Dependence Day Is Nothing to Celebrate – Ep. 368
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 3 July 2018
⏱️ 50 minutes
🧾️ Download transcript
Summary
The U.S. stock market closed early today, ahead of tomorrow's Fourth of July holiday when the markets are of course closed and Americans are out celebrating Independence Day, the birth of the nation, July 4, 1776. I love the Fourth of July as a holiday; it is purely American.
Framers of the Constitution Risked it All
One of the problems I have with the Fourth of July is that it makes me feel both good and bad about what happened on July 4, 1776. I am honored to have been born in a nation that was conceived in liberty and I think about the sacrifices made by the people who signed their names beneath John Hancock's name to that document. These men risked it all to put their names on the Declaration of Independence, committing treason against the British government. If we had lost that war, the King would have killed our founding fathers, as traitors.
The American Experience is Unique and Privileged
So you think back on the accomplishments and the sacrifices that were made and the incredible republic that our founders created. I'm proud that, but at the same time, I'm sad that it has all been lost. We no longer have the nation that our founders created for us. We have lost all that it means to be an American. It used to be so special to be American, based on the type of nation that we were, and the type of individuals that Americans were; what it meant to be an American, how unique and privileged it was.
The Role of Government in America
And today, even though the American economy is regarded as at the top, a lot of that is a function of debt and it's all an illusion. The difference between an American and any European these days is not nearly as great as it was. If you have never read the Declaration of Independence, and I am sure most of you probably had at some point, you might want to take another look at it, and give the entire document a read. I am going to read just a part of the second paragraph, because this is the most important aspect to understand the essence of what America is supposed to be, and what the American government is supposed to do. This is important because there are all these Socialists out there who want to re-define America - Democratic Socialism. This paragraph helps you understand the role of government in America.
We Hold These Truths to Be Self-Evident
Governments can have different roles in different countries, but in America, there is a certain role that government is supposed to have. It had it for a long time, but it no longer fills that role:
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, —
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Transcript
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| 0:00.0 | The Peter Schiff Show. |
| 0:08.7 | The US stock market closed early today ahead of tomorrow's 4th of July holiday when the |
| 0:15.3 | markets are of course closed and Americans are out celebrating Independence Day, the birth |
| 0:21.4 | of the nation July 4th, 1776. |
| 0:25.6 | I love the 4th of July as a holiday, it is something that is a American holiday. |
| 0:33.2 | Obviously other countries have similar dates to commemorate the birth of their nation |
| 0:38.4 | or their independence or Canadian neighbors to the north. |
| 0:41.8 | They just celebrated Canada Day on Monday but it's different from other holidays where |
| 0:48.0 | the whole world is celebrating at the same time, whether you have New Year's Day or |
| 0:52.7 | their celebrating Christmas or Easter, religious holidays that everybody shares. |
| 0:58.3 | It's an American holiday like Thanksgiving which is another reason that I like that holiday |
| 1:03.9 | because again it's something that really celebrates part of the American experience. |
| 1:08.6 | But one of the things or the problems I have with the 4th of July is not only does it |
| 1:14.7 | make me feel good about what happened back in July 4th of 1776 and am I out of the |
| 1:22.6 | honor to have been born in the nation that was conceived in liberty and I feel you go |
| 1:30.2 | back and you think about the sacrifices that were made by the people that signed on beneath |
| 1:36.0 | John Hancock's name to that document where they risk their lives and their fortunes. |
| 1:42.2 | These were wealthy men having a good life and that was treason to put your name on the |
| 1:48.6 | declaration of independence. |
| 1:50.2 | We had lost that war, right? |
| 1:52.6 | The king would have killed all the founding fathers as being traders. |
| 1:58.5 | So you think back at what was accomplished and the sacrifices that were made and the incredible |
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