Friday, April 19, 2019

Users Flood Reddit With China Censorship Memes, Balk at $150 Million Investment From Tencent

by Oiwan Lam, Activist Post:

If you search “China” on Reddit this week, you’ll find a deluge of political memes — from the Tiananmen Square “Tank Man” photo to Winnie the Pooh to the Terminator.

These are all in protest of Reddit’s recent decision to let Chinese tech giant Tencent invest $150 million into the company.

Jim Grant on the Ignorance That Knows Not It Is Ignorant (Video)

by Peter Schiff, Schiff Gold:

Jim Grant recently appeared on the Santelli Exchange on CNBC and the conversation quickly turned to this notion that “intellectuals” have the wherewithal to run the economy. Friday Gold Wrap host Mike Maharrey recently explained two very important economic principles that make it impossible for central planners to ever truly succeed. As he put it, they might be smart, but they aren’t smart enough to know they’re not smart enough. Nevertheless, this doesn’t seem to dampen the fatal conceit and hubris of central bankers who think they can micromanage a complex economy.

John Rubino – Basel III and Gold

by Kerry Lutz, Financial Survival Network:

John Rubino returns… Probably not much. It’s in their interest to just sit back and wait while the rest of the world opens up the money spigot. They’ll probably wind up doing that too, but right now they can just keep the machine idling until the direction becomes clearer. We also had a discussion about Basel III. It could be that once again gold reserves will be considered money. Is that too much to hope for and would it upend the international monetary system? It does help explain renewed central bank buying.

Click HERE to Listen

Who Does Government Serve?

by Paul Craig Roberts, Paul Craig Roberts:

The US health system is the most high cost and dysfunctional health care system in the world. The reason is that it is privatized. In the rest of Western civilization the system is socialized.

The reason health care is socialized in civilized countries is not only to provide health care to citizens who otherwise could not afford it, but also to reduce the cost. In a privatized system, a profit has to be turned at every level: the general practitioner, the specialist, the diagnostic facility, the ambulance service, the emergency room, the hospital, the hospice, the health insurance company. All of these levels of profit build up the cost.