Jim’s Quote of the Day:

“Our currency’s fiat status is old news; it’s been completely unfettered from the discipline of the gold standard for nearly forty years. A gold standard is one of the things that keep governments in check. Without it, governments tend to do really evil and stupid things…like setting up a central bank that creates “money” at will, simultaneously destroying the savings of the citizenry and subsidizing unproductive businesses, practices and people. Okay, now this really is starting to sound familiar

The bad news: Our currency is probably going to collapse completely and we are probably seeing the very first days of a very long, very severe economic depression. These things happen. They happen because people think that there is something magical about voting, that it can repeal the laws of physics and that despite the old adage, one really can get something for nothing. Or at least one can simply vote what’s in a neighbor’s pocket into one’s own. It’s like magic.

Before you know it, every humble republic gives way to a society of freeloaders, nannies, connivers and bums. One set of folks makes lifelong careers out of telling independent adults what to do with the fruits of their labor. And each person in the populace expects to get at least a few things at the expense of some other portion of the populace: Housing, healthcare, food… And they don’t stop at trying to pick each other’s pockets either. At fairly regular intervals a nation will cast a covetous eye abroad at another nation’s bounty.

It’s entirely natural for people to want more than they currently have…but actually believing one can have as much as one wants is a fantasy for children…actually trying to take as much as one wants is the province of criminals. Governments by their nature result from and promote this sort of infantile banditry.That’s why we love gold so much…and why we hate taxes. Gold enforces a rigorous standard. Gold keeps governments from quietly stealing from individuals through inflation…and what they can’t steal they can’t use to finance invasions and land grabs. And what they don’t tax they can’t idiotically redistribute.” – Gary Gibson, writing in a recent issue of the highly-recommended Whiskey & Gunpowder e-newsletter.