When the shutdown ends… maybe…
Sound money isn’t enough…
From the desks of President Trump and Robert Kiyosaki… this book isn’t available anywhere else. That’s unfortunate for most Americans. The good news is you can get a copy. Go here to see why it’s so important — and exactly how you can get your hands on it.
Dear Reader,
S+2.
Online wagering forum Kalshi hazards the “shutdown” will endure 14 days.
I hope beyond hope the wager is incorrect. I would have the thing run far, far longer… clear through to infinity.
Yet I am hagridden by doubt.
It is my sincere belief that political Washington craves the earliest possible resolution.
Is it because they cherish the nation… and believe a partial government closure injures that nation?
The answer is no.
Why Washington Fears a Protracted Shutdown
It is because they fear an extended closure would awaken the American people to an unpleasant truth — so far as political Washington is concerned.
That is, political Washington fears the American people may question its usefulness.
They fear the American people will come to realize precisely how superfluous they are. And that the American people may question their continued employment.
For that reason — primarily — political Washington urgently seeks to end the closure.
The longer the closure… the more questioning the American people will become.
Why Does the Government Employ “Nonessential” Workers?
The very distinction between “essential” and “nonessential” government laborers clarifies as sunlight clarifies.
If they are nonessential then why do we require them? To ask the question is to answer the question.
If their services are useful but nonessential, I say let private enterprise provide them.
Yet I weary from the entire sordid chapter. I will ignore it — as will most Americans — until events compel me to take it up again.
I merely record this observation:
The behemoth federal bureaucracy under which we wallow would not likely exist under sound money — a gold standard, for example.
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A Fox in Charge of a Henhouse
Sound money places reins on government ambition. Sound money enforces a constraining discipline that the fiat-funded government lacks.
Sound money chains government down in thick, imprisoning fetters.
That is, sound money curbs, checks and limits the natural rascalities of government.
Meantime, a government in charge of money is a fox in charge of a henhouse.
As I have written before:
Fiat money fuels government in the manner that oxygen fuels fire. And as Washington long ago warned:
“Like fire [government] is a dangerous servant and a fearful master.”
Wishful Thinking
Thus I argue my piece for sound money. Yet a distressing question dangles in the air:
Does private, decentralized money — sound money — necessarily restrain government?
Today many cryptocurrency drummers believe these digital currencies are 21st-century gold.
They are private creations of the free market. Thus governments cannot monkey them.
Utopianists even believe cryptocurrencies can topple the state… consigning it forevermore to history’s hell box.
Have another guess, argues “Austrian” school economist Ryan McMaken.
Sound Money Isn’t Enough
Here he argues that:
It’s… important to not overstate the benefits of taking money out of the hands of the state. The temptation to push the “fix the world” idea to utopian levels is often seen among cryptocurrency maximalists, and among some gold promoters as well…
The idea that changing to different money will somehow end theft, poverty or even war is the sort of messianic thinking that would have given old-school Marxists a run for their money.
Gold of course predated the state. Yet gold did not corral the state — the ambitious, avaricious and mischievous state.
The state instead expanded and expanded… as the tick expands and expands under constant intake of blood.
The Inexorable State
More:
States long predate the money monopolies they now enjoy. During the 16th and 17th centuries — without the benefit of fiat currencies — states created enormous standing armies for the first time. They established mercantilist economies.
Many rulers managed to assemble large bureaucracies to serve absolutist states. States were centralized to a degree that had not been seen in Western Europe since the Romans. It was a period of enormous gains in state building for princes and their agents.
Continues Mr. McMaken, with heaviness in his heart and resignation in his pen:
Yet these states could not “print money” nor enjoy the benefits of fiat money except in very short-lived and limited cases. Indeed, this period of immense state growth was also a period of “concurrent” and “parallel” currencies during which a wide variety of gold and silver coins — most of them foreign — competed within the borders of a single state…
But this didn’t stop, say, Louis XIV from hammering together a powerful state…
So when we ask ourselves the question “Can states survive without fiat currency?” the answer is clearly, “All experience points to yes.”
Sound Money Won’t Fix the World
Alas… all experience does point to yes.
The state does not require a monopoly on money to menace our happiness.
It merely requires a monopoly on coercive power — the coercive power of taxation in particular.
Finally:
Taking the control of money out of the hands of politicians and bureaucrats is clearly a good thing, and ought to be done quickly and thoroughly. But it won’t “fix the world.”
It will not, sadly. And so we must conclude that:
Sound money — in this fallen world of sin and vice — cannot constrain sinful and viceful men determined not to be constrained.
Alas… the ability to constrain sinful and viceful men has always eluded us.
And it likely always will.
Regards,
Brian Maher
for Freedom Financial News
P.S. One book can’t make you rich. We all know that.
And I’m not necessarily saying that this book released by President Trump and Robert Kiyosaki will automatically make you rich.
I would never — ever — say that. But…
What you read on pages 33 and 243 alone just could help you get rich.
How?