In an Over-Communicated, Intrusive World, Simple is Better
Ed

Clason’s “The Richest Man in Babylon” Part 2 – The 7 Cures for a Lean Wallet and The 5 Laws of Money

Copyright © 2007 Ed Bagley

Part 1 of this 2 Part series ends the synopsis of George Clason’s book “The Richest Man in Babylon,” but Clason raises an important question: Why should
so few men be able to acquire so much gold?

The answer is because they know how.

One may not condemn a man for succeeding because he knows how. Neither may one with justice take away from a man what he has fairly earned, to give to men of less ability.

And so it was that the good king of Babylon sought out the richest man in Babylon to teach to others in his kingdom the secrets of his success.

This is a synopsis of what the richest man taught to the people
of Babylon:

The Seven Cures for a Lean Wallet

1) Start your wallet to fattening. Save one-tenth of all you earn. Remember that a part
of all I earn is mine to keep. Do this faithfully. Do not let the simplicity of this escape you.

When I ceased to pay out more than nine-tenths of my earnings,
I got along just as well.
I was not shorter than before, and, money came to me more easily than before.

2) Control your expenses. How is it that all do not earn the same yet all have lean wallets? Here is the truth: That which each of us calls our “necessary expenses” will always grow to equal our incomes unless we protest to
the contrary.

Confuse not necessary expenses with desires. We all have more desires than our earnings can gratify. Examine which of the accepted expenses of living can be reduced or eliminated. Let your motto be 100% of appreciated value demanded for every dollar spent.

Budget your expenses so that your actual necessities are met without spending more than nine-tenths of your earnings.

3) Make your money multiply. Protect your growing treasure by putting it to labor and increasing. Money in your wallet earns nothing. Money that we earn from our money is but a start; it is the earnings generating earnings that builds fortunes.

When the richest man in Babylon loaned money to the shield maker to buy bronze, he said this: “Each time I loaned money to the shield maker, I loaned back also the rental he had paid me. Therefore not only did my capital increase, but its earnings likewise increased.”

4) Guard your money from loss. Everyone has an idea of how to make quick money; few, however, have the evidence of making money to justify their idea, scheme or offer of quick riches. The first sound principle of investment is security for your principal.

Before you loan your money to any man assure yourself of his ability to repay your loan, and of his reputation to do so. Make no one a present of your hard-earned treasure.

Consult the wisdom of those experienced in handling money for profit. Such advice is often freely given for
the asking, and may possess more value than the amount you
are about to invest.

5) Make your home a profitable investment. When you can set aside only nine-tenths of what you earn to live, and can use a part of that nine-tenths to improve the investment in your housing, do it; owning your own home is also an investment that grows with your wealth.

Your family deserves a home they can enjoy and call their own. It builds a sense of stability and well-being.

6) Ensure a future income. Build income-producing assets that do not require you to work forever. We will all grow old and die.

You should prepare a suitable income for the days to come when you are no longer younger and cannot work as hard, and to make preparations for your family should you no longer be with them to comfort and support them. Provide in advance for the needs of your growing age, and the protection of your family.

7) Increase your
ability to earn.
Desire precedes accomplishment, and the desire must be strong and definite. When you have backed your desire for saving $1,000 with the strength and purpose to secure it, you can then save $2,000.

Desires must be simple and definite. Desires defeat their own purpose when they are too many, too confusing, or too difficult to accomplish. Cultivate your own powers to study and become wiser, more skillful, and more productive.

Here is more sage advice from Clason’s masterpiece on financial matters:

The 5 Laws of Money

If you had to choose, would you choose tons of money or wisdom? Most men would take the money, ignore the wisdom, and waste the money. Here is the wisdom:

1) Money comes gladly and in increasing quantities to any man who will put aside not less than one-tenth of his earnings to create an estate for his future and the future of his family.

2) Money labors diligently and contently for the wise owner who finds for it profitable employment, multiplying unto itself in infinity if kept working diligently. Money multiplies itself in surprising fashion.

3) Money clings to
the protection of the cautious owner who invests it with the advice of men wise
in its handling.

4) Money slips away from the man who invests it in businesses or purposes that he is not familiar with, or which are not approved by those skilled in its keep. The inexperienced handler of money who trusts his own judgment, and puts his money in investments which he is not familiar, always pays with his money for his experience.

5) Money flees the man who would force it to impossible earnings, or who follows the alluring advice of tricksters and schemers, or who
trusts it to his own inexperience and romantic desires in investment.

Here is the hard lesson of the 5 Laws of Money: You cannot measure the value of wisdom in bags of money. Without wisdom, those who have it quickly lose money, but with wisdom, money can be secured by those who have it not.

This ends the condensation.

Copyright © 2008 Ed Bagley

Is it possible for an excellent, groundbreaking film in a specific genre to be overlooked at award ceremonies? Absolutely, and a perfect example is “A Fistful of Dollars” that gave rise to what we commonly identify today as “the spaghetti Western”.

A Fistful of Dollars was the first of Director Sergio Leone’s masterpiece trilogy that would be followed by “For A Few Dollars More” and “The Good, The Bad and The Ugly”. It was Leone who realized that the American-made Westerns of the 1950s had become nothing more or less than housing developments designed with a cookie-cutter pattern of staleness.

Leone’s answer was to shoot the film as if he was orchestrating an opera. The result would become the model for many Westerns to come, featuring his trademark taciturn characters, precise framing, extreme close-ups and the haunting music of Ennio Morricone.

All of this would give rise to “The Man With No Name” (Clint Eastwood), who was originally referred to as “Joe” in A Fistful of Dollars, but became The Man With No Name in the sequels.

I am very boffo on this film and for good reason. The combination of Leone’s direction is excellent given Morricone’s music, the cinematography by Massimo Dallamano and Federico Larraya, film editing by Roberto Cinquini and Alfonso Santacana, and sound by Elio Pacella. A Fistful of Dollars was shot in the Spanish province of Almeria.

Despite its credentials, A Fistful of Dollars would win only one award—the Italian National Syndicate of Film Journalists’ Silver Ribbon for the Best Score by Ennio Morricone. You could see this film for the musical score alone and come away very impressed.

Released in 1964, A Fistful of Dollars would not make its American debut until 1967. The film’s arrival here was delayed when “Yojimbo” screenwriters Akira Kurosawa and Ryuzo Kikushima sued for breach of copyright and won, receiving 15% of the film’s worldwide gross and exclusive distribution rights for Japan, Taiwan and South Korea. Kurosawa said later he made more money off this project than he did on Yojimbo, which was released 3 years earlier. The screenplay was written by A. Bonzzoni, Victor Andres Catena and Sergio Leone.

The story is about a gunfighter (Clint Eastwood) who comes to a small border town and offers his services to two rival gangs—the Rojos and the Baxters.

The Rojos include the dangerous Ramon (Gian Maria Volonte), Esteban (Sieghardt Rupp) and Don Benito (Antonio Prieto), Ramon’s girlfriend Marisol (Marianne Koch), Rubio (Benito Stefanelli) and Chico (Mario Brega). The Baxters include John (Wolfgang Lukschy), his wife Consuelo (Margarita Lozano) and a bevy of additional lesser-light banditos on both sides.

The bell-ringer in the film, Juan De Dios (Raf Baldassarre) warns the gunfighter, “you’ll get rich here, or you’ll be killed.” The gunfighter later acknowledges that the “crazy bell-ringer was right, there’s money to be made in a place like this.”

Neither gang is aware of The Man With No Name’s ploy to play one against the other, each thinking they are using him against their rival, but the gunfighter will outwit them both.

Along the way he will personally kill at least 14 of them, get the Rojos to completely obliterate the rest of the Baxter gang, rescue the kidnapped wife and return her to her family so they can safely escape, rescue the innkeeper Silvanito (Jose Calvo), and eliminate Ramon Rojo in a classic showdown worthy of any Western movie every made and too good to share here.

Another actor to watch in this film is Piripero the undertaker (Joseph Egger), who provides the avenue for The Man With No Name’s escape when he is incapable of doing so on his own.

The genius of Sergio Leone is seen in one of the film’s earliest scenes. As the gunfighter rides slowly into town, 3 Baxter gang members fire shots to scare the mule he is riding. After some food and whiskey, the gunfighter confronts his tormentors with this dialog:

“I don’t think it’s nice, you laughin’. You see, my mule don’t like people laughing. He gets the crazy idea you’re laughing at him. Now if you apologize, like I know you’re going to, I might convince him that you really didn’t mean it.”

Properly incensed and challenged, 4 key Baxter gang members draw to fire and are cut down in a blink of an eye by The Man With No Name.
While the dialog and action in this scene are excellent, Leone’s direction is even more so and here is why: In American films, when a cowboy was shot, one camera was ALWAYS focused on the shooter and a split second later, another camera cut to the victim. Leone captured the scene with the camera over Eastwood’s shoulder, so the moviegoer could vicariously witness the shooting as if he was doing the shooting.

Leone’s genius was as powerful today—44 years later—as an interactive web site on the Internet, both of which did not exist in 1964. No wonder it is so easy for moviegoers today to experience his genius.

A Fistful of Dollars is too good not to experience. Like so many films that are expected to be nothing and become classics in movie history, the role of The Man With No Name is littered with big names who did not play the role when an unknown like Clint Eastwood did.

This list includes Henry Fonda, James Coburn, Charles Bronson and Richard Harrison. Harrison would later acknowledge that “maybe my greatest contribution to cinema was not doing A Fistful of Dollars and recommending Clint for the part.”

Eastwood had been in the television series “Rawhide” prior to being tapped for the role. He helped build the character of The Man With No Name by buying black jeans form a sport shop on Hollywood Boulevard, buying the hat he wore from a Santa Monica wardrobe firm, and buying his trademark black cigars from a Beverly Hills store. He cut the cigars into thirds to give them a more distinctive look.

Leone was reportedly taken with Eastwood’s distinctive style, commenting in Italian that “I like Clint Eastwood because he has only two facial expressions: one with the hat, and one without it.”

Like another tremendously successful actor Tom Hanks, Eastwood knew how to instinctively exude enormous charisma that was never evident in his low-key style. Any real man in America would be proud to strap on The Man With No Name’s gun belt and pistol. Is A Fistful of Dollars a guy film? Certainly.

Leone did not direct the first spaghetti western ever made, but his was the first one to receive a major international release, not to mention the fact that it launched Clint Eastwood on an incredibly successful career as one of Hollywood’s most popular, profitable and bankable actors and directors ever.

These Are Possibly the 5 Most Accurate Sentences You Will Ever Read

Copyright 2020
by Ed Bagley

1. You cannot legislate the poor into prosperity by legislating the wealth out of prosperity.

2. What one person receives without working, another person must work without receiving.

3. The government cannot give to anybody anything that the government does not first take from somebody else.

4. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.

5. You cannot multiply wealth by dividing it.

America is getting perilously close to losing its four most important freedoms:

1) A republic form of government based on law and order to ensure a civil and livable society.

2) The right to choose your own path in life, to speak freely and assemble freely without control from a government hell bent on becoming a socialist society that will control our means of production and jobs, seek to limit our source of information in the media and in our educational system and provide us with a substandard, universal healthcare system that will go broke, just like every other government program since the beginning of time.

3) The right to keep arms to protect us from a government that becomes too big and greedy in its control over us, moving into socialism and then morphing into a communist or totalitarian system with a dictator, controlling every aspect of our lost freedoms, taking our property and assets, destroying our family, raping our women and killing us when we object.

4) The right to free and fair elections to determine who will represent us without government officials fixing elections to elect the candidate of their choice, to protect our borders from criminal actors and elements that threaten our safety and security, and career politicians who can be bought and sold by special interest groups, including businesses making money and creating jobs, and minority groups littered with victims who have little interest in working within the existing system to get ahead and prosper and seek government control and government handouts while complaining and whining voraciously while achieving nothing.

America is the freest country with the greatest opportunity on the face of the Earth. Clearly, the underachievers who are unhappy in America are out to change our system rather than themselves. The do not understand this reality: When you blame others you give up your ability to change. Albert Einstein said it best: The difference between ignorance and intelligence is that intelligence has a limit.

Financial Thoughts
on Investing
by Warren Buffett

(Ed’s Note: The following condensation is from The Tao of Warren Buffett, written by Mary Buffett and David Clark and available for sale at Amazon and bookstores nationwide. I am always impressed by what Warren Buffett has to say and am doing this condensation to help promote their book.)

On Investing: Never be afraid to ask too much when selling offer too little when buying.
(Ed’s Note: How much you get from a sale or how much you have to pay when making a purchase determines whether you make or lose money and how rich you ultimately become.)

(Ed’s Note: For more of Warren Buffett’s advice go to the menu bar above and click on Financial Thoughts.)