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REQUIEM

Below are the two final essays to be posted on Allegiance and Duty Betrayed. The first one is written by a friend -- screen name 'Euro-American Scum' -- who, over the past four years, has been the most faithful essayist here. He has written about everything from his pilgrimage to Normandy in 2004 to take part in the 60th–year commemoration of the invasion, to his memories of his tour in Vietnam. His dedication to America’s founding principles ... and those who have sacrificed to preserve them over the past 200+ years ... is unequaled. Thank you, E-A-S. It has been a privilege to include your writing here, and it is a privilege to call you my friend.

The second essay is my own farewell. And with it I thank all of the many regular visitors, and those who may have only dropped in occasionally, for coming here. I hope you learned something. I hope a seed or two was planted. But, even if not, I thank you for stopping by ... 25 March, 2010

2/06/2008

Minor Super Tuesday Musings

dollar.jpg

I wrote the following e-mail last night to a friend with whom I have been discussing investing in precious metals, and I forwarded it to a few other ‘what’s-happening-to-the-economy’ friends this morning, one of whom suggested posting it here on AADB, so I am, with a few additions. (They don't call me the queen of run-on sentences for nothing.)

I cannot bring myself to discuss the current sorry state of what passes for the American ‘election process’ just now -- for lack of time to address the subject in the manner it deserves, and for at least current lack of interest in doing so, because the entire effort seems pretty much futile just now. The brief message below simply deals with a very small sliver of what passes for our economy these days. I hope to add more in the near future. In the meantime, I’m sure many of you are capable of adding much more in-depth commentary on the broader economy, and I hope you’ll take the time to do so.
__________________________________

‘Super Tuesday’, February 5th, 11:29 PM:

Put plainly and succinctly (and from the perspective of someone who is by no means an expert in investing, in precious metals, or anything else): ever since I decided to stop trusting the 'experts' and began serious personal investing on my own -- maybe fifteen years ago -- I have believed in owning a significant amount of physical gold, silver and platinum.

I see the future of this country in terms that will change from a current misty grey to a very unfortunate black. Our economy -- and that of the world, whose foundations rest in ours, like it or not -- is based on conveniently-created mirages, crafted by men whose focus is on personal and ideological power. They no longer bear any allegiance to our Founders' vision, or to real economic theory/free market theory.

People talk about the fluctuation in the price of precious metals. That fluctuation is discussed in terms of American dollars. Yet the American dollar is on the verge of worthlessness (maybe in our lifetime -- maybe in our children's -- but worthlessness nonetheless), simply because its value rests in the hands of men who do not respect industry, or work ethic, or genuine success, or honesty itself. They respect power. And it is backed by a government that is corrupt to the core.

There will come a day when no amount of dollars will buy a person what he needs. And yet something else will have to be of value. I believe such value will be found in two categories: (1) the natural resources we actually need in order to live, and (2) the ability to create, repair and invent ('make do') -- representing a reversion to 'the old (and in many ways better) days'. And where the actual 'buying' of what we need to survive becomes necessary, we will be forced to resort back to a 'currency' that has been deemed of value in historical terms -- high on that list being precious metals. After all, our dollar, when it had any intrinsic value, was backed by such metal.

I believe that much more than a recession is over the horizon -- maybe not in our lifetimes, but at least in our children's -- and that recovering from that 'more than a recession' will be brutal, if possible at all.

We had the wherewithal of character to recover from the Great Depression, but we were a different people back then. And, even more importantly, so were our leaders. Americans in the 30s also had the good fortune not to have an enemy -- obsessed, bloodthirsty, gaining strength every day, and not contained within any borders, nor kept outside of our own -- breathing down their necks. Had they faced such a deadly threat, they at least knew their leadership would genuinely despise it, identify it, keep it at bay, and attempt to eradicate it.

As a people, we are without integrity, without 'grit', and without a knowledge of our roots. We want to be entertained more than we want to do what is necessary to survive as a free people. And our leadership doesn't give a damn about America's (as our Founders conceived her) survival. They see our Founders' vision, and the America that existed up until fifty years ago, as something that requires covert 'fixing' -- so that a global elite can call all the shots and reap all the rewards made possible by those of us still willing to work.

I just came home from my office. In addition to working there, I purposefully insulated myself from the political news of the day. Turned on Fox(what passes for)News when I arrived home, and realized that we have indeed underestimated the ignorance of the American electorate. We're daily taking major steps toward that line of demarcation known as the point of no return.

It's a sad day in America.

~ joanie

16 comments:

daveburkett said...

You paint a really bleak picture Joanie, but I can't disagree with the meat of it.

When people talk about the possibility of a looming recession, they aren't looking at the big picture. It's a major collapse that we're facing if we don't start electing leaders who understand fiscal responsibility, and the odds of that happening don't even exist right now.

Talk about "recession" is like talk about treating the sniffles in a patient who's suffering from cancer.

Anonymous said...

"After all, our dollar, when it had any intrinsic value, was backed by such metal."

Amen. Taking us off the gold standard was a fatal error.

proudpodunknative said...

We had the wherewithal of character to recover from the Great Depression, but we were a different people back then.

You can say that again, and that explains why the socialists have gained the upper hand in government, and they're not going to let go.

We want a nanny state because we can't do for ourselves anymore. I heard Hillary say last night that "all Americans have to share in America's prosperity" which spells out socialism if anything does. And we're buying into it.

Anonymous said...

When Nixon took us off the gold standard he committed a much bigger crime than Watergate.

John Cooper said...

Richard Nixon - wasn't he the first prototype for a John McCain presidency?

Took us off the gold standard, gave us wage and price controls, saddled us with the EPA, the Clean Air Act and Endangered Species Act, banned DDT condemning hundreds of millions to death by malaria, and oh yes...

...gave us "Peace With Honor" in Vietnam.

John Cooper said...

Since I'm the resident Ayn Rand scholar, allow me to add what she wrote about the end of American civilization back in 1957:

Then you will see the rise of the men of the double standard - the men who live by force, yet count on those who live by trade to create the value of their looted money - the men who are the hitchhikers of virtue. In a moral society, these are the criminals, and the statutes are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law - men who use force to seize the wealth of disarmed victims - then money becomes its creators' avenger. Such looters believe it safe to rob defenseless men, once they've passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

"Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed. Money is so noble a medium that it does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot.

"Whenever destroyers appear among men, they start by destroying money, for money is man's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, and equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: 'Account overdrawn.'


--from Atlas Shrugged, by Ayn Rand

robmaroni said...

Cooper, your assessment of Nixon is certainly better than the media's. They focus on the coverup of a third rate burglary. You focus on his REAL crimes. Good job.

john galt said...

I don't always agree with Rand's philosophy, but this excerpt is sheer brilliance.

As is your analysis, Joanie.

Steve Bannister said...

You paint a gruesome picture, Joanie, but it isn't out of the question so long as we keep electing people to national office who don't have the good of the country at heart. November doesn't hold much promise for a change of direction.

Brian Spear said...

Here's a very interesting comparison of the markets, metals and natural resources over the past 8 years:

http://www.zealllc.com/c2008/Zeal020108A.gif

smithy said...

Joanie, here's a very good interview with Thomas Sowell on "Economic Facts and Fallacies". I think you'll agree with most of what he says:

http://www.rightwingnews.com/mt331/2008/02/an_interview_with_thomas_sowel.php

First_Salute said...

Financial Times
Friday, Feb. 8, 2008

by Chris Flood in London

Wheat price surge raises inflation fears

[EXCERPT]

"A fall in US inventories of wheat to a 60-year low drove prices of the grain sharply higher on Friday to a fresh record, intensifying fears of rising global food price inflation...

Record wheat and soyabean prices mean these crops are expected to win land at the expense of corn cultivation in 2008. The USDA will update the market on farmers’ planting intentions in March."


First_Salute
Feb. 8, 2008

First_Salute said...

NEWS ...

JapanToday.com

"Toyo to raise tire prices by 60% in U.S."

Saturday, Feb. 9, 2008

[EXCERPT]

"OSAKA — Toyo Tire & Rubber Co said Friday, it will raise the prices of automotive tires for the North American market by up to 60% on March 1, due to rising raw materials and fuel prices."

First_Salute
Feb. 8, 2008

John Cooper said...

Bridgestone too, but only 8%. The difference is that Bridgstone manufactures their tires in a low wage country (Tennessee).

John Cooper said...

Reply to: john galt

I don't always agree with Ayn Rand's philosophy either, and I also understand that many folks have a problem with her atheism.

From your screen name, though, I sorta' figure you've at least read Atlas Shrugged. (grin)

First_Salute said...

NEWS ... BUT NOT NEWS IF YOU WORK TO PAY YOUR BILLS ...

BusinessWeek.com

"Economists Rethink Free Trade"

by Jane Sasseen
January 31, 2008

[EXCERPT]

"[C]oncern is rising that the gains from free trade may increasingly be going to a small group at the top. For the vast majority of Americans, Dartmouth's Slaughter points out, income growth has all but disappeared in recent years. And it's not just the low-skilled who are getting slammed.

Inflation-adjusted earnings have fallen in every educational category other than the 4% who hold doctorates or professional degrees. Such numbers, Slaughter argues, suggest the share of Americans who aren't included in the gains from trade may be very big. "[That's] a very important change from earlier generations, and it should give pause to people who say they know what's going on," he says."

* * *



First_Salute
Feb. 9, 2008