Murray Rothbard addressed the strange greed-causes-the-business-cycle “theory” in several places, always with the same straightforward question: Why should we believe that greed waxes and wanes in rhythm with booms and busts? You can’t take a constant human vice (assuming you can define greed precisely and consistently enough to call it a human vice) and use it to explain anything cyclical.

What’s frustrating about so many of these (generally left-wing) accounts of the “ugly engine of capitalism” is that they are not entirely wrong — not even mostly wrong. In fact, they’re mostly right, except for the all-important fact that a vague and emotional concept of “capitalism” (or even “the free market”) is blamed for the ill effects of the very same politically privileged system that advocates of free-market capitalism so strongly oppose.

To quote Tom DiLorenzo again, leftists are “constitutionally unable to distinguish between free enterprise and special privilege” (How Capitalism Saved America, p. 45).

Via Vanguardist:

Dear Liberty Dollar Supporters:

I sincerely regret to inform you that about 8:00 this morning a dozen FBI and Secret Service agents raided the Liberty Dollar office in Evansville.

For approximately six hours they took all the gold, all the silver, all the platinum and almost two tons of Ron Paul Dollars that where just delivered last Friday. They also took all the files, all the computers and froze our bank accounts.

We have no money. We have no products. We have no records to even know what was ordered or what you are owed. We have nothing but the will to push forward and overcome this massive assault on our liberty and our right to have real money as defined by the US Constitution. We should not to be defrauded by the fake government money.

But to make matters worse, all the gold and silver that backs up the paper certificates and digital currency held in the vault at Sunshine Mint has also been confiscated. Even the dies for mint the Gold and Silver Libertys have been taken.

This in spite of the fact that Edmond C. Moy, the Director of the Mint, acknowledged in a letter to a US Senator that the paper certificates did not violate Section 486 and were not illegal. But the FBI and Services took all the paper currency too.

The possibility of such action was the reason the Liberty Dollar was designed so that the vast majority of the money was in specie form and in the people’s hands. Of the $20 million Liberty Dollars, only about a million is in paper or digital form.

I regret that if you are due an order. It may be some time until it will be filled… if ever… it now all depends on our actions.

Everyone who has an unfulfilled order or has digital or paper currency should band together for a class action suit and demand redemption. We cannot allow the government to steal our money! Please don’t let this happen!!! Many of you read the articles quoting the government and Federal Reserve officials that the Liberty Dollar was legal. You did nothing wrong. You are legally entitled to your property. Let us use this terrible act to band together and further our goal – to return America to a value based currency.

Please forward this important Alert… so everyone who possess or use the Liberty Dollar is aware of the situation.

Please click HERE to sign up for the class action lawsuit and get your property back!

Thanks again for your support at this darkest time as the damn government and their dollar sinks to a new low.

Bernard von NotHaus

Monetary Architect