Capitalism Magazine – “Francisco’s Money Speech” from Ayn Rand’s Atlas Shrugged

We all tend to have unfinished or uninitiated activities or tasks or things that we would like to get around to doing some day.  If we had the luxury of all the time in the world, we could continually keep from doing today what we would hope could be put off until tomorrow.  Unfortunately, we know all too well that none of us is promised tomorrow.  During the year 2010, one particular as yet to be completed task on my list was beginning to gnaw at me.  I had yet to read Ayn Rand’s Atlas Shrugged.

Someone carrying not yet completed desired to-do tasks around in their mind was popularized as a person having a”Bucket List”.  This came about several years ago after actors Morgan Freeman and Jack Nicholson teamed up on the big screen to make a movie about two aging men and the stories behind them acting out some of the activities on their list of things to do.

As a liberty minded individualist who first learned about Atlas Shrugged years ago from my good friend Gerry back when I was just starting high school,  I grew into adulthood simply thinking that I did not have the time to read it.  How silly of me.

Once I finally got a copy and started reading it just 2 years ago, what I once thought was going to be a labored read turned into a labor of love with the book. The labor was simply the time needed to read it.  Once started, I found I could not put the book down.  It was both a philosophical work and an adventure story all rolled into one.  Like most other things we procrastinate from doing, I found and made time to read it once I realized I enjoyed it.  How silly of me to put it off in favor of what I thought was my busy schedule.

My reading sessions turned into an escape of sorts.  I completed it in about 2-3 weeks, taking about an hour or so daily.  Looking back at the time, Atlas Shrugged served as a balm of sorts for what ailed me insofar as my complete sullied attitude and morale relating to the bad economy, our federal debt, President Obama’s and Harry Reid’s and Nancy Pelosi’s individual health care mandate in the Affordable Healthcare Act, the wars and our country’s overall malaise.  Reading this book helped me see that these problems that are in part based on collectivism and statism are not new.  Ayn Rand wrote of them in the 1950’s.  It helped me refocus my mind as to how I might better cope with what seems the the degradation of our free society.  In many respects, it had me rethink about dedicating some time to writing this blog.

One of my favorite parts of the book was Francisco’s money speech.  Not coincidentally, other readers must also have enjoyed it, as it was very easy to find numerous references to it with a simple google search.  I have provided the link to it below so that it might serve as a primer of sorts for you.  After reading it, maybe reading Atlas Shrugged will be something that you will add to your bucket list.     This topic of sound money is very appropriate for our times.  Many mainstream economists are proclaiming that the recession is ending and that our economy is headed in the right direction. Those of us who look at the economy through the lens of the Austrian school of thought think otherwise.  The threat of a third round of quantitative easing looms and with it, our beloved freedoms take even more of a beating.  Candidate Ron Paul holds the issue of sound monetary policy as a main component of his platform for restoring America.

Please take a moment and read Ayn Rand’s views on money, as told by one of her amazing characters, Francisco D’Anconia.  And as usual, thanks for reading my thoughts here at Wake Up America!

Capitalism Magazine – “Francisco’s Money Speech”

Bernanke and Fed Reserve Playing Geppetto

Ben Bernanke and the U.S. Federal Reserve Bank can’t help but try and bring this fabled (artificially robust) economy back to life after it keeps trying to succumb to the forces of nature.  Trillions and trillions of dollars of bad debt are threatening to enact its logical and required hurt on the economy(a crash of some sort is needed to cleanse the bad debt), but the central bankers and masters of fiat currency refuse to acknowledge the laws at play.  Instead, they believe they can be the puppet masters and keep pumping life into this terribly sickened patient with cheaper and cheaper money hoping they can triumph over the almost obvious and inevitable fate that awaits us all.

What is the point of keeping account of it all at this point?  Why even have money if it is going to be so loosely free to flow around the world without any accountability to its inherent worth on markets?

Jeffrey Tucker in his article about this coordinated central bank fiasco quotes economist Robert Murphy,

“He further states what everyone knows but no one is willing to say: “The current round of interventions will not solve the problem. Down the road — probably much sooner rather than later — the central banks of the world will engage in some further extraordinary measures, again lest the whole world fall apart. Even so, printing money doesn’t fix the underlying problems. No matter what they do, eventually the whole financial world will fall apart.” “

http://dailyreckoning.com/leaping-toward-the-keynesian-dream/

By Jeffrey Tucker
for The Daily Reckoning