Will Grigg?s Liberty Minute

April 9, 2008

Until recently it was common to hear people talk about taking cash out of their home by borrowing against the inflated market value of their house. People who used their houses as ATMs in this fashion often lost them to foreclosure.

Some major cities are now blighted with large tracts of repossessed homes that have been rendered unfit for re-sale. Thieves are literally taking money out of foreclosed houses by stripping copper pipes and wiring from them and selling the booty to scrap metal merchants.

The stolen metal is often more valuable than the houses themselves. Three years ago, copper sold at about 70 cents a pound. The price climbed to nearly four dollars a pound in recent weeks.

This new variety of organized crime is called ?metal poaching.? It?s another illustration of the critical ? perhaps terminal ? weakening of the dollar. And thanks to the de-industrialization of our economy, most of the stolen copper is being sold to China.

Let us take back the liberty wherewith Christ has made us free.