11/22/2011 Portland, Oregon – Pop in your mints…
After a brief break in our faithful correspondence, we are compelled to pick up the proverbial pen to complete an incomplete thought in a vain attempt to eat Thanksgiving dinner in peace. If you are a new reader of The Mint, we will simply relate that the Mint is the product of a deep felt agitation by its author. It is what could be referred to as therapy. The thoughts, once on paper, leave us in peace. Until then, they stir, deep in our spirit, waiting to escape via these words.
How very fortunate and long suffering you are, fellow taxpayer.
Before we continue our mantra of Anarchy, True Capitalism, Natural Law, and Might Makes Right, we will share a few important observations.
First, the MF Global implosion is now reported to have left a $1.7 Billion hole in the capital base of a highly leveraged commodity and derivatives market. MF Global was a primary dealer, one that had the unconditional trust of the exchange and other secondary commodity dealers. It was a silent pillar of these markets. The aftermath of their implosion, both in loss of capital and confidence, has only begun to unfold. Commodity markets are no longer “safe” by normal standards. This situation is best watched by your money at a distance.
Second, while Europe implodes, the US has been spending most of its time firming its position in Asia. There has been speculation that the US is moving to aggressively devalue the dollar vis-à-vis the Yuan. Will it be the 10:1 reverse split that we have speculated about here? No one knows, but it would appear that the US Dollar will not serve as a reliable store of wealth in the short term. Silver and Gold come to mind as viable substitutes as this drama plays out.
Finally, It appears that the Occupy protesters are now wising up and using tactics which we call the Bolivian tactic, that of blocking major thoroughfares. It is much more effective, not to mention exciting, than urban camping. As a practical matter, if your livelihood in any way relies on a major thoroughfare being open in an area where the protests are growing, we suggest that short term contingency plans be considered.
These events and any pain they cause should be short term, maybe three to four months of adjustments, if they are allowed to simply run their course. If the Government continues to intervene, they will plague us indefinitely. We pray for the former and prepare for the later.
With that off our chest, we continue pondering life as we know it. Our question today is: Why does it seem that the worst morals seem to come out on top? First, a glance at Isaiah:
“ And I will make boys their princes, and infants shall rule over them. And the people will oppress one another, every one his fellow and every one his neighbor; the youth will be insolent to the elder, and the despised to the honorable,” Isaiah 3:4-5
Have you ever complained about a politician? The government? How about your boss? The current state of society? If you haven’t, you are indeed a rarity in this day in age, for there is much complaining, and seemingly much to complain about.
How did we arrive at this, fellow taxpayer? If democracy is supposed to deliver the cream of the crop in terms of leadership in the government, why does it seem that most politicians are the epitome of immoral liars?
This question was thrust upon us as we were reading the “Is there no shame” rant at zerohedge.com and came across the words “Hayek’s theory that the worst always rise to the top.” We then perused Hayek’s theory in an excerpt from the “Road to Serfdom.”
In the section entitled “Why the Worst Get to the Top,” Hayek states that:
“There are strong reasons for believing that the worst features of the totalitarian systems are phenomena which totalitarianism is certain sooner or later to produce.
Just as the democratic statesman who sets out to plan economic life will soon be confronted with the alternative of either assuming dictatorial powers or abandoning his plans, so the totalitarian leader would soon have to choose between disregard of ordinary morals and failure. It is for this reason that the unscrupulous are likely to be more successful in a society tending toward totalitarianism. Who does not see this has not yet grasped the full width of the gulf which separates totalitarianism from the essentially individualist Western civilization.”
Suddenly, it all makes sense. As man has generally chosen to pursue the Totalitarian, or what we call the Might Makes Right ideology, it would follow that those thrust into power should be among the most immoral, unscrupulous, human beings on the planet.
In summary, the Might Makes Right ideology unwittingly promotes the worst individuals to positions of power, as they are best suited to carry out the immoral and contradictory demands which are invariably made of the persons occupying positions of power in such a system.
Depressed? Don’t be. It doesn’t have to be this way. More tomorrow.
Stay tuned and Trust Jesus.
Key Indicators for November 22, 2011
Copper Price per Lb: $3.34
Oil Price per Barrel: $98.01
Corn Price per Bushel: $5.98
10 Yr US Treasury Bond: 1.95%
FED Target Rate: 0.08% ON AUTOPILOT, THE FED IS DEAD!
Gold Price Per Ounce: $1,700 PERMANENT UNCERTAINTY
MINT Perceived Target Rate*: 2.00%
Unemployment Rate: 9.0%
Inflation Rate (CPI): -0.1%
Dow Jones Industrial Average: 12,096
M1 Monetary Base: $2,121,700,000,000 RED ALERT!!! THE ANIMALS ARE LEAVING THE ZOO!!!
M2 Monetary Base: $9,644,200,000,000 YIKES UP $1 Trillion in one year!!!!!!!
You must be logged in to post a comment.