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The Peter Schiff Show Podcast

Dependence Day. Americans Celebrate Free Stuff, Not Freedom – Ep. 264

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 6 July 2017

⏱️ 27 minutes

🧾️ Download transcript

Summary

Summary
Independence Day is a great American holiday, but it fills me with joy and sadness. I love to commemorate what America was, and the whole idea of what made America different. Once we declared our independence in 1776 the people created a government. We the people had all the power and we surrendered some of our power to form a limited government. The government was a creation of the people and they ceded some power to the government. This was unique. As a result of this limited government, this uniquely American way of life, America prospered and created the wealthiest country in the history or the world. So we celebrate the beginning of this experiment in freedom and limited government. Benjamin Franklin famously responded to the question, "What have you given us, Mr. Franklin?": "A republic, if you can keep it." We have become what the founding fathers feared most, a democracy. Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

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0:00.0

I hope everybody enjoyed their elongated Fourth of July holiday weekend.

0:14.8

We had some beautiful weather here in New England.

0:17.6

And you know, the Fourth of July, I always have a lot of mixed emotions on that holiday.

0:22.1

I mean, it is a great American holiday.

0:26.4

But you know, it fills me with joy and sadness at the same time because I really like commemorating

0:33.9

what America was and the whole idea of what independent stood for and what made America

0:41.4

different because being an American was really different than being a German or being French

0:48.4

or being Italian.

0:49.8

I mean, not that there's anything wrong with living in any of those countries.

0:54.3

And I don't blame people for being patriotic about those countries.

0:58.6

But being an American was very different because all these other countries throughout the

1:03.4

world, you know, they all basically, they were ruled by kings and they gradually were able

1:10.5

to get some of their rights, right, from the crown.

1:14.4

The crown surrendered some rights to the subjects.

1:18.2

And so everything basically flowed from the top up.

1:22.5

But America was a different story.

1:24.1

I mean, once we declared our independence, and you know, interestingly enough, I just

1:28.9

read a survey that said only, I think only 75% of the adults who were surveyed knew from

1:37.0

which country America won its independence.

1:41.1

And I think even a smaller percentage, I think 70% or one third rather didn't know what

1:48.5

year America won that independence from.

1:52.0

You know, I wonder if the people who didn't know the year that America won its independence

...

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