media that purposely play to it, must know these two words emit such an extreme emotional response. It appears designed to frighten the least informed against the other political party, thus the terminology. It…
I was contacted by a reporter at HuffPo today with the following questions. In general, my reply is – “These government people suck,” but here’s the full conversation: Hi Michael, wanted to see if you can comment on the news that Dylann Roof was able to obtain his gun through a loophole in the national…
It’s almost “GO” time for the November elections, and hopefully people are starting to pay attention and are looking to vet candidates to see who they’ll vote for. In California Congressional District 26, the candidates are incumbent Democrat and Obama … Continue reading →
The Tenth Amendment Center is pleased to support this new venture and proud to announce that national communications director Mike Maharrey will provide regular content for the new website.
Kansas Star columnist Mary Sanchez wants the federal government to arrest suffering cancer patients using marijuana for pain relief and lock them up in cages. Granted, she’s not likely to admit it, but I think I stand on pretty solid ground making that assumption because she hates nullification. She said so in a recent column…
"Bulgarians’ lack of faith in institutions sparked runs on two banks and triggered the worst financial crisis in 17 years, the nation’s president said. 'Let me make this very clear: there is no banking crisis in my country, but there is a crisis of confidence,' Rosen Plevneliev said today. With low trust in institutions, rumors, attempts at destabilization and speculative attacks can 'create a panic,' the president said. The central bank blames an 'organized attack' of 'criminal actions' for the run on First Investment Bank. Corporate Commercial Bank lost deposits because of a dispute between a majority shareholder and a large depositor, Capital newspaper reported June 18, citing unidentified people." Continue reading →
"Because of the extent of the fraud, BNB say that nationalizing CorpBank is not an option – it describes it as 'a bottomless barrel'. The Bulgarian Finance Ministry estimates that the cost of the deposit guarantee will raise the public deficit from 1.8% of gdp to 3%, putting it at the Maastricht treaty limit. This will be seen as a considerable disappointment in Brussels, which in the recent European Semester report advised the Bulgarian government not to allow the deficit to rise any further. And it raises considerable questions about the capability of the BNB to supervise banks effectively. Only a month ago CorpBank was given a clean bill of health. Now it is bankrupt because of a major fraud." Continue reading →
"Surging mistrust of the euro during Europe’s debt crisis fed a campaign to bring Germany’s entire $141 billion gold reserve home from New York and London. Now, after the Free Democratic Party, which flirted with bringing the gold home, dropped out of Chancellor Angela Merkel’s coalition and was replaced by the Social Democrats, the government has concluded that stashing half its bullion abroad is prudent after all. Ending talk of repatriating the world’s second-biggest gold reserves is a rebuff to critics including the anti-euro Alternative for Germany party, which says all the gold should return to Frankfurt so it can’t be impounded to blackmail Germany." Continue reading →
"The sheer magnitude of the amounts of money used to combat the crisis - $2.6 trillion sitting at the Fed as bank reserves and $4.2 trillion held by the Fed in various securities - may complicate the U.S. central bank's ability to control its target interest rate once the decision is made that it should be raised. The Fed has neared consensus that its workhorse tool will be the interest it pays banks on excess reserves on deposit at the Fed. Another tool would have a similar impact but apply more broadly, using overnight repurchase agreements that would let money market funds and other institutions as well as banks essentially make short-term deposits at the Fed." Continue reading →