POITOU, FRANCE – Yesterday, Donald Trump, president of all the Americans, said his country would spend more blood and money trying to force the Afghans to do what it wants them to do, whatever that is.

And so… a darkness covered the land.

From Sioux City to Savannah… a shadow passed between Earth and sun.

Strange and fearful events were reported. A calf was born with two heads outside of Des Moines. Pomegranate trees flowered in Manhattan. An LGBTQQ+ person wondered WTF?

The people were sore afraid.

Nowhere was the darkness deeper than in the nation’s capital. There, no light shone. No flicker of awareness… observation… learning… or reflection appeared.

Lighting a Candle

Donald J. Trump had promised to light a candle. But it was nowhere to be seen.

Five years ago, he said, “Ron Paul is right.” The Afghanistan adventure was “wasting our money.” It was a “total disaster,” he added.

He asked, “What are we doing there? These people hate us.” Then, a year later, he said, “We should leave Afghanistan immediately.”

And in his bid for the White House, he had offered something better. “America First,” he called it. Instead of trying, fruitlessly, to build a better country in the Hindu Kush, he would try to build a better country at home!

No more losing wars. No more strangling regulations. No more losing deals with the rest of the world.

Even from the mouth of Donald Trump, these promises sounded good, good enough to win the nation’s highest office.

Democratic Sham

You will recall, the election of Donald J. Trump brought controversy to the Diary; many Dear Readers got very cross with us. Today, we back up to look at what the fuss was all about.

In the first place, we believe that democracy, as practiced in a big, degenerate empire, is largely a sham. Voting is a waste of time; we said so then.

In the second place, we thought the Deep State – the few insiders who really run the government – had either already made peace with Mr. Trump or would soon do so, after the election.

In the third place, we identified a chief cause of America’s economic malaise (as well as many of its other problems): the fake-money system, which encourages the buildup of debt and enriches Wall Street while reducing the real output and wealth of the Main Street economy.

In the fourth place, this fake-money system is the source of funding for the Deep State. It cannot give it up, no matter who is president. As long as this system remains in place, the Deep State will continue to grow – by legislation, regulation, hook or crook.

In the fifth place, you can’t really build a decent economy on phony money, debt, and forcing win-lose deals on the public. Each day that passes adds more debt, more complexity, and more misallocation of resources. Sooner or later, the whole shebang is going to blow up.

Just hours after the results came in last November, our view looked basically right. The new president gathered in the two most important branches of the Deep State – the Gunmen (representing the military-security industries) and the Goldmen (representing Goldman Sachs and Wall Street).

Obviously, a deal had been struck – or tacitly acknowledged. Wall Street and the Pentagon – “my generals” – were already part of the team. With them in place, Trump could be Trump with no fear of disrupting the Deep State’s privileges and position.

“No… he’s going to shake things up,” readers protested. “He’s our only hope…” “Give him time.”

But time and money are running out.

Ticking Clock

Yesterday, under pressure from the generals, Donald Trump abandoned the promise of an “America First” foreign policy. The U.S. has lost 2,350 soldiers in Afghanistan… and spent $1 trillion.

And now, even more resources will be brought to bear so that the longest, most pointless war in U.S. history can continue. Trump himself may be in favor of change. But U.S. foreign policy under the Trump administration is the same as it was under Barack Obama.

It favors the Deep State’s military-security industries – as it has for at least the last 17 years.

There is no change to Obamacare… or any other significant domestic program, either. The Deep State’s zombie support/medical-educational-retirement transfer programs remain in place, too.

But while Trump and the media focus on Confederate monuments… Russia… North Korea… transsexuals… and whirlwind crises, the clock ticks.

The feds have only enough cash for about six weeks of operations. Then, they will bump up against the current debt ceiling.

The Deep State must raise the debt ceiling in order to keep the fake money flowing. But raising the debt ceiling may not be easy.

Conservative Republicans will want to know: “With the national debt already headed to $30 trillion, just where do we think we’re going?”

“We’ll agree to raise the debt ceiling,” say the liberal Democrats, “but only if you leave O’Care alone.”

“Hey, what about that bridge in my district?” asks the independent.

And so, the darkness spreads…

More to come…

Regards,

Signature

Bill


Market Insight: Now Is the Time to Keep Your Eye on Gold


BY JAMES WELLS, EXECUTIVE EDITOR, BONNER & PARTNERS


The next few days could tell us whether a new bull market in gold has already begun.

Gold is already up 11% in 2017, outpacing the Dow’s 9.8% gain over the same time period.

But the two times gold prices got near $1,300 – in April and June – the rally petered out.

Now, gold is once again closing in on that key resistance line.

If it can break through $1,300, the gold rally could be off and running.

James Wells

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Mailbag

Today, the legacy of the American Confederacy continues to dominate the mailbag…

As a man, Robert E. Lee may have had some good qualities, but his judgment about the issue of slavery was clouded by his self-interest, and his racism. Your article minimizes and obfuscates this truth about the economic beneficiaries of racist slavery. To believe and assert that a subjugated and intentionally uneducated group is inferior, and that only God can help them in the course of time is Lee’s sadly incorrect conclusion.

Lee’s cruelty as a slave master was not confined to physical punishment. In Reading the Man, the historian Elizabeth Brown Pryor’s portrait of Lee through his writings, Pryor writes that “Lee ruptured the Washington and Custis tradition of respecting slave families” by hiring them off to other plantations, and that “by 1860 he had broken up every family but one on the estate, some of whom had been together since Mount Vernon days.”

– Jay V.

Your recent essay reminds me of another story about Robert E. Lee that I read several years ago. I’ll try to reproduce it as best I can recall: Two of Lee’s colleagues were having a discussion after listening to a presentation of the new theory of evolution. One of them was convinced. But the other argued “Perhaps I am descended from an ape. Perhaps you are descended from an ape. But I cannot believe that General Lee is descended from an ape.”

This speaks very well of the respect that was held for him.

– David F.

Bravo, to you sir, for your article on Robert E. Lee and how we ought to remember the Confederacy. Although I myself, am a “dyed-in-the-wool” “son of the north,” I do believe it is fully acceptable to show respect for one’s enemies so long as their mettle seems to warrant it. In the case of General Robert E. Lee, President Lincoln’s offer of leadership of the Army of the Potomac would seem to indicate that he was a man worthy of honor.

Again, I am compelled to, once more, commend and salute you for the gist of your essay; namely that we, in the present, MUST never allow ourselves to neglect, forget, nor fail to appreciate those who came before us, and laid the foundation, that we can so cavalierly criticize.

– Mel M.

Most Southerners fought to protect their homes (nation) from the northern intruders that wanted them dead and eliminated. In this, Southerners like Robert E. Lee were heroes. They were looked upon by the Americans in the South with great respect and deep devotion. This aspect was totally ignored when they tore down those statues.

– Thomas S.

You can call it what you want: War of Northern aggression or the fight to stop human ownership/slavery. The bottom line, and the only line that counts, is that the Confederate States of America (CSA) lost a war they started. The CSA created a separate constitution which included the right of human ownership. It is not the constitution of America today. The CSA lost and that is the point. They don’t get a trophy. We don’t invite the last-place NFL team to the White House to celebrate their loser status. In war, losers get nothing.

Robert E. Lee and Jefferson Davis lost the right of human ownership forever! Yet there are symbols of human ownership dotted across the South today. Build a museum, charge a fee! Losers only belong in museums.

– Doug M.

In Case You Missed It…

If you’ve been interested in the new world of cryptocurrencies, then we found an event you’ll want to attend.

This Thursday, our colleague Teeka Tiwari is hosting a free online cryptocurrency Q&A. During the event, Teeka will be answering readers’ questions about these new crypto plays.

As Bill has mentioned, cryptocurrencies aren’t an investment… not yet. But if you have some money to speculate with, it could be worth your while. Get the details here.