The growing readership of Obscene Prophets indicates that I am in good company. That an increasing number of people are turning to an alternative world-view, just as I did several years back. In fact, the ideals that tug at m heart and the philosophies that guide my mind are shared by a vast number of individuals. Not surprising. These ideals and philosophies are fundamental to human nature. And more and more of us are awakening to these principles. For one reason only: Necessity.
I speak of the fundamental desire for life, liberty and the pursuit of happiness. And the organic constructs of civilization that we treasure: Those institutions that enable these desires. And the fundamental instinct that we all share to protect them.
One of our European readers once commented that I am "oh so American." It was a compliment. But there was an air of socialistic superiority in the tone. An air that I find revealing. That I share these fundamentals with everyone. Regardless of their political orientation or national allegiance. So not so exclusively American at all. But universal.
Americas founders had these same instincts. And, while far from perfect, the institutions they established have become a beacon to millions around the world. And increasingly these ideals have spread.
So what has prompted this patriotic rant? My sadness as to how far our great nation has strayed. And my hope that the fundamental tenets formalized by our founders are felt the world over. And the realization that we are nearing a point where the common desire for life, liberty and happiness is driving a growing constituency to action. Sometimes desperate. Sometimes well-considered.
I say our nation has strayed. But less so than other nations of the world. Centralization of authority has past the point where it can be sustained. Because it does not accommodate these basic human instincts. Too many individuals cannot pursue happiness. Centralized authority has compromised their liberties. To the extent that many are being deprived of life itself.
So what is to become of us? If these instincts serve us well, world events become almost too predictable. And we act, where necessary, to preserve our lives. Then our liberties. To achieve happiness for ourselves and for those we love. Those who recognize and deal with these fundamental instincts will build a new world. Those who do not listen to their souls will be swept away. By this growing mass of the free. Of the newly sovereign.
Many discount the hope that I express. But this hope can manifest itself on many levels. And serves those well by being accurate regarding global political and financial outcomes. No doubt my own expectations are tainted by my own life's experiences and resulting prejudices. There is one in particular. My bias towards honest money.
To fulfill our fundamental human needs in a civil society, a store of wealth is critical. This is the basis for our attraction to gold. And silver. In the eyes of the socialist Keynes, a barbarous attraction. Instinctive, yes. Barbarous, no. But virtuous and necessary to achieve happiness, to protect liberty, and ultimately to maintain the civil order necessary to preserve life. And once again, we can see that our founders recognized this. And dealt with by legislating the one crime deemed worthy of death. For those who debase the nations currency. A currency of gold and silver.
But if we were to line up all those who have had a role in debasing our monetary system and impose the ultimate penalty, there would be a flood of blood in the streets beyond biblical proportions. Since even Greenspan can no longer define money, and the ability to create money has been atomized and distributed throughout the financial system, we would have to drag most any one with wealth to the public square for execution. This past week alone would have seen the first of the managers of our largest mutual funds bound and paraded by the cattle cart load to satisfy the blood lust of their victims. And the desperate jaw flapping of the chieftains of the federal reserve reveals that they might not be all that far behind.
It is somewhat gratifying to visualize cries of guillotine for the most despicable of these criminals. After all, how many have been deprived of their retirement savings. And forced back into the slavery of debt. And how many, broken in spirit have died before their time. How many more will follow? But the peasants are unlikely to cry guillotine when the debasement is slow. Spread across generations, and it has been with the dollar. And obfuscated with a culture of dishonesty and denial.
However, at the margin, the veil of the culture has been pierced. The greed of those with monetary authority has gone to historic extremes. And growing numbers are in direct opposition to their absolute power over wealth. And these numbers continue to be bolstered by those that are harmed by their actions. Even without a logical framework for their anger, they understand at a fundamental level what needs to be done. And this is where my hope resides. For a restoration of a monetary system with a store of wealth that cannot be debased. Gold. And Silver.
The fundamentals of honest money are not new. Many visionaries have been crying in the wilderness over the past few decades. A few years back, I heard their cries. And gold became my personal store of wealth. But only as a defensive medium. A defense against the bursting of bubbles that has served me well. But not society at large. So far.
At some point gold will no longer be just a defensive store of value for the few. For the elite and the astute. The fundamental instincts of the masses will cause them to turn to gold. And a tipping point will be reached. Where gold will become a store of value with clout. With the capability to take the offense against those who have debased the monetary system. At some point. Some point soon.
So for those whose instincts drive them to take responsibility for their own happiness, gold will become the means. Should you wish to recover the wealth that has been taken from you by the debasers, buy gold and silver. Abandon those financial instruments and the institutions that have ceased to provide for your happiness: most stocks and bonds come to mind. And rob you of liberty: unfunded retirement plans including social security are good examples. And deprive you of your financial life: a major devaluation of fiat currencies has historically played this role.
And recognize that gold will ultimately act as a financial guillotine to those who do not honor it as a store of value. As it satisfies the bloodlust of those who have been deprived of their fundamental rights.