Editor's Note: Romulus Augustus, the last emperor of Rome, had a lot of time to think about what went wrong to cause the fall of the greatest empire in history. Here, for the first time, in this exclusive essay he tells the full story of the fall and gives Obama sage advice to our Chief Investment Strategist, Keith Fitz-Gerald on how to avoid the same fate in the US. Please forward this to interested friends or family members.
My name is Romulus Augustus. I was the last Roman Emperor. Though I only ruled a few years before giving up my throne on 4 September 476, I lived for at least another 25 years according to the tax records. I drew a pension until at least 507 according to Cassiodorus. And, in doing so, had plenty of time to think about what went wrong.
I have made the journey through time to offer my counsel and perspective lest your country repeat the same damning mistakes that ended centuries of Rome's greatness.
Let's begin at the top.
When I took the throne, the puppet masters held sway over the citizens. Theoretically, the citizens ruled Rome but sadly, true power was held by those who served as their representatives. The concentration of power is very real when it is the diffusion of power that best serves liberty.
Do not let your representatives take this for granted.
America, like Rome, will cross the most dangerous lines once voters figure out that they can entitle themselves. You will go from a nation of makers to a nation of takers.
We learned the hard way as our treasury became a proxy for a handout. Our citizenship changed radically and so did our elections. Towards the end, our political process was not about who would build a better future for the Empire, but who would be least likely to take away the handouts.
We tried giving the people free wheat as the progressive minds of our time thought that would change things. In reality, it made them worse.
Big operations and even bigger government led to large scale unemployment, particularly in our larger cities where people had nowhere else to go.
In the afterlife, I hear everybody from Henry the 8th to Julius Caesar debating the merits of leadership. Even Elvis weighs in which brings me to my next point…
Politicians who focus on surviving threats from each other lose sight of the nation they serve and their people.
We never got this right. You have the chance to do so. Today…now….before it's too late.
Here’s what you must understand…
About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean, and he's also the founding editor of Straight Line Profits, a service devoted to revealing the "dark side" of Wall Street... In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.