Print the page
Increase font size
Schwab's Face As Red As His Smacked Ass

Posted January 19, 2024

Sean Ring

By Sean Ring

Schwab's Face As Red As His Smacked Ass

Klaus Schwab's head must be as red as a ripe strawberry.

And that makes this an even happier Friday than usual.

I know we haven’t solved too many problems lately, but I still think things are turning in the right direction.

In Davos, new Argentine President Javier Milei and Heritage Foundation President Kevin Roberts laid their boots into a speechless elite.

Closer to home, Republican candidate and former US President, Donald J. Trump, promised to ban Biden Bucks, or Central Bank Digital Currencies.

You’ve got to celebrate your wins when you get them. So today is a day we revel.

Let’s get to the substance of their messages. First, we head to Davos.

Milei Roasts WEF… at the WEF.

Doing his best Ricky Gervais impersonation, new Argentine President Javier Milei laid down the law. Damn the consequences!

It was a sight to behold as Milei advocated freedom and denounced collectivism.

Milei opened his speech with this:

Today I am present to inform you that the Western world is facing a significant threat. It is in danger because those who are supposed to defend the values of the Western world are co-opted by a worldview that inevitably leads to socialism and consequently to poverty and economic deprivation. Unfortunately, in recent decades motivated by some well-intentioned desires to help others and others by the desire to belong to a privileged caste. The main leaders of the Western world have abandoned the model of freedom for different versions of what we call collectivism. We are here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world, but rather they are their cause.Trust me, there is no one better than us Argentines to provide testimony on these two issues. 

I could imagine the stifled gasps for air in the auditorium. Isn’t the WEF all about collectivism? How will they ever get us to “eat ze bugs?”

After showing that world GDP growth up to 1800 was zero, he goes on to say:

Now when studying per capita GDP from 1800 to today, what is observed is that after the Industrial Revolution, global per capita GDP multiplied by more than 15 times, generating an explosion of wealth that lifted 90% of the world's population out of poverty. We must never forget that by the year 1800, about 95% of the world's population lived in extreme poverty. While that number dropped to 5% by the year 2020 prior to the pandemic. The conclusion is obvious: far from being the cause of our problems, free market capitalism as an economic system is the only tool we have to end, hunger, poverty, and destitution throughout the planet.

The empirical evidence is unquestionable, therefore, as there is no doubt that free market capitalism is superior in productive terms.

And then, after Schwab called libertarianism the “anti-system,” Milei defined it for all posterity.

Now, in order to understand what we come to defend, it is important to define what we mean when we talk about libertarianism. To define it, I take up the words of the greatest proponent of the ideas of freedom in Argentina, Professor Alberto Venegas Lynch, who says that libertarianism is the unrestricted respect for the life project of others based on the principle of non-aggression and in defense of the right to life, liberty, and property, whose fundamental institutions are private property free markets without state intervention, free competition, division of labor, and social cooperation, where one can only be successful by serving others with goods of better quality at a better price.

In other words, the capitalist, the successful entrepreneur is a social benefactor who contributes to the well-being of society as a whole. In short, a successful entrepreneur is a hero. This is the model that we are proposing for the future of Argentina, a model based on the fundamental principles of libertarianism, the defense of life, freedom, and property.

Milei said much more, but this was especially powerful:

The market is a mechanism of social cooperation where property rights are voluntarily exchanged. Thus, considering this definition, discussing market failure is a contradiction in terms. There is no market failure if transactions are voluntary. The only situation in which there can be a market failure is if there is coercion present, and the only one with the ability to coerce in a generalized manner is the state that possesses the monopoly of violence.

Consequently, if someone considers that there is a market failure, I would recommend that they check if there is state intervention in the middle. If no state intervention is found, I suggest re-analyzing, as it is definitely wrong. [Sean: HA!] Market failures do not exist.

An example of the alleged market failures described by neoclassicals is concentrated structures in the economy. However, without functions that demonstrate increasing returns to scale, whose counterparts are the concentrated structures of the economy, we would be unable to explain the phenomenon of economic growth from 1800 to the present day. 

It was a beautiful thing.

Next is a surprise from Heritage Foundation President Kevin Roberts.

Roberts Dismisses WEF Panel Runner

I don’t agree with Roberts on everything he said. But I’m still glad he said it.

He kicked off superbly:

It's laughable that you or anyone would describe Davos as protecting liberal democracy. 

I'll be candid here because I think I've been invited here.

To be candid, elites tell us that open borders and even illegal immigration are okay. The average person tells us in the United States that both rob them of the American way of life.

Elites also tell us that public safety isn't a problem in big American cities. Just travel to New York or Washington or Dallas, Texas. The average person will tell you that the lack of public safety damages not just the American way of life but their life.

Elites tell us that we have this existential crisis with so-called climate change. The solutions, the average person knows cost more human lives, especially in Europe during the time that you need heating than do the problem in the problems themselves.

The fourth is China, the number one adversary, not just to the United States, but to free people on planet Earth. Not only do we at Davos not say that, we give the Chinese Communist Party a platform.

And fifth, as we sit here, another supernational organization, the World Health Organization is discussing foisting gender ideology upon the global south. These are practices that are under review, if not being rejected by countries in Northern Europe.

The new president, especially if its President Trump, will as you like to say, “trust the science.” He will understand the basic biological reality of manhood and womanhood.

And do you know why? Not because of retribution, not because he's a dictator, but because he has the power of the American people behind him.

Let me just correct the slight assertion you made there. We want Ukraine to win. We want to see Ukraine win with a lot more help from European allies. I think the United States has a role. Heritage has been clear about this for two years now, that there is a world in which we support military aid for Ukraine. 

Our first obligation in foreign policy is to look at it through the lens of what's best for the American citizen. Joe Biden has done a godawful job in articulating what that is.

The kind of person who will come into the next conservative administration is going to be governed by one principle, and that is destroying the grasp that political elites and unelected technocrats have over the average person.

And if I may, I will be candid and say that the agenda that every single member of the administration needs to have is to compile a list of everything that's ever been proposed at the World Economic Forum and object to all of them wholesale.

Wow. Powerful stuff right in the center of Davos.

Finally, on to The Man Himself, Donald J. Trump.

Trump Promises to Ban Biden Bucks

Reader, take a bow. We couldn’t have done it without you.

When Paradigm Press started writing about Biden Bucks or Central Bank Digital Currencies, we merely hoped it would have a significant impact.

Thanks to your spreading the word, you’ve won a great victory… if the election goes our way.

Yesterday, in front of a crowd in Portsmouth, NH, the once and future president told the crowd he decided to ban the Fed from pursuing a CDBC.

From Zero Hedge:

Former President Donald Trump on Wednesday vowed to never allow the use of a Central Bank Digital Currency (CBDC), as it would "give the government absolute control over your money."

"This would be a dangerous threat to freedom – and I will stop it from coming to America. We are also going to put in place strong protections to stop banks and regulators from trying to de-bank you for your political beliefs. That will never happen while I am your president," Trump told a crowd in Portsmouth, New Hampshire - as first reported by The National Pulse.

What a great couple of days!

Wrap Up

Milei, Roberts, and Trump got the elite on the ground and kicked the mess out of them.

Let freedom ring and damn the Biden Bucks.

Who knows? Things may be getting better…

Have a wonderful weekend!

Market Wizards’ Humor

Posted April 11, 2024

By Sean Ring

It's time for a laugh... if not, you'll cry.
Measure Twice, Cut Once

Measure Twice, Cut Once

Posted April 11, 2024

By Sean Ring

You better be sure, Mr. Chairman.
The Club You Ain’t In

The Club You Ain’t In

Posted April 10, 2024

By Sean Ring

Who are the Bureau of Labor Statistics “Super Users?”
King: Can Silver Pull a Cocoa?

King: Can Silver Pull a Cocoa?

Posted April 09, 2024

By Byron King

Silver at $75?...
Time To Swing For The Fences

Time To Swing For The Fences

Posted April 08, 2024

By Sean Ring

As gold and silver go hyperbolic, this is your chance to create wealth for your family.
A Watery Grave

A Watery Grave

Posted April 05, 2024

By Sean Ring

The US Empire sues for peace with… the Houthis.