The federal government is constantly out of money and always needs more. It resembles the cartoon character “Wimpy,” a friend of Popeye. Wimpy is a mooch and scam artist. He was always out of cash, but his voracious appetite for hamburgers forced him to ask all – “I’ll gladly pay you Tuesday for a hamburger today.” The federal government constantly asks taxpayers, “I’ll gladly properly manage your money on Tuesday for more taxpayer money today.” The proper management of taxpayer monies never happens; only more promises from our politicians to reform their government mismanagement.

The federal government is very blase about its $35 trillion national debt, and Congress uses its annual budget games to hide unnecessary expenditures in the proverbial weeds. The federal government’s budget is a camouflage to hide its financial condition – it is de facto bankrupt. Its adversaries and the BRICS (Brazil, Russia, India, China, and South Africa) understand the federal government’s financial stress more than American politicians. The BRICS  are attempting to create a competing reserve currency and eventually replace the dollar as the world’s reserve currency. If this ever happens, the U.S. will rapidly sink into second-class status.

Since 2000, the dollar has declined in use and acceptance as the world’s reserve currency from 71% to 60%. The more the federal government uses the dollar to punish foreign adversaries for policies the U.S. dislikes, the more nations seek to displace the dollar to protect their own currencies.

It’s now time for American citizens to focus on this financial disaster facing this nation before it drifts into a financial crisis our government cannot easily fix. The BRICS know the U.S. lives on borrowed time, sustained only by its printing press and a large supply of paper and ink.

A book exposing the perils of the federal government’s fiscal health is written annually but rarely read. If the federal government and Congress won’t read it, it is time for citizens to read it and start taking control of their country.

The book  is titled “The Financial Report of the United States Government” or the “Financial Report.” While federal government agencies prepare their chapters, the significant aspect of the report is that the composite report is audited by the General Accounting Office (“GAO”), an independent arm of Congress. It is not a regurgitation of the budget, focusing on deficits, surpluses, and debt. The Financial Report focuses on the government’s net operating costs, i.e., the differences between real revenues and real costs.

How broke is the federal government? In its latest report (2022), the gross cost of the federal government was $ 7.4 trillion. While it collected $4.9 trillion in taxes, the actual net cost of government is $9.1 trillion since it must recognize an additional future expense of $2.2 trillion, which it incurred by underestimating the cost of employee and veterans’ benefits. Fortunately for the federal government, since it will not have to pay the employee and veterans benefits immediately, accounting standards allow it to show a deficit of only $1.37 trillion for 2022.

What is the value of all the federal government assets? On the asset side of the ledger, the federal government has only $4.962 trillion in assets. This amount consists of $878 billion in cash, inventory valued at $407 billion, and $1.2 trillion in property, plant, and equipment. Its largest asset is “Loan Receivable, Net,” valued at $1.434 trillion. Of that amount, $1.3 trillion is the Federal Student Loan program that President Biden wants to forgive, an act that would immediately reduce federal assets to $3.62 trillion.

What is the bottom line? After GAO makes all adjustments, total federal assets are $5 trillion, and total liabilities are $40 trillion. The federal government is in the hole for $35 trillion. Moreover, the GAO report does not consider, for audit purposes, any unfunded liabilities for Social Security and Medicare, which are estimated at $76 trillion.

If most families live paycheck to paycheck, the federal government lives from every withholding tax payment to the next. If the average American family has difficulty paying the bills, they should be terrified that for every U.S. citizen, including infants, their share of the national debt is $100,000. For families, their share is over $250,000. At some point, Mr. and Mrs. America and the kids must realize the government is penniless. It is borrowing from our children so it can gorge itself today. The federal government, like Wimpy, is a “deadbeat,” a person or entity “that is not willing to pay debts or accept responsibility.”

Every time the federal government takes money out of a paycheck for its wastefulness, it tells the taxpayer, “I’ll gladly pay you on Tuesday for your hard-earned money today.”

William L. Kovacs, author of Devolution of Power: Rolling Back the Federal State to Preserve the Republic. The book received 5 stars from Readers’ Favorite. His previous book, Reform the Kakistocracy, received the 2021 Independent Press Award for Political/Social Change. He served as senior vice president for the U.S. Chamber of Commerce and chief counsel to a congressional committee. He can be contacted at wlk@ReformTheKakistocracy.com

William L. Kovacs author of Devolution of Power: Rolling Back the Federal State to Preserve the Republic. Received 5-Stars from Readers’ Favorite. His previous book Reform the Kakistocracy received the 2021 Independent Press Award for Political/Social Change. He served as senior vice president for the U.S. Chamber of Commerce and chief counsel to a congressional committee. He can be contacted at wlk@ReformTheKakistocracy.com

The post How Broke Is the Federal Government? It’s Penniless! appeared first on The Libertarian Republic.

The specific claim that “Tariffs were raised” is False. This likely comes from confusion between the varying definitions of a Tariff. 

The statement made by AF Post and their use of tariff reads as if this were a tax being raised on Energy (specifically in sense of being a tax on goods that is originating from a foreign nation). Many who have interacted with the post have done so under this incorrect belief.

In regards to Energy specifically, a tariff is a rule or set of rules that govern Energy rates. In this definition of tariff, there are varying ways rates are charged depending on if you are a residence or a business (and even depending on how large of a business you are). Some rules amongst utilities may even charge different rates based on tiers of usage, or even time of day (peak hours). These rules on what rate to charge under which circumstance is called a tariff.

The article in Spanish shared by the AF Post from Argentinian news source TN was also using the Energy definition of a tariff.

What Javier Milei did was remove a subsidy that had been artificially lowering the energy rate for Argentinians who will now be paying the market rate. This was not an increase in the rate, or an “increase in the tariff (tax)” but rather a change in the tariff (rule) that eliminated the subsidy. 

Eliminating subsidies is a popular position amongst libertarians.

The post FACT CHECK: Did Javier Milei Raise Tariffs on Energy? appeared first on The Libertarian Republic.

A noticeable issue with recent US Libertarian presidential candidates is their lack of dynamism. There seems to be a lack of compilation clips showcasing Jo Jorgensen or Gary Johnson’s noteworthy moments or victories in debates. In stark contrast, Javier Milei embodies the Argentinian libertarian version of Ben Shapiro, masterfully dismantling Keynesians and socialists in debates. Consider having two candidates who share your favored policies — would you choose the one who excels in debates, the individual brimming with energy? Or would you opt for the less engaging, more boring candidate?

A shift in the approach to debates is imperative for libertarian candidates. Instead of pleading for inclusion in national debates, they must proactively engage in televised discussions with proponents of opposing ideologies. Such debates not only provide a platform for presenting libertarian principles to a wider audience but also showcase the strength of the ideas in direct comparison with alternatives. Engaging in dialogues with supporters of other candidates demonstrates confidence and competence, while also dismantling misconceptions about libertarianism. By embracing this strategy, libertarian candidates can step out of the shadows and become formidable contenders in the realm of public discourse.

Another distinction setting Javier Milei apart from recent US libertarian presidential candidates lies in his clarity of campaign themes and issues. Gary Johnson’s campaign, for instance, was built on the premise of being neither Trump nor Hillary. Although a resonant theme, Johnson’s own gaffes undermined his message. From not knowing what Aleppo was to questionable behavior on television, his effectiveness was hindered. For example, he stuck his tongue on TV while giving a response to an interviewer. When asked on tv to endorse a political figure in the world he named Shimon Peres which recently passed at the time, so the interviewer asked him to name one alive and he couldn’t. He had forgotten Vicente Fox’s name and Bill Weld saved him by naming him and named Angela Merkel. All those responses are Keynesians and neoliberals, a far cry from libertarian ideals. And Bill Weld literally said he “vouches for Hillary Clinton”.

In 2020, medical freedom, criminal justice reform, and gun rights emerged as significant issues due to the activism surrounding them. Unfortunately, Jo Jorgensen failed to effectively champion these causes. Gun rights militias were on the rise like the NFAC and Boogaloo Bois and the biggest progun rally in US which took place in Virginia of 2020 yet she didn’t take the momentum. The legacy of the party’s opposition to the war on drugs and police militarization since its inception in 1971 was scarcely highlighted.

While criminal justice reform was discussed, Jorgensen’s endorsement of the BLM movement conflicted with many libertarian values. Tthe majority of their activists voted and donated to democrats like Joe Biden and Kamala Harris, who have a huge history of being anti criminal justice reform, they also promoted the destruction of private property and private businesses. Of course it drew considerable criticism and division in the party. Medical freedom wasn’t even an issue on the main page of the website campaign.

Javier Milei’s predictive insights also set him apart with his “A-ha moments” or “I told you so” moments. He accurately forewarned about certain policies and their consequential outcomes, such as those related to the central bank, inflation, and monetary policy. This capacity to anticipate and explain consequences echoes figures like Ron Paul in his warnings about the war on drugs and US foreign policy. To truly impact change, we need candidates who can prophesize potential pitfalls.

Lastly, the power of thematic repetition plays a significant role in Milei’s success. His supporters can recite his theme of what libertarianism is in unison, creating a strong sense of unity and identity. This tactic could be mirrored within the libertarian movement by emphasizing core principles like the “Non-Aggression Principle,” influential works such as “I, Pencil” by Milton Friedman, The US Constitution and even satirical pieces like “National Anthem of Libertaria” by Dominic Frisby, parody of the Soviet Union anthem. This strategy fosters group cohesion around shared ideals, distinguishing libertarians from others.

In conclusion, the triumph of Javier Milei and the Argentine Libertary Forward party underscores the potency of effective campaigning. It proves that Libertarians can win when we campaign the right way. The contrasting elements between his success and the challenges faced by recent US libertarian candidates illuminate vital lessons for the movement. Whether through compelling debates, clear issue identification, foresight, or thematic unity, there are opportunities to elevate libertarian ideals and secure success on a broader scale.

The post Javier Milei and the Libertarian Victory in Argentina: Lessons for American Libertarians appeared first on The Libertarian Republic.

Exploring the Common Mistakes that Break Trading Discipline

The allure of online trading often tempts individuals with the promise of quick profits. However, maintaining trading discipline is essential for success in this fast-paced arena. In this article, we will delve into some of the most prevalent mistakes that disrupt trading discipline and discuss ways to avoid them.

The Allure of Emotional Trading

Emotional Decisions

One of the most common pitfalls in the world of trading is allowing emotions to drive trading decisions. Emotions like greed, fear, and FOMO (Fear of Missing Out) can lead traders to make impulsive choices that often result in significant losses. To circumvent this issue, traders should rely on well-considered strategies and establish clear entry and exit points based on analysis rather than emotional impulses.

Using Limit Orders

A valuable tool to prevent emotional trading is the use of limit orders. Traders can place buy and sell orders at predetermined prices, ensuring they adhere to their planned strategies even in the face of market volatility. By doing so, they can minimize emotional reactions to price fluctuations and maintain their trading discipline.

Overtrading: The Pitfall of Impatience

Impulsive Trading

Impatience can lead traders to overtrade, which is a common mistake that can quickly deplete their capital. Overtrading occurs when traders execute too many trades, often in response to minor price fluctuations. To avoid this trap, traders should establish a clear trading plan with specific goals and only execute trades that align with their strategy.

Setting Trade Limits

To prevent overtrading, traders can implement daily or weekly trade limits. These limits restrict the number of trades executed within a specified time frame, helping traders maintain discipline and avoid impulsive decisions. Setting such limits is a proactive measure to stay within predefined boundaries.

Ignoring Risk Management

Risk Assessment

Another common mistake among traders is the failure to manage risk effectively. Insufficient risk management exposes traders to significant losses that can have a profound impact on their portfolios. To mitigate this risk, traders should assess the potential risk associated with each trade and set stop-loss orders to limit potential losses.

Diversifying the Portfolio

Diversification plays a pivotal role in risk management. Traders should avoid concentrating all their capital on a single asset or market. Instead, they should diversify their portfolio across different assets, thereby reducing the impact of losses in any one area. Diversification is a prudent strategy to safeguard investments.

Lack of Proper Research

Inadequate Research

Inadequate research can lead to impulsive decisions and financial losses. It is imperative that traders thoroughly research the assets they intend to trade, stay updated on market news, and analyze historical data. Insufficient research can result in uninformed choices that undermine trading discipline.

Utilizing Trading Tools

Leveraging Trading Tools

To assist traders in conducting research and making informed decisions, various trading tools are available. These tools include technical analysis charts, market indicators, and real-time data feeds. Utilizing these resources empowers traders with the information they need to maintain trading discipline and make well-informed choices.

Chasing the Next Big Thing

Chasing Hype

The lure of quick profits can entice traders to chase after the latest trends and fads in the market. However, blindly following the crowd without proper analysis can lead to disappointment and losses. Traders should resist the temptation to chase hype and instead focus on their well-defined strategies.

Sticking to the Plan

To avoid chasing the next big thing, traders should stick to their trading plans and resist the urge to deviate from them. Online platform’s user-friendly platform and educational resources can assist traders in staying disciplined and making rational decisions, rather than being swayed by market hype.

Conclusion

Maintaining trading discipline is paramount for success in the world of online trading. By recognizing and avoiding common mistakes such as emotional trading, overtrading, neglecting risk management, inadequate research, and chasing hype, traders can increase their chances of achieving their financial goals. So, remember, discipline and strategic planning are the keys to long-term success in the exciting world of online trading.

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Congress needs to read “The Federal Spending Diet Book.”

The Federal Spending Diet Book

Reducing federal spending is about responsible governance, not Republican or Democrat power. There are relatively commonsense efforts to reduce the debt. Chapters 1 through 9 are the easy steps to reduce federal spending by a trillion dollars or more annually. Chapter 10 is for those serious dieters who want to “Make America Great Again.” It sets out a tax system that transforms a federal government from one of picking winners and losers to one that simply collects taxes to pay the necessary bills of the government.

If “[The] journey of a thousand miles begins with one step,” our federal government needs to start walking.

 Chapter 1: Do not fund laws that have not been authorized.

The easiest set of budget cuts would be to refrain from funding laws that Congress has not authorized. “In FY 2021 appropriations, the Congressional Budget Office identified 1,068 authorizations of appropriations, stemming from 274 laws, tolling $432 billion, that expired before the beginning of the fiscal year 2022.” Since House Rules prohibit such appropriations, it should be an easy savings of almost one-half trillion dollars.

Chapter 2: Review and vote on every expenditure of the Judgment Fund.

The Judgment Fund is the mother of all slush funds. It is a permanent, indefinite, and unlimited congressional appropriation continuously available to pay money judgments entered against the United States and settlements of cases in or likely to be in litigation with the United States. It is an indefinite appropriation, so secret that Congress no longer even debates what the amounts are for. The amounts are appropriated, no matter what the amount. The Department of the Treasury just pays the claims upon the receipt of the paperwork. This is the fund that President Obama used to deliver $1.7 billion in cash to Iran as a bribe to sign the Iran nuclear deal. Why should our government officials have billions in a secret fund to cover up illegal activity? Having Congress approve each judgment and settlement as it did before 1956, the U.S. could save taxpayers tens of billions of dollars.

Chapter 3:  Follow and implement GAO’s Generally Accepted Accounting Principles (“GAAP”).

Congress mandates GAO to perform a GAAP analysis of federal spending and assets and provide recommendations to ensure the financial reporting by an agency is transparent and consistent. Every member of Congress should read these reports on how our money is managed and should implement its findings.  One specific GAO recommendation is for the federal government to address the government-wide improper payments, estimated to be $175 billion.

Chapter 4: Government must operate only for a public purpose.

The issue of Congress giving away our money to private entities has been debated since the founding of the Republic. Opponents of giveaways argue taxpayer money can only be spent on matters enumerated in the Constitution. The government asserts it can spend taxpayer money on anything that promotes the general welfare. Continuing this debate is irrelevant since the courts have made it clear legislatures determine what the general welfare is. To address the excesses of gifts to private individuals, Congress should stop giving money to private parties, including tax credits for fancy automobiles, horse racing, NASCAR, and short-line railroads, and finally eliminate carried interest.

Chapter 5: Members of Congress and the President should imagine their conference tables are merely kitchen tables that invite a family discussion over finances.

The amount of information available to Congress for making smart debt reduction decisions is overwhelming. It is time Congress puts these materials to use. A simple way to approach this task would be for each congressional committee to rank each program within its jurisdiction in order of priority.  The budget and appropriation committees would work with the authorizing committees to ensure the highest-priority programs receive priority funding. The appropriation committees would work down the list until the revenue raised by taxes is expended. At that point, Congress would have to cease spending money on programs for which there is no longer any revenue, e.g., studies of shrimp on a treadmill, or admit to the taxpayers it wants to borrow money to fund programs of lesser value. This kitchen-table process of spending only up to revenues received could save hundreds of billions of wasted dollars.

Chapter 6: Re-constitute the Joint Committee on Reduction of Non-Essential Federal Expenditures, which existed from 1941 to 1974.

This committee was established after World War II to recommend ways to reduce a massive federal budget.  Its goal was to identify non-essential spending. While the committee was only a study committee, requiring its recommendations to be submitted to authorizing and appropriation committees, it had a major impact on budgeting in government. With the inability of Congress to control spending or the states to force a Balanced Budget amendment to the Constitution, an alternative would be to create a similar committee to make recommendations to Congress but require its recommendations be voted on by Congress. This process creates accountability.

Chapter 7: Enact a Base Realignment and Closure Commission (“BRAC”) that applies to general appropriations.

Due to political pressure to locate the military bases in numerous congressional districts, the U.S. constructed an excess of bases but could not close unneeded ones. To address the situation, Congress established BRAC, giving the Commission power to identify unnecessary bases and to send recommendations to Congress. The key to BRAC’s recommendations to Congress is that they became law unless Congress passed a Resolution of Disapproval and the President signed it. Using the BRAC structure, Congress could apply the same concept to all recommended reductions as a means of reducing political support for unneeded programs.

Chapter 8: Establish a Budget & Waste Reduction Director in every agency to identify unnecessary expenditures.

Federal agencies have recycling and permit streamlining directors to help implement certain laws. Due to massive budget deficits, there should be a similar position to identify ways an agency can eliminate unneeded programs. The person should report directly to the head of the agency. All reports must be addressed by the head of the agency, and reasons for “No Action” must be publicly justified. Each director would recommend a 10% reduction in agency expenditures. Give the director a big bonus for meeting the target.

Chapter 9. The federal government needs to seriously re-think the massive subsidies it gives to private parties to buy green products.

In the recently enacted “Inflation Reduction Act,” Congress authorized $370 billion in new tax credits for corporations and individuals if they purchase green energy products or build green energy facilities. The tax credits are to boost sales of electric vehicles, the installation of rooftop solar panels, the development of solar power systems, heat pumps, water heaters, space heating, electric stoves, circuit breaker boxes, additional home insulation, and exterior windows, to name a few private beneficiaries. This is in addition to federal regulations imposing energy efficiency requirements on at least sixty products and $577 billion in tax credits and grants for green energy projects since 2004.

The IRA was passed only a week after Congress authorized $280 billion to incentivize the semiconductor industry to build plants in the U.S. The semiconductor industry is a very profitable $573 billion industry that is expected to grow to $1.4 trillion by 2029 due to high demand for its products.

Chapter 10: Enact a fair, simple tax code that raises money to operate the government rather than legislating personal behavior.

For those in Congress and presidents serious about the future of the United States, its time for Congress to stop using the tax code to pick winners and losers and to let the market allocate the goods and services wanted by consumers.

This simple solution is to repeal the 8-million-word tax code and replace it with the 1913- four-page Form 1040. Few deductions and low rates, but requiring everyone to pay some tax, including the wealthiest. Another benefit of this simple approach is it captures a greater amount of tax owed by closing the Tax Gap.  The IRS defines the tax gap as the difference between true taxes owed for a given tax year and the amount that is paid. The gap is caused by the under-reporting of income, non-filing, and tax evasion. While the exact amount is unknown, the IRS estimates it to range from $574 to $700 billion annually. A complex tax code invites under-reporting and manipulation, whereas a simple tax code fosters greater participation and prevents large-scale manipulation encouraged by complexity.

Starting a diet requires acknowledgment of being overweight and the desire to lose weight. The same is true with overspending. It cannot continue for the health of the nation. If overspending continues, the long-term consequences will be extremely harmful to the nation, especially future generations. While not every step in the diet book needs to be followed, if, however, the federal government implements four or five of the steps, it is guaranteed to reduce spending by a trillion dollars.

The post Shrink Your Bloated Government With This One Easy Trick appeared first on The Libertarian Republic.

Inflation refers to the general increase in the prices of goods and services over time. It is a common economic phenomenon that can have significant and far-reaching consequences.

Inflation Acts as a Tax on Consumers

When prices rise, the same amount of money can buy fewer goods and services. This reduction in purchasing power is similar to a tax because it effectively reduces the amount of disposable income that consumers have available to spend or invest.

Inflation Acts as a Tax on Investors and Savers

When inflation is high, the returns on investments and savings may not keep pace with the rising cost of living. This means that the investor is effectively paying a tax on their investment, as they are losing purchasing power due to inflation.

Inflation Acts as a Tax on Debtors and Creditors

Inflation reduces the real value of debt over time, meaning that borrowers can repay their loans with currency that is worth less than when they borrowed it. Conversely, creditors may receive loan payments that are worth less than when the loan was issued. Therefore, inflation can act as a tax on both debtors and creditors as it alters the real value of their financial obligations.

Inflation Affects Government Revenue and Spending

When prices rise, tax revenue increases, as taxes are typically based on the value of goods and services. This can lead to increased government spending, which can in turn fuel further inflation. In this sense, inflation can be seen as a self-reinforcing cycle that ultimately acts as a tax on the entire economy.

Conclusion

Inflation is often considered a tax because it reduces the purchasing power of currency, acts as a hidden tax on consumers and investors, affects debtors and creditors, and impacts government revenue and spending. It is essential to be aware of its implications and potential consequences so that we can make informed financial decisions and plan for a more secure financial future.

The post Inflation: The Hidden Tax That’s Costing You More Than You Think appeared first on The Libertarian Republic.

The first order of business for the House of Representatives was to pass another law making it harder to fire federal employees—who already literally have job protection for life. Next, the two-million-person federal government workforce wants to be paid, but it does not want to return to the office after the two years of “pandemic pajama living.”  The pandemic allowed many in the bureaucracy to work remotely. These bureaucrats—with literal jobs for life—now want the right to work at home as a permanent legal right. Congress should recognize that the workplace has changed and that work can be performed from anywhere.

There is another part of this reality, however—no one person, not even federal workers, should have a guaranteed job for life. It is time for Congress to reorganize the entire civil service. It’s time for bureaucrats to be accountable. Since the federal workforce wants to reorganize the government so they can work in pajamas, Congress should reorganize the Civil Service by imposing “Term Limits for Bureaucrats.”

The bureaucrats argue working from home reduces traffic congestion and allows GSA to downsize office space between 20% to 50% of post-pandemic levels while reducing greenhouse gases. Moreover, workers argue it saves energy, increases worker productivity by having fewer distractions, and opens up the nationwide talent pool to government recruitment. All resulting in greater diversity, inclusion, and equity. One study found that “remote work is now the status quo for much of the federal government.” The same study noted “… 6 in 10 [workers] would take a pay cut” if allowed to work from home.

The studies on remote work open the door for Congress to reorganize the bureaucracy for the next century. Since the existing system is based on the Pendleton Act of 1883 and the Civil Service Reform Act of 1978, it is in serious need of reform if it is to function efficiently in a more complex society. Today’s civil service has literal lifetime appointments. Federal employees are fired at the rate of 0.55%—a rate so low that deaths outnumber firings. Two significant agencies had zero firings.

In addition to job security, the Congressional Budget Office found that pay and benefits for bureaucrats are 47% more than the combined pay and benefits in the private sector. A Cato Institute study put the number at 80% more than the private sector. The average federal worker receives $123,160 in pay and benefits compared to $69,901 in the private sector.

The fact that bureaucrats and their unions want to change where and how government employees work opens the door for Congress to rid itself of a fossilized civil service system. Achieving a successful transition of the federal workplace will require opening the civil service to the new talent spread around the nation.

How does Congress achieve this reorganization?

Unfortunately, when it comes to bureaucrats, the US Supreme Court ruled that they can only be dismissed from federal employment after a trial-type hearing. This ruling makes discharging a bureaucrat almost impossible. It leaves two million civil servants to control the spin in the information given to elected officials. In foreign affairs, these bureaucrats replace the President’s policy with policies adopted by interagency working groups. They write the hundreds of thousands of regulations few of us read but control our lives. Bureaucrats determine who of us acts lawfully or unlawfully.

These “lifers” fundamentally change the role of the President. Article II requires the President to execute the laws of the U.S., yet the President controls only 4000 appointments out of 2 million positions. 99.8% percent of the bureaucracy beats to its own drummer, and the Supreme Court protects its music. Many of these highly paid elites believe “the public knows little or nothing” about issues facing the nation.

Over time, the public lost trust in the government. In 1958, almost 75% of Americans trusted the government. In 2022, only 20% of Americans trust the government.

The worst part of the bureaucracy is that it hides behind statistically flawed, faux evaluations which give  99.5% of the 2 million federal employees a “fully successful” rating or above. Of the 2 million bureaucrats, only 0.1% received unacceptable ratings. The cost of these federal bureaucrats is a massive $66 million per hour. It is truly amazing how many “geniuses” can be hired to run a government that has a $30 trillion national debt.

The Solution: Term Limits for bureaucrats

If Congress is to reorganize the bureaucracy, it must place term limits on bureaucrats; perhaps eight years of service. Term limits would have three major benefits for our country. First, it would break bureaucratic control of government by eliminating the power imbalance between elected officials whose service can regularly be limited by citizens and an unaccountable bureaucracy that can hold jobs for life. Second, with term limits, a greater number of Americans will be able to serve their country and reap the rewards of a federal job. Finally, term limits would reduce the number of bureaucrats qualifying for massive federal pension and health benefits, which Moody’s estimates, for now, represents a $3.5 trillion unfunded liability.

The social and economic benefits of term limits on bureaucrats

With open positions, the federal government can hire talent on basis of ability, knowledge, and skills from every part of the country. These new employees could even be located in rural and low-income areas that presently have few federal workers. One study estimated that 20% of federal positions (approximately 400,000 jobs) could be done effectively anywhere in the U.S. The study also finds that a more distributed workforce can combat “widening geographic inequality.”

As work is created in economically depressed areas, it will generate economic opportunities for these areas by attracting other professionals wanting to provide services to the federal operations located there. By working in lower-cost areas, the federal government can reduce its cost-of-living adjustments from 30.5% in high-cost areas like Washington, DC to 16% in most of the US. While the federal government saves money, so does the employee who lives in low-cost areas.

More importantly, with federal employees spread throughout the United States, the federal government will be closer to the governed. Citizens in every part of the country will be able to interact with federal employees and understand them better. Moreover, by being distributed over 50 states, the federal employees will learn about the needs of Americans in fly-over country and state and local government. Over time, this should help restore trust in government.

The lifers in the federal bureaucracy certainly have taken “advantage of the pandemic. Unfortunately, the only thing those managing the federal workforce know about its workers is where to send the paycheck. To integrate the federal government into the nation, Congress needs to reorganize the federal workforce.

The starting point to reorganizing the massive federal workforce is term limits on bureaucrats.

The post Integrate Feds into the Nation: Term Limits for Bureaucrats appeared first on The Libertarian Republic.

It is usable in such a variety of things that nowadays, start-up companies are also trying to use the Ethereum network. But why are they doing so? Well, the reasons are nothing else but the benefits that Ethereum can deliver to start-up companies, and no other technology can do so. Therefore, if you are also willing to start your own company soon, you must know why you should use the Ethereum network.

There are not only a few but a variety of reasons why the companies which are start-ups are using the Ethereum network, and a few of the prominent ones among them are given below.

Data coordination

Today, whenever a new start-up company is launched at a vast scale, it has multiple departments. To make sure that the company keeps flourishing smoothly, every department needs to coordinate with another. Therefore, to make sure that this happens, the Ethereum network is brought into use. Through the Ethereum network, data coordination can be ensured by the company, decreasing any error possibilities.

Rapid deployment

Deployment of the actions and the commands given from the top level is crucial and must be done in real-time. However, traditional technology is not going to do any such thing. It will take its time, and then only it will make sure that the data is transferred to the lower level. But, for the companies which are new start-ups, it is crucial to do this kind of thing at a faster speed, and it can be initiated using the Ethereum technology. With the help of the Ethereum network, rapid deployment of the data is possible, and also, the commands are given at a faster speed, making it suitable for start-ups.

Permissioned network

It is not necessary that every Blockchain network has to be completely open for everyone. There is sometimes a requirement for different levels and permissions in the business organization. If you are starting up a new business and want to ensure the different levels have different amounts of authority and responsibility, you can use the Ethereum network. By using Ethereum, you can ensure that only a certain level will have complete freedom of their actions while the others will be regulated according to your command.

Network size

According to the experts who have already worked on the Ethereum network, The Ethereum network is the only one that allows hundreds of notes and millions of users to perform tasks at a single point in time. It is all because of the extensive network size of the Ethereum network. It is available and vast for every level of the enterprise and, therefore, very suitable for the new business companies established recently.

Scalability and performance

The performance of the Blockchain provided by Ethereum is also essential because it is a crucial part of start-ups nowadays. You might have seen that multiple companies are being set up everywhere, requiring a lot of scalabilities and good performance to flourish. Therefore, to provide the public with the best level of authority and responsibility, performance must be ensured, and the Ethereum network provides that. Moreover, scalability issues are also resolved using Ethereum, which is very suitable for start-up companies.

Finality

To confirm a transaction, a proof of work algorithm has to be implied in the transaction records. However, it needs to be tamperproof, and if the proof of work is not employed, it will be vulnerable to hackers. However, using the RAFT and IBFT technology of the Ethereum network ensures that the proof of network requirements is eliminated. By doing so, time is saved, and the finality of a particular transaction is confirmed.

Incentive layer

Reward and punishment mechanisms are also employed in business organizations that work according to ethics. So, if you are willing to run a business organization where ethics are the topmost priority, you would also like to set up reward and punishment mechanisms. The Ethereum Blockchain network provides an appropriate ecosystem where this kind of incentive level can be employed quickly. Moreover, they can take place automatically, and the verification capacity of the network is much higher, making it much more effective.

Interoperability

Interoperability of a particular data set has to be ensured in the new organization if it has multiple departments. If the Blockchain network of the company does not provide this, perhaps it will not flourish. So, the Ethereum network will provide interoperability where multiple heads can take control of the data. Of course, it has to be permissioned, and everything will be sophisticated for the new business.

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What is an Initial Coin Offering?

Startups use an ICO as an alternative to venture capital funding. Some say that an ICO is like crowdfunding with a cryptocurrency twist, allowing investors to buy tokens instead of shares in the company. The term “token sale” has also been used to refer to ICOs because they often involve the issuance of digital tokens or coins as part of the crowd sale offers. It makes them similar to stock offerings and other securities-based crowdfunding (or p2p lending) that have recently become popular among startups.

The Benefits of a Cryptocurrency Initial Coin Offering

For startups, an ICO can be a great way to raise funds quickly and with low barriers to entry. Compared to traditional equity financing, where companies have to go through the lengthy process of getting regulatory approval and dealing with investment banks, issuers can issue their cryptocurrency tokens on the blockchain and get their funding.

Disrupting Venture Capital with the ICO

Traditional venture capital (VC) financing has been the de facto method for raising money to launch new businesses and expand existing ones. The VC model usually involves a small group of angel investors or venture capitalists investing significant amounts of capital into a company at an early stage for a minority stake in that company. In exchange for their investment, these investors get preferential terms regarding profit sharing, voting rights, etc. The ICO model bears many similarities with the VC model but differs in two important ways:

• The amount raised is much smaller than what you would raise through traditional VCs
• There are no guarantees about getting any payout back

The Risks of Investing in ICOs

There are risks involved with investing in ICOs, and you should be prepared to lose your money. In an ICO, you are investing in a company that doesn’t exist yet. The company is offering “tokens” that represent a certain amount of the value of whatever product it will eventually provide on its platform. You are essentially paying for future services rendered by this company based on what they hope to become rather than how well they have performed up until now. 

So many people are interested in participating in ICOs because the value of these tokens has gone up tremendously since their initial release date, sometimes even after the token sale was over! As we saw recently with Filecoin’s $200 million token presale, there have been cases where investors bought into an ICO project at $0 per token and then watched as those same tokens hit $2-$3 within days.

However, there are also plenty of examples where projects have fallen flat right after their respective sales ended, like when Ethereum fell from around $23 billion at its peak valuation down to just above $200 million today despite being one of blockchain technology’s best-known cryptocurrencies since 2014

Get Your ICO White Paper Ready

If you’re ready to launch your ICO, the first step is to write a White Paper. This document aims to introduce the need for your startup’s product, explain how it solves that need, and detail what steps will be taken if the ICO succeeds. You’ll also want to include information about why you’re launching an ICO instead of seeking traditional venture capital funding or crowdfunding. Finally, have details about your founding team members. This helps investors get comfortable with who they’ll be working with if their investment pays off by earning them money down the road.

Final Words

It’s important to remember that the ICO market is still in its infancy. As with any investment, you should consider your options carefully before deciding whether or not an ICO is right for you. Many investors are still trading in cryptocurrency with bitcoin trading software. You can also trade in this software because it is efficient.

The post Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales appeared first on The Libertarian Republic.

We propose an alternative consensus mechanism to the Proof of Work (PoW) and Proof of Stake (PoS) protocols used today. Cryptocurrencies. Our flexible majority rules scheme allows users to vote on any number of voting rounds, with each round being a set period and threshold required for approval. The scheme aims to provide a better trade-off between total issuance times and fairness than existing PoS and PoW systems while maintaining security guarantees for both protocols.

Cryptocurrency rates are challenging to set. They must change them periodically to maintain their value, yet sudden changes can lead to mass confusion and loss of confidence in the currency. This article presents a new approach for setting rate changes that maintain the core value of cryptocurrency: decentralised consensus. The algorithm presented here shows how most stakeholders can come together and agree on a new rate for issuance without relying on any central authority or trusted third party.

Core Assumptions

Our goal here is to explore a consensus algorithm to issue a cryptocurrency. The assumption that we will make is that the currency is a digital currency. A form of money that exists entirely in digital form. Cryptocurrencies are decentralised, meaning there’s no single entity responsible for their issuance or maintenance; instead, they’re created and maintained by an open community of people using a consensus-based process.

This assumption means our protocol won’t work well if you want to create something other than a cryptocurrency. Such as an asset-backed token—so keep this limitation in mind as you read through the following sections!

Dynamic Majority Rules

The first approach we will take is to dynamically set the value of a cryptocurrency based on stakeholder voting. You can do this through two mechanisms:

• A majority vote by stakeholders will result in a fixed rate for the next period, at which time another vote you will take.
• Or, a majority of stakeholder votes may result in an algorithmically determined rate that is locked in until another majority is reached. 

Issuance Functions

An issuance function is a function that determines a new cryptocurrency. It determines the number of coins that are released at any given time, as well as their distribution. 

Dynamic Issuance Functions

The dynamic issuance function allows you to set the rate at which new coins are created. It also allows you to set the inflation rate, which is a constant increase in the number of existing coins.

On-Chain Voting

One way to solve the problem of having too many participants and not enough time to agree is to create a system that allows people to vote in real-time but still enables a majority of participants to vote. You can do this with “on-chain voting,” which means that every participant will be able to cast their vote directly on the blockchain itself.

Liveness Considerations

If most coin holders are offline, then they can’t participate in the vote. This would mean that the vote could never reach a consensus because it would always be impossible for the majority to communicate with each other. 

Final Words

We’ve proposed a mechanism for setting dynamic cryptocurrency prices based on on-chain voting. The key information is encoded in an issuance function, which determines how many coins are created at each block height. And a voting function, which determines the prices of those coins. You can use these functions to create any function from block height, price per coin pair, to the number of coins issued at that height. If you want to trade in cryptocurrencies there is software available known as bitcoin trading software. It allows you to do fast trading.

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