The Opportunity Costs of Our War in Somalia

The Opportunity Costs of Our War in Somalia

For more than two decades, the United States has waged a quiet, little-noticed air and special operations war across the Horn of Africa. If most Americans are unaware of this fact, that is no accident. The campaign in Somalia has been conducted so far from public view, and with so little meaningful debate in Washington, that its continuation today is treated almost as a bureaucratic inevitability—a policy in search of a justification, defended out of habit rather than necessity. For there is no rational reason for the United States to be bombing Somalia at all. The entire enterprise stands...

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The Imperial Tariff: How ‘National Security’ Became Washington’s Favorite Excuse

The Imperial Tariff: How ‘National Security’ Became Washington’s Favorite Excuse

As a libertarian commentator who’s spent years dissecting the bloated machinery of the federal government, I’ve watched with a mix of fascination and fury as the executive branch assumes powers that the Constitution explicitly reserved for Congress. The recent Supreme Court arguments on President Donald Trump’s tariffs—heard just a week ago on November 5—serve as a stark reminder of how far we’ve strayed from the Founders’ vision of limited government. Trump’s sweeping import duties, slapped on everything from Swiss watches to Mexican avocados under the banner of “national security,” aren’t...

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America Must Stay Out of Nigeria

America Must Stay Out of Nigeria

In the sweltering heat of a second Trump term, the ghosts of interventionist folly are stirring once more. On October 31, 2025, President Donald Trump took to Truth Social to declare Nigeria a "country of particular concern" for religious freedom violations, alleging an "existential threat" to Christianity there. By November 1, the rhetoric had escalated: Trump threatened to halt all U.S. aid to Africa's most populous nation and ordered the Pentagon—now rebranded by the president as the "Department of War"—to prepare for "fast, vicious" military action. "If we attack," he wrote, "it will be...

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Trump and Xi Are Meeting Today: What Does this Mean for U.S.-China Trade?

Trump and Xi Are Meeting Today: What Does this Mean for U.S.-China Trade?

As the leaves turn in Washington and the chill of autumn settles over global markets, the United States and China have once again danced to the familiar tune of trade negotiations. On October 26, 2025, following two days of closed-door talks in Kuala Lumpur, Malaysia, negotiators from both sides announced a "preliminary framework" for a new trade agreement. This comes just ahead of an anticipated meeting between President Donald Trump and Chinese President Xi Jinping today in South Korea, where the outline is expected to be reviewed—if not finalized—amid the pomp of an economic summit. U.S....

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The Hunt Brothers’ Silver Corner, Revisited: An Austrian Reinterpretation

The Hunt Brothers’ Silver Corner, Revisited: An Austrian Reinterpretation

With silver recently touching record highs, now is the perfect time for looking back to the last time silver traded at such levels—for it is a highly instructive case study, particularly when reinterpreted through an Austrian lens. The story of Nelson Bunker Hunt, William Herbert Hunt, and Lamar Hunt, the Texas oil heirs who attempted to corner the silver market in the late 1970s, is often told as a tale of hubris, market manipulation, and regulatory salvation. Headlines from the era framed the Hunts as reckless speculators whose greed sent commodity markets into chaos and required...

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Americans Can Find Peace in a Multipolar World

Americans Can Find Peace in a Multipolar World

Among the torrent of publications continually inundating the policy community and reading public, few are worth reading—between banality and bad ideas, most would have been better left unwritten. A notable recent exception to this general rule, however, is Dr. Ivan Eland’s most recent offering A Balance of Titans: Peace and Liberty in the New Multipolar World, recently published by the Independent Institute. Eland, who spent years as a researcher, policy analyst, director, and commentator for the Congressional Budget Office, U.S. House Foreign Affairs Committee, Cato Institute, and...

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Libertarian Realism: Justin Raimondo’s Challenge to Empire

Libertarian Realism: Justin Raimondo’s Challenge to Empire

When the late Justin Raimondo, co-founder and longtime editorial director of Antiwar.com, wrote in 2011 that the anti-interventionist movement needed a “big picture” framework, he was attempting to distill decades of polemic into a theory of international relations. In his essay “Looking at the ‘Big Picture,’” he dubbed this framework “Libertarian Realism.” Though Raimondo never set down a book-length treatise, his insights remain an invitation for libertarians to articulate a systematic foreign policy rooted in their own intellectual traditions. At its core, libertarian realism rests on two...

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The Federal Reserve, Interest Rate Suppression, and the Reach for Yield

The Federal Reserve, Interest Rate Suppression, and the Reach for Yield

With Jerome Powell and the Federal Reserve beginning a cutting cycle, it is worth revisiting why the Feds manipulation of interest rates is not a harmless (if misguided) technocratic tool for attempting to “fine-tune” the economy, but is instead a source of deep distortion. This is because, as the Austrian School of economics has long argued, that artificially suppressing rates not only misleads investors but creates systemic fragility. One key mechanism by which this occurs is the phenomenon of “reaching for yield.” When safe assets offer little return because monetary policy holds the...

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