Italy’s Mafia Uses the Old Lira as Its Own Parallel Currency

Mostly Economics

As Italy plans fiscal money to subvent ECB and Euro, there is another interesting story from the country.

Italian Mafia still uses Old Lira notes!

Italy’s proposed mini T-Bills may be pie in the sky for now, but it appears the country already has another currency floating around — the old lira.

A senior police officer revealed this week that domestic criminal organizations are still using the pre-euro currency for illicit transactions. It’s not clear how the former notes are ultimately exchanged for euros, if at all, though he said officers are still uncovering them. The lira ceased to be legal tender at the end of February 2002.

“We still discover big amounts of liras,” Giuseppe Arbore, a deputy in the Guardia di Finanza, which investigates financial crimes, said at a parliamentary hearing on Thursday. “Italian liras still constitute parts of illicit transactions.’’

Arbore’s remarks prompted amazement among lawmakers…

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An American Dilemma and Eugenics


Fardels Bear

A woodcarving of Jesus and Satan

The word “eugenic” is an unquestionably negative adjective –tagging something eugenic is to disparage it, except in the rare case of someone who attempts to resuscitate some aspect of the vilified American eugenics movement. However, if asked, it is doubtful that those who employ the term to vilify something they object to can give an accurate definition of the term. Those who turn to the history of science to define the term are likely to be frustrated. The American eugenics movement was in fact so broad and historical scholarship on it has been so profuse that by the end of the twentieth century the word “eugenics” was applied to so many different activities that it was of little use in describing much of anything. And, since every industrialized country in the world had some kind of program under the rubric “eugenics” the problem becomes more acute if we move beyond…

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The Numbers Game: The Paradox of Household Income

Guardian omits ties between pro-Palestinian “charity” and Hamas

A Guardian report on damages awarded to the UK-based pro-Palestinian “charity” Interpal has obfuscated the organisation’s terror ties. 

The June 13th article by Matthew Weaver (“Daily Mail pays damages over hate festival allegations”) reported that the Daily Mail “paid £120,000 in damages plus costs to a UK-based humanitarian charity after the paper falsely accused it of funding a “hate festival” in Palestine which acted out the murder of Jews”.

Though that particular charge appears to have been untrue, the Guardian journalist then goes on to downplay the fact that interpal is widely reported to be affiliated with Hamas.

The second article, which appeared on the Mail Online website, referred to Interpal as a “specially designated global terrorist organisation”. It failed to mention that this referred to a contested designation made by the George Bush administration in 2003, which the charity has always denied and for which the US has…

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Renewables ‘Transition’: UK Solar Industry Doomed as Subsidies Slashed – Panel Sales Plummet by 94%


Wasn’t it only yesterday we were told that wind and solar are so cheap that our RE ‘transition’ was inevitable? Well, that was then, this is now.

Proving the point, we make almost every day – namely that there wouldn’t be wind turbines or solar panels, on any serious scale, anywhere in the world, in the absence of massive and endless subsidies – when the UK cut subsidies to solar panels in April, the solar ‘industry’ literary collapsed, overnight.

The only thing ‘inevitable’ about wind and solar is the inevitable collapse that follows any reduction in the subsidies that sustain them. Even the mere mention of tinkering with the subsidies sends renewable energy rent seekers into apoplexy.

Here’s Jo Nova rubbing a little more salt into the RE zealots’ wounds.

UK withdraws life support for Solar Industry and 94% of orders disappear
Jo Nova Blog
Jo Nova
7 June 2019

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More Libertarians: Murray Rothbard and Competitive Racism

Fardels Bear

[NB: I quote a lot from Professor Peter Klein‘s comment on this thread regarding Murray Rothbard. I want to make quite clear that my comments about Rothbard are about Rothbard and not about Professor Klein. I thank him for raising Rothbard’s name in this context because he spurred me to write up my thoughts about Rothbard and racism. In no way do I want to impute Rothbard’s beliefs to Professor Klein. Just so we are clear on that.]
Murray N. Rothbard (1926-1995), has been called “the most gifted libertarian writer of his generation” (p. 251). Rothbard prided himself as, in Nancy MacLean‘s words, libertarianism’s “most scathing guardian of libertarian orthodoxy” (p. 147). He was an “anarcho-capitalist” who believed that all governmental functions should be privatized, including national defense and police forces. Unlike someone like JamesBuchanan, or indeed, most academics, who often work within institutional structures…

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Voltaire and the one-liner

Voltaire Foundation

To mark the publication at Oxford University Press of his new book ‘Voltaire: A Very Short Introduction’, a contribution to their Very Short Introductions series, Nicholas Cronk has written the following post about the wit and wisdom of Voltaire for the OUP Blog.

Voltaire: A Very Short Introduction by Nicholas Cronk is published by Oxford University Press.

As we mark Voltaire’s 323rd birthday – though the date of 20 February is problematic, – what significance does the great Enlightenment writer have for us now? If I had to be very very short, I’d say that Voltaire lives on as a master of the one-liner. He presents us with a paradox. Voltaire wrote a huge amount – the definitive edition of his Complete works being produced by the Voltaire Foundation in Oxford will soon be finished, in around 200 volumes. And yet he is really famous for his short sentences. He…

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A flat tax? Alas, RNZ burnt up its interview time while grilling Seymour about free speech and the racism bogey

Point of Order

RNZ’s Morning Report yesterday led us to hope we would hear something about the attractions of a flat tax, an idea once promoted by Roger Douglas when he was Minister of Finance in the Lange government.

A flat tax – adopted in some American states and European countries – is among the tax reforms favoured by the Act party as it tries to refresh its image.

We were led to believe the Morning Report team would kick this around with Act leader David Seymour just before 8am yesterday because they mentioned it in their introduction to an interview with him.  

Presenter Corin Dann said Act is targeting free speech “and radical tax reform” as it works to lift voter support heading into next year’s election.

The party had re-launched with the slogan ‘Act for freedom’.

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LSE Sociology: Are There Any Right-Wing Sociologists? (Maybe they mostly work in the criminology field!)

Elite Anxiety: Paul Collier’s “Future of Capitalism”

Notes On Liberty

Paul Collier, the controversial Oxford professor famous for his development work and his acclaimed books Exodus and The Bottom Billion, is back. But the author of Exodus and The Bottom Billion is long gone. The compelling writing and carefully reasoned world that made Bottom Billion impossible to put down has somehow disappeared. In The Future of Capitalism, Collier is tired. He is bitter. And he is sometimes quite mad – so mad that his disdain for this or that group of thinkers or actors in society consumes his otherwise brilliant analytical mind.

Instead of having his editors moderate those of his worst impulses, he doubles down on his polemic conviction. Indeed, he takes pride in offending people in all political camps, believing that it supports the book’s main intellectual point: ideologues of every persuasion are dangerous, one-size-fits-all too constricted for a modern society and we should rather turn…

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