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The Wizard of Oz

I’m not sure where the pervy munchkins fit in, but I didn’t know this detailed allegory before:

Gold: 40 Years Since Bretton Woods


The interpretation of the film is clear. Dorothy (Everyman American) is lost in a (financial) storm. She is joined in her endeavours to find a solution by the Scarecrow (farmers), Tin Man (industrial workers) and Lion (pro-silver politicians). The Yellow Brick Road (gold standard) takes her some of the way there. However it leads to the Emerald City (fiat currency) with its false tricks and delusions. The answer to financial salvation lies in her ruby (silver) shoes. Of course the Wizard (President) was a fraud, his gifts were shallow and much of what he said was fantasy. The message is clear at its simplest level – we have the power within us by clicking our heels to make the changes we need. At a deeper level it seems urges a move beyond the constraints of a gold standard to make the economic changes necessary for growth.. in this case silver.


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