After September 11th, Rudy Giuliani was America’s mayor. He even won Time Magazine’s Person of the Year for his leadership in the wake of the attacks. Today, he may be Mujahadeen-e-Khalq’s (MEK) Mayor.

After closing at 4.26 percent in January this year the yield on the 10-year US Treasury Bond settled at 4.70 percent at the end of August.

After Lexington and Concord, Congress had a war on their hands and needed a way to finance it. The Americans were in large measure tax rebels, so taxation of their own would have to wait. After giving some thought to borrowing, Congress decided instead to call upon their old friend, the printing press.

The colonists had a long history with paper money. They had been inflating since the 1690s and had all but driven silver specie out of circulation. In 1751, Parliament banned further note issues in New England, and by 1764 extended the prohibition to the rest of the colonies.

The modern state is often described as an institution that coordinates social life. It provides legal, educational, financial, security, healthcare, and countless other services. The question is not whether these functions exist, but who has the final authority to define, regulate, and enforce them. Agustín Toptschij’s recent analysis of the state begins precisely at this point. He argues that the distinctive problem of the modern state is not merely its size but its claim to be the ultimate source of law.