I believe that when we overdo our military aggressiveness, what it does it actually weakens our national defense. I mean, we stood up to the Soviets. They had 40,000 nuclear weapons. Now we're fretting day in and day - night about third-world countries that have no army, navy or air force.

The Fed has one power that is unique to it alone: it enables the creation of money out of thin air. Sometimes it makes vast new amounts. Sometimes it makes lesser amounts. The money takes a variety of forms and enters the system in various ways. And the Fed does this through techniques such as open-market operations, changing reserve ratios, and manipulating interest rates, operations that all result in money creation.

As long as we live beyond our means, we are destined to live beneath our means.

Ideas are very important to the shaping of society. In fact, they are more powerful than bombings or armies or guns. And this is because ideas are capable of spreading without limit. They are behind all the choices we make. They can transform the world in a way that governments and armies cannot. Fighting for liberty with ideas makes more sense to me than fighting with guns or politics or political power. With ideas, we can make real change that lasts.

The reality is that our military presence on foreign soil is as offensive to the people that live there as armed Chinese troops would be if they were stationed in Texas. We would not stand for it here, but we have had a globe-straddling empire and a very intrusive foreign policy for decades that incites a lot of hatred and resentment toward us.

When things go badly, individuals look for scapegoats. I just do not believe that barbed-wire fences or guns on our border will solve any of our problems.

Today’s events are reminiscent of the Old Testament story of how the Israelites demanded a king over God’s objection. They believed that a king would give them peace and security. The results proved otherwise.