03/31/11 Tampa, Florida – Gary North in his Reality Check newsletter penned the essay “Gold vs. Guns and Badges,” wherein he notes that “There are only two conceptual options in monetary theory: a full gold coin standard in which the citizens hold the golden hammers or a system of economic planning in which elite members of the planning bureaucracy hold the digital hammers. There is no third choice.”
Not only is he perfectly correct, but we on the lunatic fringe are indebted to Mr. North for making sure that we get some guns and badges on our side, so next time perhaps he will write “Gold, Mogambo Junior Ranger (JMR) badges, and Large-Caliber Weapons vs. Guns and Badges,” which will make it a little more even.
I am personally indebted for teaching me something clever said by Ludwig von Mises, who, when asked what the government should do to overcome a recession, said, “Nothing. Earlier.” Hahaha! Excellent!
And to show you that there are new depths of profound meaning all the way through those two little words “Nothing. Earlier,” let me also say that I have reconstructed, entirely from memory, the subsequent sentence fragment that was destroyed by, as they say, unseen hands, unwittingly creating this masterpiece of economics and wit.
The quote of Mises should correctly go, if I understand both him and the Austrian school of economics correctly, “Nothing. Earlier, you should have rounded up every moron economist advocating for more government spending and/or more creation of money by the Federal Reserve, and lock up the ones for whom you can get enough evidence for a confession or an easy conviction, and persecute the rest of their fellow-traveler academic and government scum, like when they hatch plots against me, like just yesterday, when the glass coffee pot mysteriously developed a crack near the bottom!
Continuing, commenting on this, Mises would have surely said, “So sometimes, a small drop or two would leak out of the glass carafe, and it would make a little sizzle on the heated part of the drip-coffee maker, so that every time you went by the pot, it would make a little sizzling noise, and you think to yourself ‘The last person to use this pot to pour themselves a cup of coffee was a real slob and dripped it down the side, and now it is boiling away on that heating element, probably as part of a plan to burn the place down and kill me in the blaze, which I now see is their nefarious plan, those rotten, murderous, backstabbing bastards! I’ll get my revenge!”
Well, now that I re-read that, I’m not sure Mr. Mises would have really said those EXACT words, but you get the drift, even though I was planning on using this as a springboard to segue to a discussion of whether I am irritating because I am loud, or am I loud because I am irritating, which I am required to be because you ignore me when I am not loud and don’t get right in your face and say, “Hey! Moron! Go out and buy gold, silver and oil as a save-your-butt defense against a catastrophic economic collapse because of the Federal Reserve creating so much excess money, which they do to commit the horrifying economic sin of monetizing government debt so that the government can borrow the money, thus increasing the national debt, and then spend the money, increasing the money supply, and thus increasing the penalty we will pay in terrifying price inflation for committing such fiscal and monetary arrogance and stupidity, felt most keenly among those who have little or no income to start with, and thus cannot afford higher prices, and who have nothing to lose by rioting and just taking what they want, making the dollar a bigger piece of crap than it is, making gold and silver prices soar.”
Of course, I was going to use the phrase, “Whee! This investing stuff is easy!” at the end, and I am just waiting until I figure out how to do it.
The Mogambo Guru
for The Daily Reckoning
The Mogambo Guru
Richard Daughty (Mogambo Guru) is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron's, The Daily Reckoning , and other fine publications. For podcasts featuring the Mogambo, click here.
The Daily Reckoning is your premier source for making sense of the news Washington and Wall Street generate. Each business day, The Daily Reckoning calls on its stable of world-class writers and thinkers to show you how to get ahead.
Start your 100% FREE subscription to The Daily Reckoning today and you’ll get a free research report, “How to Survive the Fall of Social Security.” Simply enter your email address below to get your free report and join over 495,000 worldwide Daily Reckoning subscribers!
We Respect Your Privacy and We will
Never Share or Sell Your Email Address
Right you are again Mogambo. Just think, if Bush would have let Wall Street fall on its butt in March 2008, we would be three years into a real recovery. Since the market inevitably has its way, forestalling has done nothing for the American people in general. It has created way too much money. The bailouts were less about helping the little guy and more about stopping the redistribution of wealth in the nation, and reinforcing a caste system and widening the divides between them. The only chance a little guy has these days is investing in gold and silver. That is until the government figures that out as well and begins confiscating the last hope of the small guy.
Saucy Jack called them the Jewes. I am Jeweish so I feel totally fine about calling them the Jewes too. Esecially since they have done every single thing to destroy the common mans economy
that Hitler said they did and would.
However, I am a Mogombo Jewe. and I see that the worst mistake a Jewe or a non Jewe can make in the effort to save himself is to hold any of that gold or silver in any of the Jeweish banks. Some should be in the mattress, some should be in the cookie jar, some should be in the toilet tank, some buried outside in the front yard, some in the dead of night at the base of the tree in the front yard. Jewes, being so smart, should resort to holding them in their mother in laws butthole, if necessary. Hold them here, there, and everywhere, but I beg of everyone not in the hand distance of the jeweish bankers and brokers. Tell then a jewe said so, a Mogombo Jewe.
Not a far cry from the fellow who recently described what governments do best: Nothing, and overreact….
@ David, in the mother in laws butthole, your’re to much. LMAO