A New California Gold Rush?

Record Rains Re-opened Its Veins of Gold!

California’s 2017 record rains nearly washed away the state’s tallest dam, threatening 200,000 people downstream near this place that 163 years ago was named Oroville. “Oro” is Spanish for gold.

Prospectors rushed here from all over the world following news of the 1849 huge gold strike in northern California, soon to become America’s Golden State.

This year’s heavy rains ended the state’s long drought, and they also opened millions of veins of gold that the ’49ers never found.

LowellGOldPR-big

Hopeful get-rich-quick people should be headed to California again, now that the streams are awash with flakes and nuggets of gold for the taking.

What seems surprising is that so few have grabbed this opportunity.

The California Gold Rush symbolized the spirit and energy that caused exceptional people to move to America, and then to move west to pan for gold and settle the frontier. Are we losing that adventurous, hopeful spirit?

“[R]estlessness, ambition, and innovation” have been key American traits, qualities that once made us great, writes George Mason University economist Tyler Cowen in his new book The Complacent Class.

“But today Americans are working harder than ever to avoid change,” says Cowen. We are less inclined to pull up stakes and move, less likely to start a business…and increasingly focused on minimizing exposure to new, challenging, or difficult experiences.

“The descendants of immigrants and pioneers,” writes demographer Michael Barone, “are increasingly content to just stay put.” And without this restless drive to go forward, the passion needed to make America great again and find success on new frontiers is gone. The American Dream is vanishing.

So millions refuse to lift a finger to gather gold in California. And, likewise, many refuse even to buy gold, Mother Nature’s own natural money from the Earth, at today’s low prices. They prefer to wait for President Donald Trump to bring them security.

But any economist could tell them that this is unwise. If Mr. Trump’s policies succeed, America may soon move toward a new gold standard currency; this would push the price of gold up to $5,000 an ounce or more – and those who diversity by using a fraction of their savings to buy gold today will become very successful.

But Mr. Trump might fail. He turns 71 this year and could be struck down by health problems or, God forbid, a rabid attacker whose hatred has been stoked to explosive levels by the anti-Trump media. Mr. Trump’s revolution depends on his unique charisma and bond with the people. If he is lost, who can replace him and lead his revolution to success?

If the Trump Revolution fails and the Big Government Party again takes power, taxes will skyrocket. The unbacked paper dollar and economy will tank. And only those with gold will be able to ride out the storm.

Those with gold will be the “saving remnant” of America, the remnant whose savings in hard, honest money will save their family, help their neighbors, and make their nation more stable and secure. Enough of them could even help make America great again.

Either way, whether President Trump succeeds or fails, diversifying with gold looks like a smart decision….whether you pan for it in California or buy it now. Americans used to succeed because they made decisions. Can they still do it?


For a fascinating interview with Californian Lowell Ponte, contact: Sandy Frazier sandy@mystic-art.com 516-735-5468.

For a media copy of Craig R. Smith and Lowell Ponte’s latest book, Money, Morality & The Machine: Smith’s Law in an Unethical, Over-Governed Age, contact: David Bradshaw, ideaman@myideafactory.net 602-918-3296.


Sources:

Joe Vazquez, “Storm Runoff in California Gold Country Exposing New Motherlode?” KCBS, San Francisco, February 27, 2017. URL: http://sanfrancisco.cbslocal.com/2017/02/27/storm-runoff-in-california-gold-country-exposing-new-motherlode/

Ada Carr, “California Storm Runoff Could Trigger Modern-Day Gold Rush, Mining Experts Say,” Weather Channel, March 9, 2017. URL: https://weather.com/news/news/california-flooding-new-gold-rush-mining

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