It’s not like Socialism has a monopoly on horrifying unintended consequences. In fact, human history teaches something far bleaker: every formalized system of government we’ve created has been perfectly capable of facilitating mass murder, class warfare and repressive regimes. – Justin Boland, “The Revelation of the Method” (Skilluminati Research; Nov. 27, 2010)
Here is an excellent video by Stefan Molyneux, the host of Freedomain Radio:
Powerful ideas for all lovers of personal and political freedom – Freedomain Radio is the largest and most popular philosophy show on the web, and was a Top 10 Finalist in the 2007, 2008 and 2009 Podcast Awards. Topics range from politics to philosophy to science to economics to relationships to atheism – and how to achieve real freedom in your life today. Passionate, articulate, funny and irreverent, Freedomain Radio shines a bold light on old topics, and invents a few new ones to boot!
I like what I’ve seen so far. Have a look and enjoy!
I am more convinced now, as I wasn’t when Paul Kennedy wrote about the rise and fall of great powers, that the West has gone over the tipping point in its terminal decline. That intelligent people, or people who claim to be intelligent, (I have in mind the talking heads in the U.S. media such as Chris Matthews or Fareed Zakaria) cannot make the difference between the sham of the Muslim Brotherhood talking about freedom and democracy and the generic thirst in man to be free. These are the people who have like the Bourbons learned nothing and forgotten nothing. They are glibly about to put the Lenins of our time into trains heading for Moscows of our time, they find nothing odd that they are pushing for the Muslim Brotherhood to be taken into governing when everything needs to be done to keep the Muslim Brotherhood out even as one carefully negotiate the long historic transition of Arab societies from tribal autorcracy and military dictatorships to representative rule and constitutionally limited government.
For a dose of GET REAL, have a listen to this lady:
I’d like to thank everyone who visited The Gryphon’s Edge in 2010 for their support. I was extremely pleased with the insightful comments that I received on some of the articles that I posted and I’m thankful for the thoughtful readers who dropped by. Thanks, also, to WordPress for offering us this wonderful platform so we can share ideas and make connections. Happy New Year and best of wishes to all of my readers out there! – Greg Hindbo
The stats helper monkeys at WordPress.com mulled over how this blog did in 2010, and here’s a high level summary of its overall blog health:
The Blog-Health-o-Meter™ reads This blog is doing awesome!.
A Boeing 747-400 passenger jet can hold 416 passengers. This blog was viewed about 1,600 times in 2010. That’s about 4 full 747s.
In 2010, there were 70 new posts, growing the total archive of this blog to 150 posts. There were 67 pictures uploaded, taking up a total of 11mb. That’s about a picture per week.
The busiest day of the year was September 18th with 30 views. The most popular post that day was Karl Denninger – one of the few WHO GETS IT: “The Thorium Fuel Cycle (liquid salt reactors) is the obvious way forward.”.
Where did they come from?
The top referring sites in 2010 were facebook.com, gryphonsquill.wordpress.com, webapp.trafficfacts.com, en.wordpress.com, and cordless-homephone.info.
Some visitors came searching, mostly for let us go forward together, the gryphon’s edge, winston churchill, ralph juergens, and winston churchill let us go forward together.
Attractions in 2010
These are the posts and pages that got the most views in 2010.
“Let Us Go Forward Together.” August 2010
About August 2009
Ralph Juergens: Hero. October 2010
Here’s what the SEC alleges (you can find this over at Zero Hedge):
The SEC alleges that one of the world’s largest hedge funds, Paulson & Co., paid Goldman Sachs to structure a transaction in which Paulson & Co. could take short positions against mortgage securities chosen by Paulson & Co. based on a belief that the securities would experience credit events.
According to the SEC’s complaint, filed in U.S. District Court for the Southern District of New York, the marketing materials for the CDO known as ABACUS 2007-AC1 (ABACUS) all represented that the RMBS portfolio underlying the CDO was selected by ACA Management LLC (ACA), a third party with expertise in analyzing credit risk in RMBS. The SEC alleges that undisclosed in the marketing materials and unbeknownst to investors, the Paulson & Co. hedge fund, which was poised to benefit if the RMBS defaulted, played a significant role in selecting which RMBS should make up the portfolio.
The SEC’s complaint alleges that after participating in the portfolio selection, Paulson & Co. effectively shorted the RMBS portfolio it helped select by entering into credit default swaps (CDS) with Goldman Sachs to buy protection on specific layers of the ABACUS capital structure. Given that financial short interest, Paulson & Co. had an economic incentive to select RMBS that it expected to experience credit events in the near future. Goldman Sachs did not disclose Paulson & Co.’s short position or its role in the collateral selection process in the term sheet, flip book, offering memorandum, or other marketing materials provided to investors.
The SEC alleges that Goldman Sachs Vice President Fabrice Tourre was principally responsible for ABACUS 2007-AC1. Tourre structured the transaction, prepared the marketing materials, and communicated directly with investors. Tourre allegedly knew of Paulson & Co.’s undisclosed short interest and role in the collateral selection process. In addition, he misled ACA into believing that Paulson & Co. invested approximately $200 million in the equity of ABACUS, indicating that Paulson & Co.’s interests in the collateral selection process were closely aligned with ACA’s interests. In reality, however, their interests were sharply conflicting.
According to the SEC’s complaint, the deal closed on April 26, 2007, and Paulson & Co. paid Goldman Sachs approximately $15 million for structuring and marketing ABACUS. By Oct. 24, 2007, 83 percent of the RMBS in the ABACUS portfolio had been downgraded and 17 percent were on negative watch. By Jan. 29, 2008, 99 percent of the portfolio had been downgraded.
Investors in the liabilities of ABACUS are alleged to have lost more than $1 billion.
The SEC’s complaint charges Goldman Sachs and Tourre with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5. The Commission seeks injunctive relief, disgorgement of profits, prejudgment interest, and financial penalties.
Dylan Ratigan does a great job explaining the con:
Vodpod videos no longer available.
Vodpod videos no longer available.