Apr 11

Gold hits another high, Silver breaks $40

Gold breached the $1,470 mark and silver topped $40.

Oil is trading around $111 and other commodities continue their ascent.

<sarcasm>But don’t worry.  All of this inflation is transitory.  Soon the Fukushima reactors will be as good as new, the wars in the middle east will be won and government budgets the world over will be balanced.  Oh yeah, and Bernanke will be able unwind the tripling of the monetary base in about 15 minutes.  Yay!!  Free health care for everybody!</sarcasm>

Apr 11

GOP lawyer drafts Obama impeachment

by Ben Smith | Politico | April 6, 2011

A prominent libertarian constitutional lawyer and civil libertarian has drafted an article of impeachment against President Obama over his attack on Libya, throwing down a legal gauntlet that could be picked up by some Congressional Republicans. Continue reading →

Mar 11

Constitutional Problems with the Libyan War

by Ron Paul | Campaign for Liberty | March 29, 2011

Last week the Obama Administration took the United States to war against Libya without bothering to notify Congress, much less obtain a Constitutionally-mandated declaration of war. In the midst of our severe economic downturn, this misadventure has already cost us hundreds of millions of dollars and we can be sure the final price tag will be several times higher.   Continue reading →

Mar 11

Pentagon: Libya Operation costs $600 million in first week

by Devin Dwyer and Luis Martinez | ABC News | March 28, 2011

One week after an international military coalition intervened in Libya, the cost to U.S. taxpayers has reached at least $600 million, according figures provided by the Pentagon. Continue reading →

Mar 11

Who’s in charge? Germans pull forces out of NATO as Libyan coalition falls apart

by Daily Mail Reporter, Daily Mail, March 23, 2011

Deep divisions between allied forces currently bombing Libya worsened today as the German military announced it was pulling forces out of NATO over continued disagreement on who will lead the campaign. Continue reading →

Mar 11

Oil tops $105 per barrel

by Chris Kahn, Associate Press, March 22, 2011

NEW YORK (AP) — Oil prices pushed above $105 per barrel Tuesday, as traders focused on a series of international crises that could tighten global supplies at a time when consumption is expected to increase. Continue reading →

Mar 11

Morning Roundup – March 22, 2011

The unconstitutional war with Libya continues as its consequences slowly start to come in to focus.

  • National Review:  Cost of (unauthorized) Libya Operation Already Piling Up – We will need to borrow and print more money to wage this conflict.  Over $100 million spent the first day on bombs.  Billions will be spent without congressional authorization.
  • Financial Time:  Gold key to financing Gaddafi struggle – Meanwhile, Gaddafi, seems to have been smart enough to maintain physical position of his gold.  With a reported 143 tonnes has the “real” money needed to wage war for sometime.  I suspect other dictators will think twice before depositing their gold in western bullion banks in exchange for paper claim checks.
  • Time of India:  Russia, China call for immediate ceasefire in Libya – Either Russia or China could have prevented this action with a UNSC veto.  Perhaps, they allowed us to go forward in an attempt to weaken us militarily, financially and diplomatically.
  • Rolling Stone:  U.S. Bombs Libya, Helps … Jihadists?! – I guess we still haven’t learned.  I suppose it won’t be long now before we are arming al Qaeda in Libya, and not too long after that they turn our own weapons on us.

Mar 11

Obama wages war on Libya without Congressional approval

President Obama has engaged in waging war on the nation of Libya.  He has done this when Libya has not attacked and does not pose any direct threat to the United States.  He has done so without the explicit approval of Congress.  As a student of constitutional law, surely the president knows this is an impeachable offense.  Even members of his own party are objecting to this action.  As then Senator Barack Obama said in 2007:

The president does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation

Continue reading →

Mar 11

The US should stay out of Libya

There has been much talk over the past several days about setting up a ‘No-Fly Zone’ over Libya.  However, what is the justification for such an action?

Setting up a no-fly zone is an act of war.  It is not put in place simply by saying it is so.  It involves bombing airstrips, anti-aircraft assets and radar stations.  It also requires that we shoot down any aircraft that violate the no-fly zone.  Each of these acts individually constitute an act of war.  Collectively they are nothing less than an outright attack on the nation of Libya.  Continue reading →