"Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule — and both commonly succeed, and are right. The United States has never developed an aristocracy really disinterested or an intelligentsia really intelligent. Its history is simply a record of vacillations between two gangs of frauds."
H.L. Mencken, Minority Report, 1956
"A body of men, holding themselves accountable to nobody, ought not to be trusted by anybody."
Thomas Paine, The Rights of Man, March 1791
“War is the parent of armies; from these proceed debts and taxes; and armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few. In war, too, the discretionary power of the Executive is extended; its influence in dealing out offices, honors, and emoluments is multiplied; and all the means of seducing the minds, are added to those of subduing the force, of the people.
The same malignant aspect in republicanism may be traced in the inequality of fortunes, and the opportunities of fraud, growing out of a state of war, and in the degeneracy of manners and of morals engendered by both. No nation could preserve its freedom in the midst of continual warfare.”
James Madison, Political Observations, 20 April 1795
“If the very rich are naturally so much more capable than the rest of us, why must they be provided with so many artificial privileges under the law, so many bailouts, subsidies and other special considerations - at our expense?”
Michael Parenti, Blackshirts and Reds, 1997
“If you only notice human proceedings, you may observe that all who attain great power and riches, make use of either force or fraud; and what they have acquired either by deceit or violence, in order to conceal the disgraceful methods of attainment, they endeavor to sanctify with the false title of honest gains."
Niccolò Machiavelli, The Prince, 1532
“History is a thin veil of cruel and shameful acts in which a few drops of purity sparkle at long intervals.”
Simone Weil, The Need for Roots, 1949
When Stalin held Russia in his iron grip, people used to see acts of corruption and injustice and say, 'If only Stalin knew about this. He would correct this and punish the guilty.'
And as we now know, as one might have suspected then, this was foolishness. Because Stalin and his cronies knew all of it, and were benefiting from it. And so it continued.
And today, as most days, I hear 'if only the President knew what was being done, that is being hidden from him by the people around him, he would change it.'
If only the top management of XYZ bank knew what their traders were doing, putting the firms at great risk for quick profits, they would soon put a stop to it.
You can never go wrong by overestimating the gullibility of those who need to believe, no matter the nature of their underlying beliefs.
They have become personally invested in the myth, and then blinded themselves willingly.
Freedom is founded on the three principles of a free society: transparency, equality, and accountability.
And so our freedom is foundering, on the whims of an unaccountable elite.
Stocks wobbled around. It was a strong overnight with the usual faltering on the real market volumes.
Uncle Buck took back the 98 handle.
VIX laid back down into its comfortable complacency.
Gold and silver were under a bit of pressure. Silver finished slightly positive, gold slightly negative.
And the band played on.
Have a pleasant evening.