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.

(Ed’s Note: I originally wrote this review in 2007.)

Camelot – 4 Stars (Excellent)

“Camelot” is a wonderful Broadway musical that garnered Oscars for Best Art Direction, Best Costume Design and Best Music, and Oscar nominations for Best Cinematography and Best Sound.  It other words, Camelot was a superb technical triumph in its day.

Camelot also won Golden Globes for Richard Harris for Best Actor (as King Arthur), Frederick Loewe for Best Original Score, and both Frederick Loewe (music) and Alan Jay Lerner (lyrics) for Best Original Song “If Ever I Should Leave You”.

Golden Globe nominations also went to Camelot for Best Picture, to Vanessa Redgrave for Best Actress (as Guenevere) and to Franco Nero for the Most Promising Newcomer (as Lancelot Du Lac).

The cast was superb and included David Hemmings (as Mordred, who looked as slimy and cunning as possible), Lionel Jeffries (as King Pellinore) and Laurence Naismith (as Merlyn, the Magician).

Joshua Logan directed this film like a beautiful flower coming into blossom where it is planted only to be destroyed by fire.

Camelot, released in 1967, celebrates its 40th anniversary this October, and was based on the 1960 musical play Camelot written by Alan Jay Lerner with music by Frederic Loewe.

The play was based on the King Arthur legend as adapted from the T. H. White novel “The Once and Future King” and ran on Broadway for 873 performances. To say the least, it was well received.

The original cast for the play included Richard Burton as King Arthur, Julie Andrews as Queen Guenevere, Robert Goulet as Sir Lancelot, Roddy McDowell as Mordred, Robert Coote as King Pellinore and David Hurst as Merlyn with Moss Hart as the Director.

Camelot became a modern day legend when it was immortalized—after President John F. Kennedy’s assassination on November 22, 1963—by revealing that the show’s original cast recording had been the favorite bedtime listening in the White House. Kennedy’s favorite lines were in the final number (when King Arthur knights a young boy and tells him to pass on the story of Camelot to future generations):

Don’t let it be forgot,
That once there was a spot,
For one brief, shining moment
That was known as Camelot.

Since then, Camelot has been associated with the Kennedy administration, and the glory and the tragedy of the Kennedy family. Kennedy was the youngest elected President, the first Roman Catholic President, and the youngest President to die.

The following synopsis of Camelot from wikipedia.com is important in setting the stage for what I am about to reveal to you (the songs to accompany the scene are in parentheses):

“Guenevere arrives in Camelot on a wintry morning to marry King Arthur (of England) and is greeted festively by the Court. Arthur, shy and nervous, hides in the nearby woods (“I Wonder What the King is Doing Tonight?”).

“Guenevere comes to the woods, uncertain about herself and her future (“The Simple Joys of Maidenhood”). She stumbles into Arthur, who tells her about life in Camelot (“Camelot”), and then discloses his identity. They are each happily charmed by the other.

“Arthur learns from Merlyn the wisdom of peace and brotherhood, and is inspired to establish the Round Table. The news of this reaches young Lancelot in France, who is determined to come to Camelot and join Arthur’s knights (“C’est Moi”).

“A May Day celebration takes place on the castle grounds (“The Lusty Month of May”), where Arthur introduces his wife to Lancelot. Guenevere takes an instant dislike to the cocky young man and (challenges) him to engage three knights of the Round Table in a jousting match (“Then You May Take Me to the Fair”). Arthur is dismayed by this and (is) at a loss to understand a woman’s way (“How to Handle a Woman”).

“In the jousting match Lancelot easily defeats all three knights, drawing the admiration of them all, including Guenevere. Lancelot falls in love with (Queen) Guenevere and is torn by the conflict between this love and his devotion to Arthur. He asks permission to leave Camelot for foreign conquests.

“Returning two years later, Arthur makes him a Knight of the Round Table. Arthur is painfully aware of the feelings between Lancelot and Guenevere but remains silent to preserve the tranquility of the Camelot.

“Lancelot reveals his feelings to Guenevere (“If Every I Would Leave You”). Nevertheless, she remains faithful to Arthur, and helps him in carrying out the affairs of State (“What Do Simple Folks Do?”).

“Mordred, Arthur’s illegitimate son, comes to Camelot to dishonor the King and try to gain the throne for himself. He schemes . . . to trap Arthur in a forest one night. During the night, Lancelot visits Guenevere in her chambers, where she reveals her love for him (“I Loved You Once in Silence”).

“Mordred and some of the Knights of the Round Table interrupt, accuse Lancelot of treachery, and imprison him. Lancelot escapes, but Guenevere is sentenced to burn (“Guenevere”). At the last moment, Lancelot rescues her and takes her off with him to France.

“For the sake of his own honor and that of Camelot, Arthur must now wage war on France. Just before the final battle, he meets Lancelot and Guenevere, and forgives them both.

“In camp, Arthur meets a young stowaway who wants to join the Round Table. Arthur knights him on the field of battle and sends him back to England to grow up there and pass on to future generations the ideals of Camelot.”

Two side notes and then my revelation.

First, the song “If Ever I Would Leave You” (erroneously called “If Ever I Should Leave You” in the Golden Globe citation) was nominated and won in the category Best Original Song Written for a Motion Picture, even though it was not written especially for the film.

It was written for the original stage production of Camelot, and all the other nominees were songs especially written for films. This is the only instance in the history of the Golden Globe Awards that this has happened.

Second, even though Richard Burton won a Tony for Best Actor in the stage play and was offered the same part as King Arthur in the film, he turned it down. Richard Harris was magnificent in his performance as King Arthur in the film.

And the revelation? Camelot the play and Camelot the film were both truly inspirational musical productions, but I submit that the story Camelot was much more.

I felt in my heart that Camelot was also a primer in civilized human relationships and personal growth as well as a step forward for humanity. Let me explain.

When King Arthur realizes the relationship between his Queen and his chief knight, he says this, reacting like a man:

“I love them and they answer me with pain and torment. Be it sin or not sin, they betray me in their hearts and that’s far sin enough. I can feel it in their eyes. I can feel it when they speak, and they must pay for it and be punished. I shall not be wounded and not return it in kind! I’m through with feeble hoping! I demand a man’s vengeance!”

Then he calms down and says this, reacting like a king: “Proposition: I’m a king, not a man. And a very civilized king. Could it possibly be civilized to destroy the (ones) I love? Did they ask for this calamity? Can passion be selected?”

In the end, King Arthur takes the high road. He would not punish either of them given his druthers, he realizes he still loves Guenevere and loves his best friend and knight, Lancelot, as a brother.

He cannot, however, stop Guenevere from burning at the stake for her indiscretion. He enlists his confidant King Pellinore to watch and see if Lancelot will attempt to rescue her in time. Thankfully, Lancelot does.

King Arthur sees the wisdom of the Round Table, bringing the knights of the kingdom together to protect the weak rather than fight among themselves at the expense of the weak.

King Arthur sees the wisdom of a legal system that gives the accused his day in court rather than fighting for his life in a duel whether the accused is guilty or innocent. Poor King Pellinore does not understand or accept this precursor to rule by law rather than rule by might.

King Arthur uses his love to overcome his pain and suffering and ultimately loses not only the love of his life but his best friend.

And, most important, despite going into a battle he may well lose and perhaps even die, he has the presence of mind to knight a young man to carry his hope into the future, so his vision will continue.

Is Alan Jay Lerner a great writer of screenplays? Perhaps the best, ever. You decide. Camelot has been on my Top 10 Favorite Movie List for 40 years. Now you know why.

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Sid Miller Wants to Know: What are you voting for?

 

That moment when someone says, “I can’t believe you would vote for Trump”

I simply reply “I’m not voting for Trump.”

I’m voting for the First Amendment and Freedom of Speech.

I’m voting for the Second Amendment and my right to defend my life and my family.

I’m voting for the next Supreme Court Justice(s) to protect the Constitution and the Bill of Rights.

I’m voting for the continued growth of my retirement investments and the stock market.

I’m voting for an end to America’s involvement in foreign conflicts.

I’m voting for the Electoral College & the Republic we live in.

I’m voting for the Police to be respected once again and to ensure Law & Order.

I’m voting for the continued appointment of Federal Judges who respect the Constitution and the Bill of Rights.

I’m voting for our jobs to remain in America and not be outsourced all over again to China, Mexico and other foreign countries.

I’m voting for secure borders and legal immigration.

I’m voting for the Military & the Veterans who fought for this Country to give the American people their freedoms.

I’m voting for the unborn babies that have a right to live.

I’m voting for continued peace progress in the Middle East.

I’m voting to fight against human/child trafficking.

I’m voting for Freedom of Religion.

I’m voting for the American Flag that is disrespected by the “mob.”

I’m voting for the right to speak my opinion & not be censored.

I’m not just voting for one person, I’m voting for the future of my Country.

I’m voting for my children and my grandchildren to ensure their freedoms and their future.

What are you voting for?

About the Source: Sid Miller is the Commissioner of Agriculture in the Great State of Texas.

(Ed’s Note: The current 2020 Presidential Election has been reduced to a choice between our “constitutional republic” form of government and creeping into a “socialist” form of government in America. We should not allow any political party in America to bring advancing socialism—example: The Green New Deal—under the guise of improving our constitutional republic. Every form of socialism as a government in history has failed to advance the welfare of the citizens therein. Smart people know that socialism does not secure our rights as citizens but rather reduces our personal rights to the point where we have none and ultimately end up as a dictatorship.)

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.)