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America’s Life of the Lie

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Over the Thanksgiving holidays, I visited Luray, Virginia, a beautiful little town nestled in the Shenandoah Valley. Walking by the county courthouse, I noticed a plaque out in front, whose inscription exemplifies a root cause of the dysfunctional nature of American society. The plaque reads: Page County Veterans Memorial Those who have long enjoyed such freedoms as we enjoy forget in time that man has died to win them. Dedicated to those who served their country in times of war and peace especially dedicated to those who paid the ultimate sacrifice in order that all mankind may live free. We all gave some and some gave all. The plaque lists the names of American military personnel from Page County, Virginia, who died in four of America’s foreign wars: World War I, World War II, Korean War, and Vietnam War.

The Late Great Walter Williams

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As most everyone in the libertarian movement knows by now, the great libertarian economist Walter Williams passed away a couple of days ago. HIs passing came as a big shock to me and, I suspect, to most other libertarians. Walter has been a giant, larger-than-life figure in the libertarian movement. I never thought about the possibility of his passing, even though he was 84. For those of you who are not familiar with Walter, we are linking to several articles in today’s FFF Daily and on our website that give his background and achievements and that pay high tribute to him. Then, this Saturday we will be linking to several more tributes published by various libertarian organizations. Soon after FFF was founded in 1990 in Denver, Walter agreed to be a featured speaker at our inaugural dinner. Since we were just getting started, it was ...

The Federal Reserve Killed My Grandfather

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One day when I was in high school, my father told me about the death of his father. In the 1920s, my grandfather, who lived in San Antonio, owned the second-largest insurance agency in Texas. He had extended a large amount of credit to his customers. One afternoon he came home, and my dad said that his face was “white as a sheet.” He told the family, “I have just sold the company.” Shortly after that, he died of a heart attack. My grandfather had gone broke as a result of the Great Depression, which also undoubtedly brought on the heart attack. Of course, he wasn’t the only one. There were countless people who lost their life’s fortune. Many wealthy people who were now penniless ended their lives through suicide. At the time people were told that the 1929 stock-market crash and the subsequent Great Depression ...