by Dr Jerome, TF Metals Report:
The other night, I could not sleep, and as usual I went downstairs, stoked up the fire, and began to let my mind wander, digging out my subconscious concerns so I could face them. And as usual, my 22 year old daughter, who is a night owl, wandered downstairs and said, “Hi Dad. Can’t sleep? What’s on your mind?” She plopped down on the couch next to me and we started talking.
Of course, one of the things on my mind is the future, and how we will prosper survive as this economy slides deeper into the Keynesian-socialist bog of debt-serfdom. At one point, my socialist daughter asked me a question that I couldn’t answer: “Why can’t we invent things to save labor, replace workers and make it so people don’t have to work?” Of course, she wants free college, and she wants to see her friends prosper, and she wants her dream job and country home. She can see it happening in the current system through the power of technology.
My gut knew that what the US is doing economically cannot work long-term, but at 2am, I was unable to articulate an answer to her question. Why can’t technology save us? Why won’t socialism work?
I suppose the short answer is: human nature. But at what point do things break down. And what do they break down into? Well, my old career at troubleshooting electrical systems established some neural pathways that like to start at the beginning. 1+1=2, 2+1=3, etc. And later that day, in the shower, I started at the beginning, pondering how economies function properly and the role of precious metals. There is no need for me to mention that she is not the only one wondering about it. So let’s take a look and what little I know.
Why can’t we have a society where people do not have to work as much?
A long, long time ago, in a river valley far, far away, (perhaps where I living now, picking up 1000 year old pottery shards when I walk the dog), a man and woman, Al and Lynn, wandered in one day and began living their lives…
Life was very hard. But they learned that each had a talent. Al was good at building shelters and Lynn figured out how to make warm clothing from animal skins.
Soon, another couple, Bob and Shanna, moved to the valley and set up camp nearby. Bob had a talent for cultivating plants, especially ones that are good to eat. And Shanna had a talent for herbs, spicing food and curing illness.
Being bored, the two couples became friends. Al was appalled at the crappy little lean-to their new friends lived in, but he were in awe of how much food they had stored for the winter. So they made a deal, and the first economy was born.
Al built a new house for Bob & Shanna, in return for a winter’s worth of food that they could easily spare from their bounty. That winter a 3rd couple wandered into the valley. Jim was a good hunter and Audrey knew how to find clay near streambanks and make pottery for storing food and wine. The other two families immediately saw advantages to their new friends and welcomed them into their community and economy.
Another set of newcomers had a talent for animal husbandry. A fifth family arrived who were very clever at inventing tools that made the work of everyone easier.
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