“After the ship has sunk, everyone knows how it could have been saved.”

In episode 60, Phil interviewed the silver guru David Morgan to discuss the recent momentum and long-term upside in the silver market.  Phil and John cover Brexit and some of the action in the precious metals market since the June 23rd vote.  If you like what we’re doing, then please SHARE us with a friend!

Jason Burack of Wall Street for Main Street will be featured in the next post, so be on the lookout!

The Economics of Welfare

Here’s an excerpt from my interview with Bernardo Bieler Romero in April.  It’s an excellent lesson to teach us what happens when socialism is carried out to its logical conclusion.  Click the photo above to see the interview.

Phil: Back to gold.  It’s a shame Venezuela is going to sell its gold at $1,200 an ounce.  Great Britain sold its gold for $250 an ounce, and I suspect they did it in order to pay for the promises made to their people.  I can assure that the gold price is going to rise and Venezuela will no longer have any gold.  What do you think?

Bernardo: Just as they are going into debt with China, Venezuela is also going to sell its gold to pay for populist or social programs.  The government tells the people that they have a right to them, but the message that the government is sending is that the Venezuelan people have rights but no obligationsThis government has taught Venezuelans that they have something to claim but nothing to offer.  People think they have the right to be fed but no obligation to work.  In fact, the worst way to earn money in Venezuela right now is by working for it.  For example, look at my case.  I am a civil engineer working in a consulting company.  If I worked for a engineer’s salary in Venezuela, it would not provide me with the purchasing power I need to buy the things I need for my family.  I would need a second job.  The government has fixed prices on items that everyone needs, so manufacturers lose money when they sell these items.  The smarter thing for me to would be to buy things for a fixed price and then find a way to sell them for a 400-500% markup on the black market.

The Free State Project


As the presidential race heats up, the focus of the country will eventually be on the Iowa caucus and New Hampshire primary.  The latter state happens to be home to a growing movement known as the Free State Project (FSP).  This little known but well organized movement is gaining traction as it closes in its goal of getting 20,000 liberty minded individuals to move to the “Live Free or Die” state.

The movement is attracting people from all walks of life, but they all are working “toward the creation of a society in which the maximum role of government is the protection of life, liberty, and property.”  Naturally, most of the people in this movement believe in the second amendment, sound money and a society based on rugged individualism and self-reliance.  These values are put on full display each year at the annual liberty camping event called the Porcupine Freedom Festival (or PorcFest for short),

So why is this happening in New Hampshire or all places?  According to the FSP website, the state is hospitable to libertarians for several unique reasons.  First, it is consistently among the most livable states.  Secondly, it boasts plenty of recreational resources for outdoor activities. Third is the the fact the New Hampshire possesses the largest state legislature in the US, allowing the highest ratio of representation and easy access to politics.  Finally, and most importantly, the state offers an existing culture of liberty that enables citizens to fight for freedom.  Examples include a low regulation mindset and no state sales or income tax.

There’s no doubt that the FSP still has its work cut for it in the years ahead, but no one should underestimate the power that a growing minority could have on this state.  Pay special attention to the outcome of the New Hampshire primary, because it could be a harbinger of the future success of the FSP.