Scarecrow Wizard
Deficits Do not Matter, or do they? We ask the Wizard of Oz!
The other night I was attending a seminar on "The Conspiracy for money" and one of the issues discussed were the bases or fiat currency and devaluation of the currency caused by the value of the shrinking U.S. Dollar.
In one titled previous article "Decades of Dollar Debt and Doubts," where the challenges experienced at all levels of the economy related to King Dollar and the large public debt generated beyond any reasonable understanding, were introduced. Due to mounting debts and the resulting decline in the value of the U.S. dollar, with dollar signs many doubts that is related to the ability of the USD on the world reserve currency to be.
Now that we look at the meltdown of the U.S. dollar before our eyes, I was reminded the meltdown of the Wicked Witch of the West in the movie "The Wizard of Oz" and how similar circumstances at the time the story was written, the conditions we are experiencing today.
Your author grew up in Kansas and as a child can relate to this story, especially the first part of the movie where a tornado took a farm with Dorothy in and deposited them in a field in the Land of Oz. And now, a few years later, your author can relate to the rest of the story "(If Paul Harvey used to say).
The book was published in 1900 by Lyman Frank Baum and a presentation about the life, political populism in the U.S., and the gold and silver debate, because it related to the value of the U.S. dollar currencies in the year 1890.
Baum had a deep interest in the gold-silver debate, and fiat currency, because he was rich and heir of serious family money came from the 19th-century oil fields of Pennsylvania.
The title of the book, "The Wonderful Wizard of Oz "(which stands for Oz" ounces ") emphasizes the importance to know how many U.S. dollars were needed for an ounce of gold or one ounce silver buy.
In the early 20th century, it cost $ 35 an ounce USDs to buy gold. Nearly 10 years into the 21st century, an ounce of gold just had a closing price of $ 1.100.
In little more than a century, the purchasing power of the Baum family inheritance was reduced by 30 times due to fiat currency and debasing of the currency.
Due to inflation and the resulting bases, or currency devaluation, which the Baum family could buy today that costs $ 30 USD can buy them at the time of a their ancestors, who wrote: "The Wizard of Oz" could buy for $ 1.
Let baseball and the Yankees baseball team as an analogy … a general ticket purchased for a game today (about $ 25 – $ 30) can be purchased for $ 1 when the Wizard of Oz was written.
Can you do something buy at the ballpark today for $ 1?
As wages rise, the impact of inflation is less obvious, because we tend to get more money to the increased prices or high pay. When inflation and the devaluation of the currency take their greatest toll is more than a generation or two if the purchasing power, and the resulting lifestyle, decreased significantly.
Let us now return to the story to the parallels between then and now to see.
In the real story, The "Emerald City of Oz was a city of gold. It was at MGM Studios, the famous emerald Depression-era movie made in 1939. The Yellow Brick Road is a metaphor for gold. Dorothy's slippers were silver in the book and turned to Ruby in the film.
The Tin Woodman (who had become corroded and had been restored by Dorothy movement, using an oil can … wanted a heart of The Wizard in Emerald City have) stood for the working men of America, coming out in the cold and rain by the forces of capitalism banker.
The Scarecrow (who was freed from the pole he was hanging on … wanted to go to the Emerald City to a brains) was for farmers and recall that he had no brains, because East Coast snobs many farmers were just stupid Hicks, ripe for the picking.
The Cowardly Lion (who was afraid of everything … was encouraged to go to Emerald City courage to get) was a dead ringer for William Jennings Bryan, who made good speeches, but could not challenge the established big boys.
The Wizard was all smoke and mirrors and he shows a composite of the political class that came across as a bunch of charlatans who promised much and delivered little.
While The Wizard of Oz is a story for children and not a cookbook for what ails us today, there are parallels. While things are not what they may at first sight to be the ordinary people, workers, farmers, and the entire middle class, are smarter and nobler than the elites think … Remember the "town hall" meetings in August this year (ie 2009).
Like Dorothy, who is going to stand up to the current Wizard of Oz, political class and elites … and say they are not as smart as they think?
Who is he convince their policies and out-of-control spending at the federal level, is beyond any rational understanding?
Most likely someone so much to the line (ie wealth and wealthy family based in U.S. dollars, such as the Baum family) who will endeavor to seek the downfall of the U.S. Dollar arrest.
Could it be someone like the Oracle of Omaha … with a net worth billions? Or could it be someone like the American businessman of the software company in Washington State or one of his direct reports … each with a net worth billions? Or would one of the co-founders of the world's largest Internet companies in the Bay Area of Northern California … each with a net worth billions? Or would a former governor of a state in a land far away, which is "going rogue."
Like Dorothy, who dreamed of a better place "Somewhere over the rainbow," it will be someone who can create conditions to rebuild the based economy and a stable dollar.
As Steve Forbes like to say, getting more financial education and the resulting increase in financial literacy and empowerment, will open our eyes to alternative strategies to create wealth and this is the key to solving our financial crisis.
I trust this article has given you some insight on the reverse of fiat currency. And using the story of the Wizard of Oz, you can see that if the government officials and elites are left unchecked, will tend to over-spend and decades of debt that will likely lead to a devaluation of the currency and Dollar Concerns cause.
You can learn more about fiat currencies, Dollar King, central banks and home-based businesses can be found by reading updates to take Farrell's blog will be placed in the next few weeks at http://aspenIbiz.blogspot.com .
About the Author
Early in his career, Mike was an engineer with a large aerospace company. For many years, he was with a “marquee” consulting firm where he worked extensively with clients all around the world and became know as an American globalist. Most recently he has been providing technology, business, and management advisory services as a self-employed entrepreneur.
Do you think Jason Biggs would be) an excellent rendition of Ray Bolger (Scarecrow from WIZARD OF OZ?
YEhah.
Wizard Of Oz – Scarecrow Dance (Deleated Scene)
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