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.

Pirates of the Caribbean: The Curse of the Black Pearl – 4 Stars (Excellent)

“The Pirates of the Caribbean: The Curse of the Black Pearl” is hands down the best pirate movie ever made, earning 5 Oscar nominations, and Johnny Depp as Captain Jack Sparrow delivered the best pirate performance ever. Johnny Depp looks and acts like a very likeable pirate, and his wearing of the costume and persona is second to none.

Most pirate films rely heavily on the story line and action to carry the film, but Johnny Depp trumps the story line and action in creating a centerpiece character around which only good things happen.

Every cast member and the story itself become better beside Depp who appears as if this role was waiting for him to arrive and become a superstar entertainer and box office smash.

Pirates of the Caribbean: The Curse of the Black Pearl captured and held my imagination from beginning to end. Even the supernatural in the film seems believable and real; the film under the direction of Gore Verbinski is that well done.

The story is really about Captain Jack Sparrow losing his ship (The Black Pearl), and embarking on a quest to find and win The Black Pearl back from his rival, Captain Hector Barbossa (played by Geoffrey Rush) who has pirated the ship away and left Captain Jack marooned on an island.

Along the way Captain Jack survives his banishment and helps save Elizabeth Swann (Keira Knightly), Governor Weatherby Swann’s (Jonathan Pryce) daughter, who is kidnapped by Captain Barbossa.

Also chasing Elizabeth is the dashing Will Turner (Orlando Bloom), a blacksmith who enlists the aid of Captain Jack Sparrow to find his lifelong love. Bloom is chasing Elizabeth, but Captain Jack is really chasing the treasure that Barbossa found first. Barbossa and his crew spent the treasure—882 Aztec coins—only to find it cursed, rendering them immortal skeletal beings whose true forms are only revealed in the moonlight.

The curse can only be lifted by returning every coin taken from the chest with a droplet of each pirate’s blood. None of those chasing Captain Barbossa and his crew know that they are under a curse. Elizabeth has 1 of the 882 coins, which she took from Will when he was rescued at sea. Before the chase is over, Will also gains back his coin and tries to use it to bargain for Elizabeth’s freedom.

Barbossa takes Will to Isla de Muerta (Spanish for Island of the Dead) to break the curse. In an ensuing fight, Captain Jack and Will manage to break the curse. Barbossa returns to being mortal and Captain Jack shoots and kills him.

And the end? Will reunites with Elizabeth and Captain Jack returns to his Black Pearl and freedom. What could be better? Under the direction of Verbinski, the movie is filled with interesting characters who collectively help make this film great entertainment.

Among the characters are Joshamee Gibbs (Kevin McNally), Jack Sparrow’s friend and first mate; Pintel (Lee Arenberg), a seedy looking pirate aboard the Black Pearl; Ragetti (Mackenzie Crook), Pintel’s buddy with a wooden eye that never seems to stay in place; and Murtogg (Giles New) and Mullroy (Angus Barnett), a couple of Royal Navy inept goofballs.

The Curse of the Black Pearl has great writing, directing, acting, photography, suspense, action, surprise and a musical score to match. It was Depp who improvised Jack Sparrow’s catch phrase, “Savvy?”, which has already become legend in the movie world.

Depp earned a Best Actor Oscar nomination following release of the film in 2003, but did not win, mainly because he chooses not to live in Hollywood and practice the art of kissing up, sucking up, and putting on a public display of importance.

The Curse of the Black Pearl also received Oscar nominations for Best Makeup, Best Sound Editing, Best Sound Mixing and Best Visual Effects. Despite its 5 nominations, it did not win a single Oscar.

Credit Verbinski with hanging tough. He was attracted to the idea of using modern technology to resurrect a genre that had disappeared after the Golden Age of Hollywood. Depp was attracted to the story because it was quirky: rather than trying to find treasure the crew of the Black Pearl was trying to return it in order to break its curse.

After researching 18th Century pirates, Depp compared them to modern rock stars and decided to base his performance on his friend Keith Richards, playing Captain Jack in an off-kilter manner.

Disney executives were apparently confused, asking Depp whether his character was drunk or gay, and Michael Eisner even proclaimed “He’s ruining the film” when watching rushes.

Depp shot back, saying “Look, these are the choices I made. You know my work. So either trust me or give me the boot.”

Eisner wised up and took his head out of his backside. The Curse of the Black Pearl grossed approximately $47 million opening weekend before doing $305 million in the United States and $654 million worldwide, becoming the 4th highest grossing film of 2003.

The Curse of the Black Pearl became the 22nd highest grossing film in USA film history at the time, pretty improbable for a pirate flick, but then there is Johnny Depp as Captain Jack Sparrow.

I have seen this film three times and would see it a fourth, which is really saying something for me.

Leave a Reply

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.)