House Joint Resolution 192 – HJR 192, Analysis

JOINT RESOLUTION TO SUSPEND THE GOLD STANDARD AND ABROGATE THE GOLD CLAUSE

Note: I can’t tell who decided to call HJR 192 the “joint resolution to suspend the gold standard and abrogate the gold clause.” That line does not appear in the source document.

Full text, checked for consistency against the source document

Sources:
http://www.scribd.com/doc/72416275/HJR-192-Original-1933-06-05
http://picker.uchicago.edu/bailouts/48Stat112.pdf
… and elsewhere. Just search for the first string below this line

73d CONGRESS. SESS. I. CHAPTER 48.
June 5, 1933
H.J.Res. 192
Pub. Res., No. 10

Joint resolution to assure uniform value to the coins and currencies of the United States.

Whereas the holding of or dealing in gold affect the public interest, and are therefore subject to proper regulation and restriction; and
Whereas the existing emergency has disclosed that provisions of obligations which purport to give the obligee a right to require payment in gold or a particular kind of coin or currency of the United States, or in an amount of money of the United States measured thereby, obstruct the power of the Congress to regulate the value of money of the United States, and are inconsistent with the declared policy of the Congress to maintain at all times the equal power of every dollar, coined or issued by the United States, in the markets and in payment of debts. Now, therefore, be it
Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) every provision contained in or made with respect to any obligation which purports to give the obligee a right to require payment in gold or a particular kind of coin or currency, or in an amount of money of the United States measured thereby, is declared to be against public policy; and no such provision shall be contained in or made with respect to any obligation hereafter incurred. Every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at the time of payment is legal tender for public and private debts. Any such provision contained in any law authorizing obligations to be issued by or under authority of the United States, is hereby repealed, but the repeal of any such provision shall not invalidate any other provision or authority contained in such law.
(b) As used in this resolution, the term “obligation” means an obligation (including every obligation of and to the United States, excepting currency) payable in money of the United States; and the term “coin or currency” means coin or currency of the United States, including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations.
SEC. 2. The last sentence of paragraph (1) of subsection (b) of section 43 of the Act entitled “An Act to relieve the existing national economic emergency by increasing agricultural purchasing power, to raise revenue for extraordinary expenses incurred by reason of such emergency, to provide emergency relief with respect to agricultural indebtedness, to provide for the orderly liquidation of joint-stock land banks, and for other purposes”, approved May 12, 1933, is amended to read as follows:
“All coins and currencies of the United States (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations) heretofore or hereafter coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues, except that gold coins, when below the standard weight and limit of tolerance provided by law for the single piece, shall be legal tender only at valuation in proportion to their actual weight.”
Approved, June 5, 1933, 4:40 p.m.

Analysis

Followers of the Redemption Movement frequently look to HJR 192 as proof of both the bankruptcy of the United States and the end of all debt obligations…

Yet no one is able to point out proof of this alleged bankruptcy.

One may look to the Emergency Banking Relief Act (aka Emergency Banking Act – Wikipedia main article) and Executive Order 6102 (Wikipedia main article). Those would certainly be of interest to any goldbug. Goldbugs are likely intimately familiar with the Gold Clause Cases (Wikipedia main article). However, it would take considerable distortion of the truth in order to paint these actions as indicative of the bankruptcy of the United States.

Truth Sets Us Free, a web resource which claims “[dedication] to liberating Americans through education”, has the following arguments to make from HJR 192:

“no one in America has been able to lawfully pay a debt”

They quote with specificity:

“payment of debt” is now against Congressional and “public policy” and henceforth, “Every obligation … Shall be discharged.”

Source: http://www.truthsetsusfree.com/HJR192.htm

The first argument is entirely false. HJR 192 specifically states that debt obligations “shall be discharged upon payment, dollar for dollar, in any coin or currency which at time of payment is legal tender for public and private debts.” Last I checked, Redemptionists were just as interested in US dollars as everyone else (or Canadian dollars, or Australian dollars… the Redemption Movement has gone global). Sure, some are just coming to grips with the reality of debt, but that hardly changes the fact that US dollars are legal tender.

Their second argument also falls flat once the reader goes back to the source material. I quote here from the first paragraph of HJR 192, immediately preceding the preamble:

every provision contained in or made with respect to any obligation which purports to give the obligee a right to require payment in gold or a particular kind of coin or currency, or in an amount of money of the United States measured thereby, is declared to be against public policy; and no such provision shall be contained in or made with respect to any obligation hereafter incurred. Every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at the time of payment is legal tender for public and private debts

Payment of debt is not against public policy: rather, it is the requirement that debt be repaid in gold or a particular kind of coin or currency other than that which is legal tender. This is the whole point of HJR 192 in a nutshell. The preamble makes the rationale behind this resolution abundantly clear:

provisions of obligations which purport to give the obligee a right to require payment in gold or a particular kind of coin or currency of the United States, or in an amount of money of the United States measured thereby, obstruct the power of the Congress to regulate the value of money of the United States, and are inconsistent with the declared policy of the Congress to maintain at all times the equal power of every dollar, coined or issued by the United States, in the markets and in payment of debts

Congress wishes to have control over monetary policy. Maintaining the gold standard made this vastly more difficult, as it would have required physical gold to back the creation of every new dollar. Don’t worry, though: all money is fiat money.

HJR 192 does not give individuals license to discharge their debts by drafting bogus negotiable instruments. HJR 192 does not state that the government will wipe away all debt obligations if you ask it nicely. Ultimately, we are held responsible for the consequences that arise from our actions.

Further Reading

http://freedom-school.com/lewis-mohr/hjr-192-and-its-legal-effect.html – emails from Larry Becraft discussing HJR 192 and its status, hosted on a site that collects Redemption materials (and actually believes this stuff)

Want: Bang & Olufsen BeoPlay H6

I was down at the Apple Store yesterday morning to see about the iPhone 6 Plus (more on that, later)

They had the usual spread of headphones available to demo: your Beats, Bose, and Bowers & Wilkins. Then my eyes caught sight of something I hadn’t seen before.

The distinctive B&O lettering begged a closer look at this pair

b&o beoplay h6 cup

I put them on after an approving nod at their generous use of leather throughout

b&o beoplay h6 leather

b&o beoplay h6 leather detail

Bang and Olufsen apparently takes the leather treatment very seriously

The solid cowhide leather on the headphones comes from New Zealand where the cows roam in controlled pastures. Only the highest quality hides are selected. Each leather product is completely natural and the leather is dyed with a tanning process that provides colours in rich and warm tones.

The B&O BeoPlay H6 feature memory foam around-ear cups dressed in lambskin. They were quite comfortable to wear, and the closed-back design provided welcome isolation from the din of new Mac owners and Apple geniuses to my immediate left.

My listening was limited to the music that was preloaded onto the iPod Touch in front of me. I found “Starlight” by Muse and “Bad Blood” by Bastille. The sound signature of the H6 was refreshing – it doesn’t have the boosted bass featured in many of today’s fashion headphones.

I walked away from the Apple Store to attend to other errands, but made a note to investigate the BeoPlay H6 further. They certainly made a good first impression.

User reviews on Amazon.com as well as Head-Fi.org are generally positive. Users laud the H6 for its comfortable fit and great sound. I especially enjoyed reading KimBongUn420’s detailed review of the BeoPlay H6 on Amazon.com:

I am not exaggerating when I say that I have NEVER heard a closed-back headphone with a soundstage that was as expansive and encompassing as the stage produced by the H6. Nothing else I have listened to even comes close. It is incredibly accurate and fully convincing. There are many high-end open back headphones that cannot reproduce the soundstage that the H6 does; I would put it at least on par with the Beyer DT990. The P5 attempts to match the soundstage, and the P7 comes a bit closer, but there’s still a rather large gap between the stage that the P7 can produce and the one that the H6 reproduces so brilliantly.

The H6 is a very flat, neutral headphone; there are no noticeable frequency spikes and the mid and treble is evenly reproduced along the frequency spectrum. They are precise and accurately reproduce music. If you are looking for a headphone with “character” in the sound then I suggest looking elsewhere, but if you are looking for precise, true sound, the H6 excels. Trebles are beautiful, but not overly bright, and the mid is powerful and evenly distributed. I have often had the experience of re-listening to songs in my library several times because the H6 draws out tones or sounds in the song that I have not been able to hear with other headphones. It truly sounds like you have a front-row seat for the artist with every single genre. I’ve thrown classical (which is simply incredible on the H6), jazz, rock, soul, EDM, pop, and many more genres at the H6 and it has been able to faithfully reproduce every instrument, voice, and sound.

If high-fidelity reproduction of the source is important to you, the BeoPlay H6 warrant your consideration. I’d love to run an A/B test of these headphones against my Sennheiser HD 650.

B&O BeoPlay H6 Technical Specifications

40 mm custom designed drivers with a neodymium magnet in a closed headphone design
Frequency Response: 20 Hz to 22,000 kHz
Impedance: 30 ohms
Other Features: Foldable, With Remote and Mic, Sound Isolating
Form Factor: Over Ear
Cable Length: 4.1 ft./1.25 m

I could only find one source offering a frequency response curve of the B&O BeoPlay H6 (InnerFidelity)

Note on the remote: the three-button remote on the BeoPlay H6 is designed to work with Apple devices. Extended functionality won’t work with Android phones.

The B&O BeoPlay H6 are offered in natural brown and black leather, as well as several Special Edition colors. From left to right: Blue Stone, Graphite Blush, and Bronzed Hazel.

b&o beoplay h6 special editions

The B&O BeoPlay H6 list at $399 and are available to purchase direct from Bang and Olufsen and Amazon.com

Links to Amazon.com for all current color offerings of the BeoPlay H6:

BeoPlay H6 Black
BeoPlay H6 Natural Leather
BeoPlay H6 Blue Stone
BeoPlay H6 Graphite Blush
BeoPlay H6 Bronzed Hazel

Rich People Just Care Less: Therefore, Care Less and You Will Be Rich

Today’s random musing comes courtesy of some recently disappeared Facebook friends, interactions with former acquaintances, and observation of human behavior gleaned from my travels to date.

I recently revisited an editorial from The New York Times, one my mom shared with me a year ago, entitled “Rich People Just Care Less” (Daniel Goleman, The New York Times). She’s an avid consumer of the news, so this editorial made its way to my inbox two days after it appeared online.

Daniel Goleman, author of the piece, is a psychologist and a writer. And like any good scientist and communicator, he draws upon research from his field.

A growing body of recent research shows that people with the most social power pay scant attention to those with little such power. This tuning out has been observed, for instance, with strangers in a mere five-minute get-acquainted session, where the more powerful person shows fewer signals of paying attention, like nodding or laughing. Higher-status people are also more likely to express disregard, through facial expressions, and are more likely to take over the conversation and interrupt or look past the other speaker.

A combination of both aloof and aggressive behaviors

The financial difference ends up creating a behavioral difference. Poor people are better attuned to interpersonal relations — with those of the same strata, and the more powerful — than the rich are, because they have to be.

While Mr. Keltner’s research finds that the poor, compared with the wealthy, have keenly attuned interpersonal attention in all directions, in general, those with the most power in society seem to pay particularly little attention to those with the least power. To be sure, high-status people do attend to those of equal rank — but not as well as those low of status do.

These findings are scarcely surprising. Goleman draws upon the research in order to highlight its effects in public policy. While this is interesting in its own peculiar way, I am fascinated by how behavioral differences in interpersonal communication play out on a much smaller level.

I want to start by sharing a quote that I hold dear:

You can easily judge the character of a man by how he treats those who can do nothing for him – Malcolm Forbes

To anyone who knows me, it is hardly news that I have not been employed in my field since I graduated from the University of Tulsa. The couple of jobs that I have held since leaving school have been tremendous for my personal growth and development, but I have few external trappings to show for it. I know what I am: a poor, unemployable man. If not for the continued patience of my parents, I would not have had the luxury of observing those around me to such an extent. I hope that they can understand how immensely grateful I am for their contribution in shaping my past and present direction.

The situations that led to where I am today are known to few, but I have taken strides to publicize them for anyone who is willing to read. I’ve invited great troubles upon myself by making foolish decisions at the workplace, often motivated by drugs or women. To that end, I took great pains in consolidating the facts surrounding my long-term relationships to date. I publicized each release with a Facebook post. The first release was made on August 1st, 2014. Since that time, I have lost no fewer than 13 friends. This averages out to just over one friend a week.

I expected that this thinning of the crowd would happen. Truthfully, I am glad that it has taken place. What it represents is a graceless about-turn on the part of individuals with whom there is nothing to talk about. What little value there was in keeping them around is long gone. This is accentuated by the fact that I have received zero feedback from those individuals. Be that as it may, I hold zero resentment toward these individuals – rest assured I won’t spend any time trying to find out who they were.

On to current news: I have observed a great many people who have taken scientific research and gotten it backwards.

Remember that correlation does not imply causation.

One of my guilty pleasures is reading relationship advice. Any young man who ventures into the realm of men’s relationship advice will find a litany of complaints and success stories alike from other men, all reading: “Women love assholes.” Some go so far as to suggest that, in order to have greater success with women, the hopeless romantic should behave like an asshole. Because women love assholes, you should behave like an asshole, and you will quickly find yourself swimming in a sea of opportunity.

The young man who applies this advice might find that there is a remarkable change in how others perceive him. Chances are that he was nice, bordering on being a pushover before he effected this change. However, those who know him well will see through it. The most astute among them know that there has been no change in circumstance, and that this new face is merely a bid at gaining higher perceived value. The strategy may work on certain women, but it is unlikely to win the hearts of those of any worth beyond the one night stand.

The same young man comes back within a few months or a few years and declares, “I’ve now confidently bedded so-and-so many women, and I find them all to be the same! None of them are worth a damn thing!” At this point, commenters divide themselves into two highly visible camps. The one echoes the thoughts of the returned young man, saying, “Amen, brother!” while the other calls out, “What value can you offer? Why should a woman of any worth go with you over someone else?”

In actuality, this type of discussion can be found everyday in every corner of the manosphere, and it all comes back to a misunderstanding of observed results. If one’s only goal was to achieve some measure of success with women, then the advice works. Those that know better have taken it a step further by deconstructing the true constituents of perceived and real value. In relationships, it’s been said that a man will do well to:

  • Establish boundaries
  • Respect others and to expect respect in return
  • Avoid making himself too available to his prospects
  • Engage himself in the pursuit of an enjoyable hobby, beyond mindless pastimes
  • Cultivate a strong image
  • Gain worldly experience
  • Keep company with others who are striving to make it

What they have understood is that being an asshole can only take a man so far. The asshole has few truly desirable traits, but the word is used liberally in order to persuade the too-nice to stop being doormats. To actively embrace being an asshole is to throw away innumerable prospects for the sake of a short-term reward.

The same is true in business and in acquiring wealth. There are some people who will do business with anyone, regardless of character. One can be a dickcheese and still become wealthy in spite of it. However, there are countless others who expect more than just a warm body. They will work only with those who possess a strong character.

What about those self-promoting pricks who don’t help anyone else? Well, what about them? One must practice self-promotion where appropriate, else opportunities will go to someone else. And one cannot neglect one’s proper duties in the name of expanding one’s responsibility.

To be sure, even individuals of strong character can be mistaken for assholes, but you ought to know the difference for yourself by now.