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Francisco's Money Speech (excerpt)

Posted by richrobinson 10 years ago to The Gulch: General
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I have been listening to Atlas Shrugged during my commute to and from work. I just listened to Francisco's money speech and he was explaining how looters can cause a society to vanish into ruin. He then asks if that day is coming. This gave me chills. I think this explains our current situation.

"Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed. Money is so noble a medium that it does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot.

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  • Posted by johnpe1 10 years ago in reply to this comment.
    when all you can hear is the lepers' bells of
    approaching looters/moochers? -- j

    p.s. is that what this ringing is, in my ears?

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  • Posted by johnpe1 10 years ago in reply to this comment.
    remember that she spent 12 years writing AS, so
    the heavy stuff like this might have come earlier
    and sought its place in the final edit. . whatta woman! -- j

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  • Posted by johnpe1 10 years ago in reply to this comment.
    that one, and "show me the woman he sleeps with"
    are at the top, for me. -- j

    p.s. and "his time is up."

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  • Posted by johnpe1 10 years ago in reply to this comment.
    they are lucky that they weren't fired on, doing
    that crap in the middle of the night. . sickening. -- j

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  • Posted by frodo_b 10 years ago in reply to this comment.
    >I do know this, it is easier for a camel to go through the eye of an needle than for a rich man to enter the kingdom of heaven.

    Can you explain how you reconcile this with the idea that a rich man is rich because he has a lot of value to trade for?
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  • Posted by frodo_b 10 years ago in reply to this comment.
    Was she a liberal? I bet she was a liberal. Capitalism requires a moral underpinning, a belief in right and wrong, or it devolves into one form of tyranny or another.

    I find it interesting that the people who are against capitalism are the same people who advocate moral relativism. They support the very mindset that allows mercantilists and other looters to thrive.
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  • Posted by frodo_b 10 years ago in reply to this comment.
    It’s impossible for money to do anything. It can’t prevent the outcome anymore than it can facilitate it. But it can act as the canary in the coal mine. If money flows into the hands of the looters then that’s as good of an indication of the death of a society as a little yellow bird on the bottom of a cage with its feet in the air.

    EDIT: But what does happen when money starts flowing into the hands of the looters is that the incentive to create wealth evaporates and the current wealth of the society is bled dry.
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  • Posted by waytodude 10 years ago in reply to this comment.
    I too found my gulch and becoming more independent by the day. My land is paid for I'm along way from towns. Now making ready to fend off the looters when they come.
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  • Posted by frodo_b 10 years ago in reply to this comment.
    >Trade, charity, fraud, or force are the only four ways that humans can interact economically.

    That is brilliantly succinct! I'm going to start using it.
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  • Posted by Stormi 10 years ago in reply to this comment.
    They came so close, when Pelosi was Speaker, to seizing 401Ks. Tom Harkin (D-IIowa) heard from witnesses promoting the plan. the Guaranteed Retirement Account, authored by Theresa Guilarducci. A committee was in place to start the process. it would seize all 401K and retirement accounts, then use the confiscated money to make sure everyone got a pension. (redistribution). That plan went on to include talk of IRAs. Lately, Obama has asked for information on how much people have in their savings accounts as well. Of course, even offshore accounts are being checked. The overextended banks who took all that Federal Reserve money are all too happy to supply the information. My own banker admitted they did not need our investment money, as the Feds gave them all they needed, but now they are beholden to them. Now, Chris Christie is talking about taking away SS from those who paid in, but do not need it, by whose estimation he has not said.Years of responsible savings has now become something the looters see as theirs.
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  • Posted by gcarl615 10 years ago in reply to this comment.
    Since the guvmint is working slowly, bit by bit to block the exits, then we need to be as stealthy. Small withdrawals, small but frequent cash purchases at different places to slowly accumulate the commodities you believe are required to go Galt. Have a vault or safe to hide cash or PM;s. Savings account pay so little why bother. Live simply and use your mind for yourself or a close group of trusted associates. Perhaps use Alpha Strategy as a guide. Hide in plain sight. Get the Heck out of the cities and find a small remote town to live in.. I digress, sorry...Preaching to the choir,,,
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  • Posted by Sunjock13 10 years ago
    Where are the FEDS to investigate... still in Ferguson??? Note to self: "Don't expect Gov't to prioritize with any modicum of logic" Our money, Our loss!
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  • Posted by xthinker88 10 years ago
    Awesome speech. I've tried to sum up this type of argument myself. Interested in feedback:

    Trade, charity, fraud, or force are the only four ways that humans can interact economically. Or for that matter, in any realm. Either you trade value for value, or you provide value where there is none out of your benevolence, or somebody tricks you out of your value (including false charity where your benevolence is preyed upon by those who would make you feel guilty), or your value is stolen from you. Of course the only moral way to receive value from another is through trade - by giving value in return. Receiving charity is at best morally neutral and, if it is a lifestyle, it is immoral. And of course, receiving value through fraud or force is openly immoral - even when you vote for somebody else to carry out the fraud or force for you.
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  • Posted by $ jdg 10 years ago
    This makes good sense and I agree with it -- until the last sentence. I fail to see how money does anything to prevent the outcome described. It *does* flow into the hands of the looters, much as we wish it wouldn't.
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  • Posted by $ jlc 10 years ago
    "– when you see that in order to produce, you need to obtain permission from men who produce nothing – "

    This is the most telling phrase to me. I recall that the USA was #4 rank in Economic Freedom, 21 years ago when we started Schuyler House. It is now #12.

    There are a lot more permissions from non-producers that need to be acquired now before you can 'do' anything. (The EPA figures large in this comment.)

    Jan
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  • Posted by richrobinson 10 years ago in reply to this comment.
    I have read Stormi that the government has a plan to seize all retirement funds. If deemed necessary the Feds will take all money in 401k and IRA accounts and convert them to Government Retirement plans. Sounded crazy the first time I heard it...
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