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46  Videos / Other Videos / Re: Say it ain't so: Dr. Paul backs Romney! on: July 09, 2012, 11:03:36 PM
HAHAHAHA. Rick Roll'd.
47  General Category / General Discussion / Re: A great way to grow this forum on: July 09, 2012, 11:01:10 PM
Great idea!  I think it should be carefully planned though and we should not be disrespectful of others opinions.  If we start throwing ad hominems at each other then we will get nowhere and people will just dig trenches.
48  General Category / General Discussion / Re: 20% Off Anarchist Flags For Forum Members on: July 08, 2012, 11:13:00 AM
Isn't having a flag counter-intuitive to anarchy?
49  General Category / General Discussion / Re: Investing on: July 08, 2012, 11:02:55 AM
I cannot tell you what your investments should be since I am not you.  I do not know your risk adversity.  I can tell you what I think is a safe bet.

You should have at least $1,000 in emergency cash.  In addition you should have 6 months - 1 year of expenses in cash.  Yes, fiat currency.  This is in case you immediately lose your job.  I also recommend paying off your debt.  Yes, inflation does reduce the value of your debt, but as a good voluntaryist you do have an obligation to pay off the debt.  By paying down your debt you are in essence increasing your savings.  Remember, it may take many years before there is a widespread financial collapse and hyperinflation, and there will be fluctuations between then.

Depending on your age, I would recommend having a ROTH IRA.  However I would not put too much into it, you can still make money in the stock market and you want to at least be safe from all angles.  It might not be a bad idea to invest in real estate and good businesses.  If you think there will be total chaos tomorrow then buy a farm?  Who knows, it may be 100 years before there is a financial collapse, if at all, that will destroy the US Dollar as we know it.  It took the Roman Empire 700 + years and it became a dictatorship long before the empire collapsed.

I recommend that you put at least 10-25% of your net worth in precious metals, preferably tangible bullion.  Remember, gold is money.

I cannot say whether you should do anything legal, or illegal because I do not want anyone to end up in jail.  I will say that when buying gold online, you can purchase up to $10,000 worth via bank wire, money order, or check, without the company reporting it to the IRS.  Obviously paying with credit card leaves a trace, but if it is under $10,000, I don't think you have much to worry about.  Most companies that sell precious metals have very strict privacy policies.

There is one big problem with gold.  Governments own most of it since they confiscated it and locked up people that didn't turn it in.  Several years back Great Britain was going to dump a lot of it's gold on the market to raise some money.  The only reason they didn't was because the US gov asked them not to.  I am not sure what prompted the US to care.  Maybe they wanted the price to rise so the gov's can get more for the gold, or were afraid of a fiat currency collapse.  That is just speculation of course.  The fact remains that the US government and many other governments around the world are sitting on huge sums of gold.  They have the ability to inflate that too.  

Actually, over 50% of the gold ever mined in human history is used in jewelry and owned by individuals.  Another 12% is used in manufacturing.  Only 17.5% of all the gold ever mined is held by government institutions.

The British government did sell off a huge chunk of their gold holdings.  It was one of the biggest investment mistakes of the century.
50  Questions And Challenges / Questions About Anarcho-Capitalism / Re: How will corporations work in a free market? on: July 08, 2012, 10:23:20 AM
I try and search for inconsistencies in individuals, organizations, governments, and myself.  I find that pointing out inconsistencies makes us better people and organizations and enlightens the virtues of capitalism when it comes to government.

One of my biggest inconsistencies as an anarcho-capitalist is that I am the CEO of a corporation.  The reason why is the tax incentives imposed by the government.  Does my search for minimizing taxes to the legally lowest limit balance out my inconsistency?  I do not know.  I will say that I will never make my company a publicly traded company and I will not rent seek, or join professional organizations that involve themselves in rent seeking.

Would companies like Wal-Mart, P&G, and Coca Cola (all corporations that rent seek) be as large as they are today in a free market world?  My gut says no, but I cannot actually say if they would be or not. 

In a free market, it is important for companies to raise large amounts of capital.  The great thing about free markets is that you do not have to know all the answers.  The free market will find an efficient system for larger companies to raise lots of capital, we don't have to know what that system is until we can actually play in the sandbox and experiment ourselves.  Obviously there may be kinks on the way, but there often is and they work themselves out.
51  General Category / General Discussion / Re: Austrian econ according to a Leninist socialist on: July 08, 2012, 10:09:52 AM
Not a false dichotomy at all. The anarcho-capitalist focuses on "liberty" and "individualism" as the center of their ideology. When you focus on only the individual, or ignore how it affects society as a whole, you end up with, well, capitalist imperialism, wage slavery, economic disparity etc etc.

Mises dismissed statistics as not relevant to economics, that's what I said. You can't understand aggregate behavior without statistics. Statistics is how you find that shit out. You're not very bright, are ya? lol

I would not call myself an Austrian economist, but I have read enough about it to know that the article does not understand Austrian economics and either you did not read Human Action or do not understand it. 

Being a social animal and a rationally self interested being is not mutually exclusive.  In fact, I would say that wanting the "human touch, that connection that keeps us happy and sane" is part of being self interested.  Nowhere does Mises say that economics relies on an individual living on an isolated island by himself. An economy consists of tens, hundreds, thousands, millions, or billions of individuals making choices for themselves on a daily basis.  Nowhere does it imply that individuals are hermits that do not interact with themselves. 

Austrian economists today do not reject empirical work.  If you've read what any Austrian scholars have written you will see that many of their works include data and in some cases econometrics.

Your comments on prices are interesting.  It was the Austrians who came up with the Subjective Theory of Value, and most economists today find it to be valid.  Prices are subjective.  They are not determined by the labor costs + profit margin.  Companies produce new products every day.  In some cases they produce new products that fail.  When they release the product, people will not pay the price that the company sells them for and will only pay less than what the labor costs are.  This happens more than you think.  That's because they think that the new product is not worth the amount of money that is being asked for it.  In these cases, the company have to lower the price and sell these products at a loss (sunk cost), and stop making the product.

The fact is that each individual does have their own preferences.  We all may need food, but I may prefer steal while someone else prefers hamburgers, and a third person prefers hot dogs.  I may only want an 8oz steak and 3 potatoes to consider myself full, while someone else may want a 14oz steak and 1 potato to satiate their hunger.  These are all individual preferences.  When you combine everyone's individual preferences, an economy forms.  When thousands of people are following their individual preferences, companies are created, products are produced, people are hired, and an economy forms through voluntary interaction. 
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