I wonder what world the author lives in that he believes that the inflation rate is seventeen percent in the United States. Maybe he’s having a flashback to the Jimmy Carter years?
His criticism of the war is just the tip of his iceberg of stupidity. Inflation is 17%? LOL. I'd say his only real point in writing this article was to say buy gold! -- preferably his gold.
Hommel isn't bright enough to be either a shill or an economist.
The author of this travesty of an essay would never be a shill for FedGov because he didn’t get the good grades in the right classes in high school or college.
For starters, the government has set up a private corporation, and given it a monopoly on counterfeiting private wealth. The very act of “borrowing money into circulation”, according to none other than Alan Greenspan in his 1966 essay, Gold and Economic Freedom, is the key aspect of a long term, slow motion, conversion of private wealth to the benefit of government. In fact Greenspan said it was “confiscation through inflation.”
Next, I would be happy to support a government that did not exempt itself from its own rules. When massive pollution is discovered at a government agency, nobody goes to jail, nobody gets fired. If the environmental damage rises to the level where it cannot be swept under the carpet, the GAO will issue a report with a title like “Cleanup Progressing, but Challenges Remain”.
I would be happy to support a government that meticulously respected my right to protect my own privacy, including my financial privacy, as much is it protects its own records, a government that put put its own agents in jail for telling lies to citizens, just as quickly as it put Martha Stewart in jail for telling lies about her stock trades.
I would be happy to support a government that was just as happy to grant me a deduction for my capital losses as it is to tax me on capital gains. There are some people who cannot live long enough to work off their short term capital loss carry-forward at the generous $3,000 per year limit.
Speaking of taxing gains, I would be happy to support a government that stops taxing me on numerical gains in dollars of long-term assets that have risen in price because of how much the government has inflated its currency. Alan Greenspan was right to be worried about confiscation via inflation coupled with the graduated tax on incomes.
In short, sorry government, you’ll have to improve our relationship substantially before I’ll give you a single penny more than I am legally obligated to.