T BOONE Pickens (the T stands for “Lucky”) is a rich man who runs “commercials”(?) on TV advocating wind power. Even if I agree with him, I do not then know what to do. Am I supposed to go out, (to Kansas?) and buy some wind-powered electricity, and bring it home? However, for purposes of this commentary, let me assume that his intentions are good.
However,
his reasoning is not.
Pickens
“warns” us that the USA’s dependency upon foreign oil sources is a bad
thing. He calls it a great (maybe
even the greatest) “transfer of wealth” (from us to them). That is, we in the USA give those Arabs
and Canadians lots of our money.
And we get back, only, oil.
And this is terrible, according to Pickens, and should be stopped. Our money should be kept here.
Allow
me to interject some intelligence here.
When we buy the oil we send these oil producers our money. This money, unless we pay in coin,
consists of a whole lot of small pieces of paper, upon which are nicely
executed portraits of dead White Protestant Freemasons. This is all our money is. The ONLY reason why it has any value is
that others are willing to accept it as having value. This is called “fiat money.” This is because it could be used to buy a Fiat
automobile.
Needless
to say, any time “we” (the USA) needs more money, we can print it. It is like when you play “Monopoly,”
and you run out of game money. You
simply write up some more on any piece of paper. The players accept it and the game goes on. So what is happening is this. The oil producers are accepting pieces
of paper, and we are getting a commodity of great, great value. And Pickens is objecting to this
exchange. He wants us to keep
these pieces of paper, and not get the oil. How do we run cars on paper? I only hope and pray that no one else notices how we are
swindling the world.
By
the way, in case you have not noticed, here is another reason why he is
wrong. By buying oil from foreign
sources the USA preserves its own oil reserves. Each gallon pumped by Arabia makes it poorer, in terms of a
valuable thing, and less able to “influence” US policy in the future.
If Pickens is so rich, then why is he not smart?
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