In The News Today

Posted at 3:22 PM (CST) by & filed under In The News.

Lawsuit By Sandy Hook Victims Against Gun Manufacturer Allowed To Move Forward
March 14, 2019

After months of silence, the Connecticut Supreme Court on Thursday reinstated a wrongful death lawsuit filed by the families of nine victims of the Sandy Hook Elementary School shooting against Remington Arms, the manufacturer of the rifle used in the shooting.

The court’s narrow decision, overturning a lower court judge, rules that Remington can be sued over its marketing practices under a Connecticut state law, despite protections offered to gun manufacturers by federal law. The ruling sends the case back to the lower court.

The suit is a high-stakes challenge to gun companies, which have rarely been held liable for crimes committed with their products, and could mark a new front in the battle over gun regulations and corporate accountability. It centers on the Protection of Lawful Commerce in Arms Act (PLCAA), a 2005 law that shields manufacturers and retailers from civil liability in lawsuits brought by victims of gun violence. An eventual ruling against Remington could establish legal precedent, opening doors for more lawsuits against gun manufacturers, and expose the company’s communications about its marketing plans.

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Bill Holter’s Commentary

Sunday reading.

Why Gold Is Still The Best Basis For Money
March 16, 2019

As we continue to enjoy the “Yellen gold standard,” now in its Powell phase — who knows how long it will last — let’s look at why the gold standard system worked so well for so many centuries, including nearly two centuries of U.S. history before the rupture in 1971, during which time the United States became the wealthiest country in the history of world.

In 1971, the economist Arthur Laffer — he was the chief economist of the Office of Management and Budget at the time — was asked what he thought the consequences would be of Nixon’s “closing of the gold window,” which effectively ended the Bretton Woods period when the dollar’s value was fixed at $35/ounce of gold.

“It won’t be as much fun to be an American anymore,” Laffer reportedly replied. And he was right.

But why? Why is it that the collective intelligence (let’s be generous) of today’s central bankers, and indeed all the central bankers since 1971, cannot outperform a yellow rock? This probably strikes some as bizarre, but it has always been thus. Way back in 1928, in a book called The Intelligent Woman’s Guide to Socialism and Capitalism, George Bernard Shaw declared:

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