Harry Schultz on the Power Elite, Free Markets, the Internet and Why Gold Is Going Much Higher

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Posted by Jack Pickering on 7/11/2010 5:58:57 AM

Great to see you are still at it Harry! ‒ a long time fan.

Posted by Rom on 7/11/2010 6:35:51 AM

"Loosely speaking, the best countries are where literacy is high ' Northern Europe, the UK, Ireland, Canada and South Australia. But there are exceptions to that."

Interesting, but from a different perspective if the High Tech world which is built on vodoo finance (fraud) was to collapse, it would be these countries which would suffer most. All their high technology that they are dependent on would stop working, the cities would empty. A fantastic documentary film about the industrial geography of Detroit in the US shows how the process would work.

Also there is a argument that high levels of literacy were needed in the High Tech world because the State wanted to control the population, they needed a population that was mass State schooled, so they would follow orders from 'authority' without question, fill in forms and pay their taxes and to have their opinions shaped and formed by the newspapers. The High Tech world is highly managed and controlled, everything from opinions and the way life itself is viewed is highly manipulated and filtered by gatekeepers. Orwell and Aldous Huxley obviously predicted correctly because they were working for the elite.

Posted by Navy65 on 7/11/2010 6:58:48 AM

Harry Shultz got my attention in the early 1970's. He, Harry Browne, and Richard Nixon (taking us off the gold standard in August 1971) changed my investment strategy forever. The Euro came along and wiped out the enjoyment of the currency exchange market. But G&S have remained the head of a conservative investment strategy. Otherwise, only real estate remains as the alternative to fiat investments. And the impending one-world government may destroy that avenue soon.

Posted by Ed on 7/11/2010 7:05:22 AM

This is a very good interview but short! I would like to bring to the fore another adviser or more to the point "Muckraker" I.F. Stone's investigative journalism. As far as I know, he did not back down from finding and disseminating the truth. Not a perfect being, leftist, Zionist, and against McCarthy, at least he was out front when others hid or engaged in self-censorship.

Reply from the Daily Bell:

Click to View Link

I.F. Stone, Soviet Agent"Case Closed

HARVEY KLEHR, JOHN EARL HAYNES AND ALEXANDER VASSILIEV
May 2009

When new information about Americans who had cooperated with the Soviet KGB began to emerge in the 1990s, no individual case generated as much controversy as that of the journalist I.F. Stone, who had long been installed in the pantheon of left-wing heroes as a symbol of rectitude and a teller of truth to power before his death in 1989. Charges about Stone's connections with the KGB have been swirling about for more than a decade, prompting cries of outrage among his passionate followers. Until now, the evidence was equivocal and subject to different interpretations. No longer.

In the early 1990s, one of us"Alexander Vassiliev, a former KGB officer turned Russian journalist"was given authorized access to the files of the SVR (the successor spy agency to the KGB in Russia following the collapse of the Soviet Union) to pursue research for a book that was eventually published in 1998 under the title The Haunted Wood.1 By the time of publication, Vassiliev, fearing retribution from hard-line Communists and nationalists angered by revelations of secrets, had moved permanently to Great Britain. He left his original notebooks, containing more than 1,100 pages of detailed notes and lengthy quotations, with friends in Moscow. They were filled with details about people and issues that did not fit the parameters of The Haunted Wood or whose significance Vassiliev did not then realize.

_____________

Retrieved by Vassiliev in 2002, the notebooks offer the most complete look at Soviet espionage in America we have yet had or will obtain until the likely far-off day when Russian authorities open the KGB's archives for independent research, eclipsing even the several thousand KGB cables partially decoded by the U.S. National Security Agency in the Venona project and released in 1995. They are the basis for our new book, Spies: The Rise and Fall of the KGB in America.2 And they provide startling new evidence about Stone's ties to Soviet intelligence.

_____________

Born Isidor Feinstein in Philadelphia in 1907 to Jewish immigrants from Russia, Stone dropped out of the University of Pennsylvania to become a journalist. After several years as the youngest editorial writer for a major metropolitan newspaper, the Philadelphia Record, he moved to the New York Post with instructions from its owner, J. David Stern, to transform the paper into a champion of New Deal liberalism. Stone was, however, more than just a New Deal liberal. His sympathy for Soviet communism was obvious. In June 1933, he declared that a 'Soviet America was 'the one way out that could make a real difference to the working classes and insisted that FDR's New Deal was not reforming America but leading it to fascism, a view that then reflected the position of the Communist Party of the United States (CPUSA).

Posted by Eddie on 7/11/2010 8:19:46 AM

I liked the commentary a lot, actually better than the interview. I would like to address a specific point made about Afghanistan:

'Second, we recall the WikiLeaks video of the 2007 killing of civilians and two Reuters employees by the US military. The shocking video, which seems to show American military pilots in a helicopter mistakenly gunning down "targets" in a cold-blooded way has yet to fully play out in the court of public opinion. But if the war in Afghanistan has a single tipping point toward disengagement, this video may have furnished it.'

I'm not aware of the video, but I'm sorry to say that public opinion does not have a lot of weight when it comes to swaying policy in the U.S.. For example: As far as I know Obama won the election on his dovish stance mainly. We know how that played out. Then there is the recent financial reform issue after the people clamored about being ripped off by Wall street bankers. From what I understand reform is now so watered down as to practically be 2000 pages of worthless gibberish. Well, worthless to 'we the people'.

Unfortunately the sociopaths and psychopaths in power will not stop accumulating wealth and power til they have raped and plundered the wealth of the planet and destroyed our only home with their short sighted games. As long as greed is not tempered by compassion on all levels, little can be done to make our world the garden of Eden it could and should be.

Reply from the Daily Bell:

We disagree. Maintaining a charade of social comity is most important. That's why they moved to co-opt the tea parties so quickly. There are perhaps 6,000 tilling the elite vineyards. If public opinion were not in important, the elite would not spend so much time on dominant social themes and mind control. That's a fact.

Posted by Sean on 7/11/2010 8:37:12 AM

Instead of 1000 independent nations, I think there should be 6 billion.

Posted by Ernest Kroll on 7/11/2010 9:27:35 AM

Bush the Younger obviously did not read history, he might have read Adam's quote "America does not go abroad in search of monsters to destroy." We have been embroiled in a war in Iraq that is proving both stupid and unconstitutional since Congress did not declare war ... it's true that Saddam Hussein was a cruel and murderous dictator, but his people were not pleading for help from us ... Iraq was not a threat to us, none of the terrorists that attacked us came from Iraq, they were all from Saudi Arabia ... why didn't we invade them? ... and now we are embroiled in a hopeless war in Afghanistan ... and one in Iran is looming ... when will we get leadership in OUR Oval Office and OUR Congress that will solve this moronic mess and stop the killing and wounding of our nation's finest? ... for one thing we have to stop our dependence on foreign oil ... it is criminal to waste the lives of our young men and women in the heat and dust of the Middle East ... not to mention the losses sustained by our loyal but misguided Allies ' Britain, Canada and Australia ...

Our Founding Fathers ' and those who rest in our National Cemeteries in foreign lands ' must be spinning in their graves right now ... will it take an Armageddon to make Americans see the error of their ways?

We need to kick out the progressives in our government at all levels ... this may not happen because the majority of Americans have become lazy, greedy and apathetic ... and ignorant of history and our own struggles to defend our liberties and freedoms ever since the Revolutionary War ... our public schools and universities are no longer institutions of learning but of indoctrination ... America is now living with its mistakes made ever since Woodrow Wilson was voted into office, culminating in the insanity of electing Carter, Clinton/Gore, Bush I, Bush II, Obama/Biden to the Executive Branch, and the progressives like Pelosi, Reid, Jeffers, Schumer, Dodd, Clinton, etc., to Congress ...

The problem is, will America be able to return to the principles of our Constitution as originally written ... I don't think so, because the majority of American people no longer believe in those principles ... they don't want liberty and freedom, they want security first, and are willing to lick the hand that shackles them ... nothing more than another insidious version of slavery that racked the black race in this country before the Civil War ' the War Between the States as it was officially named ... many of the black people during that time preferred the security of slavery to the liberties and freedoms offered them as free men, and that is what is happening to the generations of Americans starting with the disastrous election of Woodrow Wilson to the presidency ...

Please offer your prayers for the return of common sense and courage to our beloved country, and for the safety and safe return of our military to the arms of their loved ones and a grateful nation ...

God Bless Our Troops, and God Bless America ~ In God We Trust ~ Thanks for taking the time to read my thoughts.

Posted by Victor Barney on 7/11/2010 9:43:32 AM

I always check all things out by the "only" spiritually inspired script, which is Hebrew(Zeph. 3:9). The Hebrew Scriptures predict that at the end time that the power-elite will be Marxists(anti-messiahs by definition), lead by the anti-messiah(Head-leader of Anti-Messiah(Lucifer)) for 3 1/2 years! When one reads the Hebrew Scriptures, it's basically about "Israel"(America, by the seed of Joseph, inclusive of Judah, who was promised grace(messiah)) and the relationship between these set-apart people with their Creator and Savior and those called-out and set-apart during the last 3 1/2 years of man's rule! Come to think about, it "only" makes sense that the Beast in the end days could "only" come out of Israel(America) by the seed of Joseph! I wonder if this tribulation of "Israel"(America, by the seed of Joseph-(Gen. 48:16)) could start on this Feast of Trumpets(War) on September 9th? Watch!

Posted by Richard Lamb on 7/11/2010 9:44:18 AM

I first became acquainted with Schultz in 1966, his writings. I attended a Contrary Opinion symposium in 1967, featuring "Schultz".

He came and went, in a flash. I was not impressed. I continued to subscribe to his newsletter , for some time, but stopped finally-- too much "big I".

I attended a Schultz Economic Conference, in London, in 1968. What I remember most from that was the summary of a talk by Enoch Powell, a Parlamentarian, who summarized by saying, " When health care becomes free at the market place, there will be unlimited demand, and ultimate rationing".

As Schults said, "the more things change, the more they remain the same".

Posted by Sean Allison on 7/11/2010 10:27:09 AM

@ Mr Kroll,

I appreciate your earnestness and you make good points. However, I offer this counter. For example you say, "We must stop our dependence". If *WE* were to do this then *WE* would have done so as a *COLLECTIVE*, exchanging just one dependence for another, and always by the hand of statist police power.

Every so often here at the bell, a feedbacker asks essentially, ok DB, you keep showing us what is wrong, how do we fix it?

What is forgotten is that WE are in this mess because WE have "FIXED" so many "problems" together previously.

If you want to be independent of oil, stop driving and go cut some firewood for the winter. Seriously. Think about it. And don't use any plastic products.

Here is my point. **Individual sovereignty (freedom) is not purchased collectively.** If anyone is protecting your freedom, you are not free. You are a ward. Its a legal, and natural fact.

IMHO, this is a significant takeaway of von Mises great message of human action. You will be as free as you are responsible.

Sincerely and respectfully offered.

Reply from the Daily Bell:

Well done.

Posted by Pat Fields on 7/11/2010 10:54:55 AM

DB Cite: "We would never turn down the ability to learn more about our world, and the Internet has provided that opportunity."

In an interview and response chock full of poignant insights and thought provoking statements, the above snippet may be perhaps the most elusively instructive of all that was said.

As one who has been a user, irresistibly immersed in the medium from its nascent days as an inter-collegiate Bulletin Board hodge-podge, to its present form ... I fall, like a sack of barley, on the side of Daily Bell's position.

The ongoing intellectual revolution nurtured by the internet is indescribable by any other term than ... momentous.

Reply from the Daily Bell:

Yes, glad you see it. It seems to us incontrovertible. Sometimes, as was pointed out long ago, the medium is the message.

Posted by Ingo Bischoff on 7/11/2010 11:11:27 AM

Harry Schultz's comment, "that the antidote to a one-world order is 1,000 tiny nations", is a most astute observation.

The repeal of the 17th Amendment to the U.S. Constitution by the individual, sovereign united States could set us on the road to just such a development. It would bring forth a movement to eliminate central banking, and it would promote a taxation system which would require all taxes to be collected locally to pay for all levels of government.

The resulting economic conditions would create market competition among these 1,000 tiny nations to raise living standards all over the world.

The meme of a "one world government" as the solution to benefitting mankind would be shown up as just another brain child of the "elites".

Posted by Sonya Slysh on 7/11/2010 11:13:59 AM

Fantastic interview! Please continue interviewing people who have the "Big Picture" perspective on the power elite/shadow world government manipulating people, world events and financial systems.

Also, I read on the Internet that all information about the continuing oil spill in the Gulf of Mexico has been blocked from the media. There are now fines and jail time for any media giving information about the oil leak. What is going on there that the
US government does not want people to know about? Maybe you could find someone who knows and is willing to give an interview.

Posted by John Mahler on 7/11/2010 11:14:25 AM

One doesn't invest in gold. Gold has pays no dividends. Gold has no price earnings ratio. Gold produces nothing. Gold discovers and invents nothing. Gold is not an IPO. Gold is only a metal. Gold is not an investment because it has no power to appreciate. When one purchases gold it has only one benefit to the buyer and that is as an indicator of the "temperature" of the inflationary / deflationary nature of fiat bank notes in circulation.

Purchasing gold is an exercise in futility because purchasing power of profits gained is exactly equal to the purchasing power of the original bank notes when it is sold. Because of inflation the only possible gain is in the plurality of bank notes. Buying gold is rather like the kid who purchases a packet of potato chips and proceeds to crush them into smaller pieces because in his definition of the word "more" having plurality is the deciding factor.

That the unopened bag of crushed chips weigh exactly what the whole chips weigh never enters his consideration. So too, gold bugs and silver hoarders deceive themselves. When metal again backs bank notes under the oversight of Congress, after the FED banking cartel is driven from the Federal Government, gold will then have relevance. If the currency is counterfeited or inflated, gold ownership then would be a hedge against the dilution of purchasing power of the bank notes in circulation. At the present time, all buyers of gold accomplish "investing" in gold is smashing their packets of potato chips.

Reply from the Daily Bell:

Gold has traveled from US$250 at the beginning of the decade to US$1200 today. That buys a lot of potato chips.

Posted by Pat Fields on 7/11/2010 11:36:37 AM

Ingo Bischoff Cite: "The repeal of the 17th Amendment to the U.S. Constitution by the individual, sovereign united States could set us on the road to just such a development."

While I agree that the 17th should be repealed ASAP ...I respectfully urge you to more vigorously explore the full ramifications of Art. IV, Sec. 3, cl. 2. It is traverse to exclusive Congressional jurisdiction that lay beneath all of our government's seeming ultra vires circumnavigation of our Constitutions.

Though I don't derive the exact conclusions as the author, I also commend that you review chapter 14 of 'Dulocracy in America' which is available as a free section from the book's website, delocracy.com as it describes in great detail how this traverse is orchestrated.

Posted by V. Heddins on 7/11/2010 11:37:31 AM

I.F. Stone and all of the "Venona Project" results CANNOT BE OVER EXPOSED to the American people today. I.F. Stone is jumping through the flames of hell today for the cover up he done on Stalin's winter massacre of Ukraine. I.F. Stone white washed it for American's.

I.F. Stone needs to be revisited today to show America what happens when Politicians get in bed with the media.

Posted by Pete on 7/11/2010 11:56:02 AM

Here is the WikiLeaks video referred to in the interview After Thoughts: Click to View Link/

Posted by Pat Fields on 7/11/2010 12:11:34 PM

John Mahler Cite: "Gold ... has no power to appreciate."

Now, let's examine what is not 'seen'. Usefully reliable data on gross recovery of precious metals and population growth are fairly new phenomena, so economists generally fail to appreciate their co-efficient effect. Not being a professional (that is ... paid) economist myself, I can't boast an exhaustive study to definitively prove out my observations, but since it is now known that population growth on avarage exceeds mine recovery by a small percentage, it is clear enough that metallic money does in fact appreciate in value according to the rules of supply-demand.

In fact that effect, I contend, is the underlying cause of debauchery in fixed value coinage and the impetus for seeking out insane schemes of self-destructive monetary delusions such as paper 'money'.

Posted by Mike Intille on 7/11/2010 12:43:56 PM

There is something a lot more powerful than gold to be used as the basis for the world economy. It is nuclear fuel. Lamenting about the implications of dealing with the oil producing nations and the rising cost of the finding new sources of oil and the throwback that says go burn another fossil fuel (wood), We need to focus on the real solution.

Cheap clean electric power in large amounts. If we had built our 500 new nuclear electric plants instead of hiding our head in the sands of the Middle East, electricity would cost 1/2 a cent per kilowatt hour and the moguls in Detroit would have been forced to build reliable electric cars and we would have cheap sources of power for our aluminum and steel plants as cheap labor would not have usurped the cost of our cheap fuel. We in the USA would have kept our mills and kept our production and kept our enviornment clean. Is there a risk????? You bet there is. The risk of an accident. The risk of stolen bomb material. These risks I believe are far more controlable than the risks of political disintergration and endless wars and fighting over truely large scale polluting substances that we continue to consume. We in the USA are it seems willing to settle for trying to revert to the secure past instead of looking for new roads to forge a new future.

An example is that the services are looking to stop training new pilots for aircraft because the robots in our aircraft systems are more reliable and more physically able to handle the stressses flying than our human pilots. Will you fly in an airplane with a robot pilot. Of course, I would because it is safer. Some 80% of all aircraft accidents are pilot error. There are still folks that will only travel on the ground and that is fine as long as the media does not expand their point of view to be the main stream. That will stop progress and growth and endanger the well being of the increasing numbers of people in the future generations. We need to stop looking at failed solutions to our energy needs that are supporting the run on gold and start thinking not of new ways to solve our crisis but using the ways we know will work to solve it by making those ways better and safer.

Nuclear energy is a major factor in determining where the price of gold will go. Make clean cheap energy by addressing the controllable nuclear risks and the price of gold will plummet and freedom to their way of life will again be availble to the average people.

Reply from the Daily Bell:

From our point of view, gold and silver are money. Historical fact.

Posted by Scooter on 7/11/2010 1:08:54 PM

Great interview. I had never heard of mr schultz, I will look into other things he has written.thanks Bell.

Posted by DRUNK AND DISORDERLY on 7/11/2010 1:37:08 PM

I respectively disagree with Mr. Shultz in his statement that "There is no free market anywhere. Every commodity and all markets are manipulated...". It is no secret that Spot Price and Gold and Silver ETF's are manipulated as are any paper representations of bullion.

Possibly because of his obvious disdain for the internet and the important role it plays in information and marketing, he is unaware of one G&S market that does not seem to be manipulated"eBay. Every day thousands, or perhaps tens of thousands, buyers and sellers on eBay make PM deals that establish "market price". These data are reported through the independent link:

Click to View Link/

I wish there was an effective competitor to eBay to further insure a grass roots, independent market exchange will always be available. For larger purchases at near-wholesale prices of PM's, I suggest the firm of Colorado Gold.

Posted by Capt. A. on 7/11/2010 1:39:40 PM

@Sean Allison who wrote on 7/11/2010 10:27:09 AM

Your observations from this observer are both accurate and precise. As said, 'Spot on.'
*******************

A DEBT of gratitude to these frontier leaders that I often think of in admiration: Messrs. Harry Schultz, the late Harry Browne and last but not least, the late, venerable Frank Chodorov whose personal conversations over the last part of his life caused me to strive to become a well-heeled renegade, to engage in the quest of becoming a true sovereign individual; and never taking my 'eye off the ball'"to attain freedom, liberty, privacy"both financial and personal. Not government, religion, tribal inculcation (culture), family, friends or circumstance was strong enough to alter my path nearly fifty-years ago"to remain a tax slave. The costs were stiff ... the rewards were and are magnanimous... To live the only life you will ever have 'trapped' by the collective is well beyond this captain's understanding. C'est la guerre.

Capt. A., Principaute de Monaco
GMT 2:00 CET

Posted by Michael Hodgkiss on 7/11/2010 1:56:23 PM

Our Republic was established by fighting a war with the British Empire. We have never finished that fight, as the continued existence of the Federal Reserve bank arm of that empire confirms.
Why would any self respecting patriot want to listen to someone who has been knighted by the Queen of that empire five times, and who calls for replacing our and other great republics with 1000 tiny (read) impotent nations, which would have no power to oppose the tyranny of the global London based financial families? Maybe the reason he has lived in so many other countries is because he hates ours.

Posted by MetaCynic on 7/11/2010 2:41:17 PM

I recently read an article by Gary North in which he argues that a conspiratorial power elite cannot succeed if its objectives run counter to the fundamental values and beliefs of the society in which it operates.

Since the objectives of power elites throughout history have been to steal and control, they will succeed to the extent that the society at large sees nothing morally wrong with stealing and controlling. People's participation in voting in democracies certainly confirms this observation. Democracy as proudly practiced today is simply a mechanism for feeling virtuous about stealing from others and micro-managing their lives!

Certainly no one votes to raise his own taxes or to place himself under someone else's control and few vote to be left alone. The vast majority of voters vote in the hope that they will be the beneficiaries of a government forced wealth transfer. So theft and wealth distribution via the gun of the government is morally acceptable today as is forcing others to live according to one's own values whether those values be "liberal" or "conservative."

Maybe the power elite have labored mightily to engineer this shift in morality, or maybe they are simply tapping into a hardwired human yearning for larceny without guilt. Most likely both. Either way, they are exploiting this social moral numbness to their advantage by claiming that they are stealing and regulating on behalf of the public good while primarily lining their own pockets with the loot and regulating their smaller competitors out of business. What allows them to get away with these crimes is widespread public belief that forced wealth redistribution and social engineering achieves some greater good.

Ludwig von Mises once observed that Hitler did not invent Nazism, he was the end result of fundamental Nazi values that had already permeated German society and were embraced by all political parties. Hitler and his gang were simply more consistent than anyone else in cobbling together a ruthless movement to promote those values.

The power elite today are doing the same thing. It is true that the internet has exposed their crimes. Yet the public's resentment runs along the lines of why bail out the evil bankers when the precious public schools need more taxpayer money? Despite the internet, the elites' gains cannot be reversed until there is a moral revolution in the West which firmly establishes individual responsibility for one's life and rejects theft and control through democracy.

Posted by David Silverman on 7/11/2010 3:44:59 PM

there is a lot of thought to digest,

Posted by Bryan on 7/11/2010 3:49:14 PM

Metacynic, a rhetorical question----

If one is completely responsible for his behavior and life, then if he witnesses child rape by an adult male, should he not be responsible for killing the rapist? Or should he rely on a legal system that AT BEST will imprison the rapist for a short time, and possibly allow him freedom to do it again and/or reproduce?

Posted by Eddie on 7/11/2010 5:45:41 PM

D.B., in response to your counter:

'Reply from the Daily Bell':

We disagree. Maintaining a charade of social comity is most important. That's why they moved to co-opt the tea parties so quickly. There are perhaps 6,000 tilling the elite vineyards. If public opinion were not in important, the elite would not spend so much time on dominant social themes and mind control. That's a fact.

I in turn completely agree with you that the elite will lie and cajole and most of all try to manage opinion. What I wanted to point out is that what we the people want does not seem to sway policy makers to be responsive to us. It is mostly lip service, empty promises and letting enough time elapse for the issue of the day to become drowned out by succeeding tomorrows and their own pressing demands. Nor does there seem to be any accountability, as we are told we shouldn't be playing the blame game.

They get their marching orders and seem to do their Masters bidding with impunity again and again. And who can and is willing to stand against their power?

I am interested where you get the number of 6000 elitists. I would like to be a fly in the room when they get together and try to agree on anything. One thing they seem to agree on for sure: The right to print money.

Reply from the Daily Bell:

"What I wanted to point out is that what we the people want does not seem to sway policy makers to be responsive to us."

We will be writing about this. It is a fatal flaw, in our opinion, and one that you have correctly perceived. However ... when the elite continues to flog dominant social themes when such are no longer accepted, then real trouble begins. You mention it as if a fact of life and a certainty. But our point would be that it is a new phenomenon and will be duly challenged. Wait. These are uncharted waters.

Posted by Arthur on 7/11/2010 5:53:56 PM

"Sky is the limit for gold. Governments are losing control of gold. They cheat, steal, lie, maneuver ... but gold will beat them and is already doing so, in stages."

I wondered what Mr. Shultz meant here....

great interview " only too short

Reply from the Daily Bell:

He meant gold is going up.

Posted by Paul Weber on 7/11/2010 6:14:56 PM

Gold and silver coins are simply the ultimate form of money in the event of a complete economic collapse. Just a few key economic events (for example, China dumping dollar debt holdings) could collapse the dollar, leading to hyperinflation. At that point, those holding gold and silver coins will find they have tremendous buying power. Those holding dollars will find no one wants to take them. The system will likely fall back on gold, silver, and barter.

The US, through holding the world's reserve currency, has "exported inflation" for the past fifty years, mitigating the inflationary effects of Washington's irresponsible policies. Eventually, that escape valve will close permanently. When it does, look for bargains on the one hand, riots and insurrection on the other.

Very trying times are coming to America.

Posted by Gerald Bostock on 7/11/2010 7:50:57 PM

Once again, a brilliant interview with a brilliant man (just like Rick Rule). I commend you for the continuing excellent daily articles, with a cherry on top every Sunday! I also commend the people that comment here. Some of you are like word doctors with great medical skill, insight, and determination.

One can see the subtle connection between Rick Rule last week and Harry Schultz this week with respect to the internet. The octogenarian has 6 tentacles in the past, 1 tentacle in the present and 1 tentacle into the future. His tentacle onto the future has grasped the current internet evolutionary shift very well. Sir, you nailed it!

For example, most sites force cookies on you in order to comment. Yours does not. Therefore, people are free to speak freely (to a point). Most people think cookies are things you eat, but they are things the snoops eat.

Rick Rule: "...narrow-cast information like The Bell is doing... most people in the world prefer to feel, as opposed to think......If they know how to exploit it, they can extend their grasp. But I don't think they are smart enough...There will always be those who find a way to outsmart them over time. And I think it will be a good fight..."

Harry Shultz: "I think a new form of low-tech (cool-tech?) will emerge."

Now, the internet began as a bulletin board service with a weak link to other bulletin boards, but not a real great information exchange. After your Hayes Modem had pulled up its winsocks, the game changed. It is changing again, but this time, it is virtually impossible for the snoops to get in on the chatter.

It is an invitation-only virtual email transmission system. It is a heck of a lot slower than narrow band communication such as yours at this web site, but people comment and speak even more freely than on the net. The service is free as freedom is free. As soon as you pay, then consider yourself snooped. When I say invitation only, it is somewhat like a person who gives a special knock at the medieval wooden door, and a small barred window opens.

If the person knocking does not have the correct historical provable chatter, let's say chatter on this web site, then the door closes, and you get no reply. This way, snoops and stooges cannot say the correct thing, ever, and get in. If it were to be snooped, there would be nothing to see, therefore harmless. As you stumble across the net, you may run into one such email address. You say who your are, where you speak, and they examine the return email info for tell-tale signs as to where it is coming from.

Welcome to the future, and thanks Harry, for blowing our cover, not! I raise my cup of Java (with a shot of IPV6) to you, my friend!

Reply from the Daily Bell:

Thanks for this perspective.

Posted by The Swiss Genome on 7/11/2010 8:09:23 PM

Great Interview . . . . . Harry has been a shining beacon in a sea of fog for years. His insight, strategies and recommendations have been spot-on, consistent and far ahead of others. Thank god for people like Harry the world needs more of them. I am glad to have thus far benefited from his knowledge, frankness and honesty. Harry, Looking foward to the next 20 years. JLS

Posted by John Danforth on 7/11/2010 10:02:35 PM

Nice interview. There are sea changes underway brought by computers and the internet beyond those mentioned.

Besides the crumbling of the information gateway of the mainstream press, there is the crumbling of brick-and-mortar colleges, with their economic gatekeeping and elitist control over thought and information as well. The cost of information is coming ever closer to zero, something never before seen in human history.

The difference between a candidate's debate on TV and unmoderated flame wars on the internet is that on the internet, the logical position eventually prevails, or at least has a chance to be aired. Thus internet-based schemes to spread misinformation and disinformation are ultimately doomed to fail (often comically).

You can lead a horse to water, but you can't make him drink. So even with free information, getting the rabble to read and understand might be as impossible as ever. As long as the elite control TV, radio, and other forms of ENTERTAINMENT media, they might still exert a formidable amount of control over events. The problem for the elite is that, contrary to expectations, people use their computers for entertainment, flooding the network with porn and trivialities, thwarting any schemes for guidance and flooding attempts at broad surveillance.

Still, it is those who learn and use information that have the ability to affect the course of events. The decrease in the cost of information is washing the foundation from under brick-and-mortar instruments of control. The flood of mindless users buying ever more powerful machines and using them for mindless purposes simply serves to lower the cost of information further for those who would use it.

As the truth leaks like a sieve around the multi-billion dollar artifices erected to contain it, the emperor's new outfit increasingly becomes the subject of ridicule. The internet does help point out how ridiculous these schemes are. Enough people learn the truth and talk about it, and eventually the truth does reach the rabble. By the time Leviathan reacts by attempting to discredit us, it is already proving our point.

This is a sea change that avoiders of the internet won't perceive, even while they are affected by it.

I disagree with Schultz's take on technology. I'll just say it's obvious he doesn't have a background in manufacturing. Technology has reduced the cost to design and build machinery to less than 1/4 the cost of 30 years ago. Despite the destruction of our manufacturing base, the barriers to entry into small-scale manufacturing have been drastically lowered. And that is probably a good thing, considering what's probably in store for us.

Reply from the Daily Bell:

Excellent! We pointed out years ago that the entire infrastructure of modern Western media was headed for a great "Write Off," but now you have pointed out larger ramifications having to do with a more a broad loss of control.

Your point about the reactivity of the elites confirming the conspiratorial "accusation" is brilliant. It's true. We have seen this in action with global warming. John Danforth, start a blog.

Posted by Sean Allison on 7/11/2010 10:39:35 PM

@Capt. A.

Sir, I would like to hear your story of how you did so. 50 yrs of responsible living could be a wealth for the rest of us.

Posted by John Conley on 7/12/2010 1:52:57 AM

Wow. It's my first time here, and I like the spirit of the commentary. I have read Harry Schultz's work for ten years now, as I became a hobby student of economics. Before that I had been a hobby student of politics, but that was ultimately frustrating and I turned away... but in following the money I have found answers to what I thought were intractable questions. Never mind the elite, except to be on the lookout for how their moves crimp your business activities or open up new opportunities. The thing we need most is a return to productive (and unfettered) enterprise.

The challenge that we face is to co-opt the elite by showing them that ours is a better way and will make them richer... turn the tables, so to speak. I believe that this is possible and indeed probable due in large part to the ever increasing speed of technological development. Harry may not like it but it is a fact of life, and although I agree with his reasoning, I must embrace speed nonetheless... and yes I understand its danger.

That notwithstanding, I think that technology is the last great frontier. Good luck and God speed; may the pace of new and profitable invention overtake the current fool's grab for power by its sheer profitability and concurrent contribution to the well being of all. As Thomas Edison once said 'There's always a way to do it better... Find it!'

Reply from the Daily Bell:

Thanks. But here is a question ... If reports be true, how do you co-opt a family worth US/EU $40 trillion?

Posted by Anon...anon on 7/12/2010 2:08:39 AM

"You will be as free as you are responsible."

THAT's brilliant. If only we could somehow attribute that quote to Jesus, ....just hoping...

I've often wanted to paraphrase another line as, "Lest ye become as responsible adults, ye shall not live well upon the Kingdom of Earth, much less inherit any other Kingdom".

My 2 cents: the internet is doing for man's mind what fire did for his body. Schultz has a good point that hi-tech is not dependable, but that's a mere kink to be worked out. Keeping the internet free and un-monopolized by any power elite is going to be REAL important.

Posted by Phil on 7/12/2010 3:45:43 AM

He talks about "SPEED" !

Ever wondered what causes this "speed" ?
My opinion : Compound interest (on interest) on our Debt money.

Whether it is a chicken and egg situation ? :
a) the greed causes the speed, OR ...
b) the pressure from compound interest forces the "speed"

i.e. Cos. have to become more aggressive in their quest to stop their profits from becoming ERODED by the ever growing debt they are using to operate.

Posted by John Conley on 7/12/2010 10:13:04 AM

Editors: The co-opting of said family is done by productively providing jobs that keep the proletariat off their backs. A simple example would be to open shop making a product that incorporates a component that is purchased from a company owned by said family. I know it sounds overly simplistic to put it like this, but how else, short of worldwide insurrection, can we solve the problem? I intend to develop new technology that will create just such a win-win situation. I wont be doing it out of altruism, but because I wish safe passage and realize that to gain it from my current position I must share the bounty.

If we can slow the rapacious pace of the attempt at one-world-order, then maybe, just maybe, the world will enlighten itself a bit more in that time, perhaps enough to stop the effort or at least soften the blow with sensible policies.

All that being said, you may be right that a group worth 40 trillion doesnt really need more, but I believe if they are human (some would say its a big if...) then I think they will be inclined to at least be open to it.

Change is coming regardless of who promises to bring it, and Hope, while an excellent personal virtue, is a lousy business strategy. Good luck to all.

Posted by Marcus on 7/12/2010 11:43:31 AM

Dean Harry is the best! His side-kick for years, Jim Sinclair, has a new book out explaining it all: A Pocketbook of Gold. A Must read, for anyone interested in these things.

Posted by Capt. A. on 7/12/2010 1:41:22 PM

TO: THE BELL, I respectfully apologize for using your excellent forum platform to post an almost brief comment to Mr. Sean Allison's post on 7/11/2010 10:39:35 PM. It will not become a regular event I assure you. ~ Capt. A.

TO: Mr. Sean Allison:

Thank you for your inquisitive comment. I, just south of being an octogenarian, receive, only rarely, requests to 'story' my experiences of living as a true sovereign individual. Privacy is essentially the bulwark for rarely responding to such requests. This comment below essentially applies to any flag carrier. (The passport you carry) Now consider these several very old adages Sean...

1. 'Don't worry about the mule ... just load the wagon!' And...

2. 'Freedom is feeling free and easy in your harness ... as long as the government(s) always maintains control of the reins.' (Between 'ownership and control' opt for control! The rich understand this acute observation.)

Considerable, profound thought is necessary to grasp the significant meaning of these adages to ultimately create the 'action' necessary to achieve your intended results.

In this world, as it stands today, (aside from the theory of being 'free," as in your mind) the corporeal understanding of freedom, liberty, privacy (both financial and personal), as well as what private property carries for a definition"it is subjective determination for each individual who creates the ideas and 'actions' necessary to achieve individual results. This always opposes the collective"always. You no longer need or want the opinions of others who worship the collective; and brother, believe me, they (the masses) do! You already know this... This world is filled with wheedlers and gimme-gimmes, 'voting' for redistribution of other people's wealth. That's the way it is... It's up to you and you alone to change that if you so desire.

I'd say looking back, the SINGLE most relevant understanding of being truly 'free' is the ability to disassociate from the state (jurisdiction) via: renouncing citizenship of any flag that uses predominate FORCE to preclude your ability to determine your understanding and action to achieve freedom, liberty, privacy etc. If you are incapable of considering the renouncement of citizenship ... don't worry about the mule, get on with loading the wagon! (Don't question, what the rate of interest is if you don't even have the ability to repay the principle.) The importance of this issue, renouncing citizenship is paramount to truly gaining the greatest perspective of REAL freedom. I have met in the last 40-50-years, as example, only 4 or 5 Americans and a handful of other flag carriers that 'jumped ship!' It IS a very rare thing! Inculcation via the state, tribe, friends and family usually preclude an individual from partaking of such disassociation. Again, in the Big Picture, it's very, very rare ... but necessary. So, if you can't conceive of this drastic action, then 'feel free and easy in your harness' from cradle to grave. That's the way it is. Experientially, I've witnessed just about every Action of Denial for decades, as to why, 'I can't!' Don't worry about the mule...

Then ... you must choose and pick a flag (Passport) that has the merits of freedom and visa-free travel that your wallet will allow. See, it gets more difficult the deeper you go ... to achieve that elusive freedom and liberty... That's why the masses of collared 'tax slaves' give up! It's just too tough! The System (elites and bureaucrats) of people-control will not benefit you in the least. Capisce? Again, I can't envision living the only life I will/would ever have"as a tax slave. For me the stench is unbearable!

If you so choose, and renounce the citizenship of 'greatest' slavery for one of 'least' slavery, you will have already done your homework ... well on your way to achieving the almost appearing impossible! It can be done. It is a road best traveled alone. Then you will start the journey to becoming a life-long renegade, an inveterate iconoclast capable of sustaining the requirements of being a sovereign individual with the greatest possible degree of freedom and liberty obtainable in this world today. I know, for I am one. Take care and trust that it can be done. The tools (Internet too!) to achieve these attributes reside within every person who truly has the lust for his or her freedom ... and will settle for nothing less. That's the key! Nothing less! It takes action! It's the toughest thing you will ever probably do in your life ... but if done right, there is nothing that I can recall in my life that has produced such prodigious and outstanding results. Simple as that. Otherwise, load the wagon. C'est la guerre.

Capt. A., Principaute de Monaco
GMT 2:00 CET

Reply from the Daily Bell:

Post away.

Posted by Ivan on 7/12/2010 2:07:19 PM

Further up the comments, the poster used the old adage, "You can lead a horse to water, but you can't make him drink." -- I imagine that an Elite control freak would respond like this: "Maybe you can't make him drink, but you can "manage" him to drink. How do you that, you ask? It's simple, you salt his oats.

I'm a first timer on your site. I came for the Schultz interview via Jim Sinclair's site. I appreciate the comments for the most part since they are not the inane drivel one finds on other sites. I'll be back.

Posted by The Swiss Genome on 7/12/2010 3:35:18 PM

Whether you agree with Harry's summations or not he has made you think about things a little differently and that's the point !
Keep up the Great Work.

Posted by Lila Rajiva on 7/12/2010 5:39:31 PM

@DB

No writers and thinkers except in cool climates? Creativity is affected by the weather?

Hmm. I would have expected that from Jared Diamond not a libertarian.

Re Africa. It's wise not to leap to superficial conclusions without a knowledge of history.

Before the excavation of Mohenjo Daro, there were many who theorized, in the same fashion, that darker skinned people from warm climates were incapable of creating a high culture or civilization.

Other than that, Mr. Schultz's opinions are interesting, coming from an important figure in the hard money community.

I see that you've become interested in Echelon too.
Click to View Link />
Good going.
Lila Rajiva

Posted by Sean Allison on 7/14/2010 5:00:40 PM

@Capt. A.

Thank you for your short story.

I'm not entirely unfamiliar with the concept. This is one reason why I am glad for the Bell's more than one-time mention and support of common law.

The flag (passport) is the symbol of admiralty (or commercial) law. This is as opposed to common law. Common law is that law that exists apart from contract. All of man's legislation is contract law. Hence, the concept of social contract or "consent of the governed".

The passport (or driver's license, or marriage license, corporate charter, social-security license, voting, birth certificate, divorce etc.) is evidence of agreement to the contracts.

By the agreements, the government maintains the lawfulness to regulate us.

Personally, I believe these things are absolutely real. In a sense, we have a libertarian society already. In that we all really have agreed to the contracts.

And also the reason why I stress seeking responsibility in my own life, as opposed to seeking freedom.

Thanks again and best regards,
I hope to see/hear more from you here in the future.

If you ever get to South-Central PA USA, it would be great to meet you.

Posted by Bosch on 7/16/2010 11:07:49 AM

great info

Click to View Link

Reply from the Daily Bell:

Thanks for the link.

Posted by JimBo on 7/16/2010 10:08:24 PM

I noticed all the links people were shared were omitted. How come? What's the harm?

Reply from the Daily Bell:

There are links ...

Posted by Alfred on 7/17/2010 10:35:43 AM

It is disgusting that Harry D. Schultz thinks the world would be better off without the Internet. Freedom, man – FREEDOM!!!

Posted by Shuman on 7/17/2010 2:47:25 PM

27 years ago the KAL007 shootdown by bthe soviets had a dramatic effect on the increasing exposure of the conspiratorial apparatus by the killing of Congressman Larry McDonald. in his position as president of The John Birch Society and a congressman he was able to expose a lot of things that now are never mentioned in The Congressional Record. he realized his risks, but as his wife says, he continued "tilting with windmills" to his violent end. Harry Schultz was one of his favorite sources.

Posted by Russ Smith on 7/18/2010 10:14:18 AM

Hi!, Readers:

I've posted the following elsewhere before & continue hoping that my paltry posts may arrouse enormous inner links towards understanding more of our & others' human nature.

Thomas Edison is credited with having said: "Not 1 person on this Planet knows even 1 millionth of 1% about anything!"

That being so true as we all can easily detect, even including our high tech, computerized society today, means in my opinion that this also applies to the so called "elite" & therefore will be a determinant factor in the demise of their sanctimonious schemes to rule. 1 millionth of 1% gives them little ultimate edge to succeeed; compared to the many avenues from which their plans will eventually fail them & put them into their logical sociological places by natural laws governing all human nature limited as stated by Mr. Edisons' remark.

Best advise for the elitists was given by Allen Alda, the head Dr. from the TV series MASH: "Challenge your assumptions! Your assumptions are your windows on the world. Scrub them off every once in awhile; so the light can shine within!" By the way Mr. Alda's premise here is good for everyone anywhere anytime & can help all of us co-operate in the process towards committing ourselves to producing a better world order for everyone everywhere naturally by natural laws that order our human behavior ultimately towards what is good for us...in my perspective anyway!

It looks like the law of averages are on the side of everyone and even ultimately on the side of those who think they're the elite, because look at the good they can and perhaps ultimate will bring to pass, once together we learn the lessons on how best to live this life we've been so blessedly given!

Click to Email

Posted by Mihail on 7/18/2010 10:57:41 PM

Power Elite,c-mon man,is the JEWISH ELITE,THE PROTOCOL IS VERY CLEAR ABOUT THE JEW WORLD ORDER.
Click to View Link

Reply from the Daily Bell:

All Jews?

Posted by Steven on 7/19/2010 6:28:41 AM

I loved the article and I like that old guy. Wish there were more of them around. I especially loved the comment about how 'speed' simply makes us too quick at big decisions. Kind of like running past diamonds on the ground while thinking of pennies.

Posted by Soop on 7/19/2010 10:14:02 AM

@Mr Mahler

Many markets have had their bubbles " housing, technology stocks, commodities, japanese stocks. Gold/ silver will eventually expand irrationally as well, in response to the inevitable chaos in the world economy and currency markets. We're not even close, though. Almost no one owns physical gold " I have not one friend who has purchased a gold coin yet " and my circle of friends and colleagues are fairly well educated/ successful. When I mention it to them they look at me perplexed, like I'm speaking in tongues. So, until my friends start to initiate conversations on gold/silver and forecast prices, I'm buying!

Posted by Gary on 7/19/2010 7:32:45 PM

Whats the prognosis on that oil pimple ...

Posted by Roger Knights on 7/19/2010 11:25:24 PM

Harry Schultz wrote: "High tech makes things easier in many ways, but causes more stress, partly because it keeps breaking down. You see this with computer glitches, crashes and viruses. Also, hi-tech goads you into making fast decisions.

"When big corporations must keep a full-time team of techies on-hand to fix computers that fizzle daily, then tech is not, repeat not, working. Private citizens can't afford the cost or the time-loss to keep tech working. For every hour technology saves us, we lose 75-90 minutes. The stress is not measurable.

"Typewriters don't break down, yet we are forced to accept computers that do. Autos no longer break down. The computer nerds only want to sell them (Microsoft, Dell, etc) and promote updates (which cause new problems). They aren't interested in making them as efficient as cars and TVs have become. They've had decades to get it right but have made near zero progress toward reliability."

The Mac is much less of a headache than the PC.

==========

"Most [of my books] are out of print, although second-hand book-stores may have some."

They're all (it looks like) available on Amazon here (I just searched for his name), including many in new condition:
Click to View Link schultz&x=0&y=0&ih=1_3_6_0_1_1_1_0_0_1.27_108&fsc=-1

Posted by Roger Knights on 7/19/2010 11:30:46 PM

Oops. The link above was cut off by this site's software after "Harry" and takes you to books about Harry Potter! Here's a non-problematic link, I hope:

Click to View Link Schultz&field-title=&field-isbn=&field-publisher=&node=&field-p_n_condition-type=&field-feature_browse-bin=&field-binding_browse-bin=&field-subject=&field-language=&field-dateop=&field-datemod=&field-dateyear=&sort=relevanceexprank&Adv-Srch-Books-Submit.x=0&Adv-Srch-Books-Submit.y=0

Posted by Roger Knights on 7/19/2010 11:32:44 PM

Heck, that one didn't work either, although it works when used outside this site. Well, just go to Amazon and type Harry Schultz into the search box.

Posted by Al Sledge on 7/20/2010 1:57:02 AM

Couple of thoughts. Some percentage (majority/minority?) of our "elite" feel the world population must be reduced to about 500 million people in order for the human race to survive. The eugenicists did not die off with the Nazis, but are alive and well in America. The Georgia Guidestones monument is but one frightening example of this thinking. It seems the self deluded "elites" confuse wealth and power with wisdom. Harry Schultz has nothing in common with them other than his wealth as did one of my personal hero's, Harry Browne.

On the "gold" topic, I own a German, silver, 5 Mark coin, dated 1914, that is about the size of a US silver dollar. My understanding is that such a coin would purchase 5 to 10 loaves of bread in the year it was minted. I also own a German, paper, 50 Million Mark note, dated 1924. My understanding is that it took several of these notes to buy a single loaf of bread! While the silver was not an "investment", as "it accrued no interest", it fared far better than paper investments of the day (including the effects of compound interest).

Conversely a US Silver dollar, when traded (sold) for Federal Reserve Notes can be used to purchase 10 loaves of bread today at the supermarket, at about $2 per loaf. Those who say "Huge inflation can't happen here!" are not paying attention. It has been happening since 1971.

Like it or not we really are on a gold standard. The purchasing power of gold is fairly constant despite manipulations. It is the paper currency that varies. If/when the US dollar depreciates at a higher rate there will eventually be a panicked rush to gold and the accelerated dumping of dollars making them worthless over a period of days, not years. An Inflationary Crackup in Austrian terms.