Saturday, February 12, 2011

Richard Maybury: The Good, the Bad, and the Ugly

I have contemplated writing this series since last week, when I read the interview of Mr. Maybury by Anthony Wile of The Daily Bell. I have decided to jump in with both feet.

The original interview can be found here:

My comments as posted in the thread follow:

Posted by Bionic Mosquito on 2/6/2011 1:18:44 AM

This is truly a wonderful interview. I am certain to have further thoughts after reading it again later.

"I don't see any long-term solution for America or any of the rest of the world until they start accepting the fact that government has to be ethical, just like individuals."

This captures it in a nutshell. There is no point to look to the Constitution, the Tea Party, or any other possibility until this idea is embraced. Many hold theft in their hearts, and find it acceptable to utilize theft through government agents as a means to an end...or cannot see the immorality of government agents acting in manners that would not be accepted by mere civilians.

I made the following comment a week or two ago here, it seems equally appropriate now (slightly modified):


1) Inviolate property rights,

2) Recognition that coercion is not a proper means to order society, and

3) No one, regardless of employer (e.g. government employee), is subject to laws different than the rest,

The Constitution is of little comfort as a document, although certainly better than others of which I am aware (especially when taken with The Declaration of Independence).

After further reviewing the interview in detail, I posted a second comment:

Posted by Bionic Mosquito on 2/6/2011 11:37:47 AM

I offer further thoughts, and thank many DB feedbackers for bringing some of these to the forefront:

1) As mentioned before, ethics is the key. As Maybury suggests "Thou shalt not steal." Private property must be inviolate from government taking just as much as from private.

2) I appreciate his comments about the previous role of competing currencies in Europe. Also, I agree that we will see a break-up in Europe and elsewhere into much smaller political and social units. We will not get one-world government. The turmoil we are now enduring will ensure this.

3) He also suggests eventually we will insist on and utilize a commodity backed currency. This is certainly so, it must happen if civilization is to survive.

4) His point on real estate seems to be it is better than the dollar. This may be true, and certainly will be to the extent we are headed to a crack-up boom.

5) His suggestion for defense stocks is indefensible. That he decries the connection of patriotism being hooked to war, yet makes this investment recommendation, is disconcerting. Others have made this point quite well.

6) He specifically points to America being a special place between 1945 and 2001. Others would refer to this as the height of Dreamtime. I certainly do.

Now, why do I describe this interview as “The Good, the Bad, and the Ugly”?

The Good: Overall, Mr. Maybury speaks quite well for the role of ethics if a just society is to be preserved. Also he is quite clear about his views of fiat money.

The Bad: He views that America was a really special place in the period obetween1945 to 9/11. This view seems far-fetched, as it more appropriately seemed to be the time of maximum dreamtime.

The Ugly: He advocates investing in defense stocks. Given the use of the weapons produced by these companies – for offense, not defense – this is a most immoral position. He explains his views further here:

I will, over the next week or so, write three further columns on this, one each for good, bad, and ugly.

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