Learning From Our Mistakes

History does repeat itself. Is that because if we make a bad decision once, we have the opportunity to correct it at a later date? It would certainly be nice to think that we can correct things, so that horrendous implications can be averted.

I think that the majority of times, we do not recognize the significance of historical events as a predictor of things to come. Even though fractional reserve banking has been around for more than 300 years, most students, or adults for that matter, couldn't give you an accurate definition of what it means. Hence many times, most don't know the true facts, or it is hidden or obscured from plain knowledge. More importantly, I think that most are too absorbed in the daily grind of their own lives to pay attention to the signs all around them. The question that always comes up in their defense, "What difference can I make?"

There is also the constant fear that we are reminded of on a daily basis. The question is - fear of what? Terrorists striking our families? Government agencies restricting our freedom when we ask pertinent questions? Or possibly the labels that others will give us if we dare speak out against the injustices of wasteful and ineffective government?

Where do we draw the line? What will it take before we commit to action? Today our dollar has the same buying power of 4 cents when compared to the same dollar in 1913. That year we had no national debt, today it is above $9 trillion and rapidly growing. Do we still continue to go to work for 60+ hours per week when our dollar can't continue to sustain normal living standards? Nowadays, even two working parents can barely make ends meet, leaving the child rearing to strangers and day care. Imagine the conditions in a one parent home.

Have we come to a such a drugged stupor that we think inflation is normal? Can we not recognize when the prices of gold and oil are hitting record levels, housing market prices are in a steep decline, and a stagnant or falling stock market that there are some serious problems at hand? We are just a resource that is being milked for all our worth. What happens when all our value is used up? China has already surpassed the US as being the dominant economy of the world despite our massive consumption.

Is it going to take another stock market crash similar to 1929 where it lost more than 33% of its value in a month before we awake to the implications? The price of gold has gone up more than 50% in the last 18 months to $902.50 as of Friday from $560 per ounce in October of 2006. Silver has also gone up more than 50% in the same time period from $11.01 per ounce to $17.11 on Friday. Oil has hit again $95 a barrel, closing at $95.69 on Friday. The US dollar index closed at 76.03, less than one and one half points off an all time low against the other major world currencies. Can we not see the signs?

Incidentally, we should be aware of an escape clause that we have. This is the very one that presidential candidate Ron Paul is just hoping he can invoke if elected. The last provision of the Federal Reserve Act of 1913, Sec. 30, states, "The right to amend, alter or repeal this Act is expressly reserved." This language means that Congress can at any time move to abolish the Federal Reserve System, or buy back the stock and make it part of the Treasury Department, or to alter the system as it sees fit. It has never done so.

How long do we wait before we demand this action?

God "will give to each person according to what he has done." To those who by persistence in doing good seek glory, honor and immortality, he will give eternal life. But for those who are self-seeking and who reject the truth and follow evil, there will be wrath and anger. Romans 2:6-8 (NIV)

If you have any comments or questions, please feel free to contact me at the address below.
Email: DeltaInspire@panama-vo.com