And here’s QE Explained, for those who haven’t seen it yet:

But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.

Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals. If such a law — which may be an isolated case — is not abolished immediately, it will spread, multiply, and develop into a system.

The person who profits from this law will complain bitterly, defending his acquired rights. He will claim that the state is obligated to protect and encourage his particular industry; that this procedure enriches the state because the protected industry is thus able to spend more and to pay higher wages to the poor workingmen.

Do not listen to this sophistry by vested interests. The acceptance of these arguments will build legal plunder into a whole system. In fact, this has already occurred. The present-day delusion is an attempt to enrich everyone at the expense of everyone else; to make plunder universal under the pretense of organizing it.

Connecting the dots from 1850, when Bastiat wrote this, to today, hardly seems necessary. 162 years later, and Bastiat’s The Law is fresh as a daisy.

The clip below is from 1991, at a Spina Bifida Foundation roast of Pat Buchanan. Rockefeller’s jokes about protecting the rich, joining the Trilateral Commission, and world domination are all quite interesting. Despite what you may hear, these are real organizations. They have real agendas. For example, Mario Monti, recently-installed “technocrat” head of Italy, chairs the group’s European operations. More after the clip.

By the way Pat, do you bank with Chase Manhattan?

Some people immediately tune out at the mention of a group like the Trilateral Commission. Don’t get all conspiracy theory on me bro. Call groups like this what you will, they’re quite real. I can’t vouch for their intentions, as I haven’t been invited yet.

But we can get some insight from contemporary historical accounts. Such as this one from the great libertarian economist Murray Rothbard:

Alan is a long-time member of the famed Trilateral Commission, the Rockefeller-dominated pinnacle of the financial-political power elite in this country. And as he assumes his post as head of the Fed, he leaves his honored place on the board of directors of J.P Morgan & Co. and Morgan Guaranty Trust. Yes, the Establishment has good reason to sleep soundly with Greenspan at our monetary helm. And as icing on the cake, they know that Greenspan’s “philosophical” Randianism will undoubtedly fool many free market advocates into thinking that a champion of their cause now perches high in the seats of power.

Love Rothbard. More at Mises.org.

Compare to Krugman’s view at the time.

And despite claims to the contrary, this clip makes it clear that Oakland police are using “flashbangs” or “stun grenades”.

This is pre-austerity. Pre-budget cuts. Things will get a lot worse when food stamps (which 1/6 Americans receive today) get cut. And social security, and medicare, and pensions. Haircuts all around. And, most likely, quite a few riots.

In the meantime, watch this performance of, What Did I Learn In School Today? I’m blown away by the message, “I learned that war is not so bad … Didn’t we all. This seems like a very positive development, and the twitter is asploud.

I’m still holding out hope for a less-unpleasant-than-expected solution to this fiscal/monetary mess we’re in. For that to happen, banks need to back down. Sooner the better, for all involved.

Banks of Marble:

Rogers warns against such economic blunders, noting “We had a trade war in the 1930′s, it led to the Great Depression.”

Shortly after that bludgeoning remark, Rogers adds “We already have small signs of trade wars breaking out in Brazil, France, other places, now America. This could be very dangerous in the end.”

Use the search function (top-right) to find more Jim Rogers stuff. Lots of videos in the archive from this wise investor.

Check It:

1) Jim Rogers Supports Ron Paul
2) Ron Paul 2012 Plug - Shameless