Liberty Newswire 8/31/2011

[The Liberty Insight Newswire is an aggregation of what we consider to be important financial and political news and commentary from across the web.]

This week’s newswire features a history lesson on the Constitution, a behind the scenes look at the mindset of the Federal Reserve board, European bailout fatigue, and a gentle reminder that our soldiers are still mired in a no-purpose war in Afghanistan.

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August: Deadliest Month for U.S. in Afghanistan
Army Times, August 30, 2011

The war in Afghanistan is the longest war in which the U.S. has ever been involved and August has been the deadliest month since the war began nearly ten years ago. Can someone please explain why we are letting our young men die and draining the treasury to secure a pile of rocks in the desert?

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Constitutional scholar refutes anti-Paul claims
The Daily Iowan, August 31,2011

Proponents of big government love to invoke the “necessary and proper” clause of the Constitution to justify any activity the federal government wants to pursue. (That is, when they are not invoking the “interstate commerce” clause.) In this op-ed, Tom Woods demolishes this dangerous line of thinking that has propagated down through the decades using copious quotes from the ratifying conventions of the Constitution.

If you’re not familiar with Tom Woods I would urge you to check him out here. The guy is brilliant and an excellent spokesman for liberty. His new book Rollback does an incredible job of debunking big government myths and presenting libertarian solutions.

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Fed debated QE3 at August meeting
CNN Money, August 30,2011

The markets these days are driven more by what people think the Fed will do, than by economic news. The release of the minutes from the August Fed meeting showed that they are close to initiating QE3. While Helicopter Ben didn’t formally announce a new round of QE during his recent Jackson Hole speech, he did extend the September Fed meeting from one day to two days so that the Fed board could discuss policy tools they could use to fix the economy; in other words, what form the next QE should take. When Bernanke does announce QE3, whether it is at the September meeting or later this fall, back the truck up and buy as much physical gold and silver as you can get your hands on.

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Euro bailout in doubt as ‘hysteria’ sweeps Germany
The Telegraph, August 28, 2011

It looks like the German people are getting sick and tired of throwing money down a rat hole to prop up “Club Med” countries. On a similar note, Finland has said that it wants collateral if it is to contribute to another Greek bailout. The nerve.

The European Union is a mess and its future is anybody’s guess. Here’s some food for thought, with all of the problems with the Euro, why isn’t the dollar gaining ground?

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