The Unz Review: An Alternative Media Selection
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
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September 17, 2019 was a significant day in American economic history. On that day, the New York Federal Reserve began emergency cash infusions into the repurchasing (repo) market. This is the market banks use to make short-term loans to each other. The New York Fed acted after interest rates in the repo market rose to... Read More
Last Monday, a bipartisan group of Senators and a coalition including libertarian and progressive activists thwarted a scheme to ram through the Senate legislation renewing three provisions of the USA FREEDOM Act (previously known as the USA PATRIOT Act). The bill had already been rushed through the House of Representatives, and most expected it to... Read More
Governments love crises because when the people are fearful they are more willing to give up freedoms for promises that the government will take care of them. After 9/11, for example, Americans accepted the near-total destruction of their civil liberties in the PATRIOT Act’s hollow promises of security. It is ironic to see the same... Read More
Last week, the Federal Reserve responded to Wall Street’s coronavirus panic with an “emergency” interest rate cut. This emergency cut failed to revive the stock market, leading to predictions that the Fed will again cut rates later this month. More rate cuts would drive interest rates to near, or even below, zero. Lowering interest rates... Read More
The 1978 Humphrey-Hawkins Act requires the Federal Reserve to “promote” stable prices and full employment. Of course, the Fed’s steady erosion of the dollar’s purchasing power has made prices anything but stable, while the boom-and-bust cycle created by the Fed ensures that periods of low unemployment will not last for long. Despite the difficulties the... Read More
One thing we’ve learned from the Trump Presidency is that the “deep state” is not just some crazy conspiracy theory. For the past three years we’ve seen that deep state launch plot after plot to overturn the election. It all started with former CIA director John Brennan’s phony “Intelligence Assessment” of Russian involvement in the... Read More
Listening to the howls from Democrats and the applause from Republicans, one would think President Trump’s proposed fiscal year 2021 budget is a radical assault on the welfare state. The truth is the budget contains some minor spending cuts, most of which are not even real cuts. Instead they are reductions in the “projected rate... Read More
This week the latest Democratic Party attempt to remove President Trump from office – impeachment over Trump allegedly holding up an arms deal to Ukraine – flopped. Just like “Russiagate” and the Mueller investigation, and a number of other attempts to overturn the 2016 election. We’ve had three years of accusations and investigations with untold... Read More
During recent increased US-Iran confrontation, so many people viewed the Selective Service website to find out about the draft that the website crashed. People were right to be concerned about a return of the draft. With the ongoing military conflicts in Iraq and Afghanistan unlikely to end any time soon, and the possibly of the... Read More
You wouldn’t know it from US mainstream media reporting, but on Friday an estimated million Iraqis took to the streets to protest the continued US military presence in their country. What little mainstream media coverage the protest received all reported the number of protesters as far less than actually turned out. The Beltway elites are... Read More
Cato Institute Research Fellow Patrick Eddington recently filed several Freedom of Information Act (FOIA) requests to find out if the Federal Bureau of Investigation ever conducted surveillance of several organizations dealing with government policy, including my Campaign for Liberty. Based on the FBI’s response, Campaign for Liberty and other organizations, including the Cato institute and... Read More
President Trump’s decision earlier this month to assassinate Iran’s top military general on Iraqi soil – over the objection of the Iraqi government – has damaged the US relationship with its “ally” Iraq and set the region on the brink of war. Iran’s measured response – a few missiles fired on an Iraqi base after... Read More
President Trump and his Secretary of State Mike Pompeo told us the US had to assassinate Maj. Gen. Qassim Soleimani last week because he was planning “Imminent attacks” on US citizens. I don’t believe them. Why not? Because Trump and the neocons – like Pompeo – have been lying about Iran for the past three... Read More
Political correctness recently took a dangerous turn in the United Kingdom when the North Bristol National Health Service Trust announced that hospital patients who use offensive, racist, or sexist language will cease receiving medical care as soon as it is safe to end their treatment. The condition that treatment will not be withdrawn until doing... Read More
The bickering over impeachment did not stop the president and Congress from coming together last week to avert a government shutdown by passing a 1.4 trillion dollar spending package. The bipartisan agreement has something for everyone — a 22 billion dollars increase to bring total spending on militarism to 738 billion dollars, and a 27... Read More
“We were devoid of a fundamental understanding of Afghanistan. We didn’t know what we were doing.” So said Gen. Douglas Lute, who oversaw the US war on Afghanistan under Presidents Bush and Obama. Eighteen years into the longest war in US history, we are finally finding out, thanks to thousands of pages of classified interviews... Read More
Imagine that President Trump spent his phone call with the Ukrainian president threatening to withhold military aid unless the Ukrainian government agreed to use the money to purchase weapons from a US manufacturer. Does anyone seriously think that foreign service professionals and deep state operatives would be so shocked and offended by Trump’s request that... Read More
The 50-year US war on drugs has been a total failure, with hundreds of billions of dollars flushed down the drain and our civil liberties whittled away fighting a war that cannot be won. The 20 year “war on terror” has likewise been a gigantic US government disaster: hundreds of billions wasted, civil liberties scorched,... Read More
The most shocking thing about the House impeachment hearings to this point is not a “smoking gun” witness providing irrefutable evidence of quid pro quo. It’s not that President Trump may or may not have asked the Ukrainians to look into business deals between then-Vice President Biden’s son and a Ukrainian oligarch. The most shocking... Read More
Lost in the media’s obsession with the impeachment circus last week was Federal Reserve Chairman Jerome Powell’s testimony on the state of the economy before the Joint Economic Committee. In his testimony, Chairman Powell warned that when the next recession inevitably occurs, the US Government’s over $23 trillion debt would prevent Congress from increasing spending... Read More
When the New York Federal Reserve began pumping billions of dollars a day into the repurchasing (repo) markets (the market banks use to make short-term loans to each other) in September, they said this would only be necessary for a few weeks. Yet, last Wednesday, almost two months after the Fed’s initial intervention, the New... Read More
Attorney General William Barr recently sent a memo to law enforcement officials announcing a new federal initiative that would use techniques and tools developed in the war on terror, such as mass surveillance, to identify potential mass shooters. Those so identified would be targets of early interventions, which would include the disregarding of Second Amendment... Read More
President Trump is reversing his foreign policy decisions so quickly these days that it almost seems like he overturns himself before making the decision in the first place. Last week he was very clear that the US was pulling its troops out of Syria. “Bringing soldiers home,” he said. “Let someone else fight over this... Read More
Schoolchildren across the country recently skipped school or walked out of class to rally for new restrictions on our economic and personal liberties in the name of fighting “climate change.” Instead of punishing students for playing hooky to promote a political cause, many teachers and administrators allowed, or even encouraged, students to skip school to... Read More
When President Trump Tweeted last week that “it is time for us to get out of these ridiculous endless wars,” adding that the US would be withdrawing from Syria, Washington went into a panic. Suddenly Republicans, Democrats, the media, the think tanks, and the war industry all discovered and quickly became experts on “the Kurds,”... Read More
Since September 17, the Federal Reserve Bank of New York has pumped billions of dollars into the repurchasing (repo) market, the first such intervention since 2009. The Fed has announced that it will continue to inject as much as 75 billion dollars a day into the repo market until November 4. The repo market provides... Read More
You don’t need to be a supporter of President Trump to be concerned about the efforts to remove him from office. Last week House Speaker Nancy Pelosi announced impeachment proceedings against the President over a phone call made to the President of Ukraine. According to the White House record of the call, the President asked... Read More
President Trump deserves credit for resisting the war cries from neocons like Sen. Lindsey Graham and Secretary of State Mike Pompeo after last week’s attack on two Saudi oil facilities. Pompeo was eager to blame Iran because he wants war with Iran and anything that can trigger such a war is fine with him. So... Read More
The recent attacks on Saudi oil facilities by Yemeni Houthi forces demonstrate once again that an aggressive foreign policy often brings unintended consequences and can result in blowback. In 2015 Saudi Arabia attacked its neighbor, Yemen, because a coup in that country ousted the Saudi-backed dictator. Four years later Yemen is in ruins, with nearly... Read More
Former Federal Reserve official Bill Dudley’s recent op-ed calling for the Federal Reserve to implement policies that will damage President Trump’s reelection campaign states that such action would be unprecedented. Dudley claims the Federal Reserve bases its policies solely on an objective evaluation of economic conditions. This is an example of a so-called noble lie... Read More
The US Constitution never granted the federal government authority to create a central bank. The Founders, having lived through hyperinflation themselves, understood that government should never have a printing press at its disposal. But from the very beginning of America’s founding, the desire for a crony central bank was strong. In fact, two attempts were... Read More
The recent mass shootings in El Paso and Dayton have re-ignited efforts to pass “Red Flag” laws, which allow the government to take away a person’s guns without due process, and expanded background checks on those wishing to purchase a gun. Some supporters of these measures acknowledge they would not have prevented the Dayton and... Read More
Stocks fell last week following news that the yield curve on Treasury notes had inverted. This means that a short-term Treasury note was paying higher interest rates than long-term Treasury note. An inverted yield curve is widely seen as a sign of an impending recession. Some economic commentators reacted to the inverted yield curve by... Read More
The Federal Reserve, responding to concerns about the economy and the stock market, and perhaps to criticisms by President Trump, recently changed course on interest rates by cutting its “benchmark” rate from 2.25 percent to two percent. President Trump responded to the cut in already historically-low rates by attacking the Fed for not committing to... Read More
With a national debt approaching $23 trillion and a trillion dollar deficit for this year alone, Congress last week decided to double down on suicidal spending, passing a two year budget that has the United States careening toward catastrophe. While we cannot say precisely when the economic crash will occur, we do know that it... Read More
The UK got a taste of its own medicine this week as Iran seized a British tanker, the Stena Impero, just two weeks after UK Royal Marines seized a tanker near Gibraltar carrying two million barrels of Iranian oil. As could be predicted, the US and UK media are reporting Iran’s seizure of the Stena... Read More
Recently several prominent social and populist conservatives have attacked libertarianism. These conservatives, some of whom are allies in the fight against our hyper-interventionist foreign policy, blame libertarianism for a variety of social and economic ills. The conservative attack on libertarianism — like the attack on the freedom philosophy launched by leftists — is rooted in... Read More
Hypocrisy seems to have become a defining characteristic of US foreign policy, especially when it comes to Iran. After breaking the Iran deal last year and, de facto, forcing the Europeans to violate the deal in May, the US Administration is now complaining that Iran is no longer abiding by its obligations under the deal!... Read More
The mainstream media was too busy obsessing over Russiagate to notice that, according to an annual Social Security and Medicare Boards of Trustees report, the Social Security trust fund will run out of money by 2035. The trustees also reported that the Medicare Hospital Insurance trust fund will be empty by 2027. The trustees’ report... Read More
President Trump did the smart thing last week by calling off a US airstrike on Iran over the downing of an American spy drone near or within Iranian territorial waters. According to press reports, the president over-ruled virtually all his top advisors – Bolton, Pompeo, and Haspel – who all wanted another undeclared and unauthorized... Read More
Last week, the House of Representatives voted in favor of a Labor, Health and Human Services, and Education appropriations bill amendment to repeal the prohibition on the use of federal funds to create a “unique patient identifier.” Unless this prohibition, which I originally sponsored in 1998, is reinstated, the federal government will have the authority... Read More
Rep. Duncan Hunter (R-CA) found himself in hot water recently over comments he made in defense of Navy SEAL Edward Gallagher, who faces war crimes charges over his alleged conduct while serving in combat overseas. Gallagher is charged with stabbing a 15 year old ISIS member while in custody, of taking photos posing with the... Read More
Last week in an episode of my daily Ron Paul Liberty Report we discussed whether the US and British government were actually trying to kill jailed Wikileaks publisher Julian Assange. More than seven years ago Assange was granted asylum from the government of Ecuador over fears that espionage charges were being prepared against him by... Read More
Congress, and particularly the Democrat-controlled House of Representatives, seems determined to see the end of the Trump Administration before the 2020 vote. Although House Speaker Pelosi claims she is not seeking impeachment, she’s accusing the president of “covering up” something. However, she won’t say what until she can do more investigating. But Trump’s opponents on... Read More
A common trick of big-government loving politicians is to give legislation names so appealing that it seems no reasonable person could oppose it. The truth is, the more unobjectionable the title, the more objectionable the content. Two well-known examples are the “PATRIOT Act” and the “Access to Affordable and Quality Care Act.” Another great example... Read More
Is President Trump about to invade Venezuela? His advisors keep telling us in ever-stronger terms that “all options are on the table” and that US military intervention to restore Venezuela’s constitution “may be necessary.” Secretary of State Mike Pompeo was on the Sunday news programs to claim that President Trump could launch a military attack... Read More
Russian gun rights activist and graduate exchange student Maria Butina was sentenced to 18 months in prison last week for “conspiracy to act as a foreign agent without registering.” Her “crime” was to work to make connections among American gun rights activists in hopes of building up her organization, the Right to Bear Arms, when... Read More
Imagine being robbed every time you receive a paycheck, but once a year getting some of the stolen money back because the thieves took more than they intended. Would you be happy about it? If you are like most Americans the answer is yes, since most people are grateful when they get a partial “refund”... Read More
Last week’s arrest of Wikileaks publisher Julian Assange by the British government on a US extradition order is an attack on all of us. It is an attack on the US Constitution. It is an attack on the free press. It is an attack on free speech. It is an attack on our right to... Read More
Last month marked nine years since the Patient Protection and Affordable Care Act (popularly known as Obamacare) became law. Obamacare’s proponents promised that the law would reduce costs, expand access, and allow us to keep our doctors if we liked our doctors. The reality has been quite different. Since Obamacare was enacted, individual health insurance... Read More