"The American System" Explained

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We interrupt this program….

While I usually stick to topics around public health and science in The Renegade Report, today I’m taking a brief detour…

The subject of tariffs is front and center in global conversations right now, and of course, much of what is reported by mainstream media is pure B.S. and smoke-and-mirrors. Because many don’t “like” the guy executing.

Tribalism and emotions getting in the way of logic and facts yet again (yawn).

Personally, I’m not a big Trump fan. I publicly advocated for two other Candidates in the 2024 election (a Republican candidate and an Independent candidate). Plus, I don’t think anyone over the age of 75 should be President.

I think President Trump over shoots on certain issues. But most Presidents do. And he may be over shooting here with the tariff approach.

Or, he may not be.

Only the math and the data will tell, in time.

But unlike some, I certainly don’t want to see any US President fail with any policy decisions. It says a lot about a person who’s resentment, envy and hate run so deep (the pillars of Marxism), that they want to see a President or their country fail.

We ARE seeing this.

But here’s what’s not debatable: America has been getting hammered by unfair tariffs for decades. There is not a law maker from either party who is NOT on record admitting this. Its comical to go back and watch some of their speeches. And no one, from either party, had the guts to do anything about it. Until now.

Personally, I would have taken more of a surgical approach versus a blanket approach, like Trump seems to be doing. But that’s my gut feeling. This is not my area of expertise.

I can tell you this though…

Almost none of the tariff “experts” have any idea what they’re talking about and they have ZERO context. As usual. What’s missing from the conversation is actual historical perspective. As usual. Most “experts” have none. Just like the medical “experts” I expose in this publication, as America now leads the world in chronic disease and obesity yet spends more on healthcare than any other country in the world, yet ranks DEAD LAST in health outcomes among developed nations.

The “experts.”

Different topic, same problem.

If you’ve been a reader for awhile, or read the ABOUT section of this publication you know I’ve assembled a world-class team of functional medicine doctors — many whom I work with personally — along with health and fitness subject matter experts, independent researchers and I’m affiliated with world class organizations such as, the Institute of Functional Medicine (IFM), the Association of American Physicians & Surgeons (AAPS), the International Society of Sports Nutrition (ISSN) and the World Council For Health (WCH).

Over the past couple of decades, I’ve also built a nice little financial team — one that’s been instrumental in shaping my perspective on money, markets, and politics. Not to mention, I also spent close to two decades in the investment banking and financial education industry and I’ve spoken on stage with some of the top financial minds of our time — Mike Maloney, G. Edward Griffin and Peter Schiff, to name a few.

It’s not as extensive as the team I’ve assembled for The Renegade Report, but it holds its own!

Thanks to one of my top financial advisors and a terrific author of multiple books on finance, economics and geo-politics, I’m sharing some valuable insight and historical perspective on tariffs to give you a balanced view and I thought this was the perfect place to do it. I think it will help cut through the noise, ease some of the panic, and offer a much more honest view than what you’re getting from the mainstream media.

The mainstream media is very dishonest today. And their trust and favorability ratings are now at an all-time low.

So few look to history any more. Yet, it’s where most answers can be found. Many are walking, talking, emotional, 2-minute regurgitated mainstream media sound bites these days…

If thats you, take a chill pill. Get the facts. Analyze all sides and assess for yourself. Lose the emotion and the Trump Derangement Syndrome. It clouds judgement. And it makes you look unstable and unintelligent.

This is Jim Rickards, one of my top, go-to Financial Advisors for many years now. Jim is a lawyer, economist, investment banker, and author with over 35 years of experience in capital markets. He has held senior positions at institutions such as Citibank, Long-Term Capital Management (LTCM), and Caxton Associates. Notably, in 1998, he served as the principal negotiator during the Federal Reserve's $3.6 billion rescue of LTCM.

Here’s a list of his top books:

• Currency Wars: The Making of the Next Global Crisis (2011).​

• The Death of Money: The Coming Collapse of the International Monetary System (2014).​

• The New Case for Gold (2016).​

• The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis (2016).​

• Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos (2019).​

• The New Great Depression: Winners and Losers in a Post-Pandemic World (2021).​

• Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy (2022).

Jim has an eerie ability to see many steps ahead where others do not…

And since he’s a mature, professional adult, he doesn’t let tribalism and emotions cloud his judgement and decision making process.

I’m not kidding when I say, I can’t recall the last time Jim was wrong about an analysis or a prediction he’s made. I look at track records more than anything else.

So lets get into it…

Below I’m sharing the most recent analysis he shared with his paid subscribers and private client group along with the history of “The American System” that was led by…

You guessed it…

Tariffs.

“The American System was invented in 1790 by Alexander Hamilton, and supported by a succession of leading political figures, including George Washington, Henry Clay, John Quincy Adams, Abraham Lincoln, William McKinley, Calvin Coolidge, and Dwight Eisenhower.

The American System relied on the following policies:

• High tariffs to support manufacturing and high paying jobs

• Infrastructure investment (public and private) to support productivity

• A strong army and navy to protect the US but not fight foreign wars

• A central bank with limited powers to provide liquidity to commerce

• To the extent there was government spending, it was for productive projects such as canal and road building and later to support railroads. To the extent that early central banks existed they were for secure lending to sound entities and a depository for the US government. They were not for purposes such as printing money, fixing interest rates or “stimulus.”

Beginning with the Trade Expansion Act of 1962, the US embraced the neo-liberal consensus, including drastic tariff cuts. As jobs moved offshore to take advantage of cheap labor, capital followed. The result was the hollowing-out of US manufacturing, wage stagnation, slower growth, and greater debt. Joe Biden's nightmare open border policy was consistent with neo-liberal views on the end of sovereignty.

Trump and his new economic team will return the United States to the pre-1962 days with the revival of The American System. Foreign companies will be free to sell goods to Americans, but only if they are manufacturer in the US. This will lead to a wave of inbound investment in the U.S., a reduction in U.S. trade deficits, a stronger dollar (as the world demands dollars to invest here) and higher wages for U.S. workers. Higher wages will raise real incomes, stimulate consumption, decrease income inequality and expand the tax base to help reduce deficits without raising tax rates.

Tariffs will not result in higher costs for U.S. consumers. If importers could charge U.S. customers higher prices, they would do that immediately with or without tariffs.”

~ Jim Rickards

A far different story and perspective than the one coming from mainstream, legacy media, right?

Shocker, I know.

Like I said above, I can’t recall the last time any of Jim’s analysis or predictions were wrong. Track records matter. Very few have them today.

He could be wrong here.

But he also could be right.

If he’s right, America wins. Big.

Lets see…

I’ll leave you with this video here, an even deeper dive on the subject of tariffs, from Mark Moss, another go-to financial analyst of mine — the polar opposite of what is being reported.

“The Tariff Lie: Why Everything You’ve Been Told Is Wrong”

Until next time…

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