Weekend Show – Sat 28 Jan, 2012

From the Cambridge House International Investment Conference

Click download link to listen on this device: Download Show

In this show Al discusses:

  • Segment 1 – Lawrence Roulston opens the show.
  • Segment 2 – Lou Paquette chats about economics, politics and his latest project.
  • Segment 3- David Morgan chats about silver and his thoughts on its performance in the coming year.
  • Segment 4 – James Turk wraps up the first hour.
  • Segment 5 – Can’t seem to get completely from politics as this segment with Roger Wiegand proves.
  • Segment 6 – Larry Reaugh talks about American Manganese.
  • Segment 7 – Sean Rakhimov continues the silver discussion.
  • Segment 8 – Al wraps up the show with Bob Moriarty discussing issues surrounding the internet and tries to pin Bob down with specifics on 2012 prices for gold and silver.



Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show


Featuring:
Al KorelinLawrence RoulstonLou PaquetteDavid MorganJames TurkRoger Wiegand
Larry ReaughSean RakhimovBob Moriarty
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Comments:
  1. On January 28, 2012 at 6:07 am,
    James B from Canada says:

    Great show today especially listening to David Morgan and James Turk.

    James is a perma bull, David has wavered but this year he is with the perma bulls.

    Bob morairty is a prick.

    Here is an article defending me:

    http://silverdoctors.blogspot.com/2011/08/bob-moriarty-compares-silver-to-housing.html

    In the past he has bashed silver while probably shorting it.

    Please gentlemen, don’t say ” gee I am quite shocked you would think that”.

    Becaue they are so well connected, we have to read and listen to them 3x to find the hidden message.

    • On January 28, 2012 at 7:33 am,
      Jerry O^OTB says:

      James are you saying , you do not want to steal “BOB’S iDENITY”

      • On January 28, 2012 at 7:50 am,
        Jerry O^OTB says:

        James,,,,just read the artical on “silver doctor”,,,
        MAYBE BOB IS A GOVT. mole,or plant,you know one of those misdirection type guys…
        after all he was a marine pilot,,in viet nam,,maybe he got some backwash of agent-orange
        while flying ..

    • On January 28, 2012 at 9:20 am,
      Tex says:

      Dear Mr. Moriarty,

      Please accept my apologies for the foregoing comment concerning external male genitalia on behalf of those who use this Blog. Occasionally the Blog does manifest thoughts of those who prove the truth of Lincoln’s adage “Better to remain silent and be thought a fool, than to speak and remove all doubt.”

      May you never require sildenafil,
      Tex

      • On January 28, 2012 at 11:57 am,
        Big Al says:

        HI Tex,

        “sildenafil”?

        What?

        Big Al

        • On January 28, 2012 at 3:24 pm,
          Matthew says:

          I googled it Al.
          Viagra

          • On January 28, 2012 at 5:13 pm,
            Big Al says:

            Must be generic, Matthew.

            Big Al

          • On January 29, 2012 at 11:57 am,
            castanheiro says:

            Hi Matthew, and Big Al,,, and anyone else who didn’t know what ‘sildenafil’ was.
            I didn’t either. The Good News is that if you didn’t know what it was you probably don’t need it. The ones who apparently need ‘help’ in this area are those who, by familiarity with it, are obvious users.

    • On January 28, 2012 at 10:53 am,
      Big Al says:

      Morning James,

      When you say, because they are so well connected, I assume that you are referring to David, James and Bob.

      Am I correct?

      Best,

      Big Al

      • On January 28, 2012 at 11:04 am,
        Big Al says:

        Hi Gentlemen,

        I read the article that James B provided a link to. I thought it was pretty interesting as I have not read this fellow’s material before.

        I responded to him, inviting him on the show.

        Do any of you have an opinion on this?

        Big Al

        • On January 28, 2012 at 12:10 pm,
          Jerry O^OTB says:

          always need to see both sides….then we can see if there is any substance…

          • On January 28, 2012 at 5:13 pm,
            Big Al says:

            Amen, Jerry!

            Big Al

        • On February 4, 2014 at 9:49 am,
          Whamg says:

          , the work-without-(monetary)-payment scheme would only be ok if pelope are given the choice to do something else to earn their living. Besides, slaves were treated as property, i.e., didn’t have rights as human beings — but that’s another subject altogether.

    • On January 28, 2012 at 11:56 am,
      Matthew says:

      James B-
      This is off topic, but you should listen to the new Jim Rickards interview at King World News. In it, he said what I said to you several weeks ago – that the biggest threat to national security comes from within. To paraphrase, Rickards said that Bernanke and Geithner are a bigger threat to national security and the dollar than any adversary.
      When you laughed at this obvious reality, you displayed not only that you do not understand the salient problems of today, but that you also have not learned the lessons that world history has so thoroughly provided.

      • On January 29, 2012 at 12:09 pm,
        castanheiro says:

        Hi Matthew,
        I also listened to Jim Rickards, last night, and thought his comments were spot on. Yes sir, you are right. Many of the worlds greatest civilizations have been destroyed from within. Thank you Matthew for your valuable contributions to this site.

        • On January 29, 2012 at 3:26 pm,
          Big Al says:

          Afternoon Mr. C,

          I think that we are seeing the U.S. possibly being destroyed from within.

          How about what happened in Oakland yesterday? Getting to be a very interesting turn of events, isn’t it!

          Big Al

          • On January 29, 2012 at 8:00 pm,
            castanheiro says:

            Yes sir, Big Al, You’re absolutely right.
            What we are seeing is the further erosion of our freedoms and liberties through the use of the ‘Occupy’ protests. Tyranny needs to create scenarios of chaos that threaten the general peace. The gov’t and media elites are encouraging the Occupy movements. Now, the protestors are intensifying their activities, beginning to threaten and assault police, destroy public buildings, property, etc.. This will continue to ramp up and the pressure for local officials and police to do something will necessitate more restrictive measures and greater control by the state. This is exactly what they want, and the ‘Occupy’ movement is nothing more than a constructed tool to allow and justify greater expansion of police-state policies. We will see Marshal law at some point. We will also see public discourse curtailed and the complete banning of civil protests, marches, gatherings, etc… That is their goal and it is coming! Unless, unless, we can, with the aid of Providence, turn this thing around. I remain imminently hopeful!!!

  2. On January 28, 2012 at 7:25 am,
    Jerry O^OTB says:

    “Social class..warfare”….sturred up by the Pres….is to distract the herd of serfs , from waging war on the politicans…
    A “distraction” from the real problem…,
    as a kentuckian might say, “them there polly-tishans”

    • On January 28, 2012 at 11:05 am,
      Big Al says:

      Hello Mr. In the Box,

      I could not agree with you more!

      Big Al

  3. On January 28, 2012 at 8:21 am,
    Terry S. Smith says:

    EGS Webmaster services looks interesting.

    Send me his contact info.

    Thanks!

    • On January 28, 2012 at 11:07 am,
      Big Al says:

      Hi Terry,

      Happy to.

      You can reach Lou at 604-687-5772.

      Tell him I suggested you call.

      Best,

      Big Al

  4. On January 28, 2012 at 8:46 am,
    James C says:

    A great show from Vancouver, thank you Big Al !
    About internet security, the last segment in the show, there are lots of things we can do to protect our personal data on the web. I avoid too much online shopping and I don’t do online banking. When I use a free email, I usually use an alias and not my phone and address, and I don’t use my real name. Even on this site, I don’t use my last name since it’s unique and easily found.
    Working for a Fortune 100 company in their IT department as a software engineer and product manager, I’ve seen how most companies are somewhat slow in reacting to data protection from hackers, but after loosing a few million dollars of data or prestige, they usually come around and make the necessary investments. You’d even be surprised how big companies lack polished systems for their implementation of protecting their data and systems and they still have a long ways to go.

    • On January 28, 2012 at 11:09 am,
      Big Al says:

      Many thanks James C,

      My experience yesterday really made me stop and think. Interestingly enough, I found a couple charges late yesterday that could also fit into that category.

      Kind of scary, isn’t it?

      Big Al

  5. On January 28, 2012 at 9:33 am,
    Clay says:

    Al and everyone: Why is it so many precious metal holders or bulls talk about gold and silver in terms of highs and lows in reference to currency per unit weight instead of weight per unit currency?

    My opinion on this is because of several things. People use currency as money in the numerator for buying and selling, $/share, $/pound, $/barrel etc. Because of this things are compared by how many $ it takes to buy something not how much weight or gallons of something buys a dollar, Therefore “Wealth” is most of the time viewed in how many dollars a person has, but this does not mean this person has value. The realization in difference between value and wealth are not normally considered except when wealth is perceived to be much less than before, such as when serious health issues arise, or the currency drops in value a great deal or scarcity and prices of day to day needs rises substantially. Economists attach a great deal of importance to “expectations” but view it differently even in the same school. However one aspect of “expectations” that nearly all economists see similar, is when some significant changes occurs such as war, earthquakes, big announcement from governments or their central banks. Sentiment then changes abruptly and the importance of value becomes more important where perceived wealth is less important.

    Reason I mention the above is because in recent years I have seen abrupt changes occur more often with lesser time between these events. Volatility is rising along with uncertainty. Therefore we can expect considerations of value to begin taking on more importance than currency perceived wealth. This is exactly what I think the Federal Reserve wants and is the basis of Jim Rickards view of “Currency Wars”.

    James Turk is in my opinion one of Al’s frequent guests that has the above understood better than most of the rest. If I have doubt or agree about something someone said, I will think what James Turk would say before making my decision. There are few people I admire more than Mr. Turk.

    This creates a mindset in people to put lesser attention or concern about the value of something and more the desire to make or retain “Wealth”

    • On January 28, 2012 at 10:38 am,
      Marc says:

      Hey Big Al and everybody
      I say this with a little trepidation and A LOT of sass – Bob Moriarity – “Every CLASS needs a CLOWN!” Sorry Big Al, I am a respectful person, BUT I just don’t understand guys like him or “you know who at Kitco”. If I followed him I would absolutely be SEETHING right now!! Now with all that said – I will take PERSONAL RESPONSIBILITY for my investment decisions and will then lead and GIVE with generosity and enthusiasm!
      Marc

      • On January 28, 2012 at 10:39 am,
        Marc says:

        BTW, I will continue to humbly thank you – Big Al, and everybody on this blog for all your hard work and input.
        All the best and God Bless
        Marc

      • On January 28, 2012 at 11:16 am,
        Superdobbs says:

        Bob M tells it how it is.

        In fact, I emailed him about a JR awhile back and he responded within 20 minutes- great advice too!!!!

        • On January 28, 2012 at 11:17 am,
          Big Al says:

          Hi Superdobbs,

          I agree that Bob is a very interesting person. I do enjoy talking with him even though we oftentimes disagree.

          Best,

          Big Al

      • On January 28, 2012 at 11:16 am,
        Big Al says:

        Hi Marc,

        Remember my philosophy, listen to everyone and read all you can. Then, make up your own mind.

        Best,

        Big Al

  6. On January 28, 2012 at 10:24 am,
    John Flinn says:

    most people I know just want a job.
    GOP won the war on big labor.

    • On January 28, 2012 at 11:18 am,
      Big Al says:

      Thank Mr. Flinn, is a very good point!

      Big Al

    • On January 28, 2012 at 12:17 pm,
      Jerry O^OTB says:

      John F….concerning jobs…..go and listen to James Paplava show, and listen to james dine concerning the future of jobs….that would be sat. 28 show…
      If you do not know anything about James P. or James D…do some reading…
      respectfully. ootb

  7. On January 28, 2012 at 10:31 am,
    Clay says:

    Bob Moriarty, He is a good guy and more than just smart.

  8. On January 28, 2012 at 11:16 am,
    Matthew says:

    On August 1, Moriarty said: “I’ll get a lot of grief for saying it but silver has had its bull market top.”
    Note that he did not say “silver put in an intermediate term top.” What he said was explicit; which might lead one to wonder how someone with his experience could be so foolish. Others might wonder if he is trying to aid the health and longevity of the bull market by keeping the dumb money out as long as possible. Perhaps he doesn’t understand the monetary system. I don’t know. Whatever the case, his call did not add to his credibility.

    • On January 28, 2012 at 11:18 am,
      Marc says:

      Matthew
      Like always – well said…
      Marc

    • On January 28, 2012 at 11:19 am,
      Big Al says:

      I do have to agree with this Matthew.

      Remember, I listen to everyone and then make up my own mind!

      Big Al

  9. On January 28, 2012 at 11:50 am,
    benb says:

    Good show al.
    I have a great deal of respect for Mr. Moriarity.
    I did my time with the military thank goodness it was peacetime, my dad finished his time in germany 1945, my grandfather 1914/18 was at vimy ridge which is a notable day in our military history.
    I was so pro government I didnt use tax deduction believing support of government was a good thing. Now that I found out that all of it was just for bank profit I use every deduction I can. I see no pride in killing/harming anyone or going thru hell for a bank.

    Iraq,Afganistan,Vietnam was/is a crime against humanity and so are the other invasions as Iran,Venesuala,Nicaragua,Cuba will be should it happen.
    I have refused to fly for years as I see security as molesting children teaching them its ok as long as the molester is in uniform.
    Mr. Moriarity has chosen not to support any of it and left the country not to support these guys as he see no winning. I respect that.He could be right.
    I refuse to go to the U.S. as it is a police state, I used to visit regularly.
    I see gold as insurance and silver doing 2 things, as Max says “off the market, bring down the banks” the other is profit.
    As for the internet, just more counterparty risk, the risks we take today with ivesting are incredible, we probobly dont even see them all. I access my trading account online but I dont kid myself, I know there are many ways to loose it all in an instant with no repricutions to the entity that steals it.
    I personally agree with Bob and James
    , instead of currency in the bank its pm for savings.
    Investing can be profitable but it is a corrupt/ rigged market,we do not have price discovery with free markets.
    In any case I dont agree with everything anybody says except Ron Paul, but I have seen Mr Moriarity as a patriotic and intelligent man. As for him leaving the states, I can only suggest there are times for stratigic withdrawl.
    Thanks again for your work Al and thanks to everyone else too.

  10. On January 28, 2012 at 11:59 am,
    Martin C says:

    Everyone, especially Jerry and James–

    My Dad’s a Marine Viet Vet. His buddy from High school was shot down over N.VN and spent 6 years in Hanoi Hilton. Agent Orange contamination is a myth (IMHO), and your comments are ill-informed and out of line. Let’s keep an open mind, and judge the man by the merits of his ideas.

    I for one honor him for his service, and having been the victim of ID theft in the last month welcome his commentary. I have no doubt he is far wiser than I, but for now I remain long Silver, and long Silver MIners, and maintain SAE’s in my family emergency kit!

    And it goes without saying that Big Al is wise when he says “listen to everyone and make up your own mind.” The Hagakure (Way of the Samurai) says “…The highest way is in discussion with others” and “For serious affairs that bear directly on oneself, if one does not take care of things by making his own judgement, …matters will not be brought to a close.” You will not prosper from holding Silver, but only when you exchange it in your own time for something of lesser of equal value!

    Big Love to you Big Al for your Big Temperance!

    Martin C

    • On January 28, 2012 at 12:04 pm,
      Big Al says:

      Afternoon Martin C,

      Many thanks for your kind words!

      Big Al

    • On January 28, 2012 at 1:29 pm,
      Jerry O^OTB says:

      Martin c….First you need to lighten up….and reread my comments….
      and if you have been around for any length of time , most of my comments
      are for humor…with tongue in cheek….
      Sorry, if you think , I think that Bob is crazy, I do agree and have upheld Bob
      in the past….go, back the last time he made the Parabolic move comment.

      LOOK YOU ARE NOT THE ONLY ONE WHO HAS HAD FAMILY MEMBERS SERVE
      IN THE MILITARY…I SERVED IN THE MILITARY IN VET .NAM, MY FATHER,SERVE
      IN WWII AND MY GREAT GREAT GRANDFATHER SERVED IN THE REVOLUTION
      SO GIVE ME A BREAK….
      AND I WILL GIVE BOB HIS DUE…BUT, SOMETIMES YOU WONDER IF THE GUY IS
      ALL THERE…

      • On January 28, 2012 at 5:19 pm,
        Big Al says:

        Did not realize these credentials, Mr. In the Box.

        My hat is off to you!

        Big Al

      • On January 30, 2012 at 6:57 am,
        Martin C says:

        Jerry,

        If you served in Vietnam, then I hold you in the highest esteem as well. You’ve earned the right to say whatever you please, and I owe you a debt of gratitude for my right to do the same. But like me you may have grown tired over the years of all the BS stereotypes of Vietnam Vets. And if, like Dad, you ever were the benefactor of close air support, I would have thought you more respectful of a Marine combat pilot.

        God bless you, and thanks for your service and sacrifice.

  11. On January 28, 2012 at 12:02 pm,
    Big Al says:

    Morning benb,

    Thanks for our opinions. As you probably know, I agree with most of them.

    I appreciate your taking the time to contribute to this site with your thoughts.

    Big Al

  12. On January 28, 2012 at 9:57 pm,
    Tony W says:

    Hi Al

    I generally adhere to your mantra and listen to a wide variety and diverse commentary and and yes that sometimes include CNBC although I give far more credibility to the European version of the show as their commentary seem more balanced and they still seem to have some journalistic freedom unlike the US version which seems so contrived.

    While I like your show I sometimes feel you tend to stray into areas which for me, this being an investment show, appear a little off topic and irrelevant. While I accept that its your show and you can say what you want I feel there is no point making comments about complex things that you make a passing comment on and then leave it. Some of the issues you raise cannot be tackled in the two minutes you give them and, therefore, just become a generalisation and not a meaningful comment nor a solution.

    My main gripe is that you seem to confuse the words social and socialism as if they were one in the same or interchangeable. (Not just this show) Having lived in the the US for 18, months and I know that’s not probably long enough, and having watched and taken an more than a passing interest in American politics, I can only say how misguided people seem to be if they believe that for example healthcare and education are some form of commodity and that end up in the domain of the wealthy. I would put it to you that healthcare and education are essential for any country to go forward and should be within the reach of all citizens which in turn benefits the country as a whole. Some doctors and educators should take a real long hard look at themselves. When I was in the US I was also appalled to hear that a bill to expand public transport in Seattle (where I lived) was the thin edge of the wedge and a slippery slop to socialism. As I travelled down the 405 towards Renton I couldn’t help but reflect on how dumb those comments were as I drove past the 5 lanes of traffic at a stand still at the ‘s curves’. All the time the arguments were raging on how they should shutdown the MOV lanes and no new buses because it was undemocratic, social engineering (socialism) and it was every persons right to own a car. Unbelievable!

    If I could be so bold and point out to you that in New York the home of capitalism they have have some very good public transport. No socialism there!

    There needs to better access to education, healthcare and projects like public transport for all and they should never have become part of the realm of entrepreneur in the way they have. Without breaking this cycle of current thinking then it does not matter what government is in place and that the US will continue to track down the same path.

    I guess this is a call for social justice and social norms.

    I think your comments on civil unrest in the USA are not unfounded, however, the situation was well set up by the Bush Government a long time ago. After all he started the bailout process. You may think that Barrack Obama is to blame but I think what he is pointing out is the cause and effect of the current American way and that if you don’t start getting on top of this rampant greed and go back to a more conservative form of capitalism the consequences of those actions will be fulfilled.

    Before I get electronically keelhauled on your site I am not advocating free education or free healthcare nor am I advocating that there be restrictions on peoples freedoms I am merely pointing out that a number of people go through life with blinkers on and can’t see any other way to conduct themselves other than their own way. Furthermore, the leadership in the US should have done more to stop this whole mess in the first place. It’s all very well and good for those people to come out now and tell every one what to do and how to fix it, but where were they when it was starting to go all pear shape. If the average family can manage their affairs in a responsible way why can’t the leadership both in government and business, in which so much is entrusted to, do their jobs properly. To that end they were all complicit and are just as much to blame.

    My mantra hear is that I believe in working hard and getting ahead and having empathy (being socially minded) for my fellow human, but what I would like to believe is that my efforts are not just for myself but that I have made a contribution to the country in such a way that others will benefit as well and I from their efforts. Furthermore, given that I have helped my country in a positive way I would like to think that my country would also give something back to me along the way to ensure my and my family’s life is a better one.

    This is balance.

    I know what some of you will say and make a number of general comments about bums and welfare cheats etc and I agree. But when the system is responsible for exacerbating the problem then it’s hardly the peoples fault. No point playing a game of musical chairs when there are 10 people playing and only seven chairs. I think you get my point in all this.

    Cheers
    TonyW

    • On January 29, 2012 at 6:15 am,
      Dennis Brophy says:

      To Tony W; now this is an observation [...Having lived in the US for 18, months and I know that`s not probably long enough...My mantra hear is...but that I have a contribution to the country...Furthermore, given that I have helped my country in a positive way...] Now what country, is your country ? Perhaps you have given blood at a blood bank or paid some sales tax where you are presently living? But 18 months living here and you want something back, really? Could that be a green card? Or a get out of reach of the INS free pass card? Just wondering.

      • On January 29, 2012 at 9:28 pm,
        Tony W says:

        No Dennis

        I am an Australian living in Hong Kong and far be it form me to tell people how to live their lives, however, being a casual student of US politics and knowing that people around the world pay attention to what goes on there and how it affects all of us. It’s my country, your country, all countries that a balanced approach needs to be applied albeit as hard as it may be.

        No need for any cynicism on your part. Instead of playing the he must be wanting something card or he is a fugitive card you might try engaging in the conversation. Just wondering and just saying.

    • On January 29, 2012 at 3:41 pm,
      Big Al says:

      HI TonyW,

      I would like to discuss this comment with you. Please send a telephone number where I can reach you to my e-mail address which is alkorelin@gmail.com

      Thank you,

      Big Al

    • On January 29, 2012 at 6:40 pm,
      Matthew says:

      Tony W,

      A truly free market complete with a level playing field, sound money, and a free market in money and credit, is the best way to ensure fairness in every facet of life. The problems with healthcare and education are the result of increasing collectivism, not free markets. Collectivism, by the way, covers all forms of socialism, from communism to fascism. There is currently not one place on earth that doesn’t practice it. It is based completely on force, not cooperation. Power is centralized and theft institutionalized. The individual is always subject to the whims of some group. For the “greater good” of course.

      When you decide that any good or service is a right, you are simultaneously deciding that those who must provide the good or service have no rights. Government is merely a very expensive, well-armed middle man. It has no resources of its own. It must take, in order to provide.

      The single biggest reason, by far, for soaring healthcare costs is unsound money. Central banks and the unsound money they emit are the foundation of socialism since the two make massive wealth transfers a snap. It’s a reverse Robin Hood setup, since currency debasement hurts the poor more than anyone. This system breeds dependence, and those who are being provided for have neither rights nor the need for understanding. It leads to an idle mind since expertise, ingenuity, competition, ability, discipline, and even virtue, become optional – not necessary for survival. This system brought us The Jerry Springer Show and the entire generation it’s a reflection of.
      “Purity of mind and idleness are incompatible.” — Mahatma Gandhi

      The very LAST place in which the government should be involved is healthcare and education. Could there be a clearer conflict of interest? Allowing true competition would both bring costs down as well as push quality up. The best would thrive while the worst would fail. Is that not a good thing when it comes to your health and education?

      “A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.” — Ludwig von Mises

      Wall street has always been full of collectivists. They hate competition and risk. They love monopolies and subsidies. They seek favor with the government and get it. Crony capitalism is NOT capitalism. It IS socialism.

      The following quote couldn’t be truer today. Sadly, 99% of the population will never understand.

      “All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.” –John Adams

      • On January 29, 2012 at 8:07 pm,
        castanheiro says:

        Hello Matthew,
        Beautifully and succinctly stated. You are a statesman par excellance!

        • On January 30, 2012 at 11:57 am,
          Matthew says:

          castanheiro,
          Thank you for the compliment! You are very generous.

      • On January 29, 2012 at 10:13 pm,
        Tony W says:

        Matthew I hear what you are saying I think

        What you have highlighted in your prose is that we can only live in and choose between two extremes one untenable to the other but both being incompatible with humanity.

        Socialism oppresses people until the people rise against it and capitalism turns into some form of socialism which eventually oppresses the people. Sounds like a no win situation for all so there has to be a better way.

        I appreciate all the quotes but feel that while some quotes are timeless and relevant some just don’t cut it today and clogs peoples minds up to new thinking.

        So what is the common thread to all this. It’s the human being himself that cannot control their urges and must therefore be regulated. Ask yourself would you like to watch a game of tennis without linesmen and referees. Why do you think we have umpires and referees in the most basic of all human behaviors – competition.

        I am not suggesting for one minute that we need government to control education or healthcare I am merely saying that that these two pillars of society should be made available to all in an equitable way and with that being achieved the country as a whole benefits. In other words education and healthcare do not belong in and can not belong as part of growth source for capitalists because it involves human skills and a healthy dose of empathy to manage it. Humans are not widgets that can be statistically thought of or material that adds to the bottom line something that capitalism tends to do. As a result of unbridled capitalism the US has on of the worst healthcare systems and education systems on Earth. I don’t think you can blame socialism for that. Your leadership both in Government and in business has let you all down severely. Shame on your business leadership and shame on the government for not controlling it.

        So I guess what I am saying in all this is that it’s time to think outside of what we have all grown up with and think of new ways to ensure that everyone can lead a healthy and prosperous life. One way this can be achieved is that government must be strong for the people all those who would do the people harm.

        Of course the problem is bigger than both of us I cannot possibly put in words all my feelings on the subject plus the fact it would only look like a poor second to your excellent post.

        Thanks for engaging me in this.

        Cheers
        TonyW

        PS
        I agree with you that governments around the world are inefficient behemoths that need to get back to the business of working for the people.

        • On January 30, 2012 at 10:15 am,
          Matthew says:

          Tony W,

          First, I can assure you, as well as a close study will assure you, that, aside from the first, more subjective quote, the quotes I have provided you are as relevant and true today, as ever.

          Now, referring to your first sentence, I have to wonder how you can call cooperation extreme. And “incompatible with humanity”?!

          I am very reluctant to make the distinction that seems so necessary today, between “crony” capitalism and “free market” capitalism because the first is not capitalism at all. In this age of ignorance, few know the precise definition of anything anymore.

          In your second sentence, you imply that capitalism turns into socialism because of its own shortcomings, when in fact, any and all corruption is due to the actions of man. Again, please explain how you can improve upon a system based on cooperation. Your conclusion that there has to be a better way is not logical and in fact flies in the face of all human history. The answer will never be found in a “one size fits all” utopian solution. It’s neither possible nor desirable. Yet people everywhere look insane as they keep pushing for something human history tells us is impossible.

          In your fourth paragraph, you show that you’ve been a victim of socialist propaganda. Don’t you know that free markets REQUIRE the rule of law. Particularly contract and fraud laws. Even more importantly, they require something which you have not seen in your lifetime — the EVEN APPLICATION of the law. No favorites, no favors. Did you notice that there have been no arrests on Wallstreet for mortgage fraud or anything else. What about MF Global? There are plenty regulations and laws, yet no enforcement. Instead, there are bailouts and QE to prop-up insolvent banks. Society is paying for the losses. This is PURE socialism. Doesn’t it make sense that the elite would blame a system that they are not at all in favor of, if they could?

          Your view on education and healthcare are totally misguided. You ignore the fact that the two are even less essential to life than the food a farmer grows. All goods and services, labor and expertise should be subject to the demands of the marketplace. The alternative is force. What we have today is force. Monopolies, subsidies, and entitlements all equal force. Unbridled socialism is absolutely the cause of the problems you speak of. There hasn’t been true capitalism in the U.S. since the creation of the Federal Reserve almost 100 years ago. The massive problems in Europe are also due to socialism. By the way, monopolies only exist where a level playing field does not. Only by curtailing competition do we end up with the “too big to fail” corporations. Onerous regulation on the little guy and subsidies and tax breaks to the big guys, are just a few examples of how competition is squashed.

          The sustainability of capitalism is limited only by ignorance. Since enlightenment ebbs and flows perpetually across generations, no system will enjoy stability for very long. The best we can do at any given time, is to teach common sense fairness. Adherence to the Golden Rule would be a great start.

          Like the majority, you have observed events, then drawn conclusions without first making sure that you are equipped to do so. To be clear, I am suggesting that you have not made an unbiased attempt, of any depth, to understand what socialism really is in all of its forms. When the needs of the collective are placed superior to the needs of the individuals who make up the collective, you have socialism. Of course, the benefits to the collective are imaginary, while the costs to individual rights are very real. Socialism is, at all times, unsound; even in its nicest form and application (Scandinavia?), it is based on force, not respect. It runs on the transfer of wealth from the poor to the rich.

          You are right that it is time to think outside of what we have all grown up with because what we have grown up with is an accelerated trend of increasing socialism the world over.

          Fraudulent, Keynesian economics is taught at every university for a reason. The game the socialists have going is so good (for them), they must protect it at all costs. Keynes himself admitted the following:

          “The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”

          Don’t take my word for anything I’ve stated. But, study the Austrian school of economics before connecting dots based on the distorted signals and propaganda that are so prevalent today.

  13. On January 29, 2012 at 2:07 am,
    James C says:

    Tony, you have some good points. On the other hand, government uses inefficient practices when trying to accomplish huge tasks such as mass transit. They way underestimate large projects, get the public to buy in at the lower rates, then drag out the projects and overtax the public. If there were a way to make them more efficient like “for profit” companies, they would be better stewards of our taxpayer money. Unforetunately, politics seems to always get in the way and drag out and delay results. That’s one reason that China can leap frog over us when it comes to maintaining the country infrastructure. What do you think?

    • On January 29, 2012 at 3:43 pm,
      Big Al says:

      HI James C,

      I personally think TonyW has raised some interesting points and I look forward to talking with him on the telephone.

      Big Al

    • On January 29, 2012 at 10:57 pm,
      Tony W says:

      I agree entirely James. Governments get themselves all tangled up in processes and procedural stuff and no one wants to make a decision. It’s called ‘error by omission’ if don’t do anything or make a decision on it then no one can blame me for it going wrong which is where all the inefficiencies lie. They devolve the decision making process amongst many departments then if it does go all wrong, over budget or is delayed out come the fingers and the blame game begins. To that end the US Government is broken. In China where I live things do get done quickly albeit unilaterally. I am not for one minute suggesting we go that far but a healthy balance between the two would be a good baseline to set. Basically in china they practice a form of communism/capitalism in their approach to getting things done. You can do whatever you want but don’t screw with the government or politics. Of course there is a lot of corruption amongst all that which seems to be a national past time with a heavy price to pay if you are caught. How long it lasts before there is other change who knows?

      Cheers
      TonyW

  14. On January 30, 2012 at 6:37 am,
    cfs2000 says:

    I was a little disappointed Big Al, you did not discover a bunch of new interesting companies for us to check out.