Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Stock Market Dow Long-term Trend Analysis - 16th Oct 19
This Is Not a Money Printing Press - 16th Oct 19
Online Casino Operator LeoVegas is Optimistic about the Future - 16th Oct 19
Stock Market Dow Elliott Wave Analysis Forecast - Video - 16th Oct 19
$100 Silver Has Come And Gone - 16th Oct 19
Stock Market Roll Over Risk to New highs in S&P 500 - 16th Oct 19
10 Best Trading Schools and Courses for Students - 16th Oct 19
Dow Stock Market Short-term Trend Analysis - 15th Oct 19
The Many Aligning Signals in Gold - 15th Oct 19
Market Action Suggests Downside in Precious Metals - 15th Oct 19
US Major Stock Market Indexes Retest Critical Price Channel Resistance - 15th Oct 19
“Baghad Jerome” Powell Denies the Fed Is Using Financial Crisis Tools - 15th Oct 19
British Pound GBP Trend Analysis - 14th Oct 19
A Guide to Financing Your Next Car - 14th Oct 19
America's Ruling Class - Underestimating Them & Overestimating Us - 14th Oct 19
Stock Market Range Bound - 14th Oct 19
Gold, Silver Bonds - Inflation in the Offing? - 14th Oct 19
East-West Trade War: Never Take a Knife to a Gunfight - 14th Oct 19
Consider Precious Metals for Insurance First, Profit Second... - 14th Oct 19
Stock Market Dow Elliott Wave Analysis Forecast - 13th Oct 19
The Most Successful IPOs Have This One Thing in Common - 13th Oct 19
Precious Metals & Stock Market VIX Are Set To Launch Dramatically Higher - 13th Oct 19
Discovery Sport EGR Valve Gasket Problems - Land Rover Dealer Fix - 13th Oct 19
Stock Market US Presidential Cycle - Video - 12th Oct 19
Social Security Is Screwing Millennials - 12th Oct 19
Gold Gifts Traders With Another Rotation Below $1500 - 12th Oct 19
US Dollar Index Trend Analysis - 11th Oct 19
China Golden Week Sales Exceed Expectations - 11th Oct 19
Stock Market Short-term Consolidation Does Not change Secular Bullish Trend - 11th Oct 19
The Allure of Upswings in Silver Mining Stocks - 11th Oct 19
US Housing Market 2018-2019 and 2006-2007: Similarities & Differences - 11th Oct 19
Now Is the Time to Load Up on 5G Stocks - 11th Oct 19
Why the Law Can’t Protect Your Money - 11th Oct 19
Will Miami be the First U.S. Real Estate Bubble to Burst? - 11th Oct 19
How Online Casinos Maximise Profits - 11th Oct 19
3 Tips for Picking Junior Gold Stocks - 10th Oct 19
How Does Inflation Affect Exchange Rates? - 10th Oct 19
This Is the Best Time to Load Up on These 3 Value Stocks - 10th Oct 19
What Makes this Gold Market Rally Different From All Others - 10th Oct 19
Stock Market US Presidential Cycle - 9th Oct 19
The IPO Market Is Nowhere Near a Bubble - 9th Oct 19
US Stock Markets Trade Sideways – Waiting on News/Guidance  - 9th Oct 19
Amazon Selling Fake Hard Drives - 4tb WD Blue - How to Check Your Drive is Genuine  - 9th Oct 19
Whatever Happened to Philippines Debt Slavery?  - 9th Oct 19
Gold in the Negative Real Interest Rates Environment - 9th Oct 19
The Later United States Empire - 9th Oct 19
Gold It’s All About Real Interest Rates Not the US Dollar - 8th Oct 19
A Trump Impeachment Would Cause The Stock Market To Rally - 8th Oct 19
The Benefits of Applying for Online Loans - 8th Oct 19
Is There Life Left In Cannabis - 8th Oct 19
Yield Curve Inversion Current State - 7th Oct 19

Market Oracle FREE Newsletter

Stock Market Trend Forecast Oct - Dec 2019 by Nadeem Walayat

America: In Memoriam

Politics / US Politics Jul 05, 2013 - 09:51 AM GMT

By: Jeff_Berwick

Politics

Christopher Casey writes: “Resolved, That these United Colonies are, and of right ought to be, free and independent States, that they are absolved from all allegiance to the British Crown, and that all political connection between them and the State of Great Britain is, and ought to be, totally dissolved.” — Richard Henry Lee, June 7, 1776


This proposal was adopted by the Second Continental Congress on July 2, 1776. So technically speaking, July 2nd is America’s true Independence Day. Certainly John Adams fully expected it to be celebrated as such:

“The second day of July, 1776, will be the most memorable epoch in the history of America. I am apt to believe that it will be celebrated by succeeding generations as the great anniversary festival . . . It ought to be solemnized with pomp and parade . . . from one end of this continent to the other, from this time forward forever more.”

July 4th is the day in which the Declaration of Independence was adopted as the rationale for the separation which had just occurred. The fact that Americans started celebrating the 4th, and not the 2nd, means their Independence Day was not the celebration of an act, but the acclamation of an underlying reason. It means Americans recognized that while many nations have been birthed in revolution, few have been reared in principle. It was perhaps the proudest distinction of Americans as they recognized this holiday far before the Federal government codified it as such.

And what is this principle? The recognition of individual rights derived from natural law, including the right of revolution. Amazingly, this discussion in the Declaration accounts for a fairly small portion of the document – because late 18th-century Americans readily accepted and agreed with these ideas. But they did not all agree that separation from King George was warranted, so most of the document is devoted to proving a conspiracy theory against the King: “when a long train of abuses and usurpations, pursuing invariably the same Object, evinces a design to reduce them under absolute Despotism.” The Declaration is primarily an indictment.

Today’s citizens of America are no longer late 18th-century Americans. By this statement I refer not to time, but to temperament. Few Americans today embrace the philosophy contained in the Declaration. Today in America, the exercise of individual rights is more alien than inalienable.

When did this change? While there are certainly many steps, both large and small, but I believe the definitive end can be marked by the Supreme Court’s reversal of Hepburn v Griswold (February 7, 1870). Hepburn found the issuance of fiat currency by the Federal government to be unconstitutional. Incredibly, the opinion was written by Chief Justice Chase – the very man who issued the “greenbacks” as Treasury Secretary. The reasoning behind his majority opinion was well stated:

“. . . to make notes a legal tender . . . carries the doctrine of implied powers very far beyond any extent hitherto given to it. It asserts that whatever in any degree promotes an end within the scope of a general power, whether, in the correct sense of the word, appropriate or not, may be done in the exercise of an implied power. . . It would convert the government, which the people ordained as a government of limited powers, into a government of unlimited powers. It would confuse the boundaries which separate the executive and judicial from the legislative authority. It would obliterate every criterion which this court . . . established for the determination of the question whether legislative Acts are constitutional or unconstitutional.”

447 days later, the Supreme Court reversed this ruling with Knox v. Lee (May 1, 1871). With Knox, every criterion was obliterated. All it took was the  appointment of two justices by President Grant. Such was the fragility of American liberty.

Knox did not inflict the first damage on the Constitution, for it had previously sustained Marbury v. Madison and endured McCulloch v. Maryland.[1] It was not its last breath, for Korematsu v. U.S. and Wickard v. Filburn awaited.[2] But it was the last chance to restore restraint. Knox was the mortal wound. With this power, the Federal government could inflate the currency at will. It could transfer wealth from the populace to itself, facilitate proliferate spending, and create the recessions so commonly used as a pretext for government encroachment on American liberties.

This Thursday, while most Americans will be celebrating with “pomp and parade”, I urge American readers to mark the day with a somber reflection of how much their society has changed, a fond remembrance as to what made America great, and a firm resolve to never abandon the principles of the Declaration.

The best way to honor America, the principles of the Declaration, and the concept of independence (both colonial America’s and yours) is to protect yourself from the United States government through TDV services, like TDV Passports or TDV Offshore. It is what a true patriot would do.

[1] Marbury v. Madison (1803) promoted the theory that the Supreme Court, and thus the federal government, was the arbiter of powers between the federal government and the states. McCulloch v. Maryland (1819) asserted the primacy of the federal government over the states.

[2] Korematsu v. U.S. (1944) condoned the internment of innocent Americans of Japanese ancestry. Wickard v. Filburn (1942) excused unlimited power by the federal government through the Commerce Clause.

Christopher P. Casey, CFA®, CPA is a Managing Director at WindRock Wealth Management (www.windrockwealth.com). Using Austrian economic theory, Mr. Casey advises wealthy individuals on their investment portfolios to maximize their returns and minimize risk in today’s world of significant government intervention. Mr. Casey can be reached at 312-650-9602 or at chris.casey@windrockwealth.com.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2013 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules