“Ranting” Andy Hoffman of Miles Franklin joins us for our Monday get together, fresh with news that YPF, a large Argentine Oil Company, partly owned by Spanish Oil Company Respol, was nationalized by the Argentine Government. Sounds like a trade war to us. But this underscores the point that no paper wealth is safe from the clutches of government. It doesn’t matter what country’s government we are talking about. Eventually, when there’s an existential threat to its continued survival, no man’s life, liberty, or property is safe.
We’re truly talking man versus state. And whether there’s a socialist slant to the argument, is really irrelevant. Government is the destroyer of wealth, freedom, and the individual. What we are seeing now is simply a trend that has been forming for many years. The battle of the individual and his primacy over the state has been going on since man realized that some form of government was necessary to help ensure survival. Unfortunately, like all other man-made creations, what starts out as an asset, transforms into a liability. In this instance one that threatens everyone’s survival.
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