By Tom Woods
These days I’ve been encouraged by how many disallowed opinions have been circulating.
Yesterday I talked about “national divorce.”
But also: we have millions of people now who look askance at the FBI and the CIA, and many of whom even favor abolishing one or both of them.
We have more people in public life denouncing the military-industrial complex and its propaganda.
We also have people talking about money and alternatives to the Federal Reserve System.
Now it’s true that these are still minority ideas, but the American “national discourse” is finally breaking free of its intellectual prison.
We have been taught to believe that a money not controlled by the regime must lead to instability and wild cycles of mania and depression.
But of course the regime would say that. Its unrelenting message is that society and the economy need to be managed by wise overseers like them, and that freedom leads to disastrous outcomes.
Over the years on the Tom Woods Show I’ve replied to all of these claims, and set the record straight on sound money vs. the Fed.
One of the worst things the current system does is make it inordinately challenging for ordinary people to save for the future. If you simply pile up dollars, you know they will have lost a catastrophic portion of their purchasing power by the time you retire.
Even if price inflation grows at only two percent per year, the cumulative effect over time is devastating for people’s savings.
It wasn’t always this way. Back when gold and silver circulated as money, people could simply accumulate them and expect them to hold their value — or even increase in value. For an even higher return they could of course invest the money, but they always had this conservative option.
No longer. Now, in order just to break even, people find themselves having to make investment decisions they may not know as much about as they should, but what else are they supposed to do? The government and its central bank have put them in an impossible situation. My blood genuinely boils about this.
You can seek investment advice, but even that is hard: some people recommend X, and others with equal fervor advise not-X, so how do you decide between them?
So in practice many of us, through inertia and confusion, wind up taking no action at all, and helplessly watching our savings dwindle away.
I have two links for you today. This is a no-no for an email newsletter, for which the best practice is a single link per issue. We are defying convention today, my friend.
First, here’s a free resource where you can hear me debunk the various arguments made against sound (that is, not government-controlled) money:
Second, a financial advisor you can actually trust, who’s a member of one of my programs and a smart and honest guy, who helps people get themselves on a secure financial footing. Take 25% off with code woods25.
Categories: Economics/Class Relations
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