Von Mises On Minarchism

Ludwig Von Mises, Human Action, 280-281:

“The concepts of freedom and bondage make sense only when referring to the way in which government operates. It would be highly inexpedient and misleading to say that a man is not free because, if he wants to stay alive, his power to choose between a drink of water and one of potassium cyanide is restricted by nature. It would be no less inconvenient to call a man unfree
because the law imposes sanctions upon his desire to kill another man
and because the police and the penal courts enforce them. As far as the government—the social apparatus of compulsion and oppression—confines the exercise of its violence and the threat of such violence to the suppression and prevention of antisocial action, there prevails what reasonably and meaningfully can be called liberty. What is restrained is merely conduct that is bound to disintegrate social cooperation and civilization, thus throwing all people back to conditions that existed at the time homo sapiens emerged from the purely animal existence of its nonhuman ancestors……

In the market economy, the laissez-faire type of social organization, there is a sphere within which the individual is free to choose between various modes of acting without being restrained by the threat of being punished. If, however, the government does more than protect people against violent or fraudulent aggression on the part of antisocial individuals, it reduces the sphere of the individual’s freedom to act beyond the degree to which it is restricted by praxeological law. Thus we may define freedom as that state of affairs in which the individual’s discretion to choose is not constrained by governmental violence beyond the margin within which the praxeological law restricts it anyway.”

A Tribute To Ayn Rand And The Spirit Of America

A Tribute to Ayn Rand

I posted this in 2008 and I’m reposting it from PopModal today because it seems to be corrupted on my blog and the youtube version has vanished

Projwal Shreshta  compiled the quotations from “Atlas Shrugged” and the music, which is Divano, by Era.

From “Atlas Shrugged”:

“I started my life with a single absolute: that the world was mine to shape in the image of my highest values and never to be given up to a lesser standard, no matter how long or hard the struggle.”

“What is morality, she asked.
Judgment to distinguish right and wrong, vision to see the truth, and courage to act upon it, dedication to that which is good, integrity to stand by the good at any price. ”

“The view that man was ever to be drawn by some vision of the unattainable shining ahead, doomed ever to aspire, but not to achieve, my life and my values could not bring me to that.”

“I never found beauty in longing for the impossible and never found the possible to be beyond my reach.”

“I take no pride in hopeless longing; I wouldn’t hold a stillborn aspiration. I’d want to have it, to make it, to live it.”

“I do not think that tragedy is our natural fate and I do not live in chronic dread of disaster. It is no happiness, but suffering that I consider unnatural. It is not success, but calamity that I regard as the abnormal exception in Human Life.”

“Every form of happiness is one, every desire is driven by the same motor.- by our love for a single value, for the highest potentiality of  our own existence — and every achievement is an expression of it.

“Every man builds his world in his own image; he has the power to choose, but no power to escape the necessity of choice. If he abdicates his power, he abdicates the status of man, and the grinding chaos of the irrational is what he achieves as his sphere of existence—by his own choice.”

“Morality is judgment to distinguish right and wrong, vision to see the truth, courage to act upon it, dedication to that which is good, and integrity to stand by it at any price.”

“Joy is the goal of existence, and joy is not to be stumbled upon, but to be achieved, and the act of treason is to let its vision drown in the swamp of the moment’s torture.”

“Devotion to the truth is the hallmark of morality; there is no greater, nobler, more heroic form of devotion than the act of a man who assumes the responsibility of thinking.”

“I am. Therefore I’ll think.”

“The choice–the dedication to one’s highest potential–is made by accepting the fact that the noblest act you have ever performed is the act of your mind in the process of grasping that two and two make four.”

“There was no meaning in motors or factories; that their only meaning is in man’s enjoyment of his life, which they served – and that my swelling admiration at the sight of achievement was for the man from which it came.”

“For the power and the radiant vision within him which had seen the earth as a place of enjoyment and had known that the work of achieving one’s happiness was the purpose the sanction and the meaning of life.”

More quotations listed conveniently here:
http://en.wikiquote.org/wiki/Ayn_Rand

Yeats: The Rag And Bone Shop Of The Heart

Image by K.R. Hamm via So Fake It’s Real

The Circus Animals’ Desertion

I sought a theme and sought for it in vain,
I sought it daily for six weeks or so.
Maybe at last, being but a broken man,
I must be satisfied with my heart, although
Winter and summer till old age began
My circus animals were all on show,
Those stilted boys, that burnished chariot,
Lion and woman and the Lord knows what.

What can I but enumerate old themes,
First that sea-rider Oisin led by the nose
Through three enchanted islands, allegorical dreams,
Vain gaiety, vain battle, vain repose,
Themes of the embittered heart, or so it seems,
That might adorn old songs or courtly shows;
But what cared I that set him on to ride,
I, starved for the bosom of his faery bride.

And then a counter-truth filled out its play,
‘The Countess Cathleen’ was the name I gave it;
She, pity-crazed, had given her soul away,
But masterful Heaven had intervened to save it.

I thought my dear must her own soul destroy
So did fanaticism and hate enslave it,
And this brought forth a dream and soon enough
This dream itself had all my thought and love.

And when the Fool and Blind Man stole the bread
Cuchulain fought the ungovernable sea;
Heart-mysteries there, and yet when all is said
It was the dream itself enchanted me:
Character isolated by a deed
To engross the present and dominate memory.
Players and painted stage took all my love,
And not
those things that they were emblems of.

Those masterful images because complete
Grew in pure mind, but out of what began?
A mound of refuse or the sweepings of a street,
Old kettles, old bottles, and a broken can,
Old iron, old bones, old rags, that raving slut
Who keeps the till. Now that my ladder’s gone,
I must lie down where all the ladders start
In the foul rag and bone shop of the heart.

Comment

William Butler Yeats wrote “The Circus Animals’ Desertion” toward the end of his life, in a moment of insight into the limits of aesthetic pursuits. The poem speaks equally to the limits of ideology.

The Mind-Body Politic: The Technique Of Inner Listening

The fifth chakra = Vishuddha

Wikipedia

“The throat wheel is an important centre in the Highest Yoga traditions of Vajrayana. It is circular, red, with 16 upward pointing petals or channels. It is of particular importance for the practice of Dream Yoga. Correctly meditating upon it before going to sleep should produce lucid dreams, within which one can continue to practice yoga.[1]

“Western occultists make various differing kabbalistic associations with Vishuddha. Some associate it with the hidden sephirah Da’at, where ‘wisdom’ and ‘understanding’ are balanced in the supernal realm by the aspect of ‘knowledge’, a tangible idea, which is then expressed, leading to the act of the creation, others associate it with the sephirah Chesed and Geburah, mercy and strength, which are sephirah intimately associated with morality, and the concept that both expansion, as expressed by Chesed, and limitation, as expressed by Geburah, are necessary for the creation of individual beings. In terms of ethics, this is expressed by the yamas and niyamas ( do’s and do nots ) of yoga.”

Yoga Sutras of Patanjali 3.39-3.49

“By samyama over the relation between space and the power of hearing, the higher, divine power of hearing comes.


(shrotra akashayoh sambandha samyamat divyam shrotram)
[Note: In some renditions this is sutra 3.40 or 3.41]

  • shrotra = ear, the power of hearing
  • akasha = space, ether
  • sambandha = over the relation
  • samyama = dharana (concentration), dhyana (meditation), and samadhi taken together (3.4)
  • divyam = higher, divine
  • shrotram = ear

Divine or psychic hearing: By samyama over the relation between space (one of the five elements) and the power of hearing, the higher, divine power of hearing comes.

Space, hearing, and the chakras: Space is one of the five elements (earth, water, fire, air, space) and hearing is one of the five karmendriyas. Both of these operate from the fifth chakra, which is at the throat. It is through samyama of one that mastery over the other is attained. The same principle applies to the other elements, karmendriyas, and jnanendriyas. (See the Chakras section of Kundalini Awakening).”

Edward Feser On The Weakness of Rothbard’s Philosophy

[Added, July 4:  In response to a video of Rand on the Middle East, posted at Lew Rockwell.

Yes, Rand was wrong about that.

But that does not diminish the validity of her thinking in other areas, any more than Rothbard’s rightness on foreign policy validates everything else he wrote. Nor is the Middle East the reason the left hates Rand.  It detests her because her appeal to individualism and achievement is perennially powerful and popular.

And it also detests her because she dissected at least a part of the motivation behind much charity/altruism, to which the left insistently appeals.

Now, Rand owes her thought on that subject and other things  to Nietzsche, whom she adapted very originally and powerfully. In turn, Nietzsche, also an original and creative mind, owed his thinking to his studies of Eastern religion, especially Buddhism and Hinduism.

As is the case with Heidegger, Nietzsche, as far as I know, did not properly credit that influence.

(On the other hand, Yeats, also massively influenced by Nietzsche, did….]

In this way, intellectual chicanery/cultural fraud is at the heart of the modernist project.

Imagine if I were to study Christianity surreptitiously, and then go to some state in India where the villagers knew nothing about it and preach about such things as the resurrection of the body, judgement day, the fall, and original sin, passing off these notions as my own original thought, while denigrating the culture from which I took those ideas?

What kind of a fraud would that be?

What kind of damage would that do to the villagers’ understanding of the world at large, and to my own ability to reach valid conclusions about that world?]

Edward Feser on Murray Rothbard as a philosopher:

“I should also make it clear that my low opinion of Rothbard’s philosophical abilities has nothing to do with the particular conclusions he wants to defend. I certainly share his hostility to slavery, socialism, communism, and egalitarian liberalism. I also agree that much of what modern governments do is morally indefensible and that many of the taxes levied by modern governments (maybe even most of them) are unjust. And while I strongly disagree with his claims that government per se is evil and that all taxation is unjust, these are at least philosophically interesting claims. The problem is just that Rothbard seems incapable of giving a philosophically interesting argument for his claims. (Moreover, the claims in question were borrowed by Rothbard from 19th century anarchists like Lysander Spooner, so even where Rothbard is philosophically interesting he isn’t original.)”

Lila: He also borrowed from Rand, indeed, plagiarized her theory of volition, it is said, as well as a dissertation by a student, Barbara Branden. Which might explain why some Rothbardians feel the need to attack Ayn Rand all the time, usually without seeming to have read her very well. It is another way the modern libertarian movement panders to the left – by adopting its superficial reading of Rand, who, while flawed, is a giant next to most of her critics.

Feser goes on to deconstruct Rothbard’s arguments about self-ownership:
“Here, then, is the example. It is Rothbard’s main argument for the thesis of self-ownership, which is, as I have indicated, the very foundation of his moral and political philosophy, without which his moral case against taxation and government totally collapses.
I know of at least three places where he presents it (there may be others): in his book For a New Liberty (first published 1973, revised 1978); in his essay “Justice and Property Rights” (first published 1974, reprinted in his anthology Egalitarianism as a Revolt Against Nature and Other Essays, 2nd edition); and in his main work on moral and political philosophy, The Ethics of Liberty (1982, revised edition published in 1998). In the revised edition of For a New Liberty, the argument begins as follows:
Since each individual must think, learn, value, and choose his or her ends and means in order to survive and flourish, the right to self-ownership gives man the right to perform these vital activities without being hampered and restricted by coercive molestation. Consider, too, the consequences of denying each man the right to own his own person. There are then only two alternatives: either (1) a certain class of people, A, have the right to own another class, B; or (2) everyone has the right to own his own equal quotal share of everyone else. The first alternative implies that while Class A deserves the rights of being human, Class B is in reality subhuman and therefore deserves no such rights. But since they are indeed human beings, the first alternative contradicts itself in denying natural human rights to one set of humans. Moreover, as we shall see, allowing Class A to own Class B means that the former is allowed to exploit, and therefore to live parasitically, at the expense of the latter. But this parasitism itself violates the basic economic requirement for life: production and exchange.” (pp. 28-29)
The rest of the argument attempts to rule out alternative (2) and has its own problems, but I won’t bother with it because the passage quoted is enough for my purposes.
I think this argument is a very bad one; indeed, I think that to anyone with any philosophical training it will be quite obvious that it is bad. And not only is it bad, but given that Rothbard says nothing more in defense of the claims made in this passage (apart from trying to rule out alternative (2)), I think it is clear that the argument fails to be even minimally respectable in the sense described above. I suspect that most readers can immediately see at least some of the problems with it. Here are the ones that occur to me:
1. Even if it were true that “each individual must think, learn, value, and choose his or her ends and means in order to survive and flourish” and that “the right to self-ownership gives man the right to perform these vital activities without being hampered and restricted by coercive molestation,” it just doesn’t follow that anyone has a right to self-ownership. For all Rothbard has shown, we might also be able to think, learn, value, etc. even if we didn’t have any rights at all. (That X could get us Z doesn’t show that Y wouldn’t get it for us too.) Or we might need some rights in order to do these things, but not all the rights entailed by the principle of self-ownership. Or we might really need all the rights entailed by self-ownership, but nevertheless just not have them. After all, the fact that you need something doesn’t entail that you have it, and (as libertarians themselves never tire of pointing out), it certainly doesn’t entail that you have a right to it. For example, wild animals need food to survive, but it doesn’t follow that they have a right to it (indeed, Rothbard himself explicitly denies that animals can have any rights).
Furthermore, why should we grant in the first place that “each individual must think, learn, value, and choose his or her ends and means in order to survive and flourish”? Children survive and flourish very well without choosing most of their means and ends. Some adults are quite happy to let others (parents, a spouse, government officials) choose at least some of their means and ends for them. Many physically or mentally ill people couldn’t possibly survive or flourish unless others chose their means and ends for them. Even a slave or serf could obviously survive and even flourish if his master or lord was of the less brutal sort. And so forth. And if surviving and flourishing are what ground our rights, how could we have a right to suicide or to do anything contrary to our flourishing, as libertarian defenders of the thesis of self-ownership say we do?
Also, why should we grant that respect for each individual’s self-ownership really would ensure every individual’s ability to choose his means and ends, etc.? A leftist might argue that respect for self-ownership would benefit some but leave a great many others destitute and bereft of any interesting range of means or ends to choose from.
Of course, there might be some way a Rothbardian could reply to these objections; I certainly don’t find all of them compelling. But the point is that they are obvious objections to make, and yet Rothbard doesn’t even consider them, much less answer them. Even a brief acknowledgement of some of these objections and a gesture in the direction of a possible reply might have been enough to make the argument minimally respectable, but Rothbard fails to provide even this.
2. The claim that there are “only two alternatives” to denying the thesis of self-ownership is just obviously false. Here are some further alternatives that Rothbard fails to consider:
(a) no one owns anyone, including himself
(b) God owns all of us
(c) one class of people has a right to only partial ownership of another class (e.g. the former class has a right to the labor of the latter class, but may not kill members of the latter class, or refuse to provide for their sustenance, or forbid them from marrying, etc.)
(d) everyone has partial and/or unequal ownership of everyone else (e.g. everyone has an absolute right to bodily integrity, but not to the fruits of his labor, which are commonly owned; or everyone has an absolute right to bodily integrity, and an absolute right only to some percentage of the fruits of his labor, with the rest being commonly owned; or everyone has a presumptive right to bodily integrity, which might be overridden in extreme cases, with a right to a percentage of the fruits of his labor; or the weak and untalented have an absolute right to bodily integrity and to a large percentage of, though not all of, the fruits of their labor while the strong and talented have an absolute right to bodily integrity and to a much smaller percentage of the fruits of their labor; or the strong and talented, unlike the weak and untalented, have only a presumptive right to bodily integrity, which might be overridden if someone desperately needs an organ transplant; and so on and so forth).
Alternative (b) was defended by Locke (for whom talk of self-ownership was really just a kind of shorthand for our stewardship of ourselves before God) and it would also have been endorsed by natural law theorists in the Thomistic tradition. Rothbard explicitly cites both Locke on self-ownership and the Thomistic natural law tradition, so this alternative should have been obvious to him, and yet he fails even to consider it.
Lila: Chesterton has an excellent essay about the uses of the word “own,” but I think anyone with common sense can understand that the meaning of ownership itself varies with the context.
That Rothbard is not reflective about language – a lack of reflection pervasive among certain kinds of libertarians –  is immediately apparent to any reader with the slightest acquaintance with modern literature, let alone semiotics or philosophy.
“Alternative (c) was the standard view taken by defenders of slavery, most of whom would not have endorsed the unqualified ownership of other people implied by Rothbard’s alternative (1). One would think that Rothbard, who fancied himself a historian of ideas, would be aware of this, and yet here again he simply ignores what should have been another obvious possible alternative.
Some version or other of alternative (d) is arguably implicit in the views of many leftists, very few of whom (if any) would really claim that all of us have equal quotal ownership of each other. At the very least, a minimally charitable reading of left-wing arguments about taxation and redistribution would acknowledge that this, rather than Rothbard’s alternative (2), might be what egalitarian leftists are committed to. But Rothbard fails even to consider the possibility. He suggests (later on in the argument, after the passage quoted above) that “communist” ownership by everyone of everyone would entail that no one could take any action whatsoever without the permission of everyone else, but while this might be true under option (2), it would not be true under the less extreme egalitarian possibilities enshrined in (d).
Alternative (a) is one that Rothbard finally did consider – almost a decade after first giving the argument and after once again ignoring this alternative when repeating the argument in “Justice and Property Rights” – in a brief footnote in The Ethics of Liberty. (He attributes it to George Mavrodes, apart from whom, apparently, Rothbard might never have seen the obvious.) Rothbard’s reply to it is to say that “since ownership signifies range of control, this [i.e. no one’s owning anyone, including himself] would mean that no one would be able to do anything, and the human race would quickly vanish.”
But the badness of this argument should also be obvious. While having ownership of something does imply having a range of control over it, having a range of control over it doesn’t imply ownership. I have a certain “range of control” over my neighbor’s flower bed – he couldn’t stop me if I walked over right now and pulled some flowers out of it – but it doesn’t follow that I own it. Animals have a range of control over their environment, but since ownership is a moral category implying the having of certain rights, and animals (by Rothbard’s own admission) have no rights, it follows that they have no ownership of anything. And of course, their lack of ownership of anything hasn’t caused animals as a whole to “vanish,” “quickly” or otherwise, which makes evident the absurdity of Rothbard’s claim that alternative (a) would entail the extinction of the human race.
3. Alternative (1) just obviously doesn’t imply that the members of class B are “subhuman.” Not all defenders of slavery have denied that slaves are fully human; their view is just that some human beings can justly be owned by other ones. Rothbard’s assertion that this “contradicts itself in denying natural human rights to one set of humans” is just blatantly question-begging, since what is at issue is precisely whether there are any natural human rights that might rule out slavery.
4. Rothbard’s claim that the “parasitism” entailed by alternative (1) “violates the basic economic requirement for life: production and exchange” is also just obviously false. Animals do not engage in “production and exchange,” certainly not in the laissez-faire economics sense intended by Rothbard, but they are obviously alive.

In this one brief passage, then, Rothbard commits a host of fallacies and fails even to acknowledge, much less answer, a number of obvious objections that might be raised against his argument. Nor is this some peripheral argument, which might be written off as an uncharacteristic lapse. It served as the foundation of his entire moral and political theory, and was repeated several ti”mes over the course of a decade virtually unaltered. And if things are this bad in the very foundations of his moral and political theory, you can imagine how bad the rest of his philosophical arguments are.”

Comment:

I would also add that  Rothbard’s weaknesses as a thinker are replicated in some of his most fervent acolytes, who substitute sound and fury for depth of reasoning and seem to think incorrect thinking becomes better the more violently it is articulated.

This is not a criticism of  libertarianism as such. A term broad enough to embrace everyone from Tolstoy to Milton Friedman can hardly be criticized as one.  “Libertarianism” cannot be considered a singular movement, however much, for political or marketing reasons, some anarcho-capitalists might try to drag someone like Tolstoy into their fold.

Tolstoy was a libertarian in the way Gandhi was. Profoundly anti-capitalistic. They both believed in voluntary poverty and simplicity and abhorred the complexity of modern life. I doubt either would relish becoming the mascot of the Mises or Bastiat Institutes. To try to ride their reputations for the sake of broadening one’s appeal is intellectually disingenuous.

So I have profound differences with  American-style libertarianism (of the LRC type or of the Reason Magazine type), while supporting LRC’s antiwar and anti-police state positions.

Another point. In things of which  I know something, I can clearly spot the flaws and limitations of Rothbard’s arguments, which makes me think that in areas in which I am uncertain, he must be flawed too.

Anyway, Feser’s points don’t need any great acquaintance with Rothbard’s economic reasoning to follow. They are points that have occurred to me on and off, as I’ve read the great (?) man.

But frankly, my increasing disinterest in Rothbard has grown from more intuitive roots.

First, there is something cocky, smug, and shallow in the writing itself….despite its superficial good humor and sense.

Then, there are the stories of plagiarism – something which intensely prejudices me against a writer. And there are his attacks on writers many would consider his superior, like Ayn Rand and Adam Smith.  I wonder how much of envy lay behind all that.

On the many people whom he knew and taught, he seems to have had a profound influence, which speaks well of him. But I haven’t had the pleasure of knowing him personally, so my judgement must be from what I read of him.

And from reading him, and reading of him,  I get the picture of a shallow, bright, abrasive man, who thought very highly of himself, yet plagiarized often, and covered up the lack of originality by attacking others, attacks that his followers continue, see here,

as well as here.

[Rand was the most famous instance of Rothbard’s plagiarism. But he also borrowed from Spooner, as Feser points out. And a commenter at this blog adds this:

“The first part of his book on the history of American banking drew on a report about the “Suffolk System” published by that bank, but since buried in the archives. After finding a bad microfilm copy at my university library, I paid the Adam Smith Institute to send me a good one. (I also bought one of their neckties.) Rothbard plagiarized heavily from the original Suffolk Banking System and, worse, projected his own anarchist opinions on the facts of history. As a criminologist, I am fully sympathetic to a free market in protection and adjudication, but the fact is that the Suffolk System was not destroyed by the evil machinations of Salmon P. Chase’s Treasury Department.”

So, if Rand has her flaws (and she does), Rothbard has his, analyzed at length in this piece by G. Stolyarov.

Meanwhile, in general power of reasoning, insight into the psychology of the modern mind, and overall influence, frankly, Rothbard cannot hold a candle to Rand, whatever powers he might have as a historian or economist.

There is a reason that the left attacks her, not him.

Penny Freeman On The Neutering Of Rand (and Ron?)

This shouldn’t be too surprising for anyone who’s been keeping their ears and eyes open.
Check out my comments at Veterans Today on a Sybil Edmonds piece on Bruce Fein

and my comments at Deep Capture at the bottom of this piece.

And at Economic Policy Journal and at The Daily Bell.

(I’ll put the multiple links above and my previous posts), not to gloat, because I feel very bad about this for all the poor people and even the Paulbots (just a joke) who slaved away, contributed and put their credibility on the line for these two and now have egg on their face. I hope Ms. Freeman is only expressing a dark view and not the whole story…because a lot of people are going to feel very taken.

And that includes me too. …except, I don’t close my eyes when I see something I don’t like. I reevaluate things.

A lot of an-caps don’t.  That kind of dogmatism is not reason. It’s emotion. And emotion blinds you to reality.

There were always these real problems with Ron Paul, as far back as 2008.

1. Too tied in to the financial world (especially the hard money network, which is riddled with intelligence operatives and propagandists)
2. His campaign showed too much nepotism
3. The campaign was too slick in marketing. They came off just like any other politician
4. There was too much money raised for what he seemed to be doing and no clear explanation of how it was used.
5. Too many Zionist advisors prominent in his following who appeared to have a disproportionate role.
6. Too much pandering to the left and to the media on some things – not critical enough of Assange; not critical enough of many of the trendy liberal-left positions (pro-porn, for eg) that actually support corporate interests.
7. Too many expedient decisions along the way.
8. Too tied into the internet newsletter community, marketing. Not enough criticism of corporate practices and ethics.

9.  Didn’t support the people who are actually fighting the banksters (Byrne and Co on the right; Naked Capitalism on the left).

10. Used many decent people badly. This is what I hold against them most. I think many of the very credible and sincere people at LRC, including Lew R. himself, Tom Woods and a few others, now look gullible.  Have to say they got a warning about that from Wendy McElroy. That went unheeded by Walter Block. He along with Kinsella and Hoppe may be heroes to some core constituency, but from where I stand, they aren’t the best spokesmen for liberty, since they advocate positions that deny it to substantial numbers of people.

Anthony Wile at The Daily Bell is taking the position that this sell-out doesn’t matter and the important thing is that Paul educated a lot of people.

Yes, he did that. And yes, he also struggled for a long time, taking the message where he could, in the face of ridicule and slander. And yes, he probably knows better than most that you can’t fight “city hall.” He’s old and he’s done his bit…..more than a bit, a tremendous amount.

Well, this is a smart position to take, for one’s own psychological health, but it’s not very truthful.  Paul’s influence was not just benign. It has had its dark side.

By running a campaign that sucked money and energy from the whole grassroots opposition to war and the police state, he bled that energy and money away from initiatives that needed more support and might have done something more substantial (although, I’ll admit that’s hypothetical..and although, in my view too, education is a huge and important foundation that has to be laid before real long-term change can come.

More importantly, he distanced himself from the active fight against the money-power that was taking place at Deep Capture, a forum which endorsed Paul, but never received a word of support in return.

People have been killed trying to unravel the whole story of the grip of the intelligence networks on the United States. People have impoverished themselves to write what had to be written, they’ve been sued and fled the country, they’ve been hounded and killed by the government.

Those are libertarian heroes in my book, not people who weren’t prepared to forsake the comforts of life, career, and networks….and more disappointingly, seemed to distance themselves from those who did.

To be honest, I’ve come to believe there are more libertarian heroes on the left and among conservative Christians, than there are among most anarcho-capitalists, who, seem to confine themselves to theory and advocacy but not to the battlefield where all of that must hit the ground…

How could it be otherwise, since most of them have such a limited idea of self-interest. “Mind your own business” is not likely to produce heroes, at least, not outside your own family.

Don’t blame that on Ayn Rand, who had a much deeper view of self-interest and values. I tend to blame it on Murray Rothbard’s influence, but that’s a judgment I’m not yet fully comfortable with. It’s possible I need to understand him more.

No. Ron Paul is not a villain at all. But he wasn’t the savior the libertarian grassroots believed him to be. That has already been made clear.

And the fall out will be painful for the true believers.

The rest of us will just chalk one up to observation, over ideology, and to individualism, over mass thinking.

And then we’ll turn off this show… and tune into the bubble in the next messiah…..

Rajat Gupta Trial: The Other Goldman Insider Ring…

Just wonder what would happen if Gary Naftalis, lawyer for Rajat Gupta, the former Goldman manager on trial for alleged insider-trading, asked Lloyd Blankfein if he’d ever shared confidential Goldman information himself….you know, with one of his swanky neighbors in New York, say, Daniel Seth Loeb (Mr. Pink of feminine hygiene fame), who manages billions for hedge-fund, Third Point LLC..

Loeb, allegedly part of the network of sometime Sith Lord, Michael Milken (also of insider-trading fame),  is what’s called an activist hedge-fund, which is a nice way of saying he actively influences the price of the stocks he shorts/buys (all for the greater good, of course, but fortunately it coincides precisely with Mr. Loeb’s good too, which is so nice, especially when your hedge-fund is down).

Of course, one guy’s activism is another guy’s market manipulation, but I came not to quibble.

Daniel…Danny to his friends…is also good at digging up… er…doing research on the companies he shorts and employing public message-boards to intimidate company officers with information both relevant to their duties and relevant only to the purpose of intimidation (see also, harassment) .

He employs for that purpose the very interesting corporate intelligence firm of Julius Kroll, which every 9-11 researcher knows…

Kroll has ties (would you call those insider ties?) with Maurice (Hank) Greenberg through its purchase in 2004 by Marsh & McLennan, an insurance brokerage firm owned until 2005 by Jeffrey Greenberg, Hank’s son. Greenberg has been chief of C.V. Starr (CIA-linked), of Starr International, and until 2005 of AIG (also CIA-linked)…..

but I digress…

Where was I? Oh yes. Insider trading.

I just wondered about it in my little ole way, because digging (just like Kroll!)  through my archives, I ran into this note about how…sort of like biorhythms or crime-waves following the phases of the moon… there were a string of exits, literal and figurative, among some of these Goldman- Third-Point-activist-outsider-insider-letter-writing types at certain opportune moments. To wit.

“Goldman’s chief hedge-fund manager, Pierre-Henri Flamand (chief of GS Principal Strategies), retired in February after 15 years at Goldman. Flamand was with Principal Strategies from 2002 -2007, and then turned it into a hedge-fund in 2008, is starting his own fund. He’s being replaced by another manager from GSPS. Goldman has been accused of conniving with select hedge-funds to conduct bear raids on banks and governments.

Meanwhile, Adam Sackett, co-chief of trading at Third Point Capital, died on March 11, March 10, Wednesday night, apparently from a sudden bacterial infection. Third Point is one of the hedge-funds accused of colluding with David Einhorn’s Greenlight and SAC’s Steven Cohen in manipulative activities. Sackett had previously worked at Jim Chanos’ hedge-fund Kynikos (suspected by some to be part of that group), according to this death notice in the New York Times.

Note: Bankruptcy examiner Anton Valukas’ report on the demise of Lehman came out on March 11, 2010, the day after Sackett died.

Our condolences to the family.

In a letter to investors, posted at scribd, Daniel Loeb, Sackett’s co-chief at Third Point, called him “brilliant, kind, and funny, ” says the WSJ.

Last year, Third Point lost three senior officers, its chief operating officer, Brian Wilson, chief risk officer, Devin Dellaire, and head of investor relations, Tom Kratky.”

Tut. The last thing you want at activist hedge-funds is inactive  officers. But there — happens to the best of us.

And Loeb  is among the bestest of the best, we hear. So good that he gets to be neighbors with big shots from Citigroup and Goldman “we don’t do insider trading” Sachs at 15 Central Park West.

That’s this swanky place in New York:

15 central park west residents

And, dang, if  that isn’t a nice picture of Lloyd Bankst – I mean, Blankfein. Guess if you have to do God’s work, you might as well do it in a duplex worth $26 mill, huh?

[I have to say me..being a wog schwartze ‘n all…I couldn’t quite get the hang of what could’ve possibly cost $26 big ones in the place…but as they say, if you got it, flaunt it..]

And here’s Sandy Weill (former chief of Citigroup) flaunting his digs – worth $46 mill – at 15 Central Former Citigroup CEO Sandy Weill bought a full-floor penthouse in the front section of 15 CPW. He paid $43.7 million for the place in 2007, then a record price per-square-foot.

Park West.  (Love the smile, Sandy).  And then there’s Daniel Ochs (hedge-fund manager) and …but I digress, again.

Danny (to his foes, Senor Pinche_Wey – look that up) Loeb paid nearly as much as Sandy for his 8 bedroom apartment (45 million in 2008). He  wants to sell it for 100 million this year.

Nice.

But what I was really getting at, in my clumsy way, is could Mr. Gary Naftalis please inquire if Mr.Lloyd  Blankfein, in his neighborly walks from his apartment ($26 million) to the lobby and back, and up the elevator, and down, and in the door, and out..and waiting to catch a cab, or go to a restaurant, ever run into Mr. Loeb?

And if he did, did he chat? And if he chatted, as I hear he did, did he ever say anything about Goldman? And if he did, did he ever…just accidentally…let on about something that was confidential? I mean, I know how Mr. Blankfein is so big on confidentiality and how careful they are with even the appearance of wrong-doing at Goldman Sachs.

So careful, that their senior executives have begun jumping ship on the front pages of the international press.

Here’s how one of its clients, Marvell Technology Group, saw Goldman’s impeccable culture:

“Dr. Sutardja and Ms. Dai founded Marvell Technology Group, a worldwide semiconductor company in 1995. Goldman Sachs managed the IPO for Marvell and put the two executives into its Private Wealth Management Group. It is alleged that once the two executives’ personal wealth was under the financial management of Goldman Sachs, the firm abused the two executives’ trust, manipulated their relationship, and ultimately defrauded them of several hundreds of millions of dollars.”

And if Mr. Blankfein, like Brer Rabbit, jes’ lay low ‘n didn’t say nuffin’, how should we understand a passage like this one:

“Multiple media stories (such as this one in “Investment News”) have speculated that Goldman Sachs actually designed these CDOs in such a way that they would be certain to implode, delivering large profits to Goldman and preferred hedge fund clients. Those CDO could not have been created without Einhorn and his allies inside New Century delivering the mortgages that went into them. And there is no doubt that Goldman Sachs delivered the knock-out punch that put New Century out of business, ensuring that the CDOs would, in fact, implode. This constellation of facts may be coincidental, of course. Or not. This essay lays them out, and leaves it to the reader to decide.

New Century’s problems began in December 2005, when board member Richard Zona drafted a letter in which he threatened to resign if senior executives did not agree to sell a greater percentage of the mortgage loans on its books to various banks, such as Goldman Sachs. In his letter, Zona explicitly stated that he was making this demand in league with David Einhorn and Dan Loeb.

Unfortunately, according to the bankruptcy report, New Century’s executives never saw that letter. Zona stashed the draft letter on his computer and instead submitted a letter making a similar demand, but omitting all mention of Einhorn and Loeb. In all likelihood, Zona changed his letter because he knew that New Century’s executives had good reason to doubt whether Einhorn and Loeb, who had recently reported large shareholdings in New Century, were acting in the company’s best interests.

As Deep Capture has thoroughly documented, Einhorn and Loeb are part of a network of hedge fund managers and criminals who use a variety of dubious tactics to destroy, seize, and/or loot public companies for profit. It is not unusual for money managers in this network to appear as long investors in the companies they are attacking, and sometimes they seek to obtain a seat on a target company’s board in order to be better placed to run the company into the ground for their own private profit.

Essentially everyone  in this network – including Einhorn and Loeb — are connected in important ways to Michael Milken, the infamous criminal who specialized in loading companies with debt, looting them, and then profiting still more from their inevitable bankruptcies.”

Most of all, could Mr. Gary Naftalis find out why US Attorney Preet Bharara hasn’t charged David (no relation to Danny, we hope) Loeb, who was also leaking confidential Goldman information to Galleon?

“The logs showed calls from Loeb’s phones to numbers associated with Rajaratnam and Galleon trader Adam Smith on dates when Gupta is alleged to have tipped Rajaratnam, bolstering a defense claim that it was Loeb or others who leaked data.

Loeb, whose job kept him in regular contact with hedge funds, hasn’t been accused of wrongdoing, and Frankel didn’t present other evidence that he was the source of Rajaratnam’s information.”

And why  didn’t he charge Henry King, the technology analyst, another Goldman leaker, and how did he overlook the mysterious “Mr. X,” a third Goldman leaker... and why was it he zeroed in only on the luckless Mr. Gupta?

By the time it caught the attention of the Feds, Goldman – if we’re to believe the charges – had sprung more leaks than the Titanic…

Which leads to some interesting speculations.

Marvell Technology, we can safely assume, falls under the tech sector.  That would be the sector in which Henry King, the leaker, worked.  Marvell, with its Singapore offices, would also probably be of interest to David Loeb, head of Asia Equity sales, the other known leaker.

The one with all those ties to hedge-funds.

Would those hedge-funds include Daniel Loeb’s well-known Third Point? Especially, since, on looking up Mr. Loeb’s holdings, we find he has over 40% in technology including holdings in Marvell and in Apple.

Dan Loeb’s Third Point Offshore fund returned 3.7% during the first 5 months of 2012. Here are his top 10 holdings at the end of March:
Company Ticker Value ($000s) Activity
YAHOO INC YHOO 1,073,016 26%
DELPHI AUTOMOTIVE PLC DLPH 417,990 New
SARA LEE CORP SLE 221,221 32%
APPLE INC AAPL 217,037 New
UNITED TECHNOLOGIES CORP UTX 182,468 New
GOOGLE INC GOOG 179,547 New
MARVELL TECHNOLOGY GROUP LTD MRVL 145,503 -8%
MEDCO HEALTH SOLUTIONS INC MHS 140,600 New
FAMILY DOLLAR STORES INC FDO 136,052 New
CAPITAL ONE FINANCIAL CORP COF 119,841 New

It looks like he lost on Marvell, at least the shares he bought this year, but we don’t know what was bought in 2008…or sold…and what with all the long-short, up-down, outsider-insider, black-white, pump-dump, on-shore/off-shore, high-tech low-class complexities of hedge-funds, inquiring minds would like to know….

[June 20. I checked Einhorn and I see that he bought Marvell Technology in 20011 in the 3rd Q
“David Einhorn initially invested in Marvell Tech Group, a semiconductor company, in the third quarter of 2011. He bought 16,640,000 shares at an average price of $14. Then, he added more shares in the next two quarters and owned a total of 18,372,247 at March 31, 2012, making the holding 5.2% of his portfolio and his fifth-largest holding.

Marvell temporarily went above Einhorn’s highest average purchase price of $15.63 in the first quarter, but dropped to open Tuesday at $11.98 per share”

Back to Marvell. The co-founders claim that Goldman forced them to sell their holdings in  companies at a loss, through margin rules, and then turned around and bought those shares for its own holdings and those of its related hedge-funds.

One instance, was in the case of tech stock, NVIDIA:

Citing clear conflict of interest, the FINRA Claim alleges no one from Goldman ever disclosed to Claimants that Goldman was increasing its holdings in NVIDIA shares, while simultaneously forcing Claimants to sell their NVIDIA shares at a loss. Indeed, according to the FINRA Claim, no one from Goldman ever disclosed to Claimants that it was trading in NVIDIA at all or that it provided investment banking services to NVIDIA.

Another was in the case of their own company, Marvell. Their lawsuit against Goldman, though, doesn’t show any evidence of Goldman or hedge-fund purchasing Marvell.

If it did,  to a layman’s eyes, the scheme would seem as bad as a pump-and-dump operation.

Pump-and-dump operations often go hand-in-glove with naked short-selling, even though bashers and pumpers like to face-off on the message-boards with ripe invective.

And now we know that there’s been  naked-short-selling at Goldman Sachs since documentary evidence emerged accidentally in Overstock’s lawsuit with Goldman Sachs.

That  brings us back to the alleged insider trading ring Goldman had going with Third Point and its associates.

Which, again to our layman’s eyes, seems just as bad…if not a good deal worse..than the shenanigans of “Big Raj”‘s Galleon Group.

Besides, Big Raj is not on trial here. He’s already in the slammer. The trial is about Rajat Gupta, whose main mistake in this case seems to have been picking Big Raj for a friend….at least, for the time they were friends.

Which wasn’t long, by the account of Berkshire Hathaway’s No. 2 man, Mr. Ajit Jain.

Raj had gypped Rajat by 2008 says Mr. Jain.

Which means that if you’re looking for insider-rings with high-up connections to Goldman, Gupta might not be the highest up connection. Or, at least, not the only one.

I mean, it seems like if Mr. Bharara, another proud New Yorker, really wanted to know what was going on at Goldman, it would have been a lot less work to just stop by for a neighborly chat at  15 Central Park West….

Or has he?

The Problem With The Rajat Gupta Insider Trading Case

Update:

New charges have been added to the indictment, including alleged tips on March 12, 2007 (Goldman Sachs) and Jan 29 (Proctor & Gamble) that led to Galleon trading.

ORIGINAL POST:

You gotta hand it to the government. They know how to do theater.  Except it’s theater of the absurd.

While mafia outfits with…er…skeletons in their closet sail on unscathed; managers – especially brown ones –  who might have talked out of turn are facing the firing squad.

Walter Pavlo in Forbes:

“The government does have a case, but what they do not have is Gupta on tape, or anyone naming Gupta on tape, as being a source of insider information.  The way to sway a jury, beyond the evidence, is to portray the person sitting on trial as either a devil or saint; a devil guilty, a saint innocent.  According the NY Times, during one discussion outside of the presence of the jury on the first day of trial, Naftalis was warned by Judge Jed Rakoff to not get into too much detail about Gupta’s record of philanthropy (saint).  This, Naftalis argued, would go to discredit “greed” as being a factor in the alleged crime. I think it is a fair point.

Rajat Gupta is a good person who came from humble beginnings and rose to be someone who was well respected in the business community.  He should get a fair trial and I believe that will happen. However, the government’s mosaic of Gupta as a source of inside information is countered by a defense of a man of intelligence, character, and integrity. Those fine characteristics of a person should not go away with an indictment alone, they must be tried in court.  I think Gupta has a good chance, but if Raj shows up, all bets are off.”

I started out being unsympathetic to Rajat Gupta, when the government first brought charges against him last year. At the time, I thought he would be one of many top business leaders who would be charged, and that Lloyd Blankfein, Geithner, and others higher up the food chain and more culpable for the financial crisis, would follow.  Now that I’ve seen that Gupta is going to be served up as the main course for the public to devour, I’ve become a bit suspicious of the bona fides of the prosecution.

Insider-trading, whatever you think of it, is a very tangential part of the financial crisis, except in so far as it was partly the means by which some of the major firms were naked-shorted.

Goldman Sachs, as we’ve seen, is central to that story.

But the Gupta trial casts Goldman as a victim and GS chief Lloyd Blankfein is actually testifying against him. That’s the man whose confab with Timothy Geithner, NY Fed Reserve chairman, in the same month that Gupta is supposed to have tipped of Galleon’s Raj Rajaratnam (September 2008), constituted a scandal several orders of magnitude greater than the alleged shenanigans of Gupta.

Blankfein, surely more culpable, than Gupta or Rajaratnam, is getting good PR, from this trial, as he did from the Rajaratnam trial last year.

So what’s really going on here?

I don’t want to get into the larger picture in this post, except to say it’s all part of a strategy of rescuing Goldman from any serious damage and of redirecting energy away from the most dominant members of the financial world to the relatively new upstarts – the Indians.

In “Breaking India,” Rajiv Malhotra, a former tech entrepreneur turned author, has written eloquently about the dual strategy pursued by the US government in building up India (through the business schools and management networks), while simultaneously breaking it down (India-bashing from leftist journalists, activists, and academics, including the incitement of Dalit activism against India itself as a symbol of Brahmin supremacism).

In a sense, the dual strategy has ended with the Gupta trial and now the object seems to be solely to break the country. The media portrays it with increasing negativity, directing popular anger toward South Asian financial networks, to the exclusion of others,  and, specifically, away from the Anglo-Jewish elites who actually caused the financial crisis.

The new comers might have profited from it illicitly but in no way were they the prime movers of the global heist.

With that quick sketch of the general context, here are the particulars that I find striking for a criminal case pursued with so much fanfare and media attention:

1. There is no “smoking-gun,” whatsoever. That’s right. Zip. Nada. There is not one tape in the over 2000 (TWO THOUSAND) tapes held by the prosecution that either shows Gupta passing on a  tip to Rajaratnam or names Gupta as someone who tipped off RR.

Think about it. It’s pretty incredible. The government was secretly investigating Rajaratnam’s network as far back as 2007, with FBI wire taps over a period of at least 11 months between March and December 2008.

And not one of those conversations, intimate, unsuspecting conversations, actually contains a concrete tip or refers to Gupta as a tipster. There is actually only one Gupta conversation with Rajaratnam in the whole file – on July 29, 2008.

It’s based on this and other circumstantial evidence that the government rests its case that Gupta was passing on confidential board information to Galleon between March 2007 and January 2009, charging him with five counts of securities violations and one count of conspiracy, potentially opening him up to 105 years in prison and $25 million in fines.

I know if someone had taped me for over a year,  there would be a lot of things I’d find it hard to explain. Not because I’m up to anything wrong. Not at all. But simply because I blurt out my feelings in private. It’s the way I am. Sometimes, those are just passing feelings and quite meaningless to anyone who knows me.  I once told my family I wanted to raise a tiger cub in the garden; I’ve called friends names I’d rather forget; I’ve made forceful political statement that I wouldn’t think of venting on my blog. I say things that aren’t even accurate, just because it’s a casual conversation and I’m not thinking, or because I’m thinking of something else or…or…any of a dozen reasons.

And guess what, I’m not sorry I do. I have a right to.  Expressing your views, whether momentary feelings or long standing opinions, is what you do with your friends in your home.

It’s called privacy. If you can’t be free to vent feelings or express opinions, however unpleasant they might sound to a third party (third parties shouldn’t be listening, should they?), what the heck is privacy for?

But drawing conclusions from the haphazard, half-spoken chitchat of people’s private conversations is another things. Private chat is difficult to interpret, unless you get explicit repeated statements that are black and white. Everything else is open to interpretation.

2. There is no evidence that Gupta profited from the information he’s alleged to have passed on. This again is a big gaping hole in the government’s case. The essence of illegal insider-trading is that the wrong-doer materially benefited and that he passed on the tip with that benefit in his mind.

It’s a “mental state” crime, which also makes it hard to prove.

No profit, and bingo, half the case has crumbled.

Now, given that, why would Rajat Gupta turn down a civil trial, where the maximum he faced would have been fines and bans from sitting on corporate boards, and go in for a criminal trial, where he could go to jail? There’s only one reason. An administrative hearing has a lower standard of proof and a judge who can make up his mind as he wishes. A criminal trial gets a jury and demands “beyond a reasonable doubt” as the standard.  But it’s also riskier. Juries can go one way or other.

Here’s my point. The only defendant who would take that kind of risk would be a defendant who thought he was innocent.

So what’s the government doing without these two major elements of a successful insider trading case?

It’s trying to build a circumstantial case, putting together a kind of “mosaic” of the evidence, as someone has noted. It’s calling witnesses to show that while Gupta might not have literally profited from his tips, he indirectly profited, because he was invested with Galleon and he intended to do even more business with it in the future. The tips were credit toward that future return.

The prosecutions’ second line of argument is to suggest that Gupta and Rajaratnam were such close friends, that Gupta had to have passed on tips, because that’s what buddies do.

But, here’s another thing. The government (SEC) didn’t let Gupta see settlement documents with cooperating witnesses against him.

That means the defense doesn’t get to learn the terms on which the government struck deals with cooperating witnesses against Gupta.

That’s pretty significant.

Fortunately, the judge did force the FBI  to review documents (notes) from the SEC’s civil investigation, which overlapped the FBI criminal case (Brady material), and it did force them to show the defendant exculpatory evidence in them.

Thirdly, the government is trying to piece together the timing of the calls to show that it must have been Gupta who put through the call just before closing on Sept 23, 2008, to tell Rajaratnam that Warren Buffet was going to invest in Goldman Sachs. That tip is the piece de resistance of the trial, because Rajaratnam turned around and managed to squeeze a trade through before closing that netted around $800,000.

The Buffet investment information was, of course, confidential, as Lloyd Blankfein testified, as was the information about a Goldman Sachs audit committee meeting, whose results are alleged to have been passed onto Rajaratnam (March 2008).

What Blankfein didn’t testify and someone should have asked was if Blankfein and everyone else in the firm had actually kept the information confidential, as they expected Gupta to. Blankfein does remark that there was a lot of speculation going on about the audit committee findings.

Does that mean there were loose lips all over the place?

Because if there were, then the case against Gupta founders again.

Because then, how do we know who it was that tipped off Raj Rajaratnam?

The answer is, we don’t.

And, in fact, so far the defense has found at least two (and possibly three) other people at Goldman, lower down in the food chain, who were passing on tips to Galleon’s chief. One of those, David Loeb, head of Goldman Sachs’ Asia Equity Sales In New York, made two dozen calls to Galleon, some of them on the same day Gupta is alleged to have tipped the hedge fund off.  Besides Loeb, an analyst Henry King, as well as a Mr. X , have also been mentioned as tipsters. King, a high profile tech analyst known for his spot-on calls, is alleged to have been leaking information from Taiwanese manufacturers to US investors.

Then there’s Anil Kumar, a colleague at McKinsey, who turned informant for the government, in the Rajaratnam case. Kumar testified that Rajaratnam often played off his sources against each other so they would be work harder to get a pat on the head from “Big Raj.” One of the tipsters Rajaratnam played off against Anil Kumar was the “insanely hot” blonde tipster, Danielle Chiesi, whose antics eventually sank the good ship Galleon.

So now we know that Rajaratnam has a profile of manipulating  people and that he could ‘have been trying to get Anil Kumar to do more for him (remember, in the call with Gupta he complains that Anil Kumar isn’t earning the million dollars a year he was giving him). One way to do that would be to hint that he was getting information from someone else, even if that someone else was simply chatting with him and wasn’t actually tipping him.  There’s another angle.  If Anil Kumar could wear a wire and rat out Rajaratnam,  what are the chances he wouldn’t agree to anything else the Feds wanted from him? Maybe he cut a deal to point the finger at someone higher up.  Gary Naftalis, Gupta’s lawyer seems to be thinking along those lines, in demanding to see the SEC’s deals with cooperating witnesses.  Anyway, Kumar is no pillar of integrity and his accusations should be taken for what they’re worth.

What’s also strange….passing strange….is that David Loeb, whom the government caught on tape passing on tips about Intel, Apple, and Hewlett Packard to RR,  has not been charged at all.

Yet, Loeb called Galleon traders twice on September 23, 2008, including once  at  3:07 pm. That’s the same day prosecutors are trying to pin the Buffett tip on Gupta.

I wonder when the other call was; reports don’t specify.

Loeb also made four calls to Galleon’s Adam Smith on October 23, 2008, the same day that prosecutors say Gupta told Rajaratnam that Goldman Sachs would lose almost two dollars a share.

That’s pretty damning. And it’s on tape.  But Loeb hasn’t been fingered.

Instead, the government has gone straight for the jugular of Rajat Gupta.

You have to wonder why.

Leonard Cohen: Joan Of Arc

A great libertarian figure and my favorite historical character…..in a song by one of my favorite song-writers.

Joan of Arc, by Leonard Cohen

Now the flames they followed Joan of Arc
As she came riding through the dark;
No moon to keep her armor bright,
No man to get her through this very smoky night.
She said, I’m tired of the war,
I want the kind of work I had before,
A wedding dress or something white
To wear upon my swollen appetite.

Well, I’m glad to hear you talk this way,
You know I’ve watched you riding every day
And something in me yearns to win
Such a cold and lonesome heroine.
And who are you? she sternly spoke
To the one beneath the smoke.
Why, I’m fire, he replied,
And I love your solitude, I love your pride.

Then fire, make your body cold,
I’m going to give you mine to hold,
Saying this she climbed inside
To be his one, to be his only bride.
And deep into his fiery heart
He took the dust of Joan of Arc,
And high above the wedding guests
He hung the ashes of her wedding dress.

It was deep into his fiery heart
He took the dust of Joan of Arc,
And then she clearly understood
If he was fire, oh then she must be wood.
I saw her wince, I saw her cry,
I saw the glory in her eye.
Myself I long for love and light,
But must it come so cruel, and oh so bright?

“Joan of Arc” as written by Leonard Cohen
Lyrics © Sony/ATV Music Publishing LLC