Patriot's Lament November 3, 2012: Obamney Inflation and Economics

In this episode we talk about Romney being a crony capitalist, not a free market one. We talk about the impossibility of voting for freedom, and how property owners were the only ones that should have a vote.
14-year-old Israel educates us on taxation through inflation, and we argue with Randy about whether there is even ONE thing good to be said about Romney. We also make the charge that the republican party uses abortion as red meat every time there is an election, but given the chance to actually do something about it, they never do.

Fool's Gold at Olympics

Writes Butler Shaffer at the LRC Blog:

A news story informs us that a "gold" medal at the Olympics contains 1.34% gold. It wasn't always this way. In 1912, the gold medal contained 100% gold. In 1913 the Federal Reserve Act was enacted, and while there is no apparent causal connection between this legislation and the content of medals, it is interesting to see a parallel development. A gold medal that has steadily gone from 100% gold to 1.34%, finds a similar path in the decline of the value of the dollar: a 1913 dollar is, today, worth about 5 cents. The size of the gold medal has greatly increased — quantity as a substitute for quality — leaving us to ponder whether, with a continuing rise in its price, gold will soon be eliminated completely from this enlarged medal. In a world in which political systems are able to bamboozle Boobus with the empty appearance of things, the Olympics may find it useful to craft this medal entirely from iron pyrite, a bright, yellowish mineral.