Macro Analytics 10-23-12 CONSTITUTIONALRIGHTS - John Rubino

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Fiat Currency and the Emerging Police State “It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments. Ideologically, it belongs in the same class with political constitutions and bills of rights.” The Theory of Money and Credit (1912), Austrian economist Ludwig von Mises . Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Fiat Currency and the Emerging Police State Our transition from more-or-less free country to police state is accelerating. 1. The NSA’s Utah data mining facility, 2. Ever-tighter restrictions on offshore accounts, 3. The Internet “kill switch”, 4. The Patriot Act’s many assaults on the Bill of Rights, 5. The militarization of local police, 6. The spread of drones for domestic surveillance … each has a role in the high-tech updating of a very old idea: that the state is paramount and the individual a slave to public order and national power. QUESTION: Why is this happening now, rather than in 1950 or 2050? ANSWER: We’re reaping the whirlwind that always accompanies fiat currency. We created a central bank in 1913 and freed it from the constraint of gold in 1971. Give the government or the big banks the power to create money out of thin air and you eventually get a dictatorship. “Eventually” just happens to be now. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Fiat Currency and the Emerging Police State Now that we’ve created the infrastructure, all that remains is for some desperate/corrupt future leader to flip the switch. From that moment on, every communication in and out of the US will be captured, logged and mined, and each citizen will have a growing file that details their social, professional and financial activities. The state will set about silencing all emerging threats through intimidation, financial pressure (our hyper-complex tax code will be weaponized and turned on anyone who speaks out), and, when all else fails, the designation of dissenters as terrorists and their imprisonment without trial. All the tools are there, just waiting to be used. In this scenario, social media will be useless as a counterweight to Big Brother. When every communication is monitored, an attempt to organize a protest via Facebook will just create a list of people to be rounded up. . Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Fiat Currency and the Emerging Police State Why Sound money is a necessary protection of civil liberties 1. It reins in the growth of government. • When a government prints money without the restraint of competing currencies — even if the restraining “competition” is a gold standard — runaway bureaucracy results. • Wars are financed; indeed, it is difficult to imagine the extended horrors of World War II without governments’ monopoly on currency. • A white-hot printing press can finance the soaring numbers of prisons and law enforcement officers required to impose a police state. 2. Floods of currency can prop up unpopular policies like Obamacare or the War on Drugs. • That is why government holds onto its monopoly with a death grip. • “The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.” Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Fiat Currency and the Emerging Police State Why Sound money is a necessary protection of civil liberties … continued 3. Permits government to monitor virtually all transactions through the financial institutions with whom it maintains an intimate partnership. • Total surveillance is a prerequisite to total control, which is what the government wants to establish as quickly as possible. For example, prior to establishing the Suspicious Activity Report (SAR) in 1996 — a form that financial institutions submit to the U.S. Treasury — banks were required to automatically report any transaction over $10,000. Now any activity deemed “suspicious” is vulnerable. • The monopoly facilitates a vicious attack on privacy and has become a main building block of the American surveillance state. As libertarian Mark Hubbard stated, “Civilization is a movement toward privacy, a police state the opposite, and tax legislation has become the legislation of our new Big Brother states.” Much of the tracking is a pure money grab, but it is also an attempt to ferret out and punish “unacceptable” behavior, like dealing in drugs or politically dissenting. Indeed, it is criminally naive to believe the government will not use these massive and valuable data to target its critics. Thus, people can be discouraged from speaking out. Controlling the information, however, means controlling the currency. Otherwise, anyone could mint gold coins in the middle of the night and release them covertly into the wild. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Fiat Currency and the Emerging Police State Why Sound money is a necessary protection of civil liberties 1. It reins in the growth of government. • When a government prints money without the restraint of competing currencies — even if the restraining “competition” is a gold standard — runaway bureaucracy results. • Wars are financed; indeed, it is difficult to imagine the extended horrors of World War II without governments’ monopoly on currency. • A white-hot printing press can finance the soaring numbers of prisons and law enforcement officers required to impose a police state. 2. Floods of currency can prop up unpopular policies like Obamacare or the War on Drugs. • That is why government holds onto its monopoly with a death grip. • “The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.” Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Fiat Currency and the Emerging Police State Why Sound money is a necessary protection of civil liberties … continued 3. Permits government to monitor virtually all transactions through the financial institutions with whom it maintains an intimate partnership. • Total surveillance is a prerequisite to total control, which is what the government wants to establish as quickly as possible. For example, prior to establishing the Suspicious Activity Report (SAR) in 1996 — a form that financial institutions submit to the U.S. Treasury — banks were required to automatically report any transaction over $10,000. Now any activity deemed “suspicious” is vulnerable. • The monopoly facilitates a vicious attack on privacy and has become a main building block of the American surveillance state. As libertarian Mark Hubbard stated, “Civilization is a movement toward privacy, a police state the opposite, and tax legislation has become the legislation of our new Big Brother states.” Much of the tracking is a pure money grab, but it is also an attempt to ferret out and punish “unacceptable” behavior, like dealing in drugs or politically dissenting. Indeed, it is criminally naive to believe the government will not use these massive and valuable data to target its critics. Thus, people can be discouraged from speaking out. Controlling the information, however, means controlling the currency. Otherwise, anyone could mint gold coins in the middle of the night and release them covertly into the wild. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Macro Analytics October 23rd, 2012 Unsound Money Jeopardizes Constitutional Rights Can Dystopia be avoided? Wendy McElroy - “End the state money monopoly and let other currencies circulate” “ Yet the best solution to the harms caused by fiat is often dismissed even by staunch free market advocates; namely, allow the private issuance of money that freely competes with fiat as currency. This would involve removing all prohibitions, other than fraud, abandoning monetary controls such as legal tender laws and all reporting requirements. In turn, this might well eliminate the Federal Reserve, although people would be free to accept whatever money they wished. The currency monopoly is vital to both the rise of a police state and the targeting of individual civil liberties. In arguing for a free market in currencies, it is important to claim the moral high ground by stating and restating what should be obvious: Civil liberties require sound money. And nothing ensures the quality of a commodity as surely as competition. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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DISCLOSURE STATEMENT ANDTERMS OF USE THE CONTENT OF THIS SLIDE PRESENTATION AND ITS ACCOMPANYING RECORDED AUDIO DISCUSSION ARE INTENDED FOR EDUCATIONAL PURPOSES ONLY. This slide presentation and its accompanying recorded audio discussion are not a solicitation to trade or invest, and any analysis is the opinion of the author and is not to be used or relied upon as investment advice. Trading and investing can involve substantial risk of loss. Past performance is no guarantee of future returns/results. Commentary is only the opinions of the authors and should not to be used for investment decisions. You must carefully examine the risks associated with investing of any sort and whether investment programs are suitable for you. You should never invest or consider investments without a complete set of disclosure documents, and should consider the risks prior to investing. This slide presentation and its accompanying recorded audio discussion are not in any way a substitution for disclosure. Suitability of investing decisions rests solely with the investor. Your acknowledgement of this Disclosure and Term of Use Statement is a condition of access to it. Furthermore, any investments you may make are your sole responsibility. THERE IS RISK OF LOSS IN TRADING AND INVESTING OF ANY KIND. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics

Macro Analytics 10-23-12 CONSTITUTIONALRIGHTS - John Rubino

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