Hi Cockerel!

I think what is going on today is a breakdown in morality on a national scale. You cant cheat an honest man, this is true. But the honest man is in the minority today. People that demand entitlements and think they can get more out of the system than they contribute - is that honesty? Well about half the Americans pay no taxes, and many of those people are on welfare, food stamps, etc. And the governments that get elected are largely pandering to the lazy and entitled in order to gain votes - is that honesty?

To me honesty and morality come down to doing what is right for all, not just what is in your own self interest. And as such, that means that people must have the courage to make difficult choices for the good of the country. I see none of that.

Looking at all of the issues involved in the banking crisis and the bailouts, what was lacking was any kind of morality, honesty, or courage. The easy decisions were made that allowed a few to profit at the expense of the majority. And those who were empowered to make decisions were elected or appointed at the whim of other lazy and dishonest people that have been accepting handouts and entitlements they do not earn or deserve.

What chance does an honest man have in this corrupt system? How is it that those who work and create wealth have become slaves to the stupid, the lazy, and the incompetent? I know there will always be a minority of people that are in legitimate need and they should be helped in our system. But no one can justify to me that such a huge group of the society should be on various forms of assistance. For example, why are so many morbidly obese people on food stamps?

But I digress... I am sure I am going to stoke some of the same hostility with my opinion that I have begged others not to participate in. I do not seek to inflame yet another pissing contest, and my point is simply that we are on our own if we wish to behave honestly, with integrity, and do the right thing for our families and by our country. I do not rely on the governement to make the right choices, and I accept that most of the economic leaders are corrupt.

My choice to own bullion and PM stocks is based on the concept that I will have to abandon any entitlements I have paid into. The rules will be rewritten such that my pension will be clawed back, my taxes payable will continually ramp up, and the prosperity I have earned will be under attack to pay for the poor decisions and lack of planning on behalf of others. I must build a safety net of wealth and be independent or face the decline of my living standards in line with the majority that have done nothing but put their hands out for their entire lives. That is the reality. That is why I own stocks like ECU, that I believe can deliver gains enough to build wealth even after all the crooks have taken their share from my income.

cheers!

mike