In Jim Cook's Archive


People talk about socialism today as if it were something new for America. Actually, we’ve been going socialistic for 70 years. We’ve had an ongoing transition from capitalism to socialism. Today we are more socialistic than capitalistic. As a consequence, we are suffering from the economic failure that is part and parcel of socialism. The current economic crisis that’s frequently blamed on capitalism is in truth, a failure of socialism. Our country faces total ruin because of our fatal embrace with this collectivist creed.

A primary tenet of socialism is a government monopoly on money. They decide what the money will be. Socialists have no use for gold as money. By removing the connection to gold and creating a purely fiat money, they set the wheels in motion to destroy America’s greatness. A fiat money can be created at will by politicians and central bankers. A nation that debases its currency with fiat money signs its own death warrant. America’s failure to maintain sound money signifies the onset of national bankruptcy and loss of economic power and prestige.

Without fiat money our politicians could not spend recklessly and fund their myriad social programs. They could not run huge deficits and cover them with a printing press. Inflating and socialism are joined at the hip. Our leaders never seem to be concerned about the runaway costs of social programs, wars, bailouts and stimulus. They plow ahead seemingly oblivious to the inevitable debasement of the dollar. They are going to shove socialism down our throats, no matter what the cost.

The cost will be great. Every evil that can afflict a civilization is set in force by currency debasement. Today our leaders tell us to spend instead of save. Have you ever heard more convoluted advice? This is the philosophy of capital destruction, social turmoil and impoverishment. This is the strategy of economic know-nothings who inevitably flourish under socialism. This plan to eat the seed corn is the road to economic perdition. Be afraid!

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