Letter: A paradigm shift
Many of today’s political observers, as well as numerous financial consultants, are convinced that a revolution in the U.S. is in the cards. It will be this revolution, the reset as some describe it, which will determine the future of this nation.
Americans will either return to what prompted the founding of this nation in 1776 or revert to the chaos and mob rule typical of the 1789 French Revolution. In which case, the future will be fraught with unrest, war and further economic ruin.
The founding values must be held foremost in the times to come, those values and the setting of a steady course to return to solid economic values of Austrian economics.
I realize it is disturbing to talk about economic failure. The dismal science becomes even more so with the specter of failure added. Unfortunately I have encountered this first-hand while attempting to warn those who I care about. Unfortunately as disturbing and stressful as it is, adopting the Scarlett O’Hara methodology of “I’ll think about that tomorrow” will only assure the individual’s financial demise and ruin in the coming crisis.
Clearly the Federal Reserve’s explosive expansion of the money supply is a major historical event. Unfortunately the media reports little about it while the majority of the public appears to remain blissfully unaware of the consequences of so great an expansion of the currency, a fiat currency at that. As an example of the media’s failure to report the machinations of the government’s role in the demise of the dollar, how many of the public are aware of the government’s informal endorsement of a 10-year transition plan proposed by the International Monetary Fund to substitute Special Drawing Rights (SDRs being the currency issued by the IMF) for the U.S. dollar as the world’s reserve currency?
To add further insult to injury, over time the plan is to reduce the dollar’s weight in the SDR in favor of the Chinese yuan. This begs the question as to what factors have led to the dollar’s decline as the world’s reserve currency and its decline as a store of value.
None of this is being reported by the mainstream media. This constitutes a salient fact that will bear upon the well-being of every American alive today, as well as the lives of future generations of Americans. The deception perpetuated by the government, the Federal Reserve and the media’s complicity in this deception constitutes what one might term criminality of the most vile.
The people themselves must also bear some of the responsibility in the perpetuation of this fraud. As was noted by an author of a recent book exposing much of the banking and financial fraud, “Planet Ponzi,” Mitchell Felerstein proposed that the majority of the American public appeared more concerned with reports of Anthony Weiner exposing his genitals and the reporting of Eliot Spitzer’s illicit love affairs than they are about their well-being financially as well as their future.
The possibility of revolution that I began this piece with may well be sparked by the public’s outrage when they eventually wake up to just how ill they have been served by the very institutions that they have trusted so blindly. Yes, it is disturbing to talk about economic failure; however, the Scarlett O’Hara approach will prove to be more than disturbing and could well result in devastating consequences far greater than the war and the aftermath of that war depicted in Margaret Mitchell’s enduring “Gone with the Wind.”
The coming economic crisis is part of a larger paradigm shift, a shift that will affect societal and cultural polarities as well as the financial markets. In the anticipation and confronting of this paradigm shift, it is imperative that Americans’ fundamental values of law, religion and spirituality be preserved and held foremost. While a better world awaits, that world must include America’s founding values. Until then it’s going to get a hell of a lot worse.
Port Haywood, Va.