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Show August 11, 1972 Government vs. Gold determination to balance the budget? Well, that went out the Continued from Page 8 - gold? A however rnational problem. - the economy the alternative a inflation which being runaway would destroy the country. But I now understand that mans free will precludes any inevitability. The leaders of our country will either choose a course of bringing inflation under control, or they will choose a policy of inflation. In the first case the rational men in the society will benefit; in the second case the irrational will gain. This is where most of the good men of our society are in error. They believe that the rational policies are inevitable. They talk about the coming devaluation as though it bad to come. But if the president is going to successfully pursue an inflationary but it necessary that they be rational? Just how rational have they been in the past? When I believed that a rise in the price of gold was inevitable, I sat back and awaited it. Now that I understand that nothing in the sphere of human action is inevitable, that in the sphere of human action the concept of inevitable is is window after the 1970 elections. The point is, there must always come a crisis; steps are always painful. There must always come a time when not applicable but that the the Federal Reserve Board and concept of rational is, I have the administration must choose decided to fight for the rational between the rational course of policy. In doing so I am fighting I cannot for my continuing to fight inflation and the irrational one of returning for succeed in the world of 1968 so I another round of stimulation. In must fight for the kind of world in which I can succeed. In this my experience they have always chosen the latter. fight I ask you to join me. In my experience the most The plan of action is as rational people, expecting the follows: I wish to encourage the rational policy, have been the formation of small groups around losers while the irrational people, policy, he will have to the country dedicated to the and conin demonetize dealing wheeling gold. Of course it reestablishment of the gold glomerates and computer leasors would not be rational for other standard. Each group will work have prospered. (How do you sell countries to allow him to do this, within its community and its a man on a computer leasing company when the existence of the entire industry group depends on an accounting trick? It requires a gread deal of evasion). Of course the conglomerates and the computor leasors failed. There was a return to reality in 1969 and 1970. But this was not Six models to choose from due to any ultimate necessity. In Priced from $69.95 to $140 1969 the Nixon administration 346 So. State State Hardware adopted an Salt Lake City, Utah policy. As a result of this the Plenty of parking in rear irrationality reaped its due. The society was moving in the the ultimate in fine... direction of more rationality (temporarily), and the rational BEAUTIFUL WEDDING CANDIES CREATED ESPECIALLY FOR YOU. prospered while the irrational FABULOUS BUTTER ROASTED lost. NUTS. PARTY CANDIES I used to believe that a return floating currency, SEND FOR ILLUSTRATED BROCHURE damaging to inte- to reason was inevitable and that, trade, solves that given the excesses of the past, this Phon And the Republicans would lead to an increase in the the most wealth. It is true that ai irrational society will ultimately destroy itself in the long run. But until it does, within it the irrational prosper at the expense of the rational. I used to believe that there were hard and firm barriers against inflation. It was well established back in 1966 that the Federal Reserve Board would stop stimulating the economy if inflation increased to a rate of 3 per year (except in the case of a major war). It was known back in 1966 that if the gold supply dropped to below 25 of Federal Reserve Notes, the Fed would have to stop expanding the money supply. It was known back in 1966 that, if the Republicans came into power, they would run balanced budgets and end inflation. And anyway, if none of these things happened, then the foreign run on our gold supply would force a return to sound policies. Where are these barriers now? Broken like reeds in the wind. The 25 gold requirement? It was repealed in 1968 by a margin of 2 votes in the Senate. The Feds determination to fight inflation? It was not as strong as its fear of a bond market crisis in 1966 or of a collapse of the commercial paper market in 1970. Foreign demand for our 2-- price of gold and a depression in The UTAH INDEPENDENT anti-inflationa- ry ever-increasi- ng self-intere- st. 10 SPEED IB I anti-inflationa- I CY 355-378- 3 ry CHOCOLATES G Kay Cummings 9A.M. TO 6:30 P.M. DAILY fine candies CLOSED SUNDAY 12 Mo. or 12,000 AUTO-RECO- N 1959 So. 1100 E. AUTO-RECO- N 441 So. West Temple 2Vf Mk. So. of Salt Pataca) The Great Conspiracy is the title of a new revealing book based on information from 24 other patriotic publications. The Great Conspiracy , by Richard T. Osborne, exposes the plot to hurl the world into an all-oWorld War III. The author explains how', why, and when World War III will come. To receive a copy of The Great Conspiracy send name ut address and $2.00 to: AMERICAN DISTRIBUTORS Lake Box 11352 City, Utah responsibility for its own actions.) For those who do not wish to work for the gold standard but are interested in subscribing to our literature, we are happy to have you. However, while we are willing to donate our labor to those who donate theirs, we require recompense from those who merely wish to read our literature. The cost for an affiliate is merely to cover mailing and expenses. The cost for a subscriber includes labor. (Membership for working Committee member is $4.00 per year. Monthly literature for members, $8.00 yearly.) non-worki- ng "Mi. 84111 CommitteeTo Establish TheGold Standard Howard A. Katz 85 Fourth Avenue, Suite 6M New York, N.Y. 10003 American Service For the very best int Warranty COMPLETE REPAIRS NEW & USED PARTS OPEN SATURDAYS At prices you can afford Salt state to educate people as to why the gold standard is best. The Committee to Reestablish the Gold Standard will act as a central coordinator for these groups and will mail them literature once a month. We will provide information both as to the virtues of the gold standard and as to the best way to educate people. Such groups can range from a single person up to a dozen or so and will be independent entities, not parts of CRGS but affiliated with it. (In this way no group can be held responsible for what any other group does. Each group retains its own identity and . 4871031 P.0. 9 Page - See Lawrence 364-96- 89 "ELECTRICAL SERVICE Residential Commercial "ELECTRONIC SERVICE Color f.V. Audio Systems 1032 South State Orem, Utah 225-834- 4' |