Al Qaeda debuts new currency

March 2, 2014

If the president needs a target for his drone list, I’d suggest finding out where these are printed and then expressing our displeasure with a Hellfire or three.

Money Jihad

Osama Bin Laden bill

Reportedly, Al Qaeda in Iraq (ISIL) is circulating its own one hundred “Islamic” pound note in western Iraq with a picture of the Twin Towers burning on 9/11 and a portrait of Osama bin Laden.

The new bills are quite a curious development considering that Islamists normally regard paper currencies as unclean “infidel” currencies invented by non-Muslim imperialists.  Islamists prefer gold dinars and silver dirhams such as those used by Muhammad according to traditional Islamic texts.

ISIL may have chosen a denomination of 100 because of the popularity of U.S. $100 bills in Iraq, where they are nicknamed “ghosts” because of Iraqi perceptions of Benjamin Franklin’s sprectral appearance.

Presumably, the new currency is more of a publicity stunt than an actual, working currency that could be used to pay the wages of their fighters.  The money would seem to have limited usefulness to ISIL’s men and their families, because…

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The War on Poverty Has Made a Difference…but the Wrong Kind

March 2, 2014

The Left likes to talk about ending the “war on drugs,” and may well have a valid point. I just wish they’d also be open to ending the “war on poverty,” which has done nothing but trap people in poverty. Have a look at the original post for a chart that shows what might have happened with poverty in America, if government hadn’t become involved.

International Liberty

On several occasions, I’ve observed that the poverty rate in America was steadily falling, but that progress came to a halt in the mid-1960swhen the government declared a War on Poverty.

And I almost always included a chart showing the annual poverty rate over several decades.

Moreover, I posted graphs showing how government programs trap people in dependency because of very high implicit marginal tax rates. And that’s true in other nations as well.

But it didn’t matter how many times I revisited this issue, I was never clever enough to look at the poverty-rate data to estimate what would have happened if the federal government hadn’t become involved.

Fortunately, John Goodman of the National Center for Policy Analysis was insightful enough to fill the breach. He shows that the War on Poverty has made a big difference. But in the wrong way.

Poverty Goodman

Here’s some of what John…

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