The Morning Roar: Australia's 1st Elected Libertarian Speaks, Chinese Yuan Doubles In Use, and The IRS's Intent To Hide Info From Congress
It's Friday, so shoot off whatever remaining fireworks you have left! And also enjoy this Friday Morning Roar.Australia's First Libertarian Politician Speaks to the ParliamentWell, the United States still is looking for its first seated libertarian politician (and no, Rand Paul doesn't count) but David Leyonhjelm has taken the honor in Australia, representing New South Wales (hat tip to the people of that state, which includes the country's Capital of Sydney) as the nation's first elected libertarian official. Leyonhjelm gave his initial speech to Parliament today, and it was everything you'd hope for. FYI - Ignore the name of his party (the Liberal Democratic Party), as our understanding of political party names and corresponding viewpoints in the U.S. flip-flopped and became confused along the bumpy road of our history (primarily around the time of the Civil Rights Act). The LDP is purely libertarian.An excerpt from his opening:
"I also believe we are about to begin one of the most exciting periods in the life of the Senate. In the service of this mission, at the outset I declare that I am proudly what some call a ‘libertarian’, although I prefer the term ‘classical liberal’. My undeviating political philosophy is grounded in the belief that, as expressed so clearly by John Stuart Mill:The only purpose for which power can be rightfully ever exercised over any member of a civilised society against his will is to prevent harm to others.I pledge to work tirelessly to convince my fellow Australians and their political representatives that our governments should forego their overgoverning, overtaxing and overriding ways. Governments should instead seek to constrain themselves to what John Locke advised so wisely more than 300 years ago—the protection of life, liberty and private property."
The full speech is below, in handy video format for your viewing pleasure.Chinese Yuan Doubles Use In Global Finance We've long rang the alarm bells over the US Dollar's shaky position atop global currency, and I feel there should be no hindering my sounding another peal today after hearing the findings of the International Finance Institute. I'd link to the report, but it's all locked up, so we'll have to take the AFP's word for it:
China's yuan is a growing force in global finance, more than doubling in use over the past year, according to a new study from the Institute of International Finance Thursday.
Although its use in the international payments system remains dwarfed by the dollar and euro, the yuan, officially known as the renminbi, grew to 1.4 percent of total transactions.
In trade finance, overwhelmingly dominated by the US dollar, the yuan jumped into second place last year ahead of the euro and the Japanese yen, comprising eight percent of transactions.
And despite Beijing's still firm controls on its use, the yuan has become the ninth most-traded currency on foreign exchange markets, the volume hitting $120 billion daily on average, compared with $34 billion in 2010.
It still has a ways to go, but once the yuan becomes a widely accepted alternative to the dollar, trouble will soon follow.Under Lerner, IRS Sought to Hide Activities From Congress The case concerning the IRS under Ms. Lois Lerner, who presided over one of the most disturbing misuses of power in recent memory when she turned the IRS on conservative political groups, just keeps getting slimier. The latest discoveries come from a letter Lerner sent to her underlings, which lays open her intent to hide the IRS' s nefarious conduct. From the Washington Times:
Just as the IRS tea party targeting scandal was erupting, Lois G. Lerner warned colleagues to “be cautious” about what information they put in emails, because it could end up being turned over to Congress, according to an email message released Wednesday.The 2013 email exchange between Ms. Lerner and fellow employees at the Internal Revenue Service also says that instant message conversations were probably never stored and weren’t checked during open-records requests — even though they also fell under the law requiring electronic records to be stored.“I was cautioning folks about email and how we have had several occasions where Congress has asked for emails and there has been an electronic search for responsive emails — so we need to be cautious about what we say in emails,” Ms. Lerner wrote in an April 9, 2013, message.She went on to ask whether the instant message communications were stored automatically. When a tech staffer said no but the records could be stored if employees copied them, she replied, “Perfect.”
Lerner's email to staff was issued less than two weeks after it was revealed that investigations into the targeting of the conservative groups would be undertaken. Seems like slightly more than a coincidence.Read The Morning Roar every weekday Monday-Friday!The Lions of Liberty are on Twitter, Facebook & Google+Receive access to ALL of our EXCLUSIVE bonus audio content – including “Conspiracy Corner”, “Degenerate Gamblers” and the “League of Liberty Podcast” by joining the Lions of Liberty Pride and supporting us on Patreon!
