Patrick Henry...... Today.

“Is life so dear, or peace so sweet, as to be purchased at the price of chains & slavery?... I know not what course others may take; but as for me, give me liberty, or give me death!” These bold, passionate words spoken by Patrick Henry in 1775 still touch & inspire freedom loving souls across the country. Yet as I recently reread his speech this closing statement is not what most impacted me. His opening arguments in many ways seem much more timely. Addressing those of his day unwilling to take action or even make preparations, those who clung vainly to hope of reconciliation with England. He proposed that;

“…it is natural to man to indulge in the illusions of hope. We are apt to shut our eyes against a painful truth, and listen to the song of that siren, (in mythology a siren is an evil mermaid) till she transforms us into beasts. Is this the part of wise men, engaged in a great and arduous struggle for liberty? Are we disposed to be of the number of those who, having eyes, see not, and having ears, hear not, the things which so nearly concern their temporal salvation? For my part, whatever anguish of spirit it may cost, I am willing to know the whole truth; to know the worst and to provide for it.
I have but one lamp by which my feet are guided; and that is the lamp of experience. I know of no way of judging of the future but by the past.”

Am I the only one to find that insightful? Don’t we all at some point “indulge in illusions of hope” or “shut our eyes against a painful truth”? I would like for a moment to use history to analyze the economic state of our nation & venture an opinion of the future.

A Fiat currency is any monetary system where the medium of exchange is not backed by something of intrinsic value. It can be gold, silver, diamonds or land, anything which cannot readily be reproduced or forged. Our Dollar, like most currencies around the world, is a Fiat currency. This style of monetary system has been tried repeatedly over many years, in all parts of the world, by all types of governments. The Chinese & Mongols tried as did, among others, the Romans and Germans. It has in every case failed miserably. Because there is no physical limit or check on how much can be printed, every nation inevitably deludes their economy with so much money that the currency looses its value. Trust in the currency is lost & the market crashes. This crash always results in a new currency & many times is accompanied by a new form of government. The question is are we, can we, as Americans be the exception to the rule?

I understand that up until about 4 months ago the average number of US Dollars in circulation was approximately 800 billion. Anyone know what it is today? When you add up the FORCED bank bailouts, the purchase of a controlling share of AIG, the economic stimulus packages and all the other hokey spending decisions, the number of available dollars is well over 2 trillion. In the last several weeks the amount of money in circulation has tripled. And they are talking about adding more.

There are soooo many problems with what is being done to our money and the way it is being done. But the one which will directly affect each of our lives in the not far distant future is inflation, HUGE, RAPID inflation. Look at it like this, the amount of products and services available for purchase has not changed. Yet the amount of dollars available to spend on those same products has tripled. Sooner or later someone will be able and willing to pay 3 times as much for the same item. Think about all of the products imported from Asia & elsewhere. Our money supply increases yet theirs remains constant. What does that do to our ability to purchase their products? In order to maintain a fair balance in trade they must of necessity increase prices. The price we pay for every item across the board will rise. Our cost of living will likely double or worse. We cannot now change it, the die has already been cast. Although currently low, due to supply & demand issues of both product & money, prices will rise drastically. Wages will not rise equally nor simultaneously. Real wages (wage adjusted for inflation) are among the lowest levels in more than 50 years. Inflation does not help the average Joe. Our standard of living, the way we live our lives is about to change.

These events were knowingly or otherwise set in motion nearly a hundred years ago when in December of 1913 the Federal Reserve act was passed. This act created a system of government accepted private banks known as the Federal Reserve System. It also transferred the power to coin money & regulate its supply to this same unaccountable private organization. A strict interpretation of the Constitution of the United States would consider this action Unconstitutional. President Woodrow Willson signed the Federal Reserve Act into law. He later lamented,

“I am a most unhappy man. I have unwittingly ruined my country…. The growth of the nation … and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

I believe it to be imperative for us as responsible citizens to know & understand these things. We cannot effect positive change in the direction of our nation without knowledge. I echo the words of Patrick Henry, “For my part, whatever anguish of spirit it may cost, I am willing to know the whole truth; to know the worst and to provide for it.”Be watchful, be aware & most of all be prepared.

In all of this there is a ray of hope. God is in control, our days will not be numbered less. He is watching over us, will protect us & see us through, come what may. Further, there are prophecies which promise that this, the greatest of all nations, will not fall. It will be preserved, upheld and even rescued. As you prepare and make the necessary physical changes to ready yourself and your family for the pending crisis. Search your soul, identify what part you may be asked to play in the rescue of the Constitution & prepare for that as well.

For What it’s Worth

Ryan