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I'm dreaming of…"Debts"
Posted By Kurt Schuler On December 21, 2012 @ 11:39 pm In Fiat Money,Money & Politics,The Fed & Central Banks | 4 Comments
Irving Berlin, most commonly remembered around this time of year as the songwriter of "White Christmas," also wrote a song called "Debts" (alternate title: "We'll All Be in Heaven When the Dollar Goes to Hell"). He apparently wrote it in 1933. I was not aware of it until earlier this month. Sample lyrics:
Here's some news that you ought to know
Off the gold standard we must go
Like England and Italy and Germany and France
We are going to inflate
And we're very glad to state:
Let the pound go up, the franc go up, the mark go up as well
Uncle Sam will be in Heaven when the dollar goes to Hell
Bonus points to anyone who posts a link to a performance in the comments. All I found were the lyrics.
And if you get tired of listening to "White Christmas" and other cheery songs of the season, sober right up with Intervention and Misery: 1929-2008, whose message is right on the front cover: "How governments and central banks ruined the world and why the worst is still to come." My own view is more optimistic. There's a lot of ruin in a nation, and still more in a world. Still, an occasional dose of pessimism is invigorating. Perpetual optimism is as dull as perpetual "Blue Skies."
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