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.

Ryan’s Daughter – 4 Stars (Excellent)

“Ryan’s Daughter” is a love story that evolves into a love triangle set in the epic splendor of an isolated village on Ireland’s scenic Dingle Peninsula. Like all love triangles, it ends in a disaster that becomes a tragedy.

Rosy Ryan (Sarah Miles) seeks to find that certain something that is missing in her life and thinks she finds it when she announces her love for her former schoolteacher, Charles Shaughnessy (Robert Mitchum), who is old enough to be her father.

Unfortunately for Rosy, her marriage brings her love but not passion. It is passion she finds when she meets and instantly falls into the arms of Major Randolph Doryan (Christopher Jones), a young British officer assigned to the village.

Major Doryan is a World War I hero who ends up in the village as part of the British occupation while the war continues on in Europe. The villagers resent the British presence and will jump at a chance to fight for their freedom.

Tim O’Leary (Barry Foster) leads a resistance force that awaits the arrival of German weapons so they can finally arm and defend themselves against the British takeover.

The villagers become aware of Rosy’s infidelity through the village idiot Michael (John Mills) who is mute and considered a half-wit, but Michael is clever enough to steal away the major’s uniform and medal while he is busy making love to Rosy in a secluded island cave.

Michael adores Rosy but instinctively knows he has no chance. He feels a kinship with Major Doryan as they both suffer from profound limps. Both the limp and shell shock are from Doryan’s war injuries.

Tom Ryan (Leo McKern) is Rosy’s father and owner of the local pub. He is a big freedom talker who is taken at his word to be a freedom fighter by the rebel leader O’Leary, who leans on him for support in gathering up the German weapons that are dropped off at sea and floating to shore.

You just have to see the storm scene, huge waves are crashing against the rocky shore while villagers are scrambling to recover broken boxes of rifles, bullets and dynamite.

When the rebels seek to haul off the weapons stash, they are met by British soldiers who have been tipped off by Tom Ryan. O’Leary is shot by Major Doryan and captured while trying to escape. It is assumed he will be hung for leading the rebellion.

Once exposed, the villagers consider the unfaithful Rosy to be the “British officer’s whore” as well as a disloyal and dishonorable informant when in fact it is her father. Ryan, whose wife has died, has spoiled his daughter growing up, and it is he who is the silent informer for the British that is never exposed, even when he has an opportunity to save his daughter from harm.

The villagers become a mob and eventually beat up Rosy’s husband Charles, strip Rosy naked and cut off her lovely long hair. This is apparently the ultimate disgrace in an Irish village, being ostracized and then humiliated.

Major Doryan ends up on the beach with Michael who has recovered some dynamite. When Doryan realizes his affair with Rosy is over, he uses the dynamite to commit suicide.

Rosy’s husband is aware of her adultery but hopes it will run its course, and he will be there when it is over. When he finds he is unable to handle it, he decides to leave Rosy. They both know that they must leave the village and are led out of town by Father Collins (Trevor Howard), the Catholic priest.

Director David Lean had to wait a year before a storm dramatic enough appeared on the Atlantic Ocean to film the weapons recovery scene. This turned into a masterpiece of filming by Freddie Young who won an Oscar for his effort.

Cinematographer Freddie Young captures the raw beauty of Ireland with its ocean cliffs, green countryside, lazy pastures and hidden forest love nest. Young shot the film entirely in a 65mm widescreen format and in Super Panavision. It was the last such film shot until 22 years later when Ron Howard filmed “Far and Away” in 1992.

The storm scene is nothing short of spectacular as well as real. Leo McKern (as Rosy’s father Tom) was injured and badly shaken up while filming the storm sequence and nearly drowned. McKern was so upset he vowed never to act again and did not for several years.

The film includes a passionate love scene between Major Doryan and Rosy who was partially exposed (pretty hot for a film released in 1970). In addition to Young’s Oscar, John Mills won an Oscar as Best Supporting Actor for his role as the mute half-wit. Mills bowed at the Academy Awards ceremony when receiving his Oscar and said nothing in the shortest acceptance speech in Oscar history.

Sarah Miles received an Oscar nomination for Best Actress and the film earned another nomination for Best Sound. Mills also won the Golden Globe for Best Supporting Actor. Sarah Miles (Best Actress) and Trevor Howard (Best Supporting Actor) won Golden Globe nominations.

A lot of critics at the time were not kind to David Lean as director of Ryan’s Daughter. Lean was no slouch. He earned two Best Director Oscars for “The Bridge on the River Kwai” and “Lawrence of Arabia”.

Lean was also nominated for a Best Director Oscar for “Doctor Zhivago” which won 5 Oscars and had 4 other nominations. Robert Bolt wrote Doctor Zhivago as well as Ryan’s Daughter and “A Man for All Seasons”. Bolt was twice married to Sarah Miles.

Lean would outperform his critics. He was voted the 9th greatest film director of all time in the BFI (British Film Institute) “Directors Top Directors” poll in 2002.

Ryan’s Daughter is a slow developing romance. The film runs 3 hours and 16 minutes. Like almost all of Lean’s films, Ryan’s Daughter was hugely popular with moviegoers and movie lovers alike.

Ryan’s Daughter is a story about relationships and an epic film worth watching.

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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.)