Yes, There Are Libertarians During Bank Runs
Plus: The editors recommend the best books for sparking interest in free market principles.

In this week's The Reason Roundtable, editors Matt Welch, Katherine Mangu-Ward, Nick Gillespie, and Peter Suderman analyze the fallout from the historic failure of Silicon Valley Bank and deride a recent congressional hearing concerning the reporting of independent journalists Matt Taibbi and Michael Shellenberger on the Twitter Files.
0:52: Silicon Valley Bank collapse
26:30: President Joe Biden's budget proposal
34:22: Weekly Listener Question
41:02: House Democrats vs. Twitter Files journalists
45:52: This week's cultural recommendations
Mentioned in this podcast:
"How the Fed Broke Silicon Valley Bank," by Joakim Book
"Everyone Is Learning the Wrong Lessons From the Silicon Valley Bank Collapse," by Elizabeth Nolan Brown
"Biden's Budget Will Raise Taxes Without Addressing the Federal Government's Spending Problem," by Eric Boehm
"Democrats Deride the Twitter Files Reporters as 'So-Called Journalists'," by Robby Soave
"Twitter Files: Employees Knew the Media's Favorite Russian Bots List Was Fake," by Robby Soave
"FTC Seeks Names of All Journalists With Whom Musk Shared Twitter Documents," by Elizabeth Nolan Brown
"Oscar-Winning Everything Everywhere All At Once Celebrates Individualism, Free Will," by Eric Boehm
Send your questions to roundtable@reason.com. Be sure to include your social media handle and the correct pronunciation of your name.
Today's sponsor:
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Assistant production by Hunt Beaty
Music: "Angeline," by The Brothers Steve
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Reason’s chosen 2020 candidate is causing a financial sector collapse in real time. I can’t wait to hear who they blame for it.
TRUMP!
Spoilers!
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People are already doing that on Twitter.
After swearing HE would never do such a thing, the President has blamed Trump for everything Biden has fucked eight ways from Sunday.
The Obama playbook when they ruin everything.
Cloward-Piven in real time.
Donald Trump blames Obama for Seahawks Super Bowl play call
https://fansided.com/2015/02/01/donald-trump-blames-obama-for-seahawks-super-bowl-play-call/
Except he didn't and your lunatic source is misrepresenting what he said, because comparisons aren't attribution, you fucking retard.
"Donald J. Trump
@realDonaldTrump
It must have been President Obama that called in what will go down as the DUMBEST PLAY IN THE HISTORY OF FOOTBALL. Same thought process!"
Yet again you failed to read your own link past the headline.
Also, Trump wasn't president in 2015.
Hahahahahaha
turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
Seems to be effective on shrike, sarc, and Mike.
Trump cancels Britain trip, blames Obama for 'peanuts' London embassy deal
https://www.reuters.com/article/us-usa-trump-britain/trump-cancels-britain-trip-blames-obama-for-peanuts-london-embassy-deal-idUSKBN1F10H6
“The decision to move the U.S. Embassy from its current Grosvenor Square location in the upmarket Mayfair area of London and to a site on the south bank of the Thames was agreed in 2008 under the presidency of George W. Bush. [tmsnrt.rs/2DnVe8U] However, Trump blamed former president Barack Obama for the sale, saying he would not attend the official opening of the new site.
“(The) reason I canceled my trip to London is that I am not a big fan of the Obama administration having sold perhaps the best located and finest embassy in London for ‘peanuts,’ only to build a new one in an off location for 1.2 billion dollars,” Trump said in a tweet late on Thursday. “Bad deal. Wanted me to cut ribbon-NO!” Trump said.”
Except contrary to your dishonest link, Trump was right and the embassy was sold under Obama, not Bush.
“The US state department agreed to sell the building to Qatari Diar in 2009 to fund a new embassy in the Nine Elms regeneration project south of the Thames.”
Qatar wins approval to turn US embassy in London into hotel
Shrike links are always self-refuting.
Remember, turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
Trump blames Obama administration for bad White House air conditioning
https://www.foxnews.com/politics/trump-blames-obama-administration-white-house-air-conditioning
“For instance, the Obama administration worked out a brand new air conditioning system for the West Wing and it was so good before they did the system,” he said.
“Now that they did this system it's freezing or hot in here,” he complained
This one isn't even refuted by the article. They're just mad that Trump said it was installed during the Obama administration.
Looks like all that child porn has rotted Shrike’s brain.
Keep in mind, turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
Trump blames Obama for Turkey’s purchase of Russian weapons
Read more: https://www.al-monitor.com/originals/2019/06/trump-blame-obama-turkey-purchase-s400-erdogan-g20-osaka.html#ixzz7vsjOPtoa
Shrike's articles claim:
"US President Donald Trump on Saturday blamed his predecessor, Barack Obama, for Turkey’s decision to buy advanced Russian missiles... However, the Obama administration agreed in 2013 to sell Turkey American Patriot missiles."
What Trump actually said:
“He wasn’t allowed by the Obama administration to buy it until after he made a deal to buy other missiles. So he buys the other missiles, and then all of sudden, they say, ‘Well, you can now buy our missiles.’ You can’t do business that way. It’s not good.”
Always read Shrike links. He never does and they're always self-refuting.
Don't forget that turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
Trump, Without Evidence, Claims Obama Spied On His 2016 Campaign, Elicits ‘Lock Him Up!’ Chant
https://www.forbes.com/sites/tommybeer/2020/09/14/trump-without-evidence-claims-obama-spied-on-2016-campaign-elicits-lock-him-up-chant/
Obama very much did spy on him.
Odd how Watergate, the scandal of the century at the time and resulting in the resignation of the Leader of the Free World, did not deter a Democrat President whatsoever.
In the least.
If only John Dean had used active duty CIA and FBI people to spy on Nixon’s political opponents instead of the retired Hunt and Liddy.
Hey Shrike, what's it called when a President employs the Director of the FBI, the Deputy Director of the FBI, the Chief of the Counterespionage Section of the FBI, the Director of the CIA, the Director of National Intelligence, and members of the Justice Department and the State Department to gather dirt on members of the opposition political party in an effort to ensure his former Secretary of State wins the Presidency?
Anyway... https://thehill.com/opinion/campaign/351495-it-looks-like-obama-did-spy-on-trump-just-as-he-did-to-me/
Pretty sure it's common knowledge that turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
Now, Trump blames Obama and Biden for all the crises he’s facing
https://theprint.in/world/now-trump-blames-obama-and-biden-for-all-the-crises-hes-facing/448790/
He's right. Biden makes Bush look smart and Obama makes Clinton look ethical.
Two of the biggest fuckups ever, and that's against competition like Wilson and Johnson.
Which statement are you actually claiming was made in that article?
He doesn’t even know.
turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, a TDS-addled pile of shit and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
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They will support Biden again for a second term. Don't you read the bash the Republican of the Day article? Trump, DeSantis, Haley. Yet almost nothing on Biden, Harris, Warren, Sanders or Mayor Buttplug.
Are Libertarians During Bank Runs?
Yes, There Are Libertarians During Bank Runs
But that is not the real question, the real question is
Are there any Libertarian leaning writers left at Reason?
If you're not a Republican then you're a Democrat, and since Reason doesn't pander to Republicans....
Except for Stossel articles, it’s been a hot minute since any of the articles I’ve read have started from first principles.
And are you really trying to argue there isn’t a huge disparity between Republican attack pieces and Democrat attack pieces?
There is definitely a disparity in the comments between such pieces.
Any "attack" on Democrat policies is swept under the rug. Nothing to comment on because it didn't happen. Reason is never critical of Democrats, so the articles don't exist.
Compare that to anything critical of Republican policies. Such articles garner hundreds of comments accusing the author and the magazine of being a leftist, because that's the only explanation for criticism of Republicans.
It's pathetically similar to how Democrats would react to any criticism of Obama with accusations of racism. Except in the Republican case it's derangement. Don't like Trump's trade war? You've got TDS. Don't like DeSantis' petty crusade against Disney? You've got DSDS.
Did I mention that it's pathetic? It's pathetic.
Why regulators seized Signature Bank in third-biggest bank failure in U.S. history
For his part, Frank, who helped draft the landmark Dodd-Frank Act after the 2008 financial crisis, said there was “no real objective reason” that Signature had to be seized.
“I think part of what happened was that regulators wanted to send a very strong anti-crypto message,” Frank said. “We became the poster boy because there was no insolvency based on the fundamentals.”
Paul Sperry
@paulsperry_
DEVELOPING: Fed Reserve Bank of SF that missed massive red flags @ SV Bank run by openly gay diversity quota & Janet Yellen protege Mary Daly who focused more on "climate change and inequities" than regulating rogue banks like SVB. Also chairs SF Fed Diversity & Inclusion Council
Wonder why Yellen is trying to help the bleeding.
This is utter horseshit. Signature GOT BAILED OUT. As did SVB. Which means that crypto got bailed out even though it has spent 10
+ years pretending that its libertarian cred means no bailouts.
SVB has $180 billion in deposits. 85% were NOT insured by FDIC. Except now they are.
Signature had $90 billion in deposits. 90% were not insured by FDIC. Until now.
WTF do you think that is if not a bailout. This is an obscenity and, as usual, 'libertarians' are worse than merely useless.
Not a surprise either that many of the risk management provisions of Dodd-Frank were repealed for 'small banks' (meaning SVB, Signature, Silvergate) - the 2018 Reason article re that repeal
Dodd-Frank was near useless as a solution to to the 2008 problems. But why am I not surprised at all that the selective repeal leads precisely to selective bailouts the first time the banking system gets 'stressed'
Keith Olbermann wants Elon Musk banned from Twitter.
https://www.zerohedge.com/political/monday-humor-musk-triggers-angry-old-man-tweet
Mark Kelly, dem senator, wants to censor any negative discussion of SVB.
Michael Shellenberger
@ShellenbergerMD
EXCLUSIVE: Senator Mark Kelly Called For Social Media Censorship To Prevent Bank Runs
.
Democrats are demanding ever-more censorship in a widening social media panic
But it’s totes Republicans we have to worry about. Just ask Jeff or Mike.
Or Reason
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Remember that Chinese balloon/UFO kerfuffle a couple weeks ago? Yeah me neither.
https://cms.zerohedge.com/s3/files/inline-images/insider-weekly-267-07-700x393-2.jpeg?itok=eiAG-XJA
Trump Blames Obama Decision for Coronavirus Test Kit Shortage
https://www.bloomberg.com/news/articles/2020-03-04/trump-blames-obama-era-rule-for-coronavirus-test-shortage#xj4y7vzkg
He wasn't wrong.
It's hard to forget that turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
President Trump Points Finger at Obama on Russian Election Hack
https://time.com/4828283/russia-hacking-election-trump-tweet-obama/
Obama was in charge in 2016.
Little did Trump know it was actually Obama's FBI rather than the Russians.
Don't ever forget, turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
Trump blames Obama for Ebola in NYC
https://www.freep.com/story/news/nation/2014/10/24/trump-blames-obama-ebola-diagnosis/17824575/
And he was right.
"I have been saying for weeks for President Barack Obama to stop the flights from West Africa. So simple, but he refused. A TOTAL incompetent!
President Obama, you are a complete and total disaster, but you have a chance to do something great and important: STOP THE FLIGHTS!"
...President Obama has said he is not against a travel ban, but the United States should be wary of cutting itself off from West Africa.
Trump wasn't even president at this point, Shrike. Just a private citizen. You're starting to lose your plot, huh?
Or, more likely, you didn't read your link.
Is it possible that anyone doesn’t know that turd, the ass-clown of the commentariate, lies? It’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar. If anything he posts isn’t a lie, it’s totally accidental. turd lies; it’s what he does. turd is a lying pile of lefty shit.
Fact check: Trump falsely blames Obama for pricey drugs
https://www.freep.com/story/news/nation/2014/10/2/trump-blames-obama-ebola-diagnosis/17824575/
Fact check: Your link is about Ebola again.
Hurry up and post the right one so I can refute you.
What do you expect? turd lies.
So broken.
Most everyone here knows turd, the ass-clown of the commentariate, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
Yes, There Are Libertarians During Bank Runs
Of course!
The smart ones the have shelves full of tin cans, Ball Jars, and Mason Jars full of canned goods, plus Food Saver packets of vacuum-bagged goodies fresh from the Beautiful Air Fryer/Dehydrator! Not to mention supplies of toiletries, Household chemicals, batteries, fishing gear, weaponry and rounds!
And the really saavy, well-off ones I want to be when I grow up have gardens, chickens, cattle, and garage freezers full of hunted or slaughtered animal flesh!
No APR Interest, but lots of culinary interest! Penalty-free and tax-free dividends and capital gains! And moral hazards don't cut it between you and Mother Nature!
So libertarians have nothing to offer. Not a surprise.
It’s gonna be everyone for themselves sooner or later, get used to it.
Lefty shits have much to offer: Starvation, shortages, poverty, despair, police states, but many 'good intentions' to sway lefty shits like JFree.
So what would you do, oh wise one?
The same thing as 2008. T-bills ARE a payments system for US dollars. Post Office is a legitimate distribution system for T-bills used by every country in the world except the US. There is nothing coercive or unconstitutional about either of those.
A PO bank – with deposits backed entirely by T-bills – cannot have a bank run. Nor does it require FDIC insurance – not for a $1 deposit or a $100 billion deposit. It could have been set up in a couple months at any time in the last 250 years. TO PREVENT THE NEXT FINANCIAL CRISIS. To forestall the extortion inherent in rationalizing a bailout of bank depositors. When that is an existing alternative to a banking system there is no need for any bank bailout of anything ever
But libertarians have no interest in anything but sowing fear as a prepper. Hoping and praying for an apocalyptic vision of the world/society. Worse than useless.
That’s an interesting take that I will have to think about in more depth. In this particular instance, much like in 2008, the libertarian answer is let the banks that made shit investment decisions or decided social signaling was more important than running a functioning bank die.
I don’t think you get to lecture anyone on fear mongering though.
So the very U.S. Post Office that cuts back on services and hours, raises prices, bans private competition such as that from Lysander Spooner, and still can’t stay afloat without help from Congress is our savior against banking crises?
You’re shitting me, right?
PO is the building where that happens. The people managing assets and liabilities and T-bill stuff are the same Treasury folks who have never defaulted in the history of the dollar. And the beneficiary is every American who now also has an alternative way of financing $30 trillion in debt rather than exclusive reliance on primary dealers and banks who demand periodic bailouts for themselves
And how is a Government that racks up that much debt ever possibly able to make good on T-Bills short of taxation or having the Fed print more money?
And isn’t SVB putting the bulk of the money from depositors into T-Bills that lost value instead of making loans and drawing interest what helped start the crisis?
The only choices are not bailout for banks VS. T-Bills via The U.S. Post Office.
My stockpile is better and more reliable than both because I can’t get out more than I put in and I don’t rob anyone to keep it filled. And when fully stocked, it’s not at the mercy of a U.S. Post Office strike or rain, snow, sleet, hail, or dark of night.
Best-case scenario, I eat, drink, and be merry; worst- case scenario, I eat, drink, and be merry! A can’t-lose investment!
https://thehill.com/opinion/finance/575722-the-us-has-never-defaulted-on-its-debt-except-the-four-times-it-did/
The US has never defaulted on its debt — except the four times it did
I'm old enough to remember 3 and 4
3. Then the U.S. government defaulted in 1968 by refusing to honor its explicit promise to redeem its silver certificate paper dollars for silver dollars. The silver certificates stated and still state on their face in language no one could misunderstand, “This certifies that there has been deposited in the Treasury of the United States of America one silver dollar, payable to the bearer on demand.” It would be hard to have a clearer promise than that. But when an embarrassingly large number of bearers of these certificates demanded the promised silver dollars, the U.S. government simply decided not to pay. For those who believed the certification which was and is printed on the face of the silver certificates: Tough luck.
4. The fourth default was the 1971 breaking of the U.S. government’s commitment to redeem dollars held by foreign governments for gold under the Bretton Woods Agreement. Since that commitment was the lynchpin of the entire Bretton Woods system, reneging on it was the end of the system. President Nixon announced this act as temporary: “I have directed [Treasury] Secretary Connally to suspend temporarily the convertibility of the dollar into gold.” The suspension of course became permanent, allowing the unlimited printing of dollars by the Federal Reserve today. Connally notoriously told his upset international counterparts, “The dollar is our currency but it’s your problem.”
Silver certificates were pretty common when I was a boy. I remember my dad telling me if I took one to the bank they'd give me some silver. That didn't last long.
Rational Preppers/Survivalists do not hope for an apocalyptic vision of society. They do what they do to counteract both the mini and massive apocalypses that Nature and other humans foist upon them.
And Rational Prepper/Survivalists do what they do, not because apocalypse is inevitable, but because there is much in life that is worth enjoying and life requires showing up and being there to show up for it.
And speaking for this Rational Prepper/Survivalist, I do what I do precisely because prayer to God or Government is worthless. As The Humanist Manifesto II put it: "No deity will save us; we must save ourselves."
No, they have precisely everything to offer!...As long as you have something of value to offer in return and leave others alone in their peaceful production and exchange. Dummy!
Sanford Dummy Reel
https://youtu.be/moYdbNXBwvk
I forgot to mention medicine and books too.
Libertarian-minded Preppers and homesteaders have it all to trade or even give, but anyone who tries to take it does so to their peril.
Economic Crash? Third Fury
In the world of reality, currently three Furies are striking these United States and the rest of the world. In the world of literature, so begins a novel that appeared before any of the Furies.
In response to current events, we are witnessing a flood of mainly non-fictional books complaining about one thing or another. Some authored or ghost-written by celebrities on television. Many complaints. Few solutions. None offering comprehensive, scientifically-based solutions. One does — Retribution Fever.
In repairing the ruin that this fragmenting, declining nation on fire is suffering, for a book to be of truly universal value, it must address all four cornerstones of society; namely, government, law, education, and medical delivery. Few do.
For a book to be of such universal value, it must be scientifically-based and scientifically-driven. The particular science is Biobehavioral Science.
https://www.nationonfire.com/biobehavioral-science-2/ .
Retribution Fever (2018) is a book that tells a story filled with facts and a detailed blueprint for repairing the current ruin. It accurately predicted the ruin that we face today. It addresses the four, crumbling cornerstones with solutions based upon the Constitution but incorporating the Scientific Method.
No interest in Biobehavioral Science? Our foremost adversary, the Chinese, have an avid interest. They are winning. We are losing. Remember, the height of arrogance is exceeded only by the depth of ignorance. Arrogance and ignorance have led us to the bank of the River Styx and into its black waters towards a nether world from which few great nations ever return. Behavior has its consequences.
“Whatsoever a man soweth, that shall he also reap.” -Galatians VI:7
“…In repairing the ruin that this fragmenting, declining nation on fire is suffering, for a book to be of truly universal value, it must address all four cornerstones of society; namely, government, law, education, and medical delivery…”
Where does “making a living” end up there?
He's making a living by plugging his manifesto with this spam.
Hope his "living" doesn't include his drug money.
BioBehavioral_View's idea of making a living is jumpin' down, turnin' around, and pickin' a bale o' cotton...Only he'd use surveillance cameras, spyware, and electric cattle prods to get that work done by rightless slaves. And he'd send out the work songs on loop via Orwellian Telescreens:
Lead Belly Pick A Bale Of Cotton live 1945
https://youtu.be/T314R0_5pb0
Imagine a human face with VR glasses and Epoxy-ed earbuds seeing and hearing this...forever!
Man...Funk Dat!
https://youtu.be/iOFKU_hwj2o
So basically, your Biobehavioral Science is mass surveillance and Pavlovian rewards and punishment scheme used by the Reds in China on human beings, but refitted to encourage "virtues" in a barbaric book of Grimm Fairy Tales known as The Holy Bible?
And you equate that to science, a practice that understands the Universe by volitional use of the senses and Reason and which shows it's homework and has real working results which has actually freed human beings wherever applied?
Well that sounds just like a Ku Kluxer who read some bad Sci-Fi but no actual science.
Fuck Off, Pseudoscientific Ku Klux Krud!
Wrong place.
It’s really so hard to believe that this company was set up to make people as well as investors to lose their funds and to regret their actions. I was so dumb to have associated myself with this scam scheme and i faced the consequences by losing some money at first , but I was reimbursed through the help of professionals from cp-investigation (.) com and I was told to be careful of most investment companies out there.
Yep, and as always, his links prove him wrong.