THE END OF EMPIRE
History instructs us that empires don’t last. From the Roman Empire to the British Empire and the lesser empires in between their dominance has faded or disappeared. A powerful case can be made that the American empire faces a similar resolution. We are making the same mistakes as those who failed to persist during prior centuries.
When I first started in the gold and silver business, I read extensively the economic thinkers of the Austrian School of economics. Consequently, I began to believe that our monetary and social policies would eventually spell our decline. Decades have passed since then without a serious economic crisis that would threaten our dominance, but we are more than ever embracing policies that imperil our destiny. Uncontrolled government spending and debt, puts the dollar at risk. Nothing symbolizes our economic power and worldwide influence like the dollar. However, our budgetary sins and incessant inflating can weaken the dollar to the point it is replaced by competing currencies. That event would signal more than anything, our decline.
Current policies of our new liberal government continue and worsen our spending sins. For example, the opening of our borders allows in new immigrants who are often uneducated and impoverished. They immediately require financial assistance and some need permanent welfare and medical care. Yes, we want to help them, but not if it bankrupts us. The left wants to forgive student loans, expand free health care, bail out insolvent states, and subsidize endless initiatives to combat their definition of racism. We are already so far in debt that adding more debt can break us. This is exactly how empires end and we are well down that road.