The following is my message for this Independence Day July 4th 2021, enjoy the day and celebrate what we have done and are going to do!   Robert

The Wealth of Nations

Adam Smith

Lest we forget or, in fact, don't know, Adam Smith was born on 5 June 1723 in Kirkcaldy, Fife, Scotland and died July 17, 1790 in Edinburgh, Scotland. He was an Economist and Philosopher. The book he is most remembered for, Wealth of Nations, was first published by W. Strahan and T. Cadell, London on 9 March 1776; interestingly, that same year America declared its independence and began its rise to the pinnacle of economic power and freedom by devoutly following Smith's recommendations. Smith today is known as The Father of Capitalism. Every recommendation in Smith's book is based entirely on the obvious, or what should be obvious, common sense, is indeed the bedrock capitalism rests upon!   

Understanding and practicing Smith's philosophy is vital and foundational to America's success. Whenever and whereever we've strayed from the book's precepts we faltered. Today, we (all mankind) are standing on a great divide between the forces of Marxism, a dark, self-devouring, anti-human, grotesque, satanic totally unworkable and illogical social construct and the golden opportunity our country is built upon of individual economic freedom and equality of opportunity with the smallest possible intrusion by government. That, at least, was and is Smith's idea!   

The first suggestion in The Wealth of Nations is that many regulations on commerce are ill-founded and counter-productive, strangling economic growth and diminishing the entrepreneurial spirit. Restrictive regulations must be kept to the bare minimum. Then, gold and silver constitute real wealth; beware of fiat currency tied to nothing- that leads only to perdition and poverty. Countries should boost exports and resist imports in order to maximize internal industrial capacity, create employment and grow wealth and wages. Smith believed that a nation’s wealth is tied directly to the flow of goods and services it creates. Today, we call that GNP (gross national product) and the lesson should be obvious- sadly- it too often isn't.

To retain ones industrial capacity is an indicia of patriotism. The selfish greed by certain companies, meaning here all those who abandoned America for the wretched criminal commies in China can be blamed for much of  the destruction sand diminished capacity of  our beautiful economy and country. Ford just hut down auto plants laying off thousands because they can't get computer chips which they were importing. Maybe you can't get your meds because they're made in China?

Those who would outsource what can be made at home to save a few pennies are true enemies of all freedom loving Americans and must be rejected. Do not ever buy any product made in China or anywhere but America "Made in the USA" must be the rule. There is no such thing as a "world economy." there is only THE WEALTH or not OF NATIONS!  Having traveled myself to almost every country, I can tell you unequivocally that poverty is the case for the majority of humanity. American industry must be protected. We cannot survive flipping burgers for each other!

Smith said; the way to maximize wealth and provide the freest and happiest life for the people is  not to restrict the nation’s productive capacity, but to set it free! America went

against its own interest to the degree it out-sourced it's industry to China and other countries seeking cheap labor. Smith understood this principal and warned us! Now I'm re-warning you in hopefully a 2021 language you will get! WTFU (wake up) got it?

Another central idea Smith made clear is that productive capacity (meaning unit output) rests on the division of labor and the accumulation of capital that makes production possible. Huge efficiencies can be gained by breaking production down into many small tasks, each undertaken by specialist hands or machines. (Henry Ford, so obvious) This leaves producers (company managers and owners) with a surplus they can invest in new and more efficient labor-saving machinery or expand, into other areas and hire even more workers whilst paying higher wages, thus increasing the wealth of all. What is so hard to understand? Capital creates, in and of itself, safety, personal happiness and- most of all freedom! Absent money, the individual and the society are impoverished and without joy. Imagine Ciba, Russia, Venezuela and all the other sad socialist dumps.

Smith went on to say that a country’s future income depends upon capital accumulation. The more that is invested in improved productive processes, the more wealth will be created in the future. If people are going to build up their capital, they must be confident it will be secure from theft. The countries that prosper are those that grow their capital, manage it well, and protect it. Printing increasingly worthless paper money as a means of exchange is pure and simple theft. Every single dollar the idiot Fed Reserve prints at the behest of our insane whacko leftist Federal Government with nothing to back it up weakens the nation's economy and, to that extent, impoverishes the people. It must stop or, I guarantee, they (the federal idiots) will stop us! 

How bad it is? Well, in July 1944 ( knowing that the Nazies would going to lose the war) delegates from 44 countries at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire decided that the US dollar would the reserve currency of the world, meaning that all other currencies were pegged on an exchange rate to the American greenback. Back then, it was valued at 100 cents. Over time, on to 1971, when Nixon took America off the gold standard completely, the dollar was pegged at about .40 cents and the government wasn't permitted to print a dollar unless they had 40% of the value in real gold. The politicians, seeing that unless they could print all the money they wanted, couldn't pander and buy enough votes to stay in office.

With now nothing to stop them, the idiots could (and did) freely print all the money they wanted. The presses began rolling and haven't stopped since. You will be glad to know that today, your 2021 dollar is valued (compared to 1944) at .2 cents and falling. The truth is that it actually costs more in ink, paper, labor and machine wear to print a one dollar bill than it's actually worth. Yes, the =dollar is finished and it's not coming back. Prices are climbing every day, a gallon of gas costs more almost daily. Food prices are soaing along with everything else. Good luck!

Smith's fourth idea is simply the law of supply and demand which is nothing but good old Scottish common sense. Where things are scarce, people, limited by the extent they want them, are willing to pay more. There's obviously profit in supplying items that are scarce. It follows that producers might invest more capital to produce such items. Conversely, where there is a glut, prices and profits fall, producers take their capital and enterprise elsewhere. Industry thus remains flexible and focused on the providing a nation’s most needed items without meddling by government. As my old friend Sam Clemens said," the uncommon thing about common sense is that it isn't very common!"

The system is automatic and responsive only when and where there is free trade and

competition. When governments grant subsidies (for example, renewable energy that doesn't work) or helps monopolies (Google, FB, Amazon) because they censor conservatives or shelter them behind special regulations, (for example, section 230, tariffs or other conditions where those favored can charge higher prices), the nation suffers. Often the poor suffer most from this, facing higher costs for necessities (rent, food, transport, gas).

Further, The Wealth of Nations  tells us is that competition and free exchange are under threat from monopolies and other privileges that manufacturers and contractors obtain by paying kick-backs ("campaign contributions you know, perfectly legal old boy") to government officials and authorities. For these and many other reasons, Smith believes that government is inherently evil and therefore must be limited. Here he agrees with Hyack's The Road to Serfdom, Orwell, Hannah Arendt, Ayn Rand and myself. (good company)

Government must be limited to the core functions of defense, civil order, building public infrastructure and promoting (but not at all directing) education. It should keep the market economy open and free, and not act in ways that distort it. Unfortunately, in America we have allowed the federal government to metastasize into a lethal, strangling monstrosity. We either kill it or- it will us! How bad is it? Back in 1950 we had just 63 separate departments and agencies- today, that number has increased to over 700 (80% of which you have never heard of-nor has anyone else)  the bureaucratic world today is a living, breathing nightmarish creature set on totally devouring the Nation's wealth!

Free trade; just as individuals gain from specialization so do nations. It's silly trying to grow grapes in Alaska when they grow easily in California. A nation should do what it's best at. Stupid restrictions on international trade (tariffs. set asides, etc.) inevitably make both sides poorer. Legislators always think that by intervening, (creating ever more stupid regulations) they can direct production better than the market can.- They can't!

Smith, like all prescient individuals then and now, is often critical of government and the masses of grey, mostly poorly-educated bureaucrats and elected forever fat-cat crooks in striped pants ruining the show. He and I, along with all intelligent prople, are not recommending (advocating) a purely laissez-faire kind of free-for-all economy. We believe (know) that a successful market economy can function and deliver its benefits best when common sense rules are observed. The ownership of property (real estate, individual wealth and securities) must be safe and secure. Contracts must be legally honored by all parties. The maintenance of justice and the rule of law is therefore vital and clearly the purview of good and just government.

The "just" government however must be entirely even-handed with no special favor given to friend or foe. Unfortunately, today, in Biden's America, under the detestable lefties and "wokers," were seeing the federal government delivering two kinds of justice- hands-off for lefty miscreants and criminals like Hillary, Hunter and his crooked father and another for good men like General Flynn and other conservatives who are attacked by bent lefty government prosecutors. This stops now or America is finished!

Taxes should be set with regard to the people and the nation's ability to pay. Taxes should aim to have minimal negative side effects and never be restrictive or counter to the interests of commerce. Government must never tax capital!  Capital is taxed once as it's earned and thereafter must not be touched. The so-called death tax is a prime example of destructive government overreach. Government must operate strictly within a neutral budget spending only that which it receives and must never ever permitted to run a deficit. To do as we are is purely insane and definitely the road to ruin!

That government is allowed to spend more than it receives is indicative of mental disease  and hugely damaging. That they are then allowed to print money whilst accumulating unpayable debt is suicidal. Today, the debt is approaching some $30 trillion and the country is effectively beyond bankrupt. Yet, under the idiot Biden, they are proposing another $6 trillion to finance climate change insanity. Truly, the feds have lost all touch with common sense and entered into a grey and dangerous foggy world of make believe.

The Wealth Of Nations shows us all a true pathway to prosperity and provides tools for coping with difficult economic problems. Our American economy is a reflection of who Americans themselves are and need to be; free unfettered, bold, brave, Intelligent, educated and ambitious. We must be strong, ready and able to face down any enemy, overcome any obstacle and we must get rid of the nitwit Bidens of this world and return our country to sanity. Smith told us how!

Robert