The State of the Union: An Annual Reminder of Inevitable Default

“The political equivalent of Crystal Pepsi, Donald Trump and the Republican Party has given up its longstanding façade of budgetary restraint.

Last night’s State of the Union was particularly noteworthy for its showmanship. Scholarships were given away, medals were awarded, families reunited. At a time when national politics is bad theater, President Trump is clearly its most gifted star.

What doesn’t sell? Fiscal responsibility.

Of course, some people do care, particularly those who understand the real costs of runaway spending. Unfortunately, politics isn’t about the economic literacy of the few, but the prevailing ideology of the masses. As Jeff Deist noted in 2016, the implicit ideology of the American population is much closer to Bernie Sanders than it is to Ludwig von Mises. As such, it should be no surprise that the policies of the country align more closely with the “deficits don’t mattervision of Modern Monetary Theorists than the sober analysis of Austrians economists.

Just as we can arm ourselves to protect ourselves against inept law enforcementwe can safeguard our wealth outside of the American financial system to protect ourselves against inept fiscal management. Be it gold, silver, bitcoin, or whatever, the future may very well belong to those who refuse to leave their destiny in the hands of politicians, bureaucrats, and central bankers.”


Aletheia (truth in the New Testament) means knowing what is going on around you. What is going on around us? –All the politicians including the president are spending and spending and spending. Aletheia causes confrontation. What is the confrontation here?: making more people poor and killing and destroying more of the poor, all an abomination to God.  Fake money and credit are unequal weights and measures–abominations to God.
Fake euphoria—great speech. But let’s come down to reality of this age [what you can see and hear] and the spiritual [Bible—if you can see and hear then unreal; and if unseen then real-spiritual]: spend, spend and spend with low interest rates meaning that more people are becoming poor and more of the poor are starving and dying. The authority for this (regarding the poor):  Nehemiah 5; Isaiah 1:21 -23; (will not cite more verses) —- an abomination to God; and the Cantillon effects.  
The unreal and seen: uplifting speech (touches the emotions of supporters). 
The real and unseen: Euphoria funded with fake money and credit, which is an abomination to God. 
If you know the truth the truth will set you free. Materialistic Americans do not want to know the truth.
Richard Duke


How To Acquire Gold–J. Richard Duke


Asset Protection Planning-Its New Meaning; And The Causes Of The 2008 International Credit Crisis–by Richard Duke


Asset diversification before the crash of the dollar-Richard Duke (Video)


Austrian Economics & Asset Protection Planning–Richard Duke (Video)


Asset Protection Planning-Its New Meaning; And The Causes Of The 2008 International Credit Crisis–by Richard Duke


Avoiding Loss of What You are Saving; Due Diligence on Domestic and Foreign Investment Advisors and Systems. How an Asset Protection Lawyer Protects Clients from Theft and Insolvency–The Florida Bar–J. Richard Duke


Chapter: “Uses of Offshore Life Insurance in International Estate Planning”-By J. Richard Duke


Chapter: “Tax Compliance and Reporting for Foreign Trusts”–By J. Richard Duke


Book: Asset Protection Strategies: Planning with Domestic and Offshore Entities, Volume I, Second Edition, American Bar Association


Nehemiah: The king and his nobles (cronies) extracting from the people through debased silver


Micah 6: wicked balances and bag of deceitful weights


Debasement and Crony Capitalism; Nothing is New Under the Sun


Counterfeiting Money Is a Crime — Whether Done by the Fed or A Private Individual


James, chapter 5, verses 1 to 6:

Now listen, you rich people, weep and wail because of the misery that is coming on you. Your wealth has rotted, and moths have eaten your clothes. Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. Look! The wages you failed to pay the workers who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord Almighty. You have lived on earth in luxury and self-indulgence. You have fattened yourselves in the day of slaughterYou have condemned and murdered the innocent one, who was not opposing you.


A general, but serious, reason to read this book— The Skyscraper Curse: And How Austrian Economics Predicted Every Major Economic Crisis of The Last Century — is to avoid being one of the millions who will be duped when the next crash (bust) occurs. Millions were and continue to be duped as to the reason for the boom leading up to 2007 and 2008 and why the bust occurred in 2008 relating to real estate.

Thornton begins with an important discussion of money creation and Richard Cantillon, writing: “… Richard Cantillon (1680s-1734?) [was] the first economic theorist and proto-Austrian economist …[he] showed how the interest rate and the money supply can create changes and distortions in the economy, a phenomenon now referred to as “Cantillon effects.”

Review by Richard Duke on the Mises Institute website of the book: The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century by Dr. Mark Thornton


Money, Inflation, and Business Cycles: The Cantillon Effect and the Economy-Book Review, David Gordon