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Monthly Newsletter - June 2016

Seven Ways School Has Imprisoned Your MindbyIsaacMorehouse

YoungAmericaissufferingaquarterlifecrisis.Thejobmarketisinthedumpsandhasbeenforaslongas millennials can remember. Twenty-somethingsareanxiousabout thedirectionof thecountry.Themore politically aware among their generation areonpinsandneedlesabouttheloomingpresidentialelection.

Ifyouareinthatframeofmind,weadviseembracing“theserenitytoacceptthethingsIcannotchange,”as an old prayer puts it. The fact of thematter isthat there is littleyoucando to sway thepoliticalcourse of an entire nation. Neither your vote noryour advocacy will determine who will win thepresidency.

Butthatdoesn’tmeanyouarepowerless.Youcan’thope to liberateawholecountry,butyoucandoagreatdealtoliberateyourself.Doingsorequirestheother part of the Serenity Prayer: the “courage tochangethethingsIcan.”

Thefirststep towardself-emancipation iscertainlynotsupportingoropposingapresidentialcandidate.Neither need it be civil disobedience, evasionof government directives, or resistance to theauthorities.Thereismuchlowerhangingfruittobehadthanthat.

Theimpedimentstoourfreedomarenotlimitedtothe guns, handcuffs, and prison cells that threatenuswithviolence ifwedisobey thepowers thatbe.We are also burdenedwith spiritual chains.Thesebondsaretheself-limitinghabitsofmindandfalse

presumptions that weigh us down throughout life.Theywerefastenedonourmindsthroughcompulsoryschooling: by the state monopolizing most of ourwakinghoursthroughoutourmostformativeyears.The mindset installed by schooling makes thingsmucheasierforthegovernment,whichcanrelyonustolargelypoliceourselves.Wehavevirtuallybeendeputizedasourownspiritualprisonwardens.

So the first step to self-emancipation is what ZakSlayback, author of The End of School, calls“deschooling.”Butthisinvolvesnotjustunlearningdisinformation,butunlearningattitudes.Evenifyouhavealreadyshakenofftheindoctrination,youmaystill be burdened with the conditioning you weresubjectedtoatschool.Andthatmaybeholdingyoubackinyourcareerandyourlifeingeneral.

Thegoodnewsisthatthesementalshacklescanbeunlocked, once you are aware of them.And doingsorequiresnopoliticalcampaigningorconfrontationwiththeauthorities.Thisliberationisyoursforthetaking.

Herearesevenhorizon-limitingmindsetsthatalmosteverybody has picked up from their schooling tosomeextent.

1. The Conveyor Belt Mindset

“The conveyor belt does all the work. You justhave to sit still and getmoved to the next station.Everyone moves in the same direction. Everyonemakesprogressatthesamepace,basedonexternalfactorslikeage.”

Thissupplicantmindsetispoison.

In school you don’t have to domuch of anythingtogo fromgrade tograde. It takesagreateractofwill tonotmove to thenextstage.Thismindset is

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BankNotes -NelsonNash’sMonthlyNewsletter-June2016

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killingyou. Itplaces the locusofcontroloutsideofyourself. It luresyou intoassuming,so longasyouobey the rules, you’ll get handed the next piece ofpaper,promotion,orqualityoflifeenhancement.

Get off the conveyor belt. It’s leading you to soul-deadmediocrity and perpetual frustration and envywhenyouseebelt-jumpersexcelfastandfree.Don’tgetmad.Jointhem.

2. The Permission Mindset

“Raiseyourhandandwaittobecalledupon.Getinsingle file lines. Even your basic biological needscannotbemetwithoutpermission.Yougetahallpasstogotothebathroom.Youeatonlywhenscheduled.”

This is what James Altucher might call the “Pickme!”mindset.It’sthebeliefthatyourowndesiresandactions-yourveryfreedom-issomethingconferredupon you by authority. It’s waiting to get the call,hopingtogetchosenforthejob,anxiouslyawaitingtheresultsanddecisionsofprocessesandactorsoverwhichyouhavenocontrol.“IfonlyIaskintherightway,they’llsayyes!”

Thissupplicantmindsetispoison.It’swhatopensthewayfordespotsinsocietyatlargeanddesperationinyourpersonallife.It’stimetochooseyourself.Don’twaitforpermission.Justdoit.

3. The Student Mindset

“You are a student.Your task is tomemorizewhatteachers tellyou.Thisphase in life is forabsorbinginformation through books and lectures.You study.You cannot try things in the real world until youtheorizeaboutthemforafewdecades.”

“Thestudent isnotapractitioner.Thestudentcan’tputideasintomotionuntilpassingatest.Everythingispass/fail,notopenexplorationandexperimentation.Everything has a grade. Students don’t play. Theydon’twork.Theystudy.”

Nonsense.Freedomcomesfromthecomplexcreativeinterplayofdoingandthinkingintandem.Play,work,andlearningarenotseparatephasesoractivities.

Youarenotastudent.You’realifelonglearner.

4. The Teacher Mindset

“You’vegraduatedfromstudenthood.Yourjobistohavetheanswersandprovidethestructure.Youmustknoweverythingandbe theexpert.Everyone’s fateisinyourhands.Youmusttrainthemtodowhattheycouldn’t if left alone. You must grade them. Theyeitherpassorfail.”

There’snothing inherentlyvaluable indullness,andnothinginherentlydullinvalue-creation.

Real learning and living doesn’t look anything likethe teacher-student structure in schools. No oneknows theanswers.Peoplehavevaryingdegreesofknowledge,ability,andskill,butlearningisdynamicand respectmustbe earnedbyaction,notgivenbytitle.

The sooner you can drop the teacher mindset thesooner you can collaboratewith others, coordinate,persuade and influence. You aren’t there to makepeople into the “right” shaped widget. You’re onenodeinanetworkthathasnostandardizedmeasuresofsuccess.

5. The Worker Mindset

“Workisforsurvival.Itsucks.Youmustbecoaxedintodoingit.Youstudiedtobeabletoworkandnowyouworktobeabletolive.Youdoexactlywhatthebosswantsyoutodoandnomore.Yougetaspecificjobwithaspecifictitleandthatdefinesnotonlyyouractivitiesbutyourpersonality.”

Thisapproachtoworkisblindtoreality.Workisnotpainordullnessbydefinition.Thebestthingsinliferequire work. They’re hard, but they’re fun.Workisn’tjustameanstoadanglingcarrot,it’saprocessof discovery and fulfillment itself. But only whenintrinsically motivated. You’ve got to choose yourwork.

Value creation iswhatmatters, not a job.Youmayearnmoneyanynumberofwaysfromanynumberofpeople,butthedefiningcharacteristicofthekindofworkthatearnsmoneyisthatwhichcreatesvalueforothers.There’snothinginherentlyvaluableindullness,andnothinginherentlydullinvalue-creation.


BankNotes -NelsonNash’sMonthlyNewsletter-June20166. The Recess Mindset

“Playisanescape.It’sirresponsibleinexcess.Itmustbe limited. Ifyoustudyandworkhardenoughyoucanearnsometinyshredofplay.”

“Recess is vacation, summers off, weekends,retirement.It’sthebeliefthatthemajorityofyourlifeisdrudgeryenduredforbriefglimpsesoffreedomandindulgence.”

Thismindsetnotonlyprevents learningorworkingfrom being joyful, it ruins leisure. The desperateweek-longescapebecomesabender.Amerenumbingof the senses to the reality of an unfree life, not adeeplyfulfillingexperience.

Seth Godin put it well when he said, “Instead ofwonderingwhen your next vacation is, maybe youshouldsetupalifeyoudon’tneedtoescapefrom.”

7. The Major Mindset

“Whatdoyouwanttobe?”“What’syourmajor?”

“Your interests must be career-ified and tracked.Everything must be given a title and every actionmustbeastep inaclearpath to thatone thing thatwilldefineyou.”

Inrealityyourmajordoesn’tmatter.Whatyouwanttobemightnotexistbythetimeyou“growup”.Whatmakesyoucomealiveprobablyhasn’tbeeninventedyet.

Shedthepressuretofindyourcallingandimmediatelyplot a perfect path toward it. Instead, just don’t dostuffyouhate.Everythingelseisfairgame.Aslongasyou’renotdoingstuffthatmakesyoudeadinside,you’removingclosertocreatingalifeyoulove.

OneImprovedUnit

Maybenoneofthisappliestoyou.Perhapsyouwereunschooledoryouwerewillfulenoughtopassthroughanentirechildhoodofschoolingspirituallyunscathed.Otherwise,personalfreedomrequiresfirstfacinguptothefactthatyouhavebeeninstitutionalized,andthengettingtoworkde-institutionalizing,ordeschooling,yourself.

Onlyapeoplewhofirstfreethemselvesspirituallyand

individually can hope to free themselves physicallyandas a society. It is impossible to liberatepeople,asVoltairesaid,“fromthechains theyrevere.”Andthefirstorderofbusinessinimprovingsocietyis,asAlbert JayNock said, “to present societywith oneimprovedunit.”

IsaacMorehouse is thefounderandCEOofPraxis.HeisamemberoftheFEEFacultyNetwork.

question on bankingWalterE.BlockFrom:ASent:WednesdayTo:[email protected]:banknotes

Iagreewithyourfollow-uptoResponse#7.(https://www.lewrockwell.com/2016/02/walter-e-block/qa-walter-block/) Onemust factor the intent of thebank when determining fraud. Given the potentialdire consequences ofFRB, a bankought towarn adepositorofthoseconsequences(losingeverythinginone’saccount)everytimeheopensanaccount.Andthewarningoughttobeinbold,largetypewitheverystatement.

Some years ago, I asked 10 people this question:“Whoownsthehundreddollarsapersondepositsinabank?”Twoofthetenhadworkedinbank.OnewasaC.A.Severalwereengineers.Onewasalawyer.Allbutthelawyergottheanswer‘wrong’.Theythoughtthedepositorwastheowner.

If I were an absolute ruler, and powerless to yieldmy power in favor of libertarianism (I would beexecuted immediately by my Prætorian Guard), IwouldoutlawFRBandrequirethatbankslendonlythe money of their shareholders. Depositors wouldbechargedamarketfeeforkeepingtheirmoneysafe& secure. [JimGrant points out that prior to 1935,ifabanklookedshaky,theauthoritieswouldtaptheshareholdersdirectlyforadditionalcapital.]

Itseemsludicroustomethatthegeneralpopulationiseffectivelyforcedintothelendingbusiness,aboutwhichmostpeopleknownothing.Inthedaysoflarge



Keynes Must DiebyLlewellynH.Rockwell,Jr.

In2012,BarackObamawarnedthattheUnitedStateswouldfallintoadepressionifRonPaul’splantocut$1trillionfromthefederalbudgetwereenacted.

Wait,Ibegyourpardon.Itwasn’tObamawhowarnedthatbudgetcutswouldleadtoadepression.

ItwasMittRomney.

Romneywentontobecomethenomineeoftheself-describedfree-marketparty.

An ideological rout is completewhenboth sidesofrespectable opinion take its basic ideas for granted.That’showcompletetheKeynesianvictoryhasbeen.

Infact,KeynesianismhadswepttheboardsadecadebeforeRomneywasevenborn.

The General Theory of Employment, Interest and Money,theseminaltreatisebyJohnMaynardKeynes,appearedduring theGreatDepression, a timewhena great many people were beginning to doubt themeritsandresilienceofcapitalism.Itwasaworkofeconomictheory,butitsboostersinsistedthatitalsooffered practical answers to urgent, contemporaryquestionslike:howhadtheDepressionoccurred,andwhywasitlastingsolong?

priceinflation,nooneinhisrightmind(exceptperhapsthecriminalelement)wouldkeeplargesumsinasafedepositbox.Nowadays,withsuperlowinterestrates,I’m surprisedmore people aren’twithdrawing theirmoney.IexpectthatTPTBareanticipatingamassivewithdrawal,whichiswhytheywanttooutlawcash.Verydiscouraging.

Regards,ADearA:

Thanksforyoursupport.WhoDOESownthatmoney?Thebank,unfortunately.WhoSHOULDownit?Thedepositor,ofcourse.Bestregards,Walter[Block]

Theanswertobothquestions,accordingtoKeynesandhisfollowers,wasthesame:notenoughgovernmentintervention.

NowasMurrayN.Rothbardshowedinhis1963bookAmerica’s Great Depression,andasLionelRobbinsandothershadwrittenatthetime,theDepressionhadcertainly not been caused by too little governmentintervention.Itwascausedbytheworld’sgovernment-privileged central banks, and it was prolonged bythe various quack remedies that governments kepttrottingout.

But thatwasn’t a thesisgovernmentswere eager tohear.Governmentofficialswererathermoreattractedto themessageKeyneswas sending them: the freemarket can lead to depressions, and prosperityrequiresmoregovernmentspendingandintervention.

Let’ssayabriefwordabout thebookthat launchedthisideologicalrevolution.IfImayputitkindly,theGeneral Theorywasnot thekindof textonemightexpecttosweeptheboards.

PaulSamuelson,whowentontobecomeoneofthemostnotableAmericanpopularizersofKeynesianism,admittedinacandidmomentthatwhenhefirstreadthebook, he “didnot at all understandwhat itwasabout.”“IthinkIamgivingawaynosecrets,”hewenton,“whenIsolemnlyaver–uponthebasisofvividpersonalrecollection–thatnooneelseinCambridge,Massachusetts,reallyknewwhatitwasallaboutforsometwelvetoeighteenmonthsafterpublication.”

The General Theory,hesaid,

is a badly written book, poorly organized; anylaymanwho, beguiled by the author’s previousreputation bought the book,was cheated of hisfiveshillings.Itisnotwellsuitedforclassroomuse.Itisarrogant,bad-tempered,polemical,andnot overly generous in its acknowledgments. Itabounds in mares’ nests and confusions.… Inshort,itisaworkofgenius.

MurrayN.Rothbard,whoafterthedeathofLudwigvonMiseswas considered thedeanof theAustrianSchoolofeconomics,wroteseveralmajoreconomiccritiques of Keynes, along with a lengthy and


BankNotes -NelsonNash’sMonthlyNewsletter-June2016revealingbiographicalessayabouttheman.ThefirstofthesecritiquescameintheformofanessaywrittenwhenMurray was just 21 years old: “Spotlight onKeynesianEconomics.”Thesecondappeared inhis1962treatiseMan,EconomyandState,andthethirdasachapterinhisbookFor a New Liberty.

Murraymincednowords,referringtoKeynesianismas “themost successful and pernicious hoax in thehistoryofeconomicthought.”“AlloftheKeynesianthinking,” he added, “is a tissue of distortions,fallacies,anddrasticallyunrealisticassumptions.”

Beyond the problems with the Keynesian systemweretheunfortunatetraitsofKeyneshimself.IwillletMurraydescribethemtoyou:

The first was his overweening egotism, whichassuredhimthathecouldhandleall intellectualproblemsquicklyandaccuratelyandledhimtoscornanygeneralprinciples thatmightcurbhisunbridledego.Thesecondwashisstrongsensethathewasborninto,anddestinedtobealeaderof,GreatBritain’srulingelite….

Thethirdelementwashisdeephatredandcontemptforthevaluesandvirtuesofthebourgeoisie,forconventionalmorality,forsavingsandthrift,andforthebasicinstitutionsoffamilylife.

While a student at Cambridge University, Keynesbelonged toanexclusiveandsecretivegroupcalledtheApostles.Thismembership fed his egotism andhiscontemptforothers.Hewroteinaprivateletter,“Is it monomania – this colossal moral superioritythatwefeel?Igetthefeelingthatmostoftherest[oftheworldoutsidetheApostles]neverseeanythingatall–toostupidortoowicked.”

Asayoungman,Keynesandhisfriendsbecamewhathe himself described as “immoralists.” In a 1938papercalled“MyEarlyBeliefs,”hewrote:

Weentirelyrepudiatedapersonalliabilityonustoobeygeneralrules.Weclaimedtherighttojudgeeveryindividualcaseonitsmerits,andthewisdomtodososuccessfully.Thiswasaveryimportantpartofourfaith,violentlyandaggressivelyheld,andfortheouterworlditwasourmostobvious

and dangerous characteristic. We repudiatedentirely customary morals, conventions andtraditionalwisdom.Wewere,thatistosay,inthestrictsenseoftheterm,immoralists.

Keynes was 55 years old when he delivered thatpaper.Andevenatthatadvancedstageofhislifehecould affirm that immoralism is “still my religionunderthesurface.…Iremainandalwayswillremainanimmoralist.”

In economics, Keynes exhibited the same kind ofapproach he had taken toward philosophy and lifein general. “I am afraid of ‘principle,’” he told aparliamentarycommitteein1930.That,ofcourse,istheattitudeofanyonewhocraves influenceand theexercise of power; principle would only get in thewayofthesethings.

Thus,Keynessupportedfreetrade,thenturnedonadimein1931andbecameaprotectionist,thenduringWorldWarIIfavoredfreetradeagain.AsMurrayputsit,“Neverdidanysoul-searchingorevenhesitationhobblehislightning-fastchanges.”

The General Theory broke down the world’spopulation into several groups, each with its owncharacteristics. Here Keynes was able to vent hislifelonghatreds.

First, therewas thegreatmassofconsumers,dumbandrobotic,whoseconsumptiondecisionswerefixedanddeterminedbyoutside forces, such thatKeynescouldreducethemtoa“consumptionfunction.”

Thentherewasasubsetofconsumers,thebourgeoissavers, whom Keynes especially despised. In thepast, such people had been praised for their thrift,whichmadepossibletheinvestmentthatraisedlivingstandards.ButtheKeynesiansystemseveredthelinkbetween savings and investment, claiming that thetwohadnothingtodowitheachother.Savingswere,infact,adragonthesystem,Keynessaid,andcouldgeneraterecessionsanddepressions.

Thus,didKeynesdethronethebourgeoisieandtheirtraditional claim tomoral respectability. Thrift wasfoolishness,notwisdom.

The third group was the investors. Here Keynes



was somewhat more favorable. The activities ofthesepeoplecouldnotbereducedtoamathematicalfunction.Theyweredynamicandfree.Unfortunately,they were also given to wild, irrational swings inbehaviorandoutlook.Theseirrationalswingssettheeconomyonarollercoaster.

And now we arrive at a fourth and final group.This group is supremely rational, economicallyknowledgeable, and indispensable to economicstability.Thisgroupcanoverridethefoolishdecisionsoftheothersandkeeptheeconomyfromfallingintodepressionsorinflationaryexcess.

Youprobablywon’tbeshockedtolearnthatthefar-seeingwizardswhocompriseKeynes’sfourthgrouparegovernmentofficials.

To understand exactly what Keynes expectedgovernmentofficialstodo,let’ssayabriefwordabouttheeconomicsystemKeynesdevelopedintheGeneral Theory.Hisprimaryclaimisthatthemarketeconomyis given to a chronic state of underemployment ofresources.Ifitisnottodescendintoandremainmiredin depression, it requires the wise supervision andinterventionsofthepoliticalclass.

Again,wemay safely reject the possibility that thepolitical classes of the Western world embracedKeynesianism because politicians had made aprofound study of the works of Keynes. To thecontrary, Keynesianism appealed to two overridingmotivations of government officials: their need toappearindispensable,andtheirurgetowieldpower.Keynesianismdangledtheseideasbeforethepoliticalclass, who in turn responded like salivating dogs.Therewasn’tanythingmoreromanticordignifiedtoitthanthat,Iamsorrytoreport.

By theearly1970s,however,Keynesianeconomicshadsufferedadevastatingblow.Or,toadoptMurray’smorecolorfulphrase,ithadbecome“deadfromtheneckup.”

Keynesianismcouldnot account for the stagflation,orinflationaryrecession,thattheU.S.experiencedinthe’70s.

It was supposed to be the role of the Keynesian

planners to steer the economy in such away as toavoidthetwinthreatsofanoverheating,inflationaryeconomy and an underperforming, depressedeconomy.Duringaboom,Keynesianplannerswereto“sopupexcesspurchasingpower”byraisingtaxesand taking spending out of the economy. Duringa depression, Keynesians were to lower taxes andincrease government spending in order to injectspendingintotheeconomy.

Butinaninflationaryrecession,thisentireapproachhad to be thrown out. The inflationary part meantspending had to be reduced, but the recession partmeant spending had to be increased. How,Murrayasked,couldtheKeynesianplannersdobothatonce?

Theycouldn’t,ofcourse,whichiswhyKeynesianismbegan towane in the1970s, though ithasmadeanunwelcomecomebacksincethe2008financialcrisis.

Murray had dismantled the Keynesian system ona more fundamental level in Man, Economy, and State.Heshowedthattherelationshipsbetweenlargeeconomic aggregates that Keynesians posited, andwhichwereessentialtotheirsystem,didnotholdafterall.Andheexplodedthemajorconceptsemployedinthe Keynesian analysis: the consumption function,themultiplier,andtheaccelerator,forstarters.

Now,whydoesanyofthismattertoday?

The errors of Keynes have empowered sociopathicpoliticalclassesallover theworldanddeprived theworldoftheeconomicprogresswewouldotherwisehaveenjoyed.

Japan is a great example ofKeynesian devastation:theNikkei225,whichhit38,500in1990,hasnevermanagedtoreachevenhalfthatlevelsince.AquartercenturyagotheindexofindustrialproductioninJapanwasat96.8;after25yearsofaggressiveKeynesianpolicythatgaveJapanthehighestdebt-to-GDPratiointheworld, theindexofindustrialproductionis…still96.8.

TheUnitedStates,meanwhile,hashadsixteenyearsoffiscalstimulusorpreposterouslylow-interestrates,all of which Keynesians have cheered. The result?TwomillionfewerbreadwinnerjobsthanwhenBill


BankNotes -NelsonNash’sMonthlyNewsletter-June2016Clintonleftoffice.

Noamountofstimuluseverseemstobequiteenough.Andwhenthestimulusfails,theblinkeredKeynesianestablishmentcanonlythinktodoubledown,nevertoquestionthepolicyitself.

But there is an alternative, and it’s the oneMurrayN.RothbardandLudwigvonMiseschampioned:theAustrianSchoolofeconomicsanditsanalysisofthepuremarketeconomy.

Againsttheentireedificeofestablishmentopinion,theMisesInstitutestandsasarebuke.Tothedissidents,to the intellectually curious, to those inclined to beskeptical of so-called experts who have brought usnothingbutruin,theMisesInstitutehasbeenabeacon.

We have trained an entire generation of Austrianscholars, journalists,andfinancialprofessionals.Weputinthehardworksothatwhenacatastrophelikethe 2008 crisis occurred, anAustrian responsewasready.

Butwith your help,we can do somuchmore.TheKeynesiansarepretendingtheyhaveeverythingundercontrol,butweknowthat’safantasy.Anevengreateropportunitythan2008awaitsus,andwewanttohelpguidepublicopinionandtrainacadreofbrightyoungscholarsforthatday.Withyourhelp,wecan,atlast,awakenfromtheKeynesiannightmare.

As theKorean translator of anAustrian text put it,“Keynesmust die so the economymay live.”Withyourhelp,wecanhastenthatgloriousday.

The Benefits of Global WarmingbyButlerShaffer

No one ever heard of the truth being enforced by law.Whenever the secular arm is called in to sustain an idea, whether new or old, it is always a bad idea, and not infrequently it is downright idiotic. –H.L.Mencken

Those with ambitions for power over their fellowhumanscontinue tospeakof the threatsof“climatechange”and“globalwarming”as thoughtheywereexpressing revealed truths. Religious dogmas can

find their roots in scientific as well as theological thinking.Questioningeither the“intelligentdesign”or “big bang” explanations for the origins of theuniverse can evoke angry responses from true-believers on either side of the issue. In the case oftheHigh-ChurchWarmingists,averifiablefact(i.e.,increasedtemperature)ismergedwithanempiricallyunfoundedassertion(i.e.,humanactivityisthecausalexplanation)toprovidetruebelieverstherationalefortheirruleovermankind.Thosewhodenythisarticleof faith are targeted for dismissal in academia andeventelevisedweathershows.

I grew up in a Midwestern city that had been thesouthernmost reach of the glacier that once spreadacrossmostofNorthAmerica.Inmyundergraduateyears,thecoursesofstudyfromwhichIlearnedthemostwereingeology.Amongthemanyinsightsthatcontributedtomyunderstandingwastheknowledgethat theEarthhadundergonemanyfluctuationsandvariations in temperatures,plate tectonics,magneticshifts, and numerous climate changes. It is difficultforintelligentmindstotakeseriouslytheideathattheextinctionofdinosaursinAntarcticawasoccasionedbypre-humanbeingsdrivingSUVsorusingaerosolsprays!

Amuchmorepersonalawarenessofmyconnectionto mankind’s history on this planet began when Icontemplatedhowmanydirectancestors(i.e.,parents,grandparents, great-grandparents, etc.) I had in thepast two-thousand years. My calculation excludedsiblings, cousins, aunts and uncles, nephews andnieces,andother relativeswhowerenotpartof the“butfor”explanationformyexistence.Two-thousandyearsisbutatinyfractionofthehundredsofthousands(ormore)ofyearsduringwhichhumanshaveexisted.Using roughly thirty years per generation, I playedoutthemathematicsofmygenealogy(i.e.,twotothesixty-seventhpower)andcameupwiththisnumberofdirectancestorsIhadinsoshortaperiodoftime:147,573,952,589,676,412,928individuals–thesamenumberyouhadduringthisperiod.

This number represents some ten to twelve billiontimestheestimatednumberofhumansever tohavelivedonthisplanet.Math,alone,confirmswhatbeing



membersofthesamespeciesalreadytellsus:weareallrelatedtooneanother.

Irecentlyhadanevenmorepowerfulexperiencethatconfirms my ancestral connectedness to humanity.OneofmydaughtersgavemeaChristmasgift thatallowedmetoparticipateinaprojectthattracedmydistantancestrythroughmyDNA.Anumberofweeksafter submitting a sample through which my DNAcouldbeidentified,Iwasinformedoftheroutestakenbymy ancient ancestors beginning some 50,000 to60,000yearsago.FromAfricatoAsia,totheBalkansandCentral Europe, and then, during theGreat IceAge,totheIberianpeninsula.

Becauseofthegreatsheetoficethatcoveredsomuchoftheplanet–andEuropeinparticular–thisbranchofmyancestrywasconfined,forthousandsofyears,toterritorythatwenowcallSpain.Uponlearningofthis,IwasremindedoftheancientCaveofAltamaria,innorthernSpain,uponwhosewallscanbefoundavariety of paintings of animals and humans. Thesewallsalsocontainhand-printsplacedtherebysomeoftheearliestofhumans.

These handprints have long held a fascination forme.Theyhavesuggestedakindofspirituality–thekind thatgoesbeyond religiousdoctrines– thatwestrugglesohardtoexpress:aneedfor transcending our individual experiences, and to connect up withothers and the rest of the universe. Religions; thesciences;poetry;ourmotivations for fame, success,evenpower;creativity;andsomanyother formsofhumanmotivation,areunderlainbythisneed.

Thehand-printsthatreachoutinthiscavefrom15,000to 20,000 years ago containwhatmay be themostpowerful spiritual expression of our individuality:“I was here!” Were these people being driven bythesameinnerlife-forcesthatcausepeopletomakegreat discoveries, to invent, to compose music, tocreate and operate businesses, to design beautifulbuildings,toproducestatuaryandpaintings,towritenovelsthathelpusfindmeaningandmotivationsintheconditionsofhumanexistence?WhenIwritemybooksandarticles–forwhichGutenberg’sinventionprovidedme a far-reachingmedium – am I saying

anythingmorethanwhatmyAltamiraancestorsweresayingwiththeirhand-prints:“Iwashere”?

Suchthoughtshavemeantmoretomyinnersenseofbeing thandoes themathematics that quantifiesmyrelationships with these great-great-great-great-to-the-nth-power-grandparents. The names and facesofthesepeopleareunknowntome;onlytheirhand-printsprovidevisualevidenceoftheirexistence.Buttheydidprovidemewiththeirconnectiontomylife:asharedDNAremindsmethat,butforthem,Iwouldlikelyhavehadnolife.

My understanding of the geologic history of ourshared planet informs me that “global warming”– causing the retreat of the great sheet of ice thatengulfed somuch land–allowed for theexpansionofterritoryandopportunitiesforthewell-beingofmyancestors. I doubt that there were any well-heeled,power-hungryAlGoresoftheirtimewarningthemofthedangersinherentinthecarbonfootprintsoftheirneighborswhosoughtabroaderexpressionoflivingashumanbeings.

Ialsodoubtthatmyancestorsregardedthewarmingof theplanet as a threat. If theyhad thebenefitsofan understanding of the Earth’s inconstancy andvariability,theymaylikelyhaveregardedtheensuingwarming of the planet as just another period ofchangethatmightprovelife-enhancing.Isuspectthattheywouldnot havedefended the restricting ice asa desired status quo condition to be protected fromhumanaction.

Implicit in theWarmingist theology is the arrogantassumption that there is some objectively “correct”temperature at which the Earth “should” function.Cansuchapositionbesustainedbyanyevidentiarycriteria,orisitbutanotherinstanceofthearbitrarinessof standards announced by those who insist oncontrollingtheirneighbors?Addressingthequestionfromabiologicalperspective,BrotherMenckenasks:“Who will argue that 98.6 Fahrenheit is the righttemperature forman?As forme, I decline todo it.Itmaybethatweareallactuallyfreezing,hencethepervadingstupidityofmankind.”

Inmyancestral hand-prints andmywritings, Ifind


BankNotes -NelsonNash’sMonthlyNewsletter-June2016a shared “I was here” message that celebrates –ratherthancondemns–whatitmeanstobehuman.Tosimplisticmindschallengedbytheuncertainties,complexities,andinconstanciesoflife,theenjoymentofpoweroverotherswillberegardedasnecessaryforstabilizingtheirworld.

Toreinforcethelistingofthecardinalsinstheywishtocontrolorpunish,theWarmingistsremindusthatouractionshaveconsequences.Asageneralproposition,theyarecorrect.Helping studentsbecomeawareofthis truth was a core principle of what used to becelebratedasa“liberalarts”education.Butinanageinwhichpoliticallycorrectideologieshavesoinfectedacademiclife, thetoolswithwhichtheWarmingistsoperatetendtobequitesuperficial.

Richard Weaver’s classic work, Ideas Have Consequences,extendedtheprincipleintotherealmsofphilosophyandideology.Atatimewhensocialistsand other central planners ask us to substitute theirillusionsfortheinformalandspontaneousordersthatsustainus, it is timelytorecall theconsequencesofpolitical systems andprograms that did somuch todestroythelivesofsomany.TheSovietUnion,MaoistChina, Nazi Germany, and the present difficultiesnow being experienced by people in Venezuela,provide some of themost familiar examples of theconsequencesofempoweringafewtodominateandrulethemanybyforce.

The globalwarming thatmelted the great ice sheetthatconfinedmyIberianancestors,allowedthemtomove into other regions in Europe, thus enhancingtheir opportunities for living well. Perhaps thereis a lesson for us all in this example.Will “globalwarming”haveconsequences?Ofcourse,itwill,justasdidearlierperiodsof“globalcooling.”Iftheplanetis a living system– as I believe it to be – thenweshouldacceptfluctuationandvariationasexpressionsofwhatitmeanstobealive.

Aswithmyancientancestors,ourmutualdescendantsmay benefit from global warming. Just as centralEuropeandScandinaviabecameavailableforearlierexpansionsoflife,ourposteritymayfindheretoforefrozenterritoriesbecomingavailabletothem.Perhaps

such places as Greenland, Siberia, and Antarcticamight become sites for human beings to live well.Whocaneffectivelyarguewithsuchapossibility?

VISIONByLeonardE.Read

Note - Frequent readers of BANKNOTES are aware of my relationship with Leonard E. Read and my admiration for his works during his lifetime. In the following issues I will be sharing his book, VISION, one chapter per month. It was written in 1978. What a privilege it was for me to know this great man! –R.NelsonNash

Chapter12

ASLEEPATTHESWITCH

Whentheyareasleepyoucannottellagoodmanfromabadone.

-ARISTOTLE

Themetaphor,"asleepattheswitch,"means"notalerttoadutyoropportunity,"thesenseinwhichitishereused.

No one remembers falling asleep! The moment ofdroppingoffislosttous;weonlyremembercomingawake-ifindeedweeverdoawake!Astodutiesandopportunities unlimited-no person has awakened tomorethananinfinitesimalfewofthem.Thoseofusnowasleepattheswitcheitherhaveneverawakenedor,iftemporarilyarousedbythisorthat,havesincelost interestand fallenback intoa lifelongslumber.Thisappearstoexplainwhysomanyofusaredeadto theworld ofwonders, to the exciting duties andopportunitiesofourearthlyexistence.

Whenitcomestoliberty,allbutafewareasleepattheswitch,deadtothisremarkablewonderthatopensthedoortoopportunitiesunlimited.Whythisplight?What shouldwe do about it?These questions needseriousexamination.

JohnW.Burgessmaintainedthatmankinddidnotbeginwithlibertybut,rather,thatmankindacquireslibertythrough civilization. Liberty is but the flowering ofhumanascendancyinvirturesandprinciples.Thefirst



how to overcome their poverty? By teaching themhowtosaveandaccumulatecapitalandtofreelytradeand compete? No, for these dictocrats haven't theslightestideathemselvesastothis,theonlyremedy.Theyareunawareofthedifferencesbetweenlibertyandslavery.So,whatistheirsolution?Confiscation!They coercively acquire dollars by the hundreds ofbillions, every dollar taken from the fruits of ourlabors and gratuitously passed on to these victimsofunderdevelopment.Byany reasonabledefinition,suchactionisuncivilized.Merelybear inmindthatmankind acquires liberty through civilized actions,and it is obvious that such give-away programsdestroytheveryfoundationsofliberty.

Examples abound of smaller but comparable"programs" emanating from federal, state and localgovernments.Observethissequence:

1. Governments,havingnomoneyoftheirown,mustfirstcoercivelytakeawayinordergratuitouslytogiveaway.

2. Thatwhichiscoercivelytakenawayisthesourceofourlivelihood.

3. Therecannotbelifewithoutlivelihood.4. Totheextentthatlivelihoodistaken,tothat

extentarecitizensdeprivedoflife.5. Thesedeprivationsdiminishindividual

liberty-libertybeingthefloweringofcivilizedindividuals.

6. Give-away""programs"quiteobviouslyputthecartbeforethehorse-causeandeffectinreverse.

7. Thosethusengagedarenotawaketothedutiesandopportunitieslibertyopenstohumanbeings.Theyare,indeed,asleepattheswitch!

Of the two questions to be answered the first is,whythisdevastatingplight?Whyaresomanydeadto the wonders of liberty? These persons cannotremember falling asleep. Perhaps they never wereawake and, thus, are sound asleep to mankind'shighpurpose-individualevolutionand the liberty toact creatively as one pleases.They are in the sameplight aswere the ancients prior toSumer, thefirstknowncivilization.Norshouldwebesurprisedatthisseemingdelinquency,andforatleasttworeasons:

known civilization emerged in Sumer about 5,000yearsago.Liberty,aswethinkofit,wasnomoreinthe minds of earlier mankind than the free marketor private property or limited government or airconditioningorharnessedelectricenergyormillionsof recent phenomena.Prior toSumer,mankindhadnotbecomecivilizedenoughtoacquireliberty.

A civilized person, according to my ideal, mustrecognize that man is at once a social and anindividualisticbeing.Thus,hemustnotonlybeself-responsiblebut,atthesametime,understandthatheowestoothersnoinfringementsontheirrights.

Inaword, the trulycivilizedperson isadevoteeoffreedom; he opposes all man-concocted restraintsagainstthereleaseofcreativehumanenergy.

The civilized person realizes how incorrect it is tothink of freedom as synonymous with unrestrainedaction. Freedom does not and cannot include anyaction, regardlessof sponsorship,which lessens thefreedomofasinglehumanbeing.Toarguecontrarilyistoclaimthatfreedomcanbecomposedoffreedomnegations,patentlyabsurd.Unrestraintcarriedtothepointofimpairingthefreedomofothersistheexerciseof licensenotfreedom.Tominimizetheexerciseoflicenseistomaximizetheareaoffreedom.

Ideally,thatis,inacivilizedsociety,governmentwouldrestrain license, not indulge in it; make it difficult,noteasy;disgraceful,notpopular.Agovernmentthatdoesotherwiseislicentious,notliberal-andapeoplewhopermitthisarenotquitecivilized.

Toillustrateuncivilizedactions:Thosein"theThirdWorld," that is, the people in the impoverishedor underdeveloped countries, with a few notableexceptions,areasleepattheswitch.Asaconsequencethey starve by the millions. Asleep to what? Notonly to how the free and unfettered market worksitswondersbutalsotothereasonswhygovernmentshouldbelimited.Theyaremiserable.That'sonesideoftheuncivilizedcoin.

The other side is just as uncivilized. Americanpoliticiansobserve theplightof thesepeople.Theirconclusion:"Wemustsavethem!"Bydemonstrating


BankNotes -NelsonNash’sMonthlyNewsletter-June20161. Evolutionisaveryslowprocess,gracingonly

arelativefewsinceCro-Magnonmanofsome35,000yearsago.

2. Werewetocollapsetheeonsoftimesincelifefirstappearedintoasingleyear-acomprehensiblespanoftime-humanlibertyhaditsinceptiononly3Y2secondsago.Itisthenewestofallpolitico-economicconcepts,openingthewaytodutiesandopportunities:creationatthehumanlevel.Littlewonderthatonlyafewhavetheslightestideaastowhatlibertyisallabout.Themillions-andunderstandably-asleepattheswitch!

There are, of course, numerous levels or depthsof sleepiness. They range from sound asleep todrowsiness to catnaps to half awake. By the sametoken,awarenessoflibertyrangesfromzerotobriefglimmerstoratherprofoundunderstanding.

What do people do when asleep? A few aresleepwalkersbut,mostly,theydonomorethandream.Andadream,asrelatedtothisthesis,isapipedream:"afantasticidea,vainhope,orimpossibleplan...."Imustconclude, therefore, thatall the"plans"oranyfractionthereofwhichareinconsistentwithcivilizedactions-the fountain of liberty-are no more thanthrusts from primitive antiquity.They are imagined utopiasorparadises-variousformsofShangri-La!

WroteGoethe:"Nonearemorehopelesslyenslavedthan those who falsely believe they are free." Themillions who are asleep at the switch and whodreamandunknowinglypave the road to theirownslaveryactuallythinktheyareasfreeasthefewwhoare partially awake and have some understandingof liberty. The millions who falsely believe theyare free are enslaved by a dreadful ignorance: not knowing their plight but not knowing that they know not! Attempts tosell liberty to thesemillionsareasfruitlessastryingtosellacourseinphysicalfitnesstoacorpse.

Thesecondquestionwouldseemtobe,whatarewe todoaboutthisplight?However,thisisneitherawenoraweeproblem.Instead,itisanIandanInfiniteproblem.

What, then,amI todo?Spendmytimeandenergytryingtoawakenthosewhoareasleepattheswitchasmostfreedomdevoteesaredoing?Or,shallItakethatseldomtraveleduphillroadthatleadstomyownawakening? These are my choices; it's one or theother!Mydecisiontotakethelattercourseisfoundedonseveralobservations.

1. WhoamongallthepeopleinhabitingthisearthhaveIbeencommissionedtosave?Onlyyourstruly,ananswerwithwhichnoonewilldisagree.Trytofindanindividualinthisoranyothercountrywhobelievesmyroleisthatofhissavior.Notone,andthat'sthewayitshouldbe!

2. WhatifIweretotaketheothercourse-awakenapersonasleepattheswitch?Whatishisreactiontobeingyelledat,tosettinghimstraight?

3. Getoffmyback!"UShutup!"“Leavemealone!"“Mindyourownbusiness!"“Whodoyouthinkyouare?"'Thesereformingtacticsspawnadversariesandantagonists,neverfriendsorseekersofone'slight.Again,thisisthewayitshouldbe.Erroneousmethodsonlymultiplyexistingerrors.

4. Whatistherightmethod?Ratherthanwastingone'senergyvainlytryingtoimproveothers,itisto better one's self!Whyisthisacivilizingprocedurethatspawnsliberty?Becausecomingawaketolibertyisexclusivelyapersonalachievement.Humanbettermentinthisaspectoflifehasasmanypointsoforiginastherearehumanbeings.Icannotoriginateimprovementinyouoryouinme.

5. WroteEdmundBurke:“Exampleistheschoolofmankind;theywilllearnatnoother."ThiswiseobservationappliednolesstoBurkeorSocratesorEmersonthanitrelatestoyouandme.

Merelynotehowmanyofusstillseekthetutorshipoftheseseers,andofnumerousotherindividualswhohavebeenandarewayoutfrontintheirintellectual,



Nelson’s Favorite Quotes

Nelson’s Live Seminars & Eventsfor June & July 2016

http://infinitebanking.org/seminars/

Hillsboro, TX - Nelson Nash Live SeminarJune 11, 2016, ContactCharlieJacksonforadditionalinformation.254-582-3565nancy@bcbstexas.com

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Nelson Nash Live in Kelowna, BC, Canada for an Agent-Only SeminarJuly 14-15, 2016,Pleaseusethislinktoregister:www.mcguirefinancial.ca/agent-training/TheeventisopentolifelicensedAgentsonly.ContactJaysonLoweforadditionalinformation:[email protected]

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“At the beginning of the dynasty, taxation yields alarge revenue from small assessments. At the endofthedynasty,taxationyieldsasmallrevenuefromlargeassessments."–IbnKhaldun

"There is a limit to the taxing power of the statebeyond which increased rates produce decreasedrevenues."–CalvinCoolidge

“Anotherdifferencebetweendeathandtaxesisthatdeathisfrequentlypainless."–Anonymous

moral and spiritual enlightenment.Thosewho seektruthareattractedtoexemplars.Allhistoryatteststothislawofattractionthedrawingpowerofexcellence.TheschoolofmankindtowhichBurkerefersissuesnodegreesandhasnograduates.Itis,instead,perpetualprogression-self-dedicationforlife!

The fewwho really count in advancing civilizationand libertyare thosewhoarealertnotonly to theirdutiesbuttoopportunitiesunlimited.Theyarethoserarepersonsnotasleepattheswitch.Maytheirtribeincrease,foryoursakeandmine!

The World in the Grip of an Idea byDr.Clarence.B.Carson

Thereishardlyapersontobefoundwhowillavowutopianismashisbelief.Incommonusage,autopianisonewhoisimpracticalandunrealistic.Tonametheidea utopianism is to risk trivializing it. If the ideawere named utopianism it would become an ideaamongideas.Itwouldbecomeanideatobeexamined,tobedebated,tobescrutinized,andquitepossiblytoberefuted.

Suchtreatment,theadherentsoftheideaapparentlyresist.Theyresistitbyfocusinguponthemethodforrealizing it rather than theanimating idea.The ideaitselfmustbeanunchallengedgood.Theanimatingideaistherootofasecularreligion,theleadingsecularreligion of our time. It catches up myriad vaguelongingssetloosebythedeclineofreligion,ormoreprecisely it provides a faithwith credible promisesforthosewhonolongerbelievethepromisesoftheirtraditionalreligions.

ThesetwoparagraphsareextractedfromDr.ClarenceB.Carson’sbook,The World in the Grip of an Idea.ThatideaisSocialismoranyofthevariationsofthatideasuchasCommunism,Fascism,etc.Allofthese“isms”arenothingmorethanexamplesofmankind’sattemptto“playgodinthepagansenseoftheword.”IntheBible,thebookofExodustellsusveryplainlythat God is a jealous God. He won’t put up withsuch nonsense— and so, they all fall apart over aperiodoftime.However,historyclearlydemonstratesthat mankind in his hubris just can’t get this factestablishedinhismind. — Nelson



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