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Fractional Reserve Banking, Government, and Moral Hazard

Last week my subcommittee held a hearing on fractional reserve banking and the moral hazard created by government (taxpayer) insured deposits. Fractional reserve banking is the practice by which banks accept deposits but only keep a fraction of those deposits on hand at any time. In practice, nearly 100% of deposits are loaned out, yet

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Independence Day: 100 Resources for Liberty

We in the United States are about to receive a once-in-a-lifetime opportunity to reclaim our birthright, the liberty which the state has been whittling away day-by-day from the moment the Constitution was written. I am not talking about the presidential election. I’m referring to the impending collapse and dissolution of the United States.

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Audit the Fed Headed for the House Floor!

Last week supporters of Federal Reserve transparency had a major victory when the House Committee on Government Oversight and Reform passed my Audit the Fed bill, HR 459 unanimously with all major audit provisions intact. This clears the way for a House floor vote expected sometime in late July, and with a whopping 263 cosponsors, the chances of it passing have never looked better! This is an unprecedented opportunity for transparency into how the currency of the United States is handled, and mishandled by the Federal Reserve. It is more important than ever that my colleagues in the House and Senate understand what this legislation does and why it is so important.

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Health Insurance at Gunpoint is OK; Now Eat Your Broccoli Or Else

In a somewhat surprising 5-4 decision, the United States Supreme Court upheld the contentious ObamaCare law, which requires all Americans to purchase health insurance. The ramifications of the decision, though, go far beyond health care.

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The CBO Sees the Economic Cliff Ahead

Last week the Congressional Budget Office (CBO) issued its annual long-term budget outlook report, and the 2012 numbers are not promising. In fact, the CBO estimates that federal debt will rise to 70% of GDP by the end of the year — the highest percentage since World War II. The report also paints a stark

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Liberty Conspiracy – 2-4-10 Tarrin Lupo on Black Markets!

Join us as we hand over the production reins to Conspirator Tarrin Lupo, who delves into the government policies that drive people to work in black markets, and how it happens all around us — to the detriment of gubment, and the betterment of free people. Check it out! Be Seeing You! Audio clip: Adobe

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Everything You Know About Unions Is Wrong: 12 Labor Union Myths

The U.S. Bureau of Labor Statistics announced last week that for the first time, the number of government employees in unions exceeded the number in the private sector, which fell to a new low of 7.2 percent, down from 7.6 percent in 2008. At the same time the number of government employees in unions rose

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Gay newspaper network shut down

Years ago during the Clinton administration I visited Washington, D.C., and not knowing what it was, I picked up a copy of the Washington Blade near a Metro station. I don’t recall much of what was in that week’s edition, but I remember being impressed with the paper’s coverage of the issues important to gays

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Do newspapers need government bailouts?

New Hampshire’s guarantee of a $250,000 line of credit for a local newspaper freshly emerged from bankruptcy is raising fresh questions about whether media outlets which receive government assistance can remain independent, and whether government should offer such assistance at all. Last week the state’s Executive Council agreed without debate to a Business Finance Authority

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The Big Bailout Circus

The Big Bailout Circus has the nation in stitches. Taxpayers are being sewn into a skin-tight forever suit by an amazingly bipartisan group of government clowns. But despite the agreement about the need for a slap dash redo of the U.S. financial system — and by extension our political system — the designing bozos disagree

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