BALTIMORE – Yesterday, the Dow rose over 18,000, the first time since April.
Hillary is riding high, too. She is a pro. She has the entire Deep State behind her – including almost every crony and zombie in the country… and a political machine that can turn out more claptrap than any in history.
While her opponent rambles incoherently and mindlessly, every phrase from Hillary’s mouth is a carefully polished imbecility.
Still believe in democracy?
We have on our desk an unremarkable book by an unremarkable man.
The Confessions of Congressman X is a slim volume of slim insights and thin commentary from a coward.
Not that we have anything against cowards. We duck and dodge along with everyone else.
In the Vietnam War, we had a student deferment… and a decent lottery number… along with millions of others.
(Despite our best efforts, we did get the benefit of a short, all-expense-paid ocean cruise, and more than enough beach time at Coronado Island, San Diego… courtesy of the U.S. Navy. Did we fail as a coward? Or fail as a hero? Like most people, it’s probably a little of both. But we can confidently report that, although we may have run over an innocent fishing boat or two, on our watch at the radar screen, we never posed any real risk to the Viet Cong.)
And now, even in our battle of wits, we engage only with unarmed opponents… and even then only when we think we have overwhelming firepower… and when odds are at least three-to-one in our favor.
Like a playground bully, we look for weakling ideas to assault, preferably those with a major mental handicap.
Still, while we may cower behind a bush from time to time, we step right out in the open to give credit where it is due. We tilt our cap to real heroes… and save plenty of snide remarks, contempt, and mockery for the rest of us.
At least Congressman X has his eyes open. He offers “revelations” about the way Congress really works.
But he will not reveal his identity. Nor does he show any inclination to challenge the system in any way.
Again, we are on his team.
Trying to improve the world – or even the U.S. Congress – is a lost cause. Besides, why bother, if you can take advantage of it as it is?
In his shoes, we would probably do what he is doing; better to enjoy his minor celebrity status, a good income, and the rich perks of a Member of Congress.
As they say in the Navy, “Rock the boat and you will soon be in the water.” Here Congressman X tells us his career strategy:
To get along you have to go along. Grow old, hold your tongue, vote the party line, and one day maybe you’ll get a key committee assignment or chair of a subcommittee. In the meantime, pay attention to the needs of your big donors.
In this election year, voters imagine that they have the fate of the nation in their hands.
They step into the polling station, their shoulders sagging under the weight of the responsibility and gravity of their commission, their hearts aflutter at the authority they wield.
But they are too faint-hearted to even dare think about what is really going on. Congressman X:
The voters… naïve, self-absorbed sheep who crave instant gratification. Most are mentally lazy and bore easily. It’s all about style, not substance. Memorable slogans, catchy metaphors, bite-size non-thoughts. Entertain their emotions and you’ll win their hearts.
The average man on the street actually thinks he influences how I vote. But unless it’s a hot-button issue, his thoughts are generally meaningless. I’ll listen politely. But I follow the money.
We saw the laziness and cowardice on display at the University of Vermont commencement. [Catch up here.]
You remember the ubiquitous themes: The world needs to be fixed… the kids know how to make it a better place… all they have to do is “care.”
It was all conceited nonsense. But the fellows in the robes didn’t even care enough to ask if it was true.
Now, we see it almost everywhere. Self-serving myths and flattering fantasies rule the nation… and go unchallenged.
And nowhere more than in Washington, D.C. Congressman X again:
I’ll tell you whatever you want to hear. In fact, I’ll tell you with conviction and sincerity. In fact, I’d have to say that I’ve learned to fake things pretty well.
Is it a lie if I truly believe what I am saying? As far as I am concerned, whatever viewpoint I embrace is the truth.
Yes, dear reader, we are a lazy, pusillanimous nation. We live in the warm embrace of comforting illusions… and nurse at the sweet breast of someone else’s money.
And why not?
It is easy to wallow in whatever cheap claptrap is popular. Much easier than opening your eyes and ears and trying to figure out what is really going on. And the Deep State rewards submission.
You could get a medal… or even a pension… from the Pentagon. You could get a job in Washington… or even a seat in Congress. Or you could collect a welfare check… a subsidy… a tax break… disability… Medicare… They can give you permits… licenses… parking spaces… and even fix your speeding tickets.
So, we worship our ersatz heroes… and try to put the real ones in jail.
Here, let’s give the dishonorable Congressman X the final word:
I’ve come to the conclusion that the whole Washington scene is a diminishment of civilization. Our country is in free-fall to mediocrity and Congress is leading the way.
Further Reading: As Bill keeps saying, it doesn’t matter who’s sitting in Congress or the Oval Office. The Deep State already controls just about every aspect of your life – from health care… to education… to the food on your table… to the never-ending War on Terror.
In Bill’s latest online presentation, he exposes how the Deep State has pushed the world to the brink of an irreversible disaster. To hear how it will all unfold – and, more importantly, how it’ll change your life forever – go here now.
By Jim Rickards, Editor, Rickards’ Gold Speculator
What happens when a bona fide member of the elite endorses gold? That’s an earthquake, and it just happened!
Kenneth Rogoff, Harvard professor, chess grandmaster, and author of the widely acclaimed book This Time Is Different, just sent shock waves through the global elite by recommending that emerging-market central banks buy gold to diversify their portfolios away from dollar holdings.
And J.P. Morgan Private Bank is also recommending its clients “position for a new and very long bull market for gold.” This bank is only open to wealthy clients with at least $5 million of investable assets. Later this year, the bank will require at least $10 million of investable assets. This is not for everyday Americans.
The super-rich and the elites are now selling stocks and buying gold. And for good reason. Gold has fundamental support from Chinese and Russian efforts to get away from the dollar system. It also has technical support from scarcity on the physical supply side. Gold is flying off the shelves.
Some smart money is moving in as well.
In recent days, hedge fund superstar Stanley Druckenmiller has come out in favor of physical gold, saying the bull market in stocks is exhausted and gold is his largest currency allocation.
At a recent high-profile investment conference, Druckenmiller described gold as follows: “Some regard it as a metal. We regard it as a currency, and it remains our largest currency allocation.”
Druckenmiller understands gold. Do you?
Meanwhile, get this…
China and Russia are stockpiling as much gold as they can before the price goes up.
For each of the first four months of 2016, Russia has added an average of 15.5 tons of gold to its reserves. If this rate of buying persists through the year, Russia could acquire 187 tons of gold in 2016 alone.
China has been buying thousands of tons of gold in recent years and has been the second-largest gold buyer so far this year. Not to mention it’s still the leading gold producer in the world.
China has also expanded its gold mining output and its gold refining capacity. And it’s set up a physical gold exchange and gold futures exchange in Shanghai.
Overall, the Chinese look set to snatch the “gold capital of the world” title from London. They recently decided to hasten the process by buying one of the largest gold vaults in London.
Soon China will have a stranglehold on global gold trading.
The elite… the smart money… and central banks… are all hitting the buy button.
So is now really the time to buy gold? Absolutely.
Editor’s Note: But, before you buy a single ounce of gold, read Jim’s urgent announcement. In it, he reveals where gold is headed and what you can do about it. But hurry… he says this rare window of opportunity is closing fast.
To see Jim’s urgent gold announcement, go here while there’s still time.
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Russian stocks have been in a brutal bear market for the last five years. But this chart says the downtrend may be ending. That means higher prices could be on the way…
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Have you ever wondered if your portfolio is the right one for you? If you answer “yes” to these 11 questions, you’re on the right track. If not, you may have some work to do…
Lots more great reader feedback on this highly charged subject in today’s Mailbag – including more cancellation requests…
I am disappointed in your “evaluation” of both Cassius Clay – alias Mohammad Ali – and of the U.S. involvement in preventing the spread of Communism in SEA.
Neither he nor you are patriots. Cassius was a coward and definitely not a hero!
I served in Vietnam as a USAF Rescue Helicopter pilot, flying over 100 combat missions (while traitors like you and Cassius created chaos here at home) and saw personally the barbaric results of Communist influence there, as they exterminated innocent citizens by execution in public.
Cassius was a draft dodger and, at the time, only concerned about his title and his potential wealth. You are among those who created dissention and disloyalty to the greatest and most compassionate country that ever existed, the United States of America.
I am always puzzled why you and Cassius don’t immigrate to Russia, China, Cambodia, or Iran where there is a perfect Utopia! Please cancel my subscription to your newsletter… immediately!— Ron R.
If you don’t “have time to read all the howls of protest from readers,” then don’t write your pathetic arrogant comments that have nothing to do with investments.
As a decorated draftee who did my patriotic duty for my country in “the hot sweats of Da Nang,” I am highly offended by you calling me a coward. Look in the mirror.
Now, I question why I pay someone like you to talk to me in that disrespectful manner.— Curt B.
No hero in my thinking. I am with all of the 50k who did pay the price for Johnson’s and the Deep State’s folly. Big mouthed and punch drunk. Give all his money to Elijah Mohammad and the Black Muslims. Stupid is a better word.— Alfred N.
Count this as another angry email in response to your Ali courtship. He was nothing if not a fraud.— John T.
Cassius Clay was a draft dodger – but the Supreme Court called him a “conscientious objector.” He refused to serve his country in any capacity, but rather joined the Nation of Islam and used his newfound religion as an excuse to avoid the draft.
I believe he thought his popularity would protect him from legal retribution. Fortunately, it didn’t. Unfortunately, his punishment only lasted three years. I fail to see how this man is a model to be praised and am astounded at the level of adulation we see in the media.— Albert A.
But it wasn’t all bad… A number of your fellow readers understood exactly where Bill and Ali were coming from.
I think some of today’s commenters (the vets) miss the point. There’s lot of nonsense written about “protecting the country.” Nobody is too clear on how. Or from what or who. Or whether or not it was necessary. Or even possible to accomplish.
But Ali’s stance was a response to his own experiences in America. In short, he was being asked to go out and protect some other fella’s country. Why would he consent to that?
Sounding like a world-improver, we need more draft dodgers and less vets.— Nick P.
I continue to be amazed by the uninformed folks who call Muhammad Ali a draft dodger. The guy didn’t attempt to dodge anything. He didn’t run. He stood right in front of the draft and defied it. Then, when the war was proven to be an epic failure, he was proven correct.
If more Americans would come to the realization that doing their “patriotic duty” against tiny countries around the globe is nothing but old men getting young men killed in the name of ego and continuing the march of the military/industrial complex, we would not continue to lose these Americans before they even get to experience the best that life has to offer.— Al A.
Excepting Jesus, in all of history there has been no better role model of a real man than Muhammad Ali.— Larry K.
Your take on Ali was spot on. Let the Kool-Aid drinkers cancel their memberships. We will still be with you, Bill.— C.T.
My hat’s off and across my chest to all those that served in Vietnam. And heartfelt sorrow for those that came back in a box.
I remember well my draft number – “153” – in 1972. First thing I did that morning was go to the corner newspaper box, inserted a dime and took out a paper to find out what my draft number was for that year. They only were going to call up to the 70s or 80s, so I was safe (probably)…
But we’re back to the old debate of the Vietnam War. Should we be there and defend America and democracy from the spread of Communism” Or should we leave that little country half a world away, to its own destiny?
And Ali? I was blinded by the advertiser-based-press and never went back to get the true story. RIP, Ali, my brother in spirit. Where do we go from here, Bill?— Brad H.
Ali was a brave American patriot… not because he resisted the draft, but because he was willing to pay the price for his belief. That is what this country was initially founded on.
I chose a different path and supported my government, not because I believed in the war, but because I believe you must support the promises made by your government, just as you must support your personal promises. Same coin, different sides.
Without BOTH sides of the coin there can be no progress toward the potential that is America. Those who went to Canada weren’t even on the coin. They accepted the "pardon" with very little consequence, aside from the inconvenience of living in Canada for a while.
As for the Deep State, its time is coming. The American public is fed up with the B.S. Remember the Bastille?— William C.
Muhammad Ali once spelled out what he wanted as his legacy:
“I would like to be remembered as a man who won the heavyweight title three times, who was humorous, and who treated everyone right. As a man who never looked down on those who looked up to him, and who helped as many people as he could. As a man who stood up for his beliefs no matter what. As a man who tried to unite all humankind through faith and love. And if all that’s too much, then I guess I’d settle for being remembered only as a great boxer who became a leader and a champion of his people. And I wouldn’t even mind if folks forgot how pretty I was.”— Kent D.
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