My Thanks To David Frum
posted Feb 24, 2004 at 12:18AM
As a fellow Canadian it was a great pleasure to see the famous right-wing intellectual David Frum highlighted so prominently on CNN's coverage of the upcoming State of the Union Address. Indeed I have been wanting to write a letter of thanks to Mr. David Frum for quite some time.
Specifically I would like to thank him for that stroke of genius with which he created the term, "Axis of Evil". I thought it grossly unfair that he got canned for claiming ownership of that phrase, as if anyone believed that George Bush Jr. could actually write, much less create, an original slogan.
My thanks are offered due to the fact that at the time, my retirement portfolio was 100% invested in gold stocks; a decision made a year earlier, and based upon the knowledge that right wing Republicans have not balanced a set of government books since the Jurassic Era.
But David Frum's speech was the real catalyst. The entire State of the Union that year could be condensed into a single sentence..."MONEY SHALL BE WASTED LIKE IT HAS NEVER BEEN WASTED BEFORE!"
You could literally hear the Forex traders climbing into thier parachutes and bailing out of the greenback. A weekly chart of the US dollar from the date of that speech tells you everything you need to know about the confidence the world has in America's script, and by default, it's current management
For those of us in gold stocks at the time, it was manna from heaven, as we watched our portfolios quadruple within months and continue to trend higher for the next two years.
So thanks are due, and perhaps a comment on the vagaries and ironies of real life.
As most people should know, Mr. David Frum, a highly regarded neo-conservative apoligist working for the failing National Post, is, of course, the son of the famous Barbara Frum. Barbara Frum was an all-star left-winger who hosted "As it Happens" on the Canadian Broadcasting Corporation , and whose socialist credentials were all but stamped by the Politburo.
It is not just a little eerie to think that despite all my readings of derivative monsters and account deficits, that my retirement portfolio owes much of it's health to a middle aged man's ongoing efforts to cut himself free from Mommy's Apron Strings.
Life is strange isn't it?