Over the years I’ve learned that when it comes to religion, politics or investing in precious metals – your chance of changing someone else’s opinion is slim-to-none and a waste of your time. We succeed by preaching to the choir! No one is more committed than a true “Goldbug.” No one except someone who isn’t.
Your friends and family members who are bullish on the economy, the stock market and future of the U.S.A. have the same conviction in their beliefs as we do in ours. The only “constant” is a strong belief – but their belief is the opposite of ours. It really is so obvious that sometimes I forget about it.
I was talking to my friend Backwoods Jack the other day and he said his boys are in stocks “for the long-haul” and they aren’t worried about a pullback or major correction because they don’t want to pay the capital gains taxes and try and guess when to get back in. They will sit and wait for any market correction.
Do I think that is silly or irrational? My first reaction would be to say “yes!” But the truth is, that is exactly what I would tell someone about my position in gold and silver. I am in it “for the long-haul.” I don’t want to pay capital gains taxes and be left sitting on the sidelines when the market turns around.
The only difference between me – and the Backwoods’ kids – is that I see a much different ending to the game than Backwoods’ boys do. They don’t believe that the dollar will crash. They can’t imagine that the U.S. will experience another Great Depression, or worse. They don’t believe that hyperinflation is at the doorstep.
The difference between us is both small and large. My rationale for holding onto my assets is similar to theirs. The asset we chose to hold onto, and our faith in the dollar and the economy, are opposite. And guess what? Neither of us will be convinced otherwise.
Yesterday I received a phone call from a man looking for a donation to the Republican Party. I am usually polite, but this time I just responded the way I really feel. Before he could utter a word I said, “Frankly, I don’t have any use for either party. Both of them have X@3?& things up.” He was so shocked, he said, “Thank you,” and hung up. Down here in Miami the sheer number of un-solicited phone calls is incredible. I don’t know why, but we get only a fraction of these types of calls (especially for donations) compared to Minneapolis.
How dare I be so forthright! Well, “the good old days” are gone. America, as good as it is, ain’t what it used to be. And if you want an excellent example of how much things have changed in the last half a dozen decades, here is an interesting little story about our last “Great President.”
A piece of history that reminds us how, in 60 years, loyalty and propriety can be all but destroyed in politics.
This has been around before but it is true and deserves to be repeated. Remember this the president that served so well to bring the war to an end with the atomic bomb on Japan.
Thought you’d enjoy this!
It’s one you want your Children and Grandchildren to read. They won’t believe this happened, but it did.
Harry Truman was a different kind of President. He probably made as many, or more important decisions regarding our nation’s history as any of the other 32 Presidents preceding him.
However, a measure of his greatness may rest on what he did after he left the White House.
The only asset he had when he died was the house he lived in, which was in Independence Missouri .
His wife had inherited the house from her mother and father and other than their years in the White House, they lived their entire lives there.
When he retired from office in 1952 his income was a U.S. Army pension reported to have been $13,507.72 a year.
Congress, noting that he was paying for his stamps and personally licking them, granted him an ‘allowance’ and, later, a retroactive pension of $25,000 per year.
After President Eisenhower was inaugurated, Harry and Bess drove home to Missouri by themselves. There was no Secret Service following them.
When offered corporate positions at large salaries, he declined, stating, “You don’t want me. You want the office of the President, and that doesn’t belong to me. It belongs to the American people and it’s not for sale.”
Even later, on May 6, 1971, when Congress was preparing to award him the Medal of Honor on his 87th birthday, he refused to accept it, writing,
“I don’t consider that I have done anything which should be the reason
for any award, Congressional or otherwise.”
As president he paid for all of his own travel expenses and food.
Modern politicians have found a new level of success in cashing in on the Presidency, resulting in untold wealth.
Today, too many in Congress also have found a way to become quite wealthy while enjoying the fruits of their offices. Political offices are now for sale (ie. Illinois).
Good old Harry Truman was correct when he observed, “My choices in life were either to be a piano player in a whore house or a politician. And to tell the truth, there’s hardly any difference!”
We should have cloned him!
Gold has finally climbed above its 200-day moving average.
Here is today’s gold chart. Note the similarities (the green line, the red line and the blue line). Are Algo’s controlling the price? Looks like it to me.
Here are a few comments from Paul Craig Roberts recent article, Is The US or the World Coming to an End? It will be one or the other. You can read the entire article in the Zero Hedge section of today’s newsletter. It furthers the views recently presented by all of the Miles Franklin writers.
Is Roberts a bit extreme in his viewpoint? Probably not, but you certainly don’t want to be on the wrong side of this if it comes to pass. (This is exactly what I am talking about with my earlier example of my views vs. Backwoods Jack’s kids’ views – and why I choose not to invest in dollars or stocks).
Paul Craig Roberts
April 9, 2014
2014 is shaping up as a year of reckoning for the United States.
Two pressures are building on the US dollar. One pressure comes from the Federal Reserve’s declining ability to rig the price of gold as Western gold supplies shrivel and market knowledge of the Fed’s illegal price rigging spreads. The evidence of massive amounts of naked shorts being dumped into the paper gold futures market at times of day when trading is thin is unequivocal. It has become obvious that the price of gold is being rigged in the futures market in order to protect the dollar’s value from QE.
The other pressure arises from the Obama regime’s foolish threats of sanctions on Russia. Other countries are no longer willing to tolerate Washington’s abuse of the world dollar standard. Washington uses the dollar-based international payments system to inflict damage on the economies of countries that resist Washington’s political hegemony.
Continue reading on Information Clearing House.info.