Once again both gold and silver soared in early trading – gold shot past $1,626 and silver climbed well over $41.

July 27, 2011 – Once again both gold and silver soared in early trading – gold shot past $1,626 and silver climbed well over $41. The prices will likely moderate if the recent pattern holds, but something is definitely in the air. Maybe investors sense that something much bigger than default is looming over America.

In the Daily Reckoning Bill Bonner presents a compelling argument that we stand at a crucial fork in the road: Straight ahead lies the end of the American Empire, while the path to the right leads back to the American Republic. While the politicians crack their whips herding us forward the markets urge us to take the other course.

Politics is all about control. In the 19th century our government extended its control westward to the Pacific in the righteous name of manifest destiny. Still not satiated, our government perverted its constitutional duty to protect its citizens to mean “making the world safe for democracy,” thereby extending its influence into every corner of the globe.

“Trouble is,” Bonner says, “politics is expensive and unproductive. The more of it you have – either at home or abroad – the poorer you become… until you can no longer afford it. That’s the situation we’re in now.”

It happened without the slightest debate. Nobody was called on to justify the ruinous course they had set us on. You see, we the people were also drunk on power. We were calling the shots, we liked how it felt, and we were determined to never back down. “In all the many examples of empires,” Bonner says, “none…not one…ever backed up. None ever renounced its imperial destiny. None ever thought better of it.” And none ever survived.

Americans are a proud people and we need a source for our pride, something to believe in. Nowadays, about all we have left is our military. In one way or another every one of our other cherished institutions has stabbed us in the back. So you go along with the imperial agenda, “even when it brings you close to extinction.”

Politics has gone to great lengths to demonize the alternative – the markets. Left to their own devices markets survive by bringing people together in mutually equitable agreement. It is political meddling in the markets – not the markets themselves – that has left a bitter taste in our mouths.

We hold America’s fate in our hands. Although most of those we put in office in 2010 have been swept up in the imperial agenda, “some people in the Tea Party…and even in the Republican Party…see what has happened.” We need many more like them, those who will heed the markets’ warnings and lead America back to greatness.

Shannon King

Senior Staff Writer –

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