May Issue Larr-Murphy Report (LMR)

8/6/2019 May Issue Larr-Murphy Report (LMR)

http://slidepdf.com/reader/full/may-issue-larr-murphy-report-lmr 1/34

Build ing The 10%

LMRM A Y • 2 0 1

P U L S E O N T H

M A R K E T

THE HEART OFMESSYNOMICS

Interview wi

Hayek-Keynes Rapmast

JOHN PAPOLA

A R A - M U R P H Y R E P O R

THESPECIALI

NFINITEBANKINGCONCEPT

ISSUE!

WHY IBCWORKS

Luck or Manipulation?

Federal Overdraft • Utah

TSA Reaches Out • Bob Up Hill

THE IBC

SOLUTION



L M R M a y 2 0 1 1

Bring a Privatized Banking

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3 Speaker / Authors from the

Austrian School of Economics

L. Carlos Lara Robert P. Murphy, Ph.D.

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M a y 2 0 1 1 L M R

F e a t u r e d

e c o n o m i c d e e p e n d

the iBc SolutionI you are a fnancial advisor or you want to know what

a fnancial advisor should be inorming you about,

you need to read this article now! BY L. CARLOS LARA

Why iBc WorkSSome the most imortant economic understanding you

need to know when helping others consider the IBC

solution to personal fnance. BY DR. ROBERT P. MURPHY

pulSe on the market

Luck or Manipulation?Federal Overdraft • Utah

TSA Reaches Out • Bob Up Hill

Overview

the heart oF meSSynomicS

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614

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22

lara-murphy report

May 2011 - Every government in history has had

an unortunate colapse. Our country is heading in

that very same direction with only on key dierence!3

31o n e m o r e t h i n g

C P F b: A/F



2 L M R S E P T E M B E r 2 0 1 0

LMRL. Carlos Lara

Editor in Chief

Dr. Robert P. Murphy

Executive Editor

Anne B. Lara

John R. Connolly

Managing Editor

Design Director

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A BO UT L A R A & M U R P H Y

L. C arLos L ara p p , b

b- . T ’ p w wp . S b w p , p

j , , b . Lp p 1976

N, .H A H. Bw 1970.

.

Dr. robert P. “bob” MurPhy P.D. Nw

Y U. A H C, Mp w A L’ . Mp w w b b CBRPM..

H b p, Te

Politically Incorrect Guide to the Great Depression and the New Deal (R, 2009).

Mp j w Lw M I. H N, w w .



M a y 2 0 1 1 L M R“It is the masses that determine the course of history, but its initial movement must start with the individual.”

- How Privatized Banking Really Works

Lara-Murphy report

May 2011

D R,

O p. W w b bp p . I w x p w , w pp w . G, w b pp pw, b p w p. T w , p b w . C, p w w. A w b p . E b p

p. W p pp . T p p . I , p b w w .

T R w w “decline” w b “all” w w . T w p . T w w w pp . N, w b , w pw w w.

D p ? E b reedom A. I , , pb p p b b p . I

w .

W w w . W will b .

Y ,

C Bb



4 L M R M a y 2 0 1 1

PULSE ON HE MARKE

Recentdevelopments

that may beo interest to

readers o the Lara-Murphy

Report …



M a y 2 0 1 1 L M R

PULSE ON HE MARK

Te Ultimate Insiders Don’t Like Competition. T b Rj Rj, G Gp, w 14 p, “ .” B pb p pp p p w—w w p p p w b b— b Rj wp. T w p , w pbb p p p p. I, w b Zbw . , w 1985 2001, b U.S.C b b 6% p , pb b

w w . B ’ w, ’ b w—S Ex A b p xp b C.

L u c k o r M a n i p u l a t i o n

Speaking o Bending the Rules… T U S already x b ; b -M. A p, S G p p . Sp, ( p w) w . W p , w w’ b w p . I, G w “ p” w b, w p p w w p . B , G p A. O p U S w -pp b : C p . T

w , (b S P R b A), . I’ p C b xp b.

F e d e r a l O v e r d r

a f t

Baby Steps to the Sound Money Solution? T U b f . T b p . T ’ “” pp , b ’ p w b . W’ w p p.

U t a h

Gold and Silver Coins May Be OK, but Don’t Mess With the SA. I , w not

pp w pp x “-p” w w p p p. A , p w x w pp SA . I p, x ww p b, ’ p, SA w p b x, ’ w . N w, w ’ w pp pp p. B , w pw . I w , , p —w b — p w w . A , w p p x p, p b . I’ p “ ” b . E p pb , w ’ w

pp.

T S A R e a c h e s O u t

B o b U p H i l l

Mr. Murphy Goes to Washington. O M 25, b Sb O G R bw F p p. I w p wRp. D K (D-OH) Mp w w pp F C, -p w b b. Mp F b b , K w ’ w F.



6 L M R M a y 2 0 1 1

HE IBC SOLUION



M a y 2 0 1 1 L M R

HE IBC SOLUI

b p . M jb b p. C b b. , b w p

’ w . F , -p w w b w w b b . T pp w p . F pb

w . Pp w p w p p b . A p w b xp , w p. I b b , p w, , b A .

I w w

xp p p w. T infation,thFederal Reserve PrivatizedBanking . w xp pb .

L, w w, f. E w- w

pb . I , ’pb pw b . T b,, b w bj x b

. N p, w w w w p .E b b w .A A

p p p .

T p p. A ,

w w p pp b p.I 2011 pp w , , w p. C, p w p

. T w pb w .S , w 2008, b b b w ’ b,

B Y L . C A R L O S L A R A

P F b: w98



8 L M R M a y 2 0 1 1

HE IBC SOLUION

Inlation

O b p p ination. A w , p p w b b p p. T

xp w w p . W pp b p . A , , bb w ppxp. O ,

A p . I p xp indirect tax b p. I x w, w b p

p .

T w p w w w. I , w w b xp b b w pw xp . H xp p w,b, , w

. Tp b. N b ’ w , b b p w . Lw M, b A S E 20

xp w:

Everything that is being done by a government against the purchasing power o the monetaryunit is, under present conditions,done against the middle classesand the working classes o the population. Only these people don’t

know it. And this is the tragedy…

What I want to point out ithat the greatest problem today i precisely this, although the peopdon’t realize it. Te danger is duto the act that people conside

ination as something that hurtother people. Tey realize very wethat they too have to suer becausthe prices o the commodities theyare buying go up continually, buthey don’t realize ully that th greatest danger or them is preciselythe progress o ination and theect it will have on the value otheir savings.

…We should not orget thaover and above the consequenceo destroying a country’s monetarystandard, there is the danger thadepriving the masses o their savingwill make them desperate. (1.)

he Federal Reserve

L’ b . I ppH p eects M pw b p p T w p b w . E

pp.

Te word “inationoriginally applied solely to thquantity o money. It meant thathe volume o money was inatedblown up, overextended. It is no



M a y 2 0 1 1 L M R

HE IBC SOLUI

mere pedantry to insist that the word should be used only in itsoriginal meaning. o use it tomean “a rise in prices” is to deect attention away rom the real cause o ination and the real cure or it.(2..)

W w ? L Cb R w x w f p R’ xp. pb, C pp

. H b pp pb, b xp R . I F R p b b C: I w p x bw(b) p , p w ppb F R. Tp C’, b . A b p x p. I

w, x p w b b b, pb p .

T b xp w

j w pb. T w, , K . M b J M K 1936, K

p (bw).A , p b, spending b w p. T p w C , w w

. I K w, - — bw ’— p . T, , j pp w w b . N, w b , p

w K . T p w w FR (). A

bw p w p b f p p.

O p b b , w b

w p p b b. U p p , F R w b. O

P h o t o r o m F l i c k r b y : e p i c h a r m u s



10 L M R M a y 2 0 1 1

HE IBC SOLUION

pp w p , F R x .N, : p

b w w 14 , bw . T b p x bw FR p b wb U.S. p. I w ?

Privatized Banking

W w ? W w w w? O ! N w. H w p Sound Money Solution.

It is impossible to grasp the

meaning o the idea o “sound money” i one does not realize that it was devised as an instrument or the protection o civil libertiesagainst despotic inroads on the part o governments. Ideologicallyit belongs in the same class with

political constitutions and bills o rights.(3.)

T b pp p b. W p b ,

w b pp xp b,pp w b b b x p. W w sound money. Hw, w pp . T w

p p—pp p , bE w , b pp p A

. U pwpp wb . B p w , b b bb w p b

b w A .

Sp SM S b . T p p b p . G b pp b T p privatizebanking : b b p . T p p ’ p p f bb. I p p w b p w b

b; p w . I b End the Fed RP p b xp:

Tere is another path, but irequires a complete turnaround. Irequires only the political will t P

h o t o r o m F l i c k r b y : c l i f 1 0 6 6 t m



M a y 2 0 1 1 L M R

HE IBC SOLUI

unplug the machinery o the Fed.Contrary to what people might think at frst, this will not meanan end to the fnancial system, aswe know it. In a post-Fed world,we will still have the dollar, banks, AMs, online trading, Web-based

systems o und transer—none o this is going anywhere…

When we unplug the Fed, the dollar will stop its long depreciating trend, international currencyvalues will stop uctuating wildly,banking will no longer be a dice game, and fnancial power will cease to gravitate toward a small

circle o government-connected insiders.(4.)

W FR xp pp w ,

xp w b . O x w w. T w w p: , p w .

Ob, f w pw w pb p . T, w ppb . F, “” pp,

j. M A b j 10 p pp,p p , , b , p . T

w p pO I B Cp (IBCp pw b S M S w p

, 10 p b pb.

T S MS’ Sp2—Privatized Banking . NN, IBC p, ,

p—p w — b p pb, E p, w jp



12 L M R M a y 2 0 1 1

HE IBC SOLUION

w p , not xp pp. T p b . N w pp -p w w

“b w b,” b ( ,’ , , p) p p, b . T b

b-b b b A w b b wp b F R. I, w w A b . U p “ b,” p IBC , addition b xp.

W p w .

I b p

w p w. T p , , W . N b . T

’ p p ,b p . I b , pw p ,

p . O p , w b b p ! G p w b . H w b .

Conclusion

T p w A IBC p p p p b 10 p.A bp IBC, w w j : F, P B— p S

M S—w

. S, wb wb independen T, pp b p - p pb

p p w b . Ap ’ w b b , . T p IBC w p A

p , b p w b w .

A actionN w , b b — b . T w , b w . T .

he IBC SolutionBbp

1. Q G. Ew Gf, Te Creature From Jekyll Island (W V, CA: A M, 2002), p 323 329.2. H H, W Y S Kw Ab I (Nw Y: D V N Cp, I., 1965), p. 23. Lw M, Te Teory o Money and Credit, p. 4544. R P, E F, (Nw Y, G C Pb, 2009),p.202 2035. L. C L Rb P. Mp, How Privatized Banking Really Works, (S B I, A Ab M, 2010)



M a y 2 0 1 1 L M RLMR SEPTEMBEr 2010

13

+

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14 L M R M a y 2 0 1 1

WHY IBC WORKS

P F b:



M a y 2 0 1 1 L M R

WHY IBC WO

W pp b I B Cp (IBC), p , “T’

b .”

F xp, IBC w p, p p p p . T p p w’ w w b , w bw (.. p), w p , w p p b . Np, p p w p

w x ’ .

I , p w b . E w

pp , w() w , bw w jp p w b pp. T p b , w pb b .

S IBC p ? A , w ? A p b w b b p ?

N, IBC . I p

p , j w p . A , p b b, p

I p IBC p b .

A , I xp w’ T b

collateral . O w w w p w, w p , bb w ’ p ppw .

I p I’

B Y D R . R O B E R T

M U R P H Y

P F b: _2000



16 L M R M a y 2 0 1 1

WHY IBC WORKS

. F , I N J 22-23 “N C.” (F p:// www../.)I S

wp, I’ b , w p b w p w IBC w w.

erm Versus Whole Lie

Insurance

“p”. T p p p, pp p (, x ), w . I p p , . I’ b ’ .I ’ , pp, p p .

I , w p ( ) p’ . A p

p p p, p ; p xp, w p, w b () 20- .

A w p ,

p p w p p w pb b. P pb b. I w,

p p w p w p , p xp p w w p . I , j p

xp w p .

I , b p. A p, w w p even i he is still alive . Nw b 121 .F xp, p p $1 b w p w’ 25. S p

pp, p p, b . U, w p 121 , p

$1 . (Ip b , p w p “ b” w.)

Nw w w w p xp p w b. A

: T p p p. H p xB xp, , p p. H w p , xp .

I ,



M a y 2 0 1 1 L M R

WHY IBC WO

buy p w b. T p’ p w b w p , pbp. Hw, w

’ p, b equity pp. A pp w p ()30 , p p w p .

T w b . T

p j . I , p w w p p w p.Sp, cash surrender value w . T w w pp, .. w ’ w w w .

F w , (p ) xp b p w pp. A p, b b , b

p w 121. O , w pp, b p w, p b. T w p w

.

W w “b” b p, b “ ” p p, b “b” b b p w p. T “b ” , b p I w p .

Policy Loans

I b w p, p p p . A w p , b w p

p, w 121, w w () $1 .

F ’pp, , w p. S , p b w b. B xp b pA xp, w’ b pw

w , j p w.

W w p pp not “ ” p. R,



18 L M R M a y 2 0 1 1

WHY IBC WORKS

p w w , p. S p, w p ’ “” w p . R,

p.

T p pp , b pp w w p . p, p

p ’ “ ” p, b (p ) . I w, w pp , ’ b

b. R, b p .

A Matter o Liquidity

Nw w w -w w p , w

b p p liquid .

C w pp w p

$10,000 5%. Spp p , b w $10,500 T p b b .

D



M a y 2 0 1 1 L M R

WHY IBC WO

p ? N ( p w p p!).B w w p, p w w b. Spp

b w b $500,000. Nw, b p , b b ’ ww $489,500.

I , pp b, $10,000 w w b . I p , b w w. A

, w b w w. (T ’ pp w w- w p , b

wpb .)

A pb b b b, b

’ , p w w . (A , ’ p p. T ’ w bw , . T p

“pb” p p.)

F, b b p b , b selling . T b j pb, p w b w . (A , ’ “ p w p I p b w w .)

Conclusion

O w w p w p w, b w bb. T xp



20 L M R M a y 2 0 1 1

WHY IBC WORKS

— p — b . N w, bp, b b p

b p. T b, , j b b b .

M w p w

w w xp p. C L,N N, P C, I w xp S wp ’ N C. (F p://

www../.) W w p IBC ppp b, b w w’ xp . T

w b IBC w xb ’ p , b

F b: E F



U n f o r t u n at e ly, i t c a m e b a c k f r o m t h e d e a d .A n d n o w i t i s k i l l i n g t h e e c o n o m y.

L e a r n h o w t o p u t i t 6 f e e t u n d e r

o n c e m o r e !R E G I S T E R N O W: w w w . u s a t r u s t o n l i n e . c o m



22 L M R M a y 2 0 1 1

HE HEAR OF MESSYNOMICS - INERVIEW WIH JOHN PAPOLA

The hearT Of MessynOMicsa n i nTerviewwiTh

hayek -k eynes r apMasTer

JOhn papOla



M a y 2 0 1 1 L M R

HE HEAR OF MESSYNOMICS - INERVIEW WIH JOHN PAPO

John Papola is an award-winning producer/director inbroadcast entertainment and marketing. Along with Russ

Roberts, he created the phenomenal Hayek-Keynes rap videos “Fear the Boom and Bust” and “Fight o the Century,” available at h t t p : / / w w w . y o u t u b e . c o m / watch?v=d0nERFo-Sk and h t t p : / / w w w . y o u t u b e . c o m / watch?v=GQnarzmOc. Papolacurrently runs a production companyat http://www.emergentorder.com.

LaraMurphy Report:Hw b A ?

John Papola: I RP H H A pp. I 2007,

w p p w p b, b w

b H H’ b Economics in One Lesson. W , I b, w x. I , H bj b p A B C T (ABC). I j w

x “” . “” . P -. I p p b.M w pb w . W’

?

I w p b

b pb b b p wR P’ p . T , w - “w ” w b, . I

’ . I w “ I, pp b () “b Bp”(1.) pb w , w A w 4% b’

SF Fight of the Century: Keynes vs. Hayek Round Two b ES



24 L M R M a y 2 0 1 1


pp 25% b’ p pp. T’ I w . P , b .

S R P pp b p w. W 2008 b , b R P p b . H w

p w.S I b. I Bbp E wR Rb. T I M Rb M. F.

A . T b b w b.

LMR: T b: Hw w R Rb ( G MU) p p F H J M K?!

JP: E, R’ p,b

w w .(2.) R p b pp w p w w p w. I , .

W w 2008 p w w xp b pp AND p b b b p, I I j bFb p. I -R, I p w R w b ,

I w V x w w b A p T w . L, b. Wb b 2009 w, p “F



M a y 2 0 1 1 L M R


B B.”

L, w b, w p p w , “ b” p . W F C

. R I b

w , w x , w R j w p . T . N w p b, R ’ ( ), b j

b . I w .

F , “F C,” w w p w p p

K . H b wS b R Mp , p. I’ b b p ( w

pp) b “A” pj. I . T p x w p, E O(www..).

R w

2.3 w Yb.

SF Fear the Boom and Bust b ES



26 L M R M a y 2 0 1 1


LMR: F , w w p - p, b w pp w b? R w 2.3 w

Yb.

JP: W p , , b’ j w wx w ’ w. W I b w b . I’ p

- p w p b b , w w L p J M. O w ,“ ” ’x . S “I w ” “I w bx f .”O . T’ , . S w pp p . T ’ p j. W w . T w I w .

“F C” p b , w I . I’ p w, . I p . Y w’

p-/ w. I , p x.

O I p w w w K K, p “F B B.” W’ pb w , , w

pp p w T p w p B p b NPR, xp. I’ p

. I pp p w b p. W pp b, xpp pp’ w, , p ?(3.) I pp ’ .



M a y 2 0 1 1 L M R


B p b NPR...

W p K ’p “F C,” w “,”b I ’ j

. I b p K pp “G” () b w, x. W’ J B

“D D: p L K” w . I ’ . G “ K p” w p

p, K. K pp w p p . T’

p w w w x“” .

LMR: J p Fb, b - p w F b-b I bA ’ b w b A b , b ww?

JP: A b?! x b , ’b w. W , V w ? I ’ x w

p b p. p I b p .

, I pp xp I . L



28 L M R M a y 2 0 1 1


b b wpp A w .

A “-” , I’ b p p w p p . W J w w :, . S, w pp

, b ’ .

T b b b b, w b b p . I “.” T’ w

. S I p pw,p p b M Rb, w b A p I . I pb / . I

p b

I b “” .

A, I w A

pp ( AA p). Y, T pb. J M C C, Bw H, M, w p DEA SWA b w (’ ) w

x pp wpp. A p j b p p b. I’ p T’ A I w .

S , w b x b. B p b w ’ b p b pp .

I b L , M Rb b . I b pp , b wp w b . Pp w



M a y 2 0 1 1 L M R


. A w ’ w x p w, p w w j pp. T, I’ w xp

b b. W w b j.

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b pb? W b w ,b b jb .

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MAGNIFIER w p, . T pwp R P . I’ p w w “f.” I p , I Rb .

H’ S w, I ’ b w p.

S . Ep . Sw . A , . T ’ p, ,I , ’ b w, IS b. I’ b b

pw, j p j p , b .

O p , I b w. L H’. I b pp px w w . T H I

“A” b .

A pp p w. M p “ xp “f p, I , C

P h o t o r o m F l i c k r b y : W a r r e n P

e a r c e



30 L M R M a y 2 0 1 1


S. I ’ w j w w . B w A

pp. I’ pp K pp w. [P] S ’ . S.

Pp w pp.

T b bj w b . T p b

p w x x. T w p I pp j p . A,

, “.” I JS’ p w A “ pp.” T w . S P B w . I b .

A ’ pbb p. A I’ w pp ,

I’ b w . I p . I’ p I A S C 2010. I w Rb F H

S B W G Mp H S … T xp . T b . B ’ w p w

w pb .

he Heart O MessynomicsBbp

1. E’ : “B Bp” b B Y w p pb w p-p b b p .2. p://www../3. A P K A b . S: p://www..//9593/.

J A S C 2010



2011

july 14-16 • Las vegas, Nevada Mp L P: P B S “FF”

JULY 22-23 • nashville, tennessee

NIGH OF CLARIY A - Aw J’ b

REGISER ONLINE...http://www.usatrustonline.com

OCTOBER 6 • BEAVER, PENNSYLVANIA L Mp p P B S 1 C, I.

Some events may be closed to genera

For more information email LMRevents@usatrustonl



32 L M R M a y 2 0 1 1

Private Jet?maybe...

Private Beach?one day...

Private Bank? YES!

What you do with your money should be youown business. Take the time to know how

you can become a privatized banker o youmoney and create a platorm or inancia

success you don’t oten (actually never) hea

about rom the “experts” on cable news andradio. You are going to make a difference

for your family for generations if you create

d i t i i t b k P i t

P R I V AT I Z E D B A N K I N G

Documents

May Issue Larr-Murphy Report (LMR)