Happy 4th of July

Worth re-reading.

Here is the complete text of the Declaration of Independence.

Declaration of Independence

(Adopted by Congress on July 4, 1776)

The Unanimous Declaration of the Thirteen United States of America

When, in the course of human events, it becomes necessary for one people to dissolve the political bonds which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness.

Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and accordingly all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security. --Such has been the patient sufferance of these colonies; and such is now the necessity which constrains them to alter their former systems of government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute tyranny over these states. To prove this, let facts be submitted to a candid world.

He has refused his assent to laws, the most wholesome and necessary for the public good.

He has forbidden his governors to pass laws of immediate and pressing importance, unless suspended in their operation till his assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

He has refused to pass other laws for the accommodation of large districts of people, unless those people would relinquish the right of representation in the legislature, a right inestimable to them and formidable to tyrants only.

He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public records, for the sole purpose of fatiguing them into compliance with his measures.

He has dissolved representative houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.

He has refused for a long time, after such dissolutions, to cause others to be elected; whereby the legislative powers, incapable of annihilation, have returned to the people at large for their exercise; the state remaining in the meantime exposed to all the dangers of invasion from without, and convulsions within.

He has endeavored to prevent the population of these states; for that purpose obstructing the laws for naturalization of foreigners; refusing to pass others to encourage their migration hither, and raising the conditions of new appropriations of lands.

He has obstructed the administration of justice, by refusing his assent to laws for establishing judiciary powers.

He has made judges dependent on his will alone, for the tenure of their offices, and the amount and payment of their salaries.

He has erected a multitude of new offices, and sent hither swarms of officers to harass our people, and eat out their substance.

He has kept among us, in times of peace, standing armies without the consent of our legislature.

He has affected to render the military independent of and superior to civil power.

He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his assent to their acts of pretended legislation:

For quartering large bodies of armed troops among us:

For protecting them, by mock trial, from punishment for any murders which they should commit on the inhabitants of these states:

For cutting off our trade with all parts of the world:

For imposing taxes on us without our consent:

For depriving us in many cases, of the benefits of trial by jury:

For transporting us beyond seas to be tried for pretended offenses:

For abolishing the free system of English laws in a neighboring province, establishing therein an arbitrary government, and enlarging its boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule in these colonies:

For taking away our charters, abolishing our most valuable laws, and altering fundamentally the forms of our governments:

For suspending our own legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.

He has abdicated government here, by declaring us out of his protection and waging war against us.

He has plundered our seas, ravaged our coasts, burned our towns, and destroyed the lives of our people.

He is at this time transporting large armies of foreign mercenaries to complete the works of death, desolation and tyranny, already begun with circumstances of cruelty and perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the head of a civilized nation.

He has constrained our fellow citizens taken captive on the high seas to bear arms against their country, to become the executioners of their friends and brethren, or to fall themselves by their hands.

He has excited domestic insurrections amongst us, and has endeavored to bring on the inhabitants of our frontiers, the merciless Indian savages, whose known rule of warfare, is undistinguished destruction of all ages, sexes and conditions.

In every stage of these oppressions we have petitioned for redress in the most humble terms: our repeated petitions have been answered only by repeated injury. A prince, whose character is thus marked by every act which may define a tyrant, is unfit to be the ruler of a free people.

Nor have we been wanting in attention to our British brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our separation, and hold them, as we hold the rest of mankind, enemies in war, in peace friends.

We, therefore, the representatives of the United States of America, in General Congress, assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the name, and by the authority of the good people of these colonies, solemnly publish and declare, that these united colonies are, and of right ought to be free and independent states; that they are absolved from all allegiance to the British Crown, and that all political connection between them and the state of Great Britain, is and ought to be totally dissolved; and that as free and independent states, they have full power to levy war, conclude peace, contract alliances, establish commerce, and to do all other acts and things which independent states may of right do. And for the support of this declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

New Hampshire: Josiah Bartlett, William Whipple, Matthew Thornton

Massachusetts: John Hancock, Samual Adams, John Adams, Robert Treat Paine, Elbridge Gerry

Rhode Island: Stephen Hopkins, William Ellery

Connecticut: Roger Sherman, Samuel Huntington, William Williams, Oliver Wolcott

New York: William Floyd, Philip Livingston, Francis Lewis, Lewis Morris

New Jersey: Richard Stockton, John Witherspoon, Francis Hopkinson, John Hart, Abraham Clark

Pennsylvania: Robert Morris, Benjamin Rush, Benjamin Franklin, John Morton, George Clymer, James Smith, George Taylor, James Wilson, George Ross

Delaware: Caesar Rodney, George Read, Thomas McKean

Maryland: Samuel Chase, William Paca, Thomas Stone, Charles Carroll of Carrollton

Virginia: George Wythe, Richard Henry Lee, Thomas Jefferson, Benjamin Harrison, Thomas Nelson, Jr., Francis Lightfoot Lee, Carter Braxton

North Carolina: William Hooper, Joseph Hewes, John Penn

South Carolina: Edward Rutledge, Thomas Heyward, Jr., Thomas Lynch, Jr., Arthur Middleton

Georgia: Button Gwinnett, Lyman Hall, George Walton


This is a companion discussion topic for the original entry at https://peakprosperity.com/happy-4th-of-july-2/

If only more americans were interested in what this document and our constitution have to say.  Happy 4th of July…hopefully many more to come.

Lucas Marshall

 Priceless post Chris!
PS Dear Forefathers:

Sorry about this, and every other over site that has been committed.

Banks own the US government



For those who are concerned about our governance, and how to restore it back to "We The People".   Consider reading the post below (takes 5 to 10 minutes) toward offering some ideas of improving transparency and accountability of our system of checks and balances to more effectively serve all our citizens.
It’s called…Voter Empowerment for Government Accountability (VEGA).

It principles are meant to be consistent with…and it references both the Declaration Of Independence and Constitution.



What great men at tough times with forward thinking to write this. I am so humbled. I think many of our people do not realize what a great gift others fought & worked so hard to give them (they are entitled now). We are squandering it all away day by day just like our natural resources.
I suppose this is to be expected. Look how hard people had to work with respect back then & how they learned from others. Now people don’t have time to really pay attention to what their children learn let alone themselves. Just push a button on a remote & instantly sh!t happens (the path of least resistance).

I hope that "we the people" doesn’t read "we the squandered" in the future.

I got a coffee this morning and after i paid i told the cashier that she should read the declaration of independence when she got home from work. She responded with "why the hell would i want to do that". Wow.

This is the mindset of 90% of the country today. She probably didnt even know what i was talking about.

To those who are patriots, not happy independence today, but rather, a day of mourning as we see the dark future ahead of us. Maybe in a 100 years or so our childrens children will institute a similar document. For now, we get to see the original constitution shredded by the day.

Happy 4th to you and your family Chris, and all other right thinking Americans, particularly on this website.  As I read through your post today, I was almost moved to tears, to think what courage it must have taken to draft such a document and follow through with implementing it.  As I look at our country today, I see that so many of the ideas and ideals that motivated our founders have slipped away, and once again we find ourselves almost totally under the dominion of a powerful central government, huge powerful financial interests and mammoth corporations that are treated like real human beings…no…actually better than real human beings.
As much as I appreciate the freedoms that I still enjoy, my heart aches today for the direction our country has taken; the greed, the selfishness, the lack of compassion.  Being almost 73, my greatest grief today is for my children, my grandchildren and all those younger than me who will have to take very very strong steps to ever establish our country as a place where honest, hard working people have a chance to get ahead in life, while never forgetting that we owe every living being their dignity and well being.  

I happen to be one of those who believes that I cannot really be free until all are free and that I cannot truly experience prosperity until all have a sense of prosperity.  Surely, there is a way, a system of economics, a form of government, where people can be rewarded for their initiative, while at the same time those who, for whatever reason, fall through the cracks, can be cared for as well.

Age, and certain physical frailties limit what I can physically do, but I forever hold out hope!  May we find a way to come together with a consciousness that simply does not allow further destruction of individuals, or our nation.

Happy 4th Everyone.
Thanks Chris for posting The Declaration Of Independence.  I love to read it out loud every Fourth.  Try it.  It gives the words even more power.  Hopefully there are other persons around you to hear it being read.

I also like to read the list of Signers.  One of the Signers is of particular interest.  I happen to have the luxury of living in an area where I can pick up the broadcasts from one of the 5 Pacifica Radio Stations in this country, KPFK, 90.7 FM, in Los Angeles (it streams live on the Net if you are interested http://www.kpfk.org/index.php.  I don’t think most of you know about Pacifica.  It’s a listener supported radio network, the MOST non-MSM, source of information of which I know.  I listen to it just about everyday as I do with reading posts on CM.com just about everyday.

Anyway, the other morning one of the shows featured an interview of a writer of a new book on this Signer.  I learned a lot of history of which I was not aware.  I am posting below some info from Wikipedia.  Can you guess who he is?

This Founder is one of only two people to sign the three significant founding documents of the United States, the Declaration of Independence, the Articles of Confederation, and the U.S. Constitution.  DrKrbyLuv should know, being from Pittsburgh, (as I am…GO STEELERS & PENGUINS) since there is a school there named after him.  He was the first to use the $ symbol in official documents and in official communications.  

The man is Robert Morris.

More from Wiki: http://en.wikipedia.org/wiki/Robert_Morris_(financier)

"In 1781 the US was in a crisis. The British controlled the coast line from the sea, two major cities, and the western frontier. The treasury was in debt by $25 million and public credit had collapsed. With the failure of their own policies staring them in the face Congress changed from the committee systems they had used for years and created the first executive offices in American history. Morris held two of them, Finance and Marine. While his detractors worried he was gaining "dictatorial powers" he was granted what we would call today "executive authority". In a unanimous vote, Congress appointed Morris to be Superintendent of Finance of the United States from 1781 to 1784".

"Three days after becoming Superintendent of Finance Morris proposed the establishment of a national bank. This led to the creation of the first financial institution chartered by the United States, the Bank of North America, in 1782. The bank was funded in part by a significant loan Morris had obtained from France in 1781. The initial role of the bank was to finance the war against Britain".

"Washington wanted to appoint Morris Secretary of the Treasury in 1789, but Morris declined (suggesting instead Alexander Hamilton who was a supporter of his policies). He served as a United States Senator from 1789 to 1795. Morris was on 41 Senatorial committees and reported for many of them. He focused on using his position in the Legislature to support the Federalist economic program, which included internal improvements like canals and lighthouses to aid commerce. As Senator he generally supported the Federalist party and backed Hamilton’s economic proposals. Hamilton’s proposals were, in actuality, a rework of Morris’s report "On Public Credit", submitted some 10 years earlier".

"After he was sued by a former partner, a fraud who at that time was serving time in debtor’s prison himself, he was arrested and imprisoned for debt in Prune Street prison in Philadelphia from February 1798 to August 1801".

"Congress passed the Bankruptcy Laws, in part, to get Morris out of prison".

So, this man was one of our first Financial Elites or TPTB back then.  His story is amazing and goes to show just how influential the men with the money can be…funding wars and slavery.  How nice.


P.S. Nichoman, I like your new icon representation.


Thank you for the simple gift on this day Chris.
In rereading it, I was struck by the similarities between the offenses commited by the king of England then, and our own federal government today.

And that would make you Chris, in league with our founding fathers.  Indeed.



In rereading it, I was struck by the similarities between the offenses commited by the king of England then, and our own federal government today.


I too noticed the similarities. How sad.

Hey bearmarket!
I felt similar to you for quite a long time.  But I underestimated the ability of people to change.  Everyday, I see more and more people talking about the very topics found on Chris’ site.  More importasntly, our long stifled national dialog has begun again.  I hear people debating thoughts and different opinions in open discussion again.  Much of the harmful, rhetoric that reminded me of people rooting for their football team is just plain gone.  This is real, and the stakes are high.  People have the fear and the fear is like a whif of ammonia, awakening our nation to the things that need to be done.

Have hope,



since this might be considered politcial and not exactly economic i’ll just post it here…
 Eager to Tap Iraq’s Vast Oil Reserves, Industry Execs Suggested Invasion

Two years before the invasion of Iraq, oil executives and foreign policy advisers told the Bush administration that the United States would remain "a prisoner of its energy dilemma" as long as Saddam Hussein was in power.


im glad that you see some signs of hope. I wish i could find these people. Most people i know are looking to get their overleveraged homes refinanced by Obamas bailout plan. My law school classmates were talking about using student loans to buy homes, pull out equity and then walk away. I tell people about the 2 trillion dollar deficit, the AIG backdoor wall street bailout and all i get is blank stares. More recently, i see agression. The "gov" will pay for it. When the gov succeeds in bribing citizens with their own money the republic is dead. I think weve gone too far down the dark path. The only way we can go up is when we hit rock bottom, which will be in a long time from now. Becuase the US is so strong militarily, has such a large country with oceans, farmland aplenty, mountains with water galore, a good education system (which will be brought down by its costs but who knows when) the rule of law, and stable politics it will be a while till we crash and burn. I may not be alive when it happens, but when it does then we may "turn the corner". You think the wars end with afghanistan and iraq? Wait until the next attack my friend. In conclusion, i think the people in this country have gone too far down the dark path of fascism and crony socialism. We are destroying Afghanistan as we speak and no cares, most people dont even know that there is a war going on!!! Iraq has been decimated by our hands and no retribution has been given to the perpetrators of this crime. Americans accept war now as it is something normal, you know, it helps the "economy". With the populace so scared, lazy, having no knowledge, accept murderous imperialistic wars and only caring about when the next game, party or keeping up with the joneses is on their minds, the elite will continue to dominate until we are all broke. Maybe then, when we have a soviet style collapse will we change direction as a nation. Maybe then the media wont be so complacent. Maybe then people will bother to learn what a budget deficit is. Maybe then will the game not be so important anymore.


Take care, thanks for responding with your input





Happy Independence Day, America - see Post #2

The Price They Paid - Facts separated from fiction

It seems, notwithstanding Chris’s logical proclamation of "the next 20 years are going to be completely unlike the last 20," that there is a persistent belief in regaining/maintaining something resembling our decades-long mafiosa-stemic system of exploiting the weak, the resource rich, and the uninformed; ain’t gonna happen.
We’re going down and we’re going down hard. Within the next year–at the most–the average hourly wage (in purchasing power) of the average American worker is going to be equivalent to or less than that of thej average working Chinese…

The "dollar as reserve currency" was the only thing that allowed such an artificially high standard of (exploitative) living. This is a harsh reality that I see few here ready to honestly acknowledge–to the real extent to which it will inflict itself: the dollar was primarily responsible for the extreme differentials in quality of life that Americans have experienced (with respect to BRIC countries et al) ever since Nixon decided to "steal the world."

Given the pathetic level of education (California, the world’s 8th largest economy, can barely compete with Zimbaweans in math and science) and the fatal condition of the average American’s health (the average American weighs 72 pounds more than the average Korean), America will be lucky to avoid being considered a toxic human wasteland at best and a leper-like curiosity at best.

The worst of it is that the average American is simply another victim of Goldman Sachs: without us workers, the exploitation of the world’s workers and savers would have been impossible; that is to say, we were the pawns; we are now being sacrificed.

These criminals that work at Goldman Sachs get up every morning, do everything you and I do, from taking a shit to putting a coffee filter in the coffee maker; they aren’t special;  they aren’t immortal. They drive to work–on streets; they bleed; they’re vulnerable. They have famililies. They should be worried. Do we need to subjugate ourselves to other mortal humans simply because they are deranged with respect to their assessment of their self-worth in comparison to the real workers of the world? 

The most recent verification of this psychotic distortion of self-importance is the (Goldman-lobbied) passing of  "Waxman-Markey": instead of an implemention of a mafia-free graduated tax (as appropriate, and as described by Paul Craig Roberts: http://www.youtube.com/watch?v=WgekLmXmCB4), we now will be expected to suffer Goldman’s mafia-like exploitation–just as we did at $147 oil.  They’ve got a surprise coming this time…

Those few honest individuals within the Facist organization known as the U.S of Goldman Sachs can either present themselves to the authorities and plead for leniency for their whistleblower status,or…

I expect this 3-decade-long era of Reagonomic exploitation of the world to come to a nasty end shockingly soon; it’s within an individual’s power to determine what his/her specific "end" is. If the "father of Reagonomics" has come to understand the evil genie that he unleased, perhaps it is time for the simpletons in D.C. to realign their self-serving efforts and remember they are mortal…

May America live to enjoy an Independence Day celebration that is representative of reality.



Some food for thought Peter Schiff

Headless said
We’re going down and we’re going down hard. Within the next year–at the most–the average hourly wage (in purchasing power) of the average American worker is going to be equivalent to or less than that of thej average working Chinese…

There is no way the USD will lose that much value within the next year, let alone the next 5 years. Those bearish on the dollar are absolutely right in their predictions that the dollar will become weaker in the future. USDX at 60 is a possibility. However, it is important to understand the politics behind the strength of the dollar. Most of the powerful Asian nations are export orientated and thus depend on Europe and the US to buy their goods. Were their biggest customers to go bellyup within the next 2 years there economies would collapse along with ours. Of course, they will recover much much quicker then the US will as they have the present manufacturing base, the great labor force, preferable demographics, and low levels of debt. The producer nations stand to gain economic strength and prominence in the next two decades. Nevertheless, they will not let the US just crash overnight, its going to take a while.

Consider that the US has China surrounded with military bases in Japan, Korea, Phillipines, Afghanistan, Uzbekistan, etc. The US Air Force has over 6000 airplanes, 3000 fighter jets. Moreover, the US 800 bases worldwide and the EU depends on the US for protection on the eastern front. China fears us as many other nations do. Long term this military dominance strategy will fail as it has collapsed empire after empire. But dont let your emotions cloud your judgment. The US is still the worlds lone military, political, financial, entertainment, communications, educational, and technological capitol of the planet. All of this intellection, industrial and technological property did not arise overnight, and nor will it collapse overnight. People say that the US will crash like the USSR did. No, the USSR was a basketcase spending more than 50% of gdp on defense. The USSR had millions starve in the 50’s while the US was bringing in billions. USSR was weak other than its arms while the US is powerful within.

I am in agreement with you that America has alot of problems. I agree that the USD years as a world reserve currency are limited. Just dont forget to realize how deeply connected the rest of the world is to our economy.

They cant just cut us off overnight because of the fundamental imbalances in the world economy. We spend, they make. We consume, they produce. Because they have been debasing their currencies to prop up the dollar, if they abruptly stop propping up the dollar their currencies will rise dramatically while ours will fall. So many of the foreign manufacturers would suddenly find themselves with too many products to sell with not enough buyers. The foreign central banks have been robbing the producer nation citizens blind for the last 15 years. These nations will suffer the correction as well. Perhaps if they had pre-existing purchasing power the correction would be somewhat offset. But no, these chinese get paid crap and thus chinese manufacturers will implode just as quickly as our retailers would. Again, the productive capacity is overseas and thus they will recover more quickly. The big issue then is, do the foreign nations have the cajones to pull the trigger. Are they willing to face the sharp and downright scary crash that will result if the dollar goes capoot? The imbalance will eventually be cured but no one can know how long it will take. In the present time dollar propping continues. Treasury yields remain low with shockingly high foreign central bank demand.

In my opinion, and this is just an idea, i think the central banks around the world have a generally understanding of the problem. They meet at the Bank of International Settlements and discuss these things. Oil producers, asian manufacturers, and EU nations dont want to see their biggest customer crash within a year. They will slowly but surely decrease Treasury purchases. Also, dont forget who has the big guns and the 750 bases around the world. We may have 3rd world class people in the US, but many of the smartest minds of the world still reside in the US. US has 2 massive oceans protecting its borders. Glaciers, mountains, plains, rivers, and many more natural resources dot the land. Western deserts can supply solar power for the entire hemisphere.

Your crash wont happen overnight, its going to take some time, perhaps a very long time. But down we are going





Well thought out. I have to admit that your words caused me to lean back in my chair, turn my eyes upward in thought, and wonder why such a thougtful, well reasoned argument did absolutely nothing to change my opinion; after considering it for a moment, I came to this conclusion–which I’m not sure I reallly understood the simplicity of until just now:

There is no longer any difference between the U.S. government and other similar organzations such as Lehman Brothers, Bear Stearns, and Goldman Sachs. None. Not even size–when Real Final Returns on investment are considered.

I’m going to have to stick with the "sudden collapse" prognosis, due simply to the unfortunate reality that America, Herself, has now widely been recognized as a ponzi scheme. It’s a bigger, scarier game of chicken, but that’s exactly what it is right now.

Thanks for your thoughtful response. Good luck to us all.