Tomorrow is coming, and the government and central banks cannot prevent it

If you have yet to read the text of Clyde Harrison's speech, you must. Harrison is a precious metals guy, and keen observer of what's going on in the nation and world.

There are a couple of excerpts we extracted. The rest, which is a mother lode of that rare commodity, wisdom, you can see for yourself.

“Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for life.”

Today in order to teach a man to fish, you need two fishing licenses, a state boat sticker, OSHA approved life jackets, EPA approved weights and hooks, you pay a park fee, obtain a fire permit to cook the fish and an EPA permit to dispose of the waste. Thanks to the government, fish you catch costs 8 times as much as the fish you purchase in the supermarket, caught overseas.

That explains a lot.

When I started in the investment business 38 years ago, the Golden Rule was “Do unto others as you would have them do unto you.” In a few years it was corrupted to, “He who has the gold makes the rules.” Today it has been totally corrupted to, “He who makes the rules gets the gold.”

That explains Congress.

The following will not be in Allen Greenspan’s book:

Between 1800 and 1913, the value of the dollar was more or less constant.

Since the Feds creation in 1914, the value of the dollar has depreciated 97%.
Since the maestro, Allen Greenspan took over, the dollar has lost 37% of its value. Consumers have gone deeper and deeper into debt in order to spend freely out of artificial purchasing power extracted from over valued homes. All that paints a compelling picture of an excess demand driven US economy.

Nothing really explains the Fed.