(I began publishing my monthly newsletter The Bob Livingston Letter™ (subscription required) in 1969. The following is an excerpt from the August 1997 issue in which I recognized that republicanism was already lost, the vote was meaningless and being recognized as such, the middle class was being destroyed, the stock market — propped up by the Federal Reserve’s money printing and laws driving private money into the stock market via individual retirement accounts — was a bubble and that the evolution toward democracy would spur legislation sanctioning and promoting depraved behaviors.)
Most of you are already informed enough to know that the American nation was founded as a republic, not a democracy. A republic is a limited, representative, participatory government. A republic is the almost natural result of public order built upon the individual, the family, the Church, and business and many, many private associations and relations. Democracy is not necessarily a representative government, but it is an illusory participatory government. People tend to think that democracy is evolved or modern republicanism. Democracy is truly a veil for a wicked government that places all matters, including personal and private ones, into the public view, for public legislation.
In a democracy, the vote becomes the single, all-important symbol of citizen participation in government. The brilliant Frenchman, Alexis de Tocqueville, described in his Democracy in America, the danger facing all Americans should they become deceived into believing that their mere, sole vote constituted all the duties of a good citizen. He warned that when this development came about, we should become slaves to the real, elitist and plutocratic powers operating behind the veil of democracy. The problem was obvious more than 150 years ago, when Tocqueville wrote his book.
Democracy flourishes where the hard-working, creative middle class perishes, or is not allowed to develop. Its days, however, are numbered. For many reasons, the individual vote today is actually meaningless. So few people vote today that the illusion is breaking down. Some folks say I am a pessimist, but here you see that I am really an optimist. The middle class is opting out of the illusory democratic system. As a result, they are being herded into supporting the paper money system, which is less and less reliant on the dollar and more and more reliant on the stock market. This too shall pass.