Go Peter!

These senatorial and gubernatorial elections in the US in November sure will be interesting to watch.  There are already some fascinating races taking shape as the pulse quickens for the slug fests between Dems and GOPs come winter.  But, in truth, the really spicy elections are where some pretty well pedigreed libertarians are making waves.

Rand Paul, son of Ron Paul the famous Congressman from Texas who would like to abolish the Federal Reserve, has already won the Republican primary seat in Kentucky.  He now just needs to beat the Blue Democrat in what is usually a pretty Red state.  That would be another huge victory for liberty in the US and the world.  That Rand Paul has stormed into contention with some pretty alternative views is a sign of a) just how fed up people are with the boring old establishment hacks (of which one Barack Obama pretended not to be a part but in which he is actually deeply entrenched), and b) how far the Tea Party movement has come in its flashy resurgence since the Obama-Pelosi-Reed three-headed monster began inflicting insanity upon the USA.

Of course one drop of sanity in Kentucky doth not an ocean make, and panning over the rest of the US one continues to be filled with a due sense of dread.  Stock-standard Republicans may win some seats from the Dems (not sure it will be enough for a senatorial GOP majority though), but does America really need more stock-standard Republicans?  The answer is no.  Stock-standard Dems and GOPs have collectively been running US Inc into the ground for decades.  Why would they stop now when they’re doing such a good job?

It’s a pity there aren’t more notable success stories for the cause of freedom in the run-up to November as there has been in Kentucky.  Unfortunately, while the tide is definitely rising, there needs to be far more electable libertarians running for office than there currently are.  Those that are running are having a tough time.

The most conspicuous of the struggling band of brothers and sisters fighting for the cause is Peter Schiff.  If you don’t know who the Schiffster is then you should probably get Googling.  Few individuals have generated more You Tube hits in aggregate than Peter Schiff, especially during the financial near-meltdown-bailout-fiascoof 2008/09.  Peter Schiff has been well known in libertarian circles for a long time, but as far as the mainstream is concerned, 2008 marked his coming of age.

Schiff has used to good effect his celebrity and excellent forecasting track record as part of his marketing shtick.  The man appeals to lovers of freedom.  He wants small government, an end to the Fed and current fraudulent monetary system, much lower taxes, eradication of government debt, and no more expensive and wasteful wars overseas.  He runs a successful investment company called Euro Pacific Capital, a fund that is fundamentally fully diversified out of the US dollar, which Schiff believes is going to crash.  He is the author of 3 top-selling books on investing and economic turmoil and simple but powerful concepts in economics.  He also has a pretty good libertarian pedigree, although perhaps a somewhat checkered one, what with his father, Irwin Schiff, having currently served 7 years of a 13 year sentence for tax evasion on principled grounds.  Irwin Schiff also has had the honour to have testified before Congress in 1968 about why the US should not de-link the dollar from gold.

Peter has boxed more savvy than his dad.  No doubt he holds similar tax views, but also knows that paying his dues to Uncle Sam keeps him out of prison, which keeps him effective and able to influence the political system for good.

But there’s a problem for Mr. P Schiff.  He’s running for senate in Connecticut, hedge-fundville of the US of A.  That means he’s operating in big-money circles.  Now that’s usually great for a candidate, but in Schiff’s case, on most issues he’s running contra to the received wisdom of the anointed fund management and political crony class.  The Connecticut Republican establishment has given Schiff a hard time this year as he made a play to be the GOP man come November.  Closing ranks, the powers-that-be at the state Republican convention in May decided to shun this libertarian outsider and throw their chips in with the political equivalent of a circus freak with opinions.  Linda McMahon is the anointed darling of the blinkered Republican elite in Connecticut.

Say, ever heard of Vince McMahon?  C’mon, admit it, you have haven’t you?  Yip, it’s the wrestling guy who releases insane verbal tirades on WWE every week.  Vince McMahon, WWE boss, wrestling ‘champion’, bodybuilding freak, entertainer of stupid people, and husband of Linda McMahon.  Linda and Vince founded, owned and ran WWF and then WWE from its inception in 1980 to 2009.  They built one of the biggest sports entertainment empires of the past 30 years.

If you’ve ever seen Vince McMahon on TV you’ll know the man is a real piece of work, both on and off screen.  Linda opted for the lower profile role in WWE, but she too had her share of onscreen time about a decade ago as the Raw!/Smackdown! soap-opera-on-roids unfolded in ever more bizaar layers of hedonistic sludge.  The thought of Vince McMahon as First Senatorial Man of Connecticut is more than a little disturbing, especially when one of the great voices of economic sanity of our times is left, how shall we say, outside the ring.

From the utterly weird world of professional faking to potential Capitol Hill politics in 24 short months.  It certainly has been a whirlwind for Linda McMahon.  Of course it does help when you can fund your own campaign to the tune of $50 million.  Who needs actual grassroots popularity when you can buy your own way to the top of the GOP pile?

Schiff has had to do it the long, hard way, but perhaps he would have it no other way.  After being shunned at the Connecticut GOP convention in May by not garnering more than 15% of delegates’ votes, Schiff has had to hit the streets and towns and suburbs whipping up the grassroots support he knows he has.  State rules state a senatorial candidate shunned at the convention may only gain a place on the ballot at the GOP state primaries on August 10 if they produce at least 8,268 confirmed and authenticated signatures from registered GOP members residing in Connecticut.

Just a few weeks ago Peter Schiff’s candidacy was dead in the water.  Having been ‘wrestled’ out of the running by the GOP old boys club, he has looked in need of a visit from the Undertaker.  Then, on Monday 21 June 2010, Peter Schiff produced for the Secretary of the State of Connecticut’s Office 8,697 authorised signatures.  Schiff actually got 12,500 signatures, but 30% disqualified on technicalities.  By most objective measures, Schiff did pretty well to get this done by the deadline, especially considering his funding is chicken feed compared to mainstream candidates.  As his campaign so aptly said, no doubt directed at McMahon and the crusty GOP elite, “Schiff Happens”.

There was a third candidate in this drama, Rob Simmons.  He threw in the towel after the May convention when McMahon won the popular vote among delegates.  Perhaps Vince McMahon also gave Simmons a nasty-eyed glance just to let him know competing with the McMahon’s means you’ll get politically body-slammed?  Either way, with Simmons opting out, Linda McMahon has been coasting to the finish line and was set to be the only candidate on the GOP bill come August 10. 

On Monday Peter Schiff just rained on McMahon’s parade.  He did the wrestling equivalent of flipping out of the hold just before the ref slapped his hand down on the canvas for count three.

Now, lovers of freedom everywhere will be hoping he can be McMahon’s Heatbreak Kid and face off against the Dem candidate and Connecticut Attorney General, Dick Blumenthal.

The Connecticut GOP race just got competitive.

Go Peter!