Is It Them, Or Us?

28 Mar

I’m always surprised at how many people I meet that have no idea what “fiat currency” means, or what effects its use can have on an economy. Ayn Rand seems to have had a very good understanding of the latter, as evidenced by this excerpt from her book, “Atlas Shrugged”, published in 1957:

“Not an ocean of tears not all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor—your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money, Is this what you consider evil?…

Money will not buy intelligence for the fool, or admiration for the coward, or respect for the incompetent. …

Money is the product of virtue, but it will not give you virtue and it will not redeem your vices. …

Run for your life from any man who tells you that money is evil. That sentence is the leper’s bell of an approaching looter. So long as men live together on earth and need means to deal with one another–their only substitute, if they abandon money, is the muzzle of a gun. …

When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

“Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion—when you see that in order to produce, you need to obtain permission from men who produce nothing—when you see that money is flowing to those who deal, not in goods, but in favors—when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you—when you see corruption being rewarded and honesty becoming a self-sacrifice—you may know that your society is doomed.”

Following Rand’s advice, and watching the money, gives one an uneasy feeling that we may have gone so far down the path to our own economic destruction, that the outcome is cast in stone. Some say that a complete melt-down is the only remaining option, to give us an opportunity to recover that which we are losing… some sort of stability. The Fed, however, is proving to be a tough adversary, and is exercising all its powers to speed our economic demise. Are they that clueless? Or is it us that are clueless, as to the intent behind their insane actions?


2 Responses to “Is It Them, Or Us?”

  1. Ed B March 29, 2010 at 10:16 am #

    Thanks for that ! Can’t wait to see the next trillion dollar spending bill !!

    • Doc March 29, 2010 at 10:25 am #

      At the rate they’re going, it shouldn’t be too long, Ed. 😉

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