Description

Adrian Day is a money manager who describes the current economic environment as akin to Alice in Wonderland. Not only are governments offering and successfully selling bonds of very long terms at absurdly low rates, an enormous amount of capital is tied up in bonds earning negative yields. You don’t have to follow the herd down this road to ruin.

He and I caught up at the latest New Orleans Investment Conference, where Day delivered two presentations, along with manning his booth.* Recordings of the event are now available for those who either didn’t attend or who would like to review what they saw.

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Meet the hosts

Fergus Hodgson is the chief executive of Antigua International, a consulting firm that connects the Americas, and he is the roving editor of Gold Newsletter. Originally from New Zealand, he has been a nomad for the past eight years, and his personal blog is the Stateless Man.
Brien Lundin is president and CEO of Jefferson Financial, which publishes Gold Newsletter and hosts the New Orleans Investment Conference. He has four decades of experience in investment markets.

discussions

  • What role (if any) should the gov’t play in the continued funding of cutting-edge scientific research? According to the OECD (Organization for Economic Cooperation and  Development), approximately 10% of all R&D conducted globally is directly funded by governments, with approximately 60% done by private industry and 20% by educational institutions. Granted, this number probably doesn’t take into account indirect gov’t funding through tax subsidies and incentives. That 10% goes towards projects on the cutting edge of science, such as NASAs various space ventures and the Large Hadron Collider at CERN (funded through the governments of the member states). Proponents of big gov’t science, such as Neil Degrasse Tyson, have stated in the past that projects like these are unlikely to be privately funded due to their high risk, high cost, and lack of return on investment. Gov’t, claims Tyson, is required to make the initial step and take all the risk so that private firms can follow in its wake with a clear picture of the requirements of such endeavours. TAM 2011: Our Future in Space Would such high risk, high cost projects be possible without gov’t backing?

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  • It can be a challenge to keep up with all the taxes one needs to pay throughout the year, and than to deal with all the paperwork that needs to be filed can be frustrating. What would be a good way to simplify the Tax Code? Below is a list of some of the taxes that we the people need to pay, or at least we experience their effects at one time or another. -Medicare, Medicare, Social Security, Federal Inocme Tax, State tax, Local Tax, Corporate tax, Sales Tax, Property Tax, estate tax, alcohol tax, tobacco tax, gift tax, tariffs on imports and exports, etc. Would a simple flat or consumption tax do the trick?

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  • Venezuela has the highest violent crime rate in the world. Though it is not moral or justified, people choose violence over starvation when there are no alternatives. Of course, “we” libertarians all know that this situation was created by government/s coercion’s consequences, but so few among the greater population seem to recognize that. It seems like a similar fate faces the whole world.

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  • I sold all of my EE bonds in 2014 and bought Bitcoins with the proceeds. I did this because I considered holding them to be willfully receiving stolen money. As everyone knows, Treasuries are backed by the full faith and credit of a state, along with its taxing power. My conclusion is that no consistent libertarian should be using T-bonds or T-bills. Thoughts?

    Jump to Discussion Post 3 replies
  • This is a question that libertarians and constitutional conservatives have different views and answers on. Some libertarians are anarchist and want no state to exist per Murray Rothbard. Others prefer a LIMITED govt that only provides certain services like police, courts & military per Ludwig Von Mises; or even don’t a very limited welfare state per F.A. Hayek or the Chicago School of Economics. This forum is to sort out how limited govt should be according to what libertarians and anarchists think.

    Jump to Discussion Post 47 replies