In Jim Cook's Archive


Since we have hundreds of important new readers, I’d like to explain our mission. We’ve basically been singing the same song since we started 41 years ago. It’s a viewpoint that comes from the Austrian School of Economics. Free markets and capitalism are being eroded and undermined by liberals and socialists. The greatest economist of the Austrian School, Ludwig von Mises (1881-1973), warned that the mixed economy was the road to socialism by installments. As he suggested, “Socialism is the renunciation of the rational economy.”

Socialist practices gained a foothold early in the last century and have been picking up steam ever since. Norman Thomas, who ran for president under the socialist banner once predicted, “The American people will never knowingly adopt socialism, but under the name of liberalism, they will adopt every fragment of the socialist program until one day America will be a socialist nation without ever knowing how it happened.”

The problem with socialism is that it can’t deliver the goods. Mises had this to say: “Socialism is not in the least what it pretends to be. It is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build; it destroys. For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created.”

Socialist policies in the U.S. have become so expensive they can’t be paid for despite exorbitant taxes. Artificially low interest rates, money and credit expansion, deficit spending and massive borrowing are required to pay the bills. These are the formulas of John Maynard Keynes who gave governments the rationalization to inflate and depreciate the value of the currency. Inflation and socialism are joined at the hip.

For years we wrote that the way to offset the damage done by our government’s interventionist policies was to own gold. We were vindicated by the rise in gold. In 2001, we switched our emphasis to silver. We felt it would have the same wealth preservation qualities as gold but also have the potential to deliver much larger gains. Silver was in greater demand for industrial uses than gold and the world’s above ground supply of silver appeared to be shrinking.

We established a relationship in 2001 with the nation’s premier silver analyst, Theodore Butler. Subsequently, he came to be seen as an influential thinker on the silver market. His controversial theories have become accepted wisdom. Consequently our goal is to get you to buy silver (no paper) for protection and profit. I believe there is no better story in the world and nothing more necessary for your financial heath than silver.

Ludwig von Mises turned down a lucrative central bank position in 1928 because he saw a severe crash coming. He predicted the great depression. John Maynard Keynes on the other hand saw nothing coming and suffered great financial loss. If Mises were alive today, he would predict a much greater crisis (perhaps imminently). He often warned that the governments socialistic policies would lead to catastrophe.

We know our views are far from the mainstream. Washington and Wall Street scorn our predictions and warnings. We counter with these words from Albert Schweitzer: “Civilization can only revive when there shall come into being in a number of individuals a new tone of mind independent of the one prevalent among the crowd and in opposition to it.  A new public opinion must be created privately and unobtrusively.  The existing one is maintained by the press, by propaganda, by organization, and by financial influences which are at its disposal.  The unnatural way of spreading ideas must be opposed by the natural one which goes from man to man and relies solely on the truth of the thoughts and the hearers’ receptiveness of new truth.”

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