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James Monroe, our fifth president and last of the Founding Fathers to serve in The White House, was the author of the Monroe Doctrine, which went into effect on this date in 1823. 

It basically told the European powers of England, France Spain, the Holy Alliance and Russia to stop trying to colonize the Americas.

In exchange, the United States said it would not influence or interfere with countries in the Eastern Hemisphere.

One of Monroe's lesser-known accomplishments was his ability to reduce the national debt.

No mean feat since the War of 1812 had plunged the country deep in debt. 

He wasted no time in cutting expenses in all of the federal departments.

By the end of his eight years in office, the debt had been substantially reduced.

(Although he was not so skillful with his own finances.)

But it's his forward thinking to secure a lasting peace that garners Munroe the most praise.

In “James Munroe,” Gary Hart, who you may remember, makes the case that Munroe was our first national security president who set in motion a Doctrine, treaties and annexations that would secure America's homeland against foreign attack for nearly 200 years.

I wonder how James Munroe would have handled these times.

J. Peterman


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40 Members’ Opinions
December 02, 2011 12:04 AM
Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 lotlot said...

Could it be that the word debt is the worst four-letter word around today?

December 02, 2011 1:10 AM
Myself 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 Spring Fragrance said...

........lotlot, I take turns doing a market opening radio report and that is almost exactly what I said recently!!

December 02, 2011 1:39 AM
Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 hazel leese said...

Oooooh no!!!! Spring~ That Century Egg looks just as bad as I imagined - and it looks back at you!
Much too early in the morning to digest a slab of American history and have an opinion on world debt.

December 02, 2011 4:35 AM
Stage_2 10photoviewsCom-100Com-300Com-500First-comFirst-photoHr-1Hr-10Hr-5 JALOPKIN said...

lotlot:  Its a Five Letter Word, and he think the Monroe Doctrine was a Tabloid Article about Marilyn .......

December 02, 2011 5:13 AM
Myself 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 Spring Fragrance said...

Bwahahahha!! Hazel ~ it looks bad I know!

Well, it looks like the holy alliance of the seventeen (users of the Euro) plus ten (non users of the Euro) nations, the Eurozone, have created the greatest crisis the world faces today.
Deuteronomy 22:10 "Thou shalt not plow with an ox and an ass together" would have been good advice; as is, being yoked together pulls every constituent nation down in the ever engulfing quicksand.
Make no mistake about it, there will be massive dislocation when the Euro dismantles; many European multinationals have already made contingency plans, Siemens has reportedly started its own bank to handle transactions with the European Central Bank and there is a persistent rumour from the foreign exchange boys that Germany has been secretly printing Deutschmarks. For the first time in years, I have stopped being bearish about the US$. Despite its huge debt problem I think when the Euro breaks up, there will be a rush back into US$. Not because it is "valuable", heck no, it is because there isin't any other currency with enough depth to absorb the flows. A currency exchange is never one sided, it is always in a "pair" - if one sells the Euro, you have to buy something else in its place.

Lotlot is right - both Europe and the US is awash in debt. And because they are now asking ex-communist nations like Russia and China for help in the bailout, questions raised would include asking if the laissez faire, freely democratic western style of running governments and economy is all wrong. To paraphrase the supposedly Chinese curse, we all "live in interesting times".

December 02, 2011 5:54 AM
Waldo 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 Tommy Typical said...

Today there are still 650 million acres of land owned by the Federal government most of which bought with taxpayer money in the Louisiana Purchase- best 15 million ever spent. Although the Alaska Purchase wasn't bad. There are between 400 and 1200 military bases operated by the US on foreign soil depending who you ask. Good for the goose good for the gander Monroe Doctrine in reverse???? And each person owns $40-50,000 in debt. Monroe was a Democratic-Republican and wanted to see an end to political parties. That beautiful sentiment didn't work out. He left office in deep debt while today politicians today leave office with millions more than they started. He refused to step in during the Panic of 1819 but rather let natural economic forces play out. If my debt for living here is 50 grand, send me a bill & I will work out a payment plan. Oh yeah, I get one now every April 15th. It's like a hotel bill or a tab at my favorite restaurant, payment for services rendered. Worth every penny for living in this great country. Monroe like all of our presidents are cool guys shaped by history, full of flaws, but trying desperately to hold this thing together. God only knows what they have to hear in those morning briefings.

more on the honor roll
December 02, 2011 9:47 AM
10photoviewsCom-100First-comFirst-photo SkyWalker said...

This country (the US) needs genuine leaders - flawed, human but genuine.

December 02, 2011 9:49 AM
Com-100First-comHr-1Hr-10Hr-5 jmr said...

I don't think Monroe's "you keep off our turf and we'll keep off yours would work today." I also think, being smart, he would have realized that and adjusted to these times. Isolationism doesn't work. Neither does blundering.   I think Tommy makes some typically great points. His morning meetings would probably consist of him wondering, "What did I get myself into?"

December 02, 2011 10:10 AM
Me_and_dave 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-videoHr-1Hr-10Hr-5 Andy said...

Skywalker ~ Agreed!  It should be added, not politicians and all that implies, but genuine people with whom we can relate and at least think they care about us.

December 02, 2011 12:03 PM
4244 Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 ChefDeb said...

Nods all around.

December 02, 2011 12:15 PM
Paolo 10photoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 paolos said...

SPRING ~ Why is it that you don't see the dollar as "valuable"?  Didn't one
of the Swiss Bank immediately buy US dollars when they lost their billions of
francs in some rogue trading scam? That's the story I heard.  
My personal observation is that there has been more exchange
stability between the Euro and the US Dollar and the British Pound in the last ten years than there
ever was between the Deutsche Mark, the British Pound and the US Dollar circa
pre-euro.  But then I don't believe in industrial world induced global warming
either.  What I mean by that is that the markets and the governments love
instability and will do whatever is necessary to create it. Misinformation is
always the first step.  The Euro is 12 years old and will function as long as it is
allowed to work and is not treated as a commodity. The dollar is constantly reinvented but the same holds true, its "depth" is in the strength of our country's resources and our ability to work those resources.   This is Friday light?


December 02, 2011 12:43 PM
10photoviewsCom-100First-comFirst-photo Cassiepants said...

Bringing things back to food because I am not yet awake on a Friday morning on the West Coast, I had a fried egg, applesauce and homemade banana bread this morning. Much better start to my day.   
Am I the only one confused by the change from 'Monroe' to 'Munroe'  2/3s of the way through the article?    
Spring~  Your comment about the dislocation caused by the dismantling of the Euro is spot on. I keep waiting for the day when Germany and France finally give up and say 'no more'! to Greece and Spain. The UK is looking fairly prescient these days in its decision not to join the Euro.

December 02, 2011 2:09 PM
Me_and_dave 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-videoHr-1Hr-10Hr-5 Andy said...

Cassiepants ~ No, you're not the only one confused, but then I spend a good deal of my life that way.

December 02, 2011 2:57 PM
1-dscn1106-4 10photoviewsCom-100Com-300Com-500First-comFirst-photoHr-1Hr-10Hr-5 PARK4 said...

Yes, paolo it's Friday, but I don't think that precludes putting down a well-thought out thought, as you did.  .... There's been a lot of Friday type topics appearing on Monday-Thursday of late, so maybe this is a form of pop quiz make-up test.  Gets the dull knives out of the drawers and into the sharpener, doesn't matter when it happens, just that it does.....And I agree with you, the dollar isn't dead, but it is reinvented regularly.  And when the Euro dies, which I think it will - what an interesting situation that will be.  A lesson learned the hard way for sure, but how did anyone think that a group of welfare states would survive on any kind of currency.  Work generates money and money makes the world go round.  ...  Gosh, if Germany, the one country that seems to have a work ethic and a bank account bales out Greece which definitely has neither - will Greece in return, willingly dance the schottische to the jangle-sound of the dair?  Only time will tell, but I think hell will freeze over before one Euro country will bow down to another for any reason. ....  Where's Obama?  What's his thoughts about the Euro?  In case anyone's forgotten, and it would be easy to do so, Obama is our student prince President who doesn't have a plan A much less a Plan B.   I hope he's gone by the time Iran explodes all over Israel, and Obama takes the wrong side.  He's a nightmare.  With all due respect, Mr. President, that's what you are.  Be gone with you, build electric cars and windmills with Al Bore in Norway...   

December 02, 2011 3:00 PM
1-dscn1106-4 10photoviewsCom-100Com-300Com-500First-comFirst-photoHr-1Hr-10Hr-5 PARK4 said...

(above) I wrote "dair" - I misspelled the name of the Greek instrument, the daire.

December 02, 2011 3:58 PM
Paolo 10photoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 paolos said...

Cassiepants ~ What difference does it make which
currency they use?  The banks only want the best vehicle to produce the greatest
return.  Our own Federal Reserve loaned 16 trillion dollars to only they know
which bank or entity.   Does everyone understand that it should be OUR currency
and it's not? Hell it's not even our bank.

Right now many of our sovereign states are seeking to
find ways to obtain protection under federal bankruptcy laws.  California is the
5th largest world economy.  What will happen to the dollar if
California goes bankrupt?  That should concern us more than what happens to
Greece, Italy, Ireland or Spain.

We have the resources to be self-sufficient in all things.  Very
few other countries can say that and none that have handled it as well. We just
need to put our heads back on our shoulders.  Basic Economics should be a
required course for every high school student.

The list of institutions
that received the most money from the Federal Reserve can be found on
page 131 of the GAO Audit and are as follows..

$2.5 trillion ($2,500,000,000,000)
Morgan Stanley:
$2.04 trillion ($2,040,000,000,000)
Merrill Lynch:
$1.949 trillion ($1,949,000,000,000)
Bank of America:
$1.344 trillion ($1,344,000,000,000)
Barclays PLC (United
Kingdom): $868 billion ($868,000,000,000)
Bear Sterns:
$853 billion ($853,000,000,000)
Goldman Sachs: $814
Royal Bank of Scotland (UK): $541
JP Morgan Chase: $391
Deutsche Bank (Germany): $354
UBS (Switzerland): $287
Credit Suisse (Switzerland): $262
Lehman Brothers: $183
Bank of Scotland (United
Kingdom): $181 billion ($181,000,000,000)
BNP Paribas
(France): $175 billion

December 02, 2011 4:37 PM
First-com vkerr said...

Regarding the comment about isolationism, non-intervention in the internal affairs of other countries, which the Founders urged, is NOT isolationism.  America has never isolated itself, but it has interfered disastrously in the internal affairs of other nations. We're now far along on the road of empire and face its ultimate outcome.

December 02, 2011 4:38 PM
Com-100First-comHr-1 smilesforever said...

Nice that The Village doesn't need a bailout, but a little extra moolah, especially at this time of year, would do a lot for my Smile!

December 02, 2011 4:43 PM
Com-100First-comHr-1 smilesforever said...

Darker note......Lost my Sister-in law Thanksgiving day to cancer.  A beautiful, giving woman who went way before her time.  A blessing, as now she is free from her pain, but a light has gone out in our family.

December 02, 2011 4:49 PM
Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 hazel leese said...

hello, vkerr~ You know that thing people say "I don't know much about art, but I know what I like"? Well, I don't know much about this topic, but I like what you say.

December 02, 2011 4:54 PM
004 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-videoHr-1 korthal said...

SMILES: I'm so sorry for your loss.

December 02, 2011 6:02 PM
Waldo 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 Tommy Typical said...

Smiles- Sorry about your loss. The "light out image" is so true. Lost both my father-in-law and my Mom last year around this time and we had a bad patch of weather- gloomy, cold, rainy - and I could feel the megrams trying to horn their way in and then the last couple o' days, the sun has been bright and the sky so blue and life so precious but I still knew that my ocean was two drops short and weren't a darn thing I could do about it but be thankful. Peace and Blessings.

December 02, 2011 6:27 PM
Stage_2 10photoviewsCom-100Com-300Com-500First-comFirst-photoHr-1Hr-10Hr-5 JALOPKIN said...

I am Wishing Each and Every Person in This Village, Old Timers & Newbies Alike, a Great Weekend and Lots of Pleasant Memories ....... I Wish You All Plenty of Good Food, Good Wine, Good Friends and Family ... and just the Right Amount of Whatever Makes You Happy ... No Dark Clouds, Great Weather, Safety & Security, and Guilt Free Enjoyment of it all !!!
To the Tribe:   GOOD  SHABBOS !!!!!!!
I Wish Y'all a Sabbath of Peace, a Sabbath of Joy, and a Sabbath of Rest .......
"In Your Love You Have Given Us the Power to Behold the Beauty of The World, Robed in All of Its Glory ... The Sun and Stars, Valleys and Hills, Rivers and Lakes ... They Are Full of Your Presence ... May Our Eyes Behold and Rejoice ......."
May Our Rest Be Pleasing To Him Who Made Us .......
Blessings Upon You All

December 02, 2011 6:37 PM
10photoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewHr-1Hr-10Hr-5 Mooseloop said...

If the Euro fails, so you think the world will fall back on the old dollar? I kinda think they will, but how sad that our dollar is so devalued.....Can we all work to get some decent leaders of our nation up there in Washington, DC?? Please. Nobody (smart body) spends trillions of $$ they don't have.

December 02, 2011 6:38 PM
10photoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewHr-1Hr-10Hr-5 Mooseloop said...

Thanks for the blessing, Ivan! And condolences to you and your family for the loss of a sister, Smilesforever....Sometimes, it is hard to smile.

December 02, 2011 6:47 PM
10photoviewsCom-100First-comFirst-photo Cassiepants said...

Thanks for the blessing, Ivan! Your way with words brought a tear to my eye.   
And Smiles, infinite love to you and condolences. What a hard thing.     
Finally, Mooseloop~ Paolos is right that it really doesn't matter two hoots what currency the world falls back to - it's all about how much money the banks can make, regardless of whether the currency of the day is the dollar, the pound, the loonie or the Chinese Yuan. I'm pretty sure at this point the banks are playing a fantastic shell game with the economic resources of the global economy. I just don't like that there are no people in Washington DC on either side of the aisle who seem willing to have a conversation with each other. Back in the day, they'd go out on a Friday night, eat a good steak, have a few cocktails, realize that they were all human beings, and see what they could do to help America out.  I may not have always agreed with the people on the other side of the aisle from me ideologically, but I could respect them. And that was a pretty good starting point.

December 02, 2011 8:08 PM
Me_and_dave 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-videoHr-1Hr-10Hr-5 Andy said...

Smiles ~ Most sincere sympathy to you and your family

December 02, 2011 8:39 PM
4244 Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 ChefDeb said...

SMILES So sorry for your loss.

IVAN Good Shabbos and blessings to you and yours with love.

HAZEL Nos da.

BEBE oh yeah, snockered!

December 02, 2011 8:40 PM
4244 Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 ChefDeb said...

oh and PAOLOS learned a lot from you today, Thank you.

December 02, 2011 8:57 PM
Waldo 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 Tommy Typical said...

Got all my Grinch stuff together for Breakfast with Santa. Looking for 300 or more kiddos to Go Green...and Furry. My heart shall grow 3 times tomorrow at least.

December 02, 2011 8:57 PM
Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 hazel leese said...

Ivan~ Thankyou for your beautiful Friday night blessing.
Smiles~Long armed hug from over the ocean.
Nos Da, everybody, x

December 02, 2011 9:03 PM
Christmas-on-main-street-joseph-holodook First-comHr-1 PARK4 said...

I guess Friday must be about food or at least gardening, or nobody wants to even take a stab at conversing.  Funny old village.
...Thank YOU IVAN! 
...Thank You Paolos.  Hope your headache has gone away by now.
...Nos da, Hazel.
...Goodnight Bebe, wherever you are.  Persevere, huh?  Where's your name Miz Molly?  Good golly you didn't show either.  ;)

December 02, 2011 9:12 PM
Cb_xmas_big First-com PARK4 said...

Oh my.  There seems to be two of me wandering around here in the village, and both of us are newbies, no comments, no medals, no nothin'.   This hasn't been the best day in many ways...oh well.  I'll start over...3,000 plus comments shouldn't take but another 2-3 years to rack up. night all. 

December 02, 2011 9:22 PM
Me_and_dave 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-videoHr-1Hr-10Hr-5 Andy said...

Park ~ What happened to all of your medals?
Tommy ~ Breakfast with Santa is very cool.  I've been trying to get my husband to sit with Santa and get our picture taken to send out this far, no go.

December 02, 2011 9:39 PM
Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 Carol said...

Smilesforever, may I just add my condolences to you on the loss of your sister in law?  May all the good memories help you over the very sad points.  

December 02, 2011 9:39 PM
Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 Carol said...

Well, looks like you're back!!

December 02, 2011 9:41 PM
Com-100Com-300Com-500First-comHr-1Hr-10Hr-5 Carol said...

Oooooops!  I'm sure I saw all your medals, etc. back just amoment ago when I checked.....perhaps too much Zin......

December 02, 2011 10:55 PM
Com-100Com-300Com-500First-comHr-1 bebe said...

CHEFD.....................I could certainly tell and I was much amused..........................rock on!!!!!!!!!!!!!!!!!!!!
PARK...................oh yeah, baby, oh yeah..................and not a moment too soon.  It was getting waaaaaaaaaaayyyyyyyyyy too icky & fey...........................You light this place up like a Baskin-Robbins...................mmmmmmmmmmmmmm.........Baskin-Robbins....................I worked there in high school & am ashamed to say that we would pull the peanut butter ribbon out of the peanut butter & chocolate ice cream & eat looked like the tail of some strange animal..............don't even get me started on the "mistake" drawer............................this ain't no disco, this ain't no foolin' around.......................
IVAN........................many more back your way....................your blessing is something we all look forward to............................
PAOLOS..............but can you buy a 5 way w/ it???????? My husband brought me 2 cans of the beautiful elixir of loooooooooooooooooooooovvvvvvvvvvvveeeeeeeeeeeee...................

December 02, 2011 11:53 PM
Waldo 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 Tommy Typical said...

P4- you are a best day so where you are it is.

December 03, 2011 7:17 PM
Myself 10photoviews10videoviewsCom-100Com-300Com-500First-comFirst-photoFirst-reviewFirst-videoHr-1Hr-10Hr-5 Spring Fragrance said...

Paolos, I probabaly shouldn't have used the word "valuable" but without going into a treatise of what makes money money, it was one that just popped up. One of the most important qualities of money is of course scarcity, which in the case of the US$, gets less and less every time more is printed. I think everyone agrees that the problem today is too much debt. At a very simple level, there are only these solutions to debt that cannot be repaid

(1) You are forgiven (individual and sovereign level)
(2) You declare bankruptcy (individual, corporate and sovereign level)
(3) You borrow even more to cover your debts (individual, corporate and sovereign levels)
(4) You print more money to pay it off (sovereign level)

The immediate crisis is the Eurozone and whether we like it or not, it WILL affect everyone because the world is so open and connected.

Those who think that the US is big enough to survive on its own is only partially right because your banking institutions are at risk due to their exposure in Europe. Money is to the economic system as blood is to the human body. Of the four solutions above, which do you think is right, acceptable or agreeable in each case you hear today? Greece had been given option (1) with bankers willing to take a "haircut" (ie forgive or write off) 50% of their outstandings. (actually it's more like 30% as alot of "borrowings" were not counted in the "forgiveness" table but now (the cheek of it) Greece wants 90%

Here's more absurd facts....the EFSF (European stability fund, you have heard it in the news) has been specially created to tackle this mess; its only mandate is to print bonds. Bonds are IOUs paying interest to lenders. So, this stability fund has NO MONEY, it is only a bag of IOUs which it tries to sell!! Russia and China, approached to buy these IOUs have said NO! You would be careful too because, these bonds or debt papers are guaranteed by the eurozone nations in the proportion that they contribute to the European Central Bank (ECB). Spelling that out, it means every IOU is 4.8% guaranteed by Greece, Ireland and Portugal. Throw in Italy, Spain and France, every IOU is about 40% guaranteed by the very nations now crying out for bailouts!!

Now, they are looking at solution (4) but the ECB is a lame duck and needs to amend their constitution to allow it to. Germans really hate that and will fight it as much as possible because of their nightmarish inflation experience in Weimar Germany (check out Adam Fergusson's "When Money Dies", reveiw at Amazon:
In our current time, the ultimate printer of money has been Zimbabwe where hyperinflation reached more than (estimated as it runs too fast) 231million % p.a

The US is in a unique position. Its debt is unquestionably on an unsustainable course and all of us, including non-Americans should be concerned. It has also been printing money, lots and lots of it. What is the difference between Zimbabwe and the US? No one wants the Zimbabwean currency but the US$, because of its role as a "reserve currency" (ie all treasurys of the world can count it in their accounting + everyone else uses it) it is in a unique position. Some ~40% of its debt is also held in foreign hands, with the loans denominated in US$, s interview on the Alex Jones show, he is pretty interesting

If anyone wants to discuss this further, email me at

Honor Roll

Today there are still 650 million acres of land owned by the Federal government most of which bou...

-Tommy Typical

Dec. 02, 2011 5:54 AM

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