England and Scotland are absolutely beautiful. Charming little towns, huge cathedrals a thousand years old, and I am glad we took the tour. But I was shocked at their economic situation, and it is so easy to compare theirs to ours. British gasoline is $9-$10 per gallon, and they drive around in these tiny little cars, many diesel. They live in tiny little houses, and drive on narrow roads that smack of American roads in the 1950’s and earlier. They have a 20% VAT tax, and each citizen pays about a pound ($1,80 US) a year to support the monarchy. They do love that Queen and her billions, though, so that will be a ’keeper,’ even though there are few sour pusses around who would like to get rid of it.
England, after WW II, elected a Labor Government, which before it called itself “Labor,” called itself “Marxist.” It did wonderful things for the UK. It nationalized coal, steel, electricity, gas, railways, canals, road transport and civil aviation! Just imagine! Pure Marxism! All the private industries then belonged to the government. Can you imagine government’s efficiency, taking control over all private industry? Various elections since then have tried to straighten it out, but Margaret Thatcher did the best.
In England, you vote for the party, not the candidate, so the party appoints its leader. Margaret Thatcher sold all the nationalized businesses to private hands, cut taxes, privatized public housing, restricted government spending, and broke the unions. Whoopee! She almost saved England, except that her Conservative Party leaders were feeling so much pressure from their constituents who were recipients of government handouts, that they removed her before she could complete her job.
The British Isles, which are the size of Oregon, and have a population of 60 million, still suffer, in my opinion, but they seem oblivious to it. Labor gets in and tries to turn the place into a Marxist nation, and then the Conservatives get in and try to turn it around, but it is sunk deeply into socialism, and It is doubtful that it will ever become free again. Wonderful place to visit, but no freedom loving person could abide the taxes and government meddling in everything in the U.K.. America is tagging right along behind the U.K. Our liberal politicos are trying for a VAT and universal health care, and they won’t stop till we’re throttled to death, just like those poor souls in the U.K. and most other places in the world. We were once reasonably free…before FDR.
In America, there are no more really rich people, and a million dollars, is the equivalent of $10,000 when people were really rich a hundred and fifty years ago. There was no income tax, or other meddling bureaucracies, and people were free to make it, keep it, and use it to build more factories, do more research, get more patents, and of course hire more people. We invented just about everything worthwhile in the world, thanks to our freedom. We then made it and exported it. Be it the Otis elevator, John Deere plow, television, radio, myriad auto things, electricity, light bulbs, fluorescent lighting, streetcars, subways, airplanes, telephones, or even revolving doors. We invented them, made them, and exported them. No more.
Here in America, we’re far from free. Our factories have closed and have had their machinery shipped overseas, just like the U.K. Our brains have been dulled by public schooling, and our wills defeated by handouts. We have high taxes and infinite bureaucracy, which makes it impossible to start a business for all practical purposes, and businesses are what used to employ the most people. Governments employ the most now. How tragic! In England, they are so brainwashed that they love their ’free health care.’ They’re paying through the nose for their lousy ’free’ health care! When the majority of a population is getting handouts, they will never vote for a candidate who will remove their handouts, and that’s why, even if the Tea Party gains great strength, it may be impossible to ever be really free again. We can hope for semi-freedom at best, but that would still be far better than any other place in the world. I’m too old to learn another language, and besides, I live in a small western town with plenty of water, and 300 days of sunshine a year. I’m happy!
P.S. the Comex is trying to cut the demand for silver to aid the shorts, and have made it very expensive to get a silver futures contract. As a result, thousand have dumped their silver futures contracts, which has flooded the market with paper silver. Not real silver, because the demand is still unbelievably strong. A silver Eagle ordered to day, will be delivered June 23rd, so strong is the demand. The 20% correction is not from a lesser demand, but from the Comex actions, and in my opinion, it will be very brief, and prices will go right back up and higher. I have no crystal ball, but I bought yesterday, and wouldn’t dream of selling!