Tuesday , February 27 2024
Home / George Ford Smith

George Ford Smith



Articles by George Ford Smith

The Awesome Verbal Punching Power of Thomas Paine

7 days ago

Most public-school graduates have heard that Thomas Paine wrote something that convinced the colonies to declare their independence—though if they’re older than twenty-one their memory probably needs jogging. A few can even name what he wrote: Common Sense. And some can even incorrectly attribute a famous line to that pamphlet: “These are the times that try men’s souls.”
With rare exceptions, most people don’t give a whit about Paine or what he wrote. But then, most people don’t care much for American history. What they don’t care about they don’t know about, as Mark Dice has ably demonstrated. Only if something is posted on social media does it count, and probably not for long. Whatever causal effects the days of 1776 might have had, they’re long buried in the

Read More »

Climate Deniers Deny Socialism. That’s Why the Regime Hates Them.

13 days ago

So-called climate change is really an excuse for government to do what it does worst: intervene in our economic affairs. While government efforts will not cool the planet, they will make life more difficult for the planet’s inhabitants.
Original Article: Climate Deniers Deny Socialism. That’s Why the Regime Hates Them.

[embedded content]

Tags: Featured,newsletter

Read More »

Are You an Enemy of the State? Most likely

January 13, 2024

Donald Trump, Julian Assange, Alex Jones, and Rudy Giuliani are in deep trouble with the US state. How about you?
Most likely you feel safe because your voice hasn’t attracted a large following. What would the state’s enforcers gain by attacking a little guy? They’re big-game hunters. Pull the plug on the big guys and their everyday followers float away like bathtub water down a drain.
Possibly you believe you aren’t really attacking the state with your social media posts, just the corrupt regime currently in power. As long as your words don’t go too far off the rails you think trouble will leave you alone.
That’s the theory, at least.
Most libertarians are not Rothbardians. They think the state is necessary but needs to be slashed, not done away with—much like

Read More »

Can Government Regulate Artificial Super Intelligence?

November 23, 2023

The role of the infinitely small is infinitely large.”
― Ray Kurzweil, The Singularity is Near: When Humans Transcend Biology
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man. —GEORGE BERNARD SHAW, “MAXIMS FOR REVOLUTIONISTS”
― Ray Kurzweil, The Singularity is Near: When Humans Transcend Biology
Government as we know it likely won’t be around when artificial super intelligence (ASI) arrives. As I’ve argued elsewhere, states are fading fast from war, fiat money and debt, and I believe people will develop non-coercive solutions to social life when states finally collapse. Our “government” of the future will of necessity be a laissez-faire

Read More »

Liberty: Stifled by the Stockholm Syndrome

November 22, 2023

Governments regularly suppress freedom—yet few complain. One wonders if Stockholm syndrome is at work.
Original Article: Liberty: Stifled by the Stockholm Syndrome

[embedded content]

Tags: Featured,newsletter

Read More »

From the Invisible Hand to the Invisible Sleight-of-Hand

November 13, 2023

​Why are we using state money instead of market money? Put another way, why can’t we select the money we want to use? Cryptocurrencies are a market alternative, but they haven’t put state money out of business yet. If they ever threaten to do so, the state can prohibit them.
Market money is sound because of two essential features. First, it represents the market’s choice of a universally accepted medium of exchange, and second, it shackles government to a great extent, liberating the people. A state that prowls foreign lands in the name of freedom and democracy and keeps its domestic population in line with free stuff and threats has no interest in a currency it can’t will into existence. For this reason, governments hate sound money.
Even worse, people hate sound

Read More »

If the Fed Goes, The State Will Soon Follow

November 9, 2023

The leviathan US state would not be possible without the Fed underwriting its growth. But the Fed is not all-powerful, nor can it continue to exist by only creating chaos.
Original Article: If the Fed Goes, The State Will Soon Follow

[embedded content]

Tags: Featured,newsletter

Read More »

Liberty: Stifled by the Stockholm Syndrome

November 3, 2023

“Whenever and however [government] is instituted, the people must cede to it some of their natural rights in order to vest it with requisite powers.” (emphasis added)
—John Jay, “Federalist No. 2”
“Like breathing, [government] is not permitted to depend on our volition. Necessity will force it on all communities in some one form or another.”
—John C. Calhoun, A Disquisition on Government
“But whether the Constitution really be one thing, or another, this much is certain—that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist.”
—Lysander Spooner, No Treason: The Constitution of No Authority
Across the globe governments without exception are territorial rulers holding a supremacy of

Read More »

How the Fed Undermines Prosperity

October 28, 2023

The boom-and-bust cycles are not natural to a market economy, contra Keynes. Instead, government through monetary manipulation creates them—and then politicians blame markets themselves.
Original Article: How the Fed Undermines Prosperity

[embedded content]

Tags: Featured,newsletter

Read More »

How the Fed Undermines Prosperity

October 12, 2023

The term “roundabout” is not normally associated with efficiency, unless you’re an economist. Yet roundabout methods—when applied to production—are the key to prosperity.
Eugen von Böhm-Bawerk, the great Austrian economist of the late nineteenth and early twentieth centuries, provided examples illustrating how this idea works. Consider a farmer whose source of drinking water is some distance from his house. Whenever he gets thirsty, he can go to the spring and drink from his cupped hands—a nice, direct satisfaction of his needs. If “efficient” means to act directly to produce an effect, then it might appear the farmer has behaved most efficiently. However, he’ll need to slake his thirst several times a day, plus he has other uses for the water.
How efficient is

Read More »

States Are Dying from Corruption and the Exponential

October 1, 2023

The state is held together by violence and nothing else. There is no such thing as "the social contract." But even violence cannot make a state last past its time, as we saw with the USSR.

Original Article: States Are Dying from Corruption and the Exponential

[embedded content]

Tags: Featured,newsletter

Read More »

The Partnership from Hell

September 29, 2023

But once a commodity is established as a money on the market, no more money at all is needed.
—Murray Rothbard, Taking Money Back
The Fed’s distinguishing characteristic is its grant of privilege to buy assets with money it doesn’t have. No other person or institution can legally do this; those that tried would be indicted for counterfeiting.
At the very least you might think this would raise eyebrows, but it doesn’t except in fringe quarters. It is simply part of modern monetary gospel, never to be examined too closely.
Another part of the gospel is fractional reserve banking, wherein commercial banks create multiple claims to the same dollar through their lending activities. (See Alan Greenspan’s implicit endorsement of fractional reserve banking in his famous

Read More »

States Are Dying from Corruption and the Exponential

September 5, 2023

Technology is the main reason why so many of us are still alive to complain about technology.
—Garry Kasparov
If I take 30 steps linearly, I get to 30. If I take 30 steps exponentially, I get to a billion.
—Ray Kurzweil
While world leaders try to decide whether their interests are best served by World War III or some other imposed atrocity, various forces have states targeted for extinction. Chief among these forces is the exponential nature of evolution and technology, working together to advance human life. The other threat to the state’s existence is untreated self-inflicted wounds, which I’ll discuss later.
Let’s start with evolution. Shortly after the big bang, atoms started forming, then later, atoms combined into molecules. Carbon in particular gave rise to

Read More »

A Great Man Cannot Salvage a Bad Idea

June 8, 2023

When E.F. Hutton talks, people listen.
—1970s TV commercial
Imagine if your surname was synonymous with genius. And not just genius, but creative genius. Is there anything you could write or say that could be seriously challenged? Among your colleagues, certainly. Science is never closed, always debated, always contingent on certain postulates. But the lay public is apt to regard you as infallible.
Such has been the fate of Albert Einstein who today is best known for his theory of relativity and especially his equation E = mc2: the energy (E) of a body at rest is its mass (m) times the square of the speed of light (c). As astrophysicist Ethan Siegel explains it, “For every 1 kilogram of mass you turn into energy, you get 9 × 1016 joules of energy out, which is the

Read More »

Rothbard’s Button Doesn’t Exist, but It Needs to Be Invented

May 26, 2023

In 1948, Ludwig Erhardt rescued a German economy that was in shambles simply by invoking free markets and currency reform. Our economy needs its Rothbard moment.

Original Article: "Rothbard’s Button Doesn’t Exist, but It Needs to Be Invented"

[embedded content]

Tags: Featured,newsletter

Read More »

Neither Red nor Blue, but Free

May 13, 2023

The real issue we face is not whether we should be in the red tribe or the blue tribe, but rather what will be the constituency for freedom.

Original Article: "Neither Red nor Blue, but Free"

[embedded content]

Tags: Featured,newsletter

Read More »

Rothbard’s Button Doesn’t Exist, but It Needs to Be Invented

May 10, 2023

With totalitarianism accelerating on a global scale and having kicked off in earnest with government attacks on their own populations during the still-running ruse of the covid vaccine, the state as a necessary feature of civilization stands before us shamelessly as a blood-dripping monster.
And acting as tyranny’s bulldog is the state’s handmaiden and echo chamber, the legacy media.
Are future generations destined to live in an Orwellian nightmare?
Relying on the constitution and electing “good people” into office will not remove the source of our problems, which is: the government we inherited, the only organization that claims the legal right to fund itself coercively through taxes and bank counterfeiting. We’re attempting to live by a double standard—what’s

Read More »

Neither Red nor Blue, but Free

April 28, 2023

The human tendency to kill what one fears asserted itself on April 4, 2023, as a Manhattan district attorney called Donald Trump into his office to issue a vague threat.
What crime Trump was being charged with is known only to Alvin Bragg, but the rest of the world is left playing a guessing game.
Trump supporters are rallying everyone with a heartbeat to support their candidate. It’s survival time. Even a few Trump haters are finding a way to support Trump. Not that they want him back in the White House, perish the thought, but the Bragg travesty is more than even they can stand.
If Trump doesn’t win in 2024, the crumbling edifice that was once this country will come to rival the sack of Rome. Policies will amount to anything and everything that will wipe out the

Read More »

Facing the World at 18

April 13, 2023

My grandson will graduate from a public school in May, and my daughter, his mom, asked me to write a senior letter for him. He’s been part of my life since he was born, and we’re all very proud of him. But what do I tell him about the world he’s about to enter?
Right off he already knows his life itself has a claim on it by the State. If he fails to register for the draft, he could be sent to prison and fined $250,000. With enlistments falling off and the regime’s insatiable appetite for war, it’s possible his future would be cut short as a conscript fighting impoverished foreigners thousands of miles away, “defending our freedom” while sustaining the revenue flow of the Congressional/Military/Industrial/God-knows-what-else racket.
My grandson is too young to

Read More »

Can Civilization Survive without Sound Money?

April 1, 2023

As long as states are around, money will never be sound. But first, some clarity.
Sound money, per Ludwig von Mises, has two aspects: It serves as a commonly accepted medium of exchange, while also making it difficult for governments to meddle with it. We can see immediately that sound money is nowhere to be found in today’s world. All the current rhetoric about banks and their systemic risks are about money that’s subject to political expediency, the kind that brings civilization to its knees.
There is at least one group, however, putting up a good fight. In the US the Sound Money Defense League is working at a state level to bring gold and silver coin back as legal tender. According to their website:
. . . sound money activists are launching exciting initiatives

Read More »

The Last Lie Government Will Ever Tell

March 30, 2023

Western governments seem to relish a clash with Russia, despite the specter of nuclear war. If so, it will be a conflict built on government lies.

Original Article: "The Last Lie Government Will Ever Tell"
This Audio Mises Wire is generously sponsored by Christopher Condon. 

[embedded content]

Tags: Featured,newsletter

Read More »

The Last Lie Government Will Ever Tell

March 27, 2023

The more powerful a government, the more likely it is to engage in war and conquest. Case in point: US involvement in Ukraine.
In 2014 the US led a coup that displaced a “democratically elected” president, Viktor Yanukovych.
In November 2013, . . . Yanukovych rejected a major economic deal he had been negotiating with the EU and decided to accept a $15 billion Russian counteroffer instead. That decision gave rise to antigovernment demonstrations that escalated over the following three months.
Instead of waiting around for the next election, Yanukovych fled to Russia on February 22, 2014.
The new government in Kiev was pro-Western and anti-Russian to the core, and it contained four high-ranking members who could legitimately be labeled neofascists. . . .
[It was]

Read More »

Government Is as Government Does

March 20, 2023

If we have learned anything from hundreds of years of government oppression and atrocities, one thing is certain: government isn’t our friend.

Original Article: "Government Is as Government Does"
This Audio Mises Wire is generously sponsored by Christopher Condon. 

[embedded content]

Tags: Featured,newsletter

Read More »

We Are All Counterfeiters Now

March 7, 2023

Intellectuals and politicians often try to verbally summarize or justify conventional thinking in pithy ways. Milton Friedman (in 1965) and Richard Nixon (in 1971) both said different versions of the phrase “we are all Keynesians now.” . . . Friedman and Nixon were describing the thoughts behind the implementation of Great Society redistribution programs and an inflationary monetary policy designed to offset the cost of those programs.
—Brian Wesbury and Robert Stein, We Are All Keynesians Now
If there is one central myth supporting the folly that passes for monetary policy and by extension fiscal policy, it would have to be the unchallenged assumption that money should be defined and controlled by government.
Given the role of money in the economy—that it serves

Read More »

The Forgotten Lessons of Government-Enforced Race Relations

February 23, 2023

Judge Andrew Napolitano looks at the history of government and race relations in our nation’s history. It’s not a pleasant or uplifting story.

Original Article: "The Forgotten Lessons of Government-Enforced Race Relations"
This Audio Mises Wire is generously sponsored by Christopher Condon. 

[embedded content]

Tags: Featured,newsletter

Read More »

Does Government Create a “Level Playing Field” or Does It Make the Field More Uneven?

February 10, 2023

Bernie Sanders and other politicians have made socialism attractive to voters, especially young ones, because it promises to eliminate the injustices of capitalism. As to what socialism and capitalism mean, no one seems to care much, other than that by socialism, they mean a kinder, caring society without income extremes, whereas capitalism is the preferred system of ruthless exploiters who amass obscene fortunes while real workers struggle to survive.
In recent times capitalism has been broadly disparaged, including for attacks on Mother Earth and the air Al Gore breathes.
This has to stop. Today’s socialists simply want to make America great—but for everyone.
And that starts with taxation. The very, very rich pay almost no income taxes, and many of the biggest

Read More »

The Great Depression’s Patsy

January 15, 2023

[This article originally appeared in the January 4 edition of Lewrockwell.com.]
The culprit responsible for the Wall Street crash of 1929 and the Great Depression can be easily identified—the government.
To protect fractional reserve banking and generate a buyer for its debt, the US government created the Federal Reserve System in 1913 and put it in charge of the money supply. From July 1921 to July 1929, the Federal Reserve inflated the money supply by 62 percent, resulting in the crash in late October. The US government, following an aggressive “do something” program for the first time in American history, intervened in numerous ways throughout the 1930s—first under Herbert Hoover, then more heavily under Franklin D. Roosevelt. The result was not an easing of

Read More »

Woodrow Wilson’s Christmas Grift of 1913

December 26, 2022

We think of thieves as conducting their work when no one is looking, such as breaking into a house while the owners are away. But the most successful thieves have done their stealing in plain sight, on a grand scale, while the owners were home and often with their tacit approval, though with sleights of hand that few are able to detect. Such a theft occurred when Woodrow Wilson signed the Federal Reserve Act into law on December 23, 1913.
A central bank such as the Fed has a remarkable character. According to establishment boilerplate, its purpose is to stabilize the economy and ensure prosperity and “full employment.” The decision makers at the Fed are of necessity selected for their superhuman brilliance and neutrality of judgment, thus qualifying them to adjust

Read More »

The “Barbarous Relic” Helped Enable a World More Civilized than Today’s

December 13, 2022

One of history’s greatest ironies is that gold detractors refer to the metal as the barbarous relic. In fact, the abandonment of gold has put civilization as we know it at risk of extinction.
The gold coin standard that had served Western economies so brilliantly throughout most of the nineteenth century hit a brick wall in 1914 and was never able to recover, or so the story goes. As the Great War began, Europe turned from prosperity to destruction, or more precisely, toward prosperity for some and destruction for the rest. The gold coin standard had to be ditched for such a prodigious undertaking.
If gold was money, and wars cost money, how was this even possible?
First, people were already in the habit of using money substitutes instead of money

Read More »

The Fed Is Not “a Good Idea that Became Corrupt”: It Always Was Corrupt

December 3, 2022

There’s an idea rooted among some libertarians that the Federal Reserve was originally a sound institution but has grown corrupt. As a bankers’ bank, it was fine, they believe, but not as the monster it has grown to be. If we could only go back to the Fed’s founding charter, all would be well.
I’m thinking of two well-known financial analysts who are unsurpassed in their analytical brilliance and knowledge of markets and who rightly regard the bureaucratic Federal Open Market Committee (FOMC) as the father of bubbles, busts, stagnation, and market privilege. In their articles, Peter Schiff and David Stockman hammer the Fed relentlessly and rightfully for its cluelessness, corruption, and threat to our material and spiritual well-being. They have authored engaging

Read More »