(this is an excerpt from his letter today. I did not see it already posted. if so, let me know.)
I was thinking about this last night, and it really is amazing. You might work your whole life for a specified grand total of money. Say your grand total, all the money you’ll ever earn, comes to three million dollars. That amount can be created by our government in a split second. The government (actually the Fed) can “create” all the money that you’ve worked for your entire life — in a split-second.
Isn’t there something wrong here? If money can be created with a jab at a computer, what is that money worth? In fact, why the hell do we consider it money at all? Oh, I get it — it’s money simply because the US government says “this is legal tender for the payment of all debts.” It’s money simply because the government says its money.
If the government announced that all dollar bills were 100 dollar bills tomorrow, would you feel richer? If the government announced that every five dollar bill you own could be turned in at your Toyota dealer for a new Prius, would you believe them? If the government announced that a ten dollar bill would buy you a lifetime of steak dinners at any Mortons restaurant, would you believe them? You probably would, because you’ve learned never to ask basic questions, particularly when it comes to the “money” you work for. And if you knew enough to ask the questions, who in the blasted government would listen to you?
“Oh Mr. Bush, I’m having serious doubts about my ten dollar bills. In fact, I’m beginning to question all my paper money. I’d like to discuss this matter with you. At your convenience, of course. Hello? Hello? I’ll be damned, I think he hung up on me. I wonder, was that Mr. Bush at all, or was it some yo-yo at the White House telephone headquarters.”
Yes, dear subscribers, you’re part of the greatest fraud in recorded history. You’re working for something that’s not tangible, you’re working for a fantasy — a load of paper that a government edict tells you is money. These goof-balls are telling you that the paper they print is money and that the gold that’s represented wealth for 5000 years is just a worthless relic. So who’s the goof-ball, you or your government? Wake up, sucker, because you are the goof-ball. You’ve heard your government lie for so long that poor devil, you actually believe them. The big lie is that you’ve been working for a digital print-out.
You’re part of the greatest financial fraud in recorded history, and the pitiful part of it is that you never even questioned the scheme. You’ve worked your whole life for a paper fantasy. Of course, whatever tangibles you bought with that paper is probably worth something.
What, you bought 100 acres of land in Argentina? That should be worth something. And you bought a painting signed by Matisse, well, c’mon, if it’s authentic, that could be worth a lot. Hey, I’d like to buy that painting. Would you consider taking cash for it?”