“Just because you do not take an interest in politics doesn’t mean politics won’t take an interest in you.”
Pericles, Greek philosopher, orator and general of renowned honesty, c. 495 – 429 BC.
All my life, I’ve been told never to mix politics and business. Sound advice, I’d say for most businessmen, but I’m not in an ordinary business. You cannot attempt to explain the reasons for buying gold and silver without getting into politics. The reasons for owning gold and silver are as much political as they are economic. If you know where a nation’s politics are headed, you know where its economic policies are headed.
No one can escape being impacted by their nation’s political policies, programs and means for paying for those programs. That’s why I comment so often about Ron Paul’s positions on where this country is headed and what we should do regarding the challenges we face.
Ron Paul clearly has shown a complete understanding of Austrian economic theory. A pillar of Austrian economic theory is that for a nation to have a sound economic system, it must have sound money. Ron Paul unabashedly says that our monetary system should be based on gold.
More precisely, Ron says our money should be gold, not a currency redeemable in gold. Actually, he says that both gold and silver could be monies, with them circulating alongside each other but not at a fixed exchange ratio.
When the government gets involved in the currency, such as making a piece of paper redeemable in gold (or silver) at a certain price, that price can be changed, leaving room for the government to devalue the currency, which, invariably, cheats the people.
I can’t remember reading or hearing about an instance where a country up valued its currency, that is, changed the redemption rate so that it took less currency to obtain a quantity of gold or silver. The principle of sound money is so embedded in Austrian economic theory that the renowned Austrian economist, Joseph T. Salerno, just released a 672-page tome titled Money: Sound & Unsound. This book is not for casual reading, but is a study of money in itself.
A snippet about Money: Sound & Unsound from mises.org, where the book can be bought:” . . . money is either absolutely sound (meaning, part of the market order) or it is headed on that slide toward destruction.” I don’t think we have any difficulty knowing where the dollar is headed, and that’s why I openly support Ron Paul and talk about his political views.
Dr. Paul will be in Phoenix this weekend for Campaign for Liberty events. Last year, my wife and I hosted the fund-raising reception at our home. This year the reception will be held in the Grand Ballroom at the Phoenician, this Friday, November 19, starting at 5:45 p.m. The cost is $200 a ticket; for $215 you become a member of Arizona’s Campaign for Liberty, which I highly recommend. Campaign of Liberty is one of the outgrowths of Ron Paul’s 2010 run for the presidency. Here’s where you register and pay online for tickets to the reception.
Notice: Campaign for Liberty website has been hacked. (Can you say “Vast left-wing conspiracy.”?) You may not be able to register online. If you want to attend but cannot register online, show up at the door with a check made payable to Arizona Campaign for Liberty for $200.
I hope to see as many CMIGS clients as possible there. I expect to arrive long before the 5:45 pm starting time, talking with clients who also arrive early.