Welcome to Liberrants, a blog dedicated to editorials, discussions, and studies of all things libertarian. Don't let the title mislead you; it's merely my attempt to be creative in describing myself as a "hopeful curmudgeon" who embraces the goal of the free, peaceful, economically vibrant society envisioned by America's founding fathers. Jump in! Contribute! Enjoy!

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Location: Tucson, Arizona, United States

A critically thinking curmudgeon whose goal, in addition to creatively venting about the imperfect world in which we live, is to induce critical thinking in others. The ultimate goal is to help bring about a peaceful world in which we can all live in freedom.

Friday, March 06, 2009

Doing My Part to Starve the State-Corporatist Beast - Step One

I've finally gotten off the stick and taken the first step toward doing what I should have done months or years ago: divesting myself of all Wall Street-related assets. My biggest fear to date has been the tax implications of doing so, but I've decided that this is something I will no longer let hinder me in doing what needs to be done. If the Establishment is going to steal my money, I'm going to make them do it at the point of a gun (i.e., through taxation) rather than under a ruse of "investment."

Yesterday afternoon I phoned my employer's HR department and told them to stop my allotment to my Franklin Templeton Growth Fund, to which I have been contributing regularly each month for the past twelve years. Not only has the fund lost fifty (50) percent of its value in the last two months, but the fee increases that the brokerage firm has recently levied are almost as much as the monthly share purchases themselves. Sorry, fellas, but I ain't gonna subsidize with more of my own hard-earned money your recovery from a decade of recklessly (mal)investing my money! You'll just have to eat that without any more of my direct, voluntary help!

I would like to try to sell my shares in this fund, but I'm not about to jump through the hoops set up by the Illegal Ripoff Service to avoid their confiscatory crapital gains taxes. Besides, I'd almost feel guilty pawning this increasingly worthless pile of "assets" off on anyone else foolish enough to invest in them. Therefore I'll just swallow my losses for now and hold onto the shares that I have, preparing to watch twelve years of hard-earned money disappear down the crapper once the dollar crashes and the fund is reduced to penny stock, if it even holds that much value.

I'm debating whether to invest the money formerly allocated for this fund's share purchases in gold or other precious metals or to put it toward paying down debt. I'm leaning toward the latter, as being debt-free at the point of the dollar's collapse will be just as important as having something to use as hard currency.

More to follow.