[This article was adapted from a talk delivered at the 2022 Supporters Summit in Phoenix, Arizona.]

Media reports claim this debt prevents economic recovery. Chuck Schumer would erase it with the flick of a pen. Elizabeth Warren would remove it to free students’ ability to buy a house and form a family. Janet Yellen opines paying off student loan debt (SLD) will free up venture capital.

In his book The Case against the Fed, Murray Rothbard writes a section on deposit insurance, which was instituted under FDR’s New Deal in 1933 at $2,500 per account and over time raised, reaching $250,000 during the banking crisis of 2008. As Rothbard explains, the term insurance “properly applies to risks of future calamity that are not readily subject to the control of the individual beneficiary, and where the incidence can be predicted accurately in advance.”

“The Earth speaks to us through the elements of nature. In every natural thing, we can find a hidden, powerful message.”
—Ralph Waldo Emerson

Every natural element with which the earth has been endowed has a usefulness—a purpose. If we listen to gold, its message is loud and clear—gold is money. To serve as natural money is gold’s highest purpose.

I was taught in childhood that Democracy is by the people, for the people, and of the people, maybe it was a goof by my teachers because what I have seen is Democracy has now become Buy the people, for the selective people, and off the people. Why do we like Democracy, what’s so idiosyncratic about this system that distinguishes it from other forms of the political system? Democracy gives us freedom, the system gives us rights, and it gives hope for a liberal society. Democracy is an antonym of a Totalitarian system, maybe.