Historic Changes To Your Savings? 🌪

𝑼𝒏𝒇𝒐𝒓𝒕𝒖𝒏𝒂𝒕𝒆𝒍𝒚, 𝒕𝒉𝒆𝒓𝒆’𝒔 𝒏𝒐𝒕 𝒎𝒖𝒄𝒉 𝒕𝒊𝒎𝒆 𝒕𝒐 𝒑𝒓𝒆𝒑𝒂𝒓𝒆..... [logo]( Editor’s note At times, our affiliate partners reach out to the Editors at The Classy Investors with special opportunities for our readers. The message below is one we think you should take a close, serious look at. William Howard Taft was elected the 27th President of the United States (1909-1913) and later became the tenth Chief Justice of the United States (1921-1930), the only person to have served in both of these offices. Distinguished jurist, effective administrator, but poor politician, William Howard Taft spent four uncomfortable years in the White House. Large, jovial, conscientious, he was caught in the intense battles between Progressives and conservatives, and got scant credit for the achievements of his administration. Born in 1857, the son of a distinguished judge, he graduated from Yale, and returned to Cincinnati to study and practice law. He rose in politics through Republican judiciary appointments, through his own competence and availability, and because, as he once wrote facetiously, he always had his “plate the right side up when offices were falling.” But Taft much preferred law to politics. He was appointed a Federal circuit judge at 34. He aspired to be a member of the Supreme Court, but his wife, Helen Herron Taft, held other ambitions for him. His route to the White House was via administrative posts. President McKinley sent him to the Philippines in 1900 as chief civil administrator. Sympathetic toward the Filipinos, he improved the economy, built roads and schools, and gave the people at least some participation in government. Dear Reader, President Roosevelt made him Secretary of War, and by 1907 had decided that Taft should be his successor. The Republican Convention nominated him the next year. Taft disliked the campaign–“one of the most uncomfortable four months of my life.” But he pledged his loyalty to the Roosevelt program, popular in the West, while his brother Charles reassured eastern Republicans. William Jennings Bryan, running on the Democratic ticket for a third time, complained that he was having to oppose two candidates, a western progressive Taft and an eastern conservative Taft. Progressives were pleased with Taft’s election. “Roosevelt has cut enough hay,” they said; “Taft is the man to put it into the barn.” Conservatives were delighted to be rid of Roosevelt–the “mad messiah.” Taft recognized that his techniques would differ from those of his predecessor. Unlike Roosevelt, Taft did not believe in the stretching of Presidential powers. He once commented that Roosevelt “ought more often to have admitted the legal way of reaching the same ends.” As a former Goldman Sachs managing director, I feel it’s my duty to warn you about what may be coming 𝐬𝐨𝐨𝐧. [It 𝐚𝐥𝐥 starts with a 𝐧𝐞𝐰 Presidential executive order, that may directly install MAJOR changes to your bank account.]( Taft alienated many liberal Republicans who later formed the Progressive Party, by defending the Payne-Aldrich Act which unexpectedly continued high tariff rates. A trade agreement with Canada, which Taft pushed through Congress, would have pleased eastern advocates of a low tariff, but the Canadians rejected it. He further antagonized Progressives by upholding his Secretary of the Interior, accused of failing to carry out Roosevelt’s conservation policies. In the angry Progressive onslaught against him, little attention was paid to the fact that his administration initiated 80 antitrust suits and that Congress submitted to the states amendments for a Federal income tax and the direct election of Senators. A postal savings system was established, and the Interstate Commerce Commission was directed to set railroad rates. In 1912, when the Republicans renominated Taft, Roosevelt bolted the party to lead the Progressives, thus guaranteeing the election of Woodrow Wilson. Taft, free of the Presidency, served as Professor of Law at Yale until President Harding made him Chief Justice of the United States, a position he held until just before his death in 1930. To Taft, the appointment was his greatest honor; he wrote: “I don’t remember that I ever was President.” And it’s 𝐚𝐥𝐥 backed by the biggest companies in the world: Citigroup, Ford, MasterCard, Visa, and Coca-Cola. [Cash Panic]( Unfortunately, there’s not much time to prepare. Stephen Roach, former chairman at Morgan Stanley, says: “U.S. living standards are about to be squeezed as 𝐧𝐞𝐯𝐞𝐫 𝐛𝐞𝐟𝐨𝐫𝐞.” Listen, I’m not here to scare you… But I am here to help you prepare. I’ll even reveal the exact steps I’m personally taking — [𝐜𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 for 𝐚𝐥𝐥 the details.]( If you’re worried about soaring inflation, rent increases, credit card debt, and a falling stock market… [Just wait until you see what’s NEXT for America…]( Regards, Nomi Prins Editor, Distortion Report Warren G. Harding, an Ohio Republican, was the 29th President of the United States (1921-1923). Though his term in office was fraught with scandal, including Teapot Dome, Harding embraced technology and was sensitive to the plights of minorities and women. Before his nomination, Warren G. Harding declared, “America’s present need is not heroics, but healing; not nostrums, but normalcy; not revolution, but restoration; not agitation, but adjustment; not surgery, but serenity; not the dramatic, but the dispassionate; not experiment, but equipoise; not submergence in internationality, but sustainment in triumphant nationality….” A Democratic leader, William Gibbs McAdoo, called Harding’s speeches “an army of pompous phrases moving across the landscape in search of an idea.” Their very murkiness was effective, since Harding’s pronouncements remained unclear on the League of Nations, in contrast to the impassioned crusade of the Democratic candidates, Governor James M. Cox of Ohio and Franklin D. Roosevelt. President Polk, disturbed by General Taylor’s informal habits of command and perhaps his Whiggery as well, kept him in northern Mexico and sent an expedition under Gen. Winfield Scott to capture Mexico City. Taylor, incensed, thought that “the battle of Buena Vista opened the road to the city of Mexico and the halls of Montezuma, that others might revel in them.” “Old Rough and Ready’s” homespun ways were political assets. His long military record would appeal to northerners; his ownership of 100 slaves would lure southern votes. He had not committed himself on troublesome issues. The Whigs nominated him to run against the Democratic candidate, Lewis Cass, who favored letting the residents of territories decide for themselves whether they wanted slavery. In protest against Taylor the slaveholder and Cass the advocate of “squatter sovereignty,” northerners who opposed extension of slavery into territories formed a Free Soil Party and nominated Martin Van Buren. In a close election, the Free Soilers pulled enough votes away from Cass to elect Taylor. Although Taylor had subscribed to Whig principles of legislative leadership, he was not inclined to be a puppet of Whig leaders in Congress. He acted at times as though he were above parties and politics. As disheveled as always, Taylor tried to run his administration in the same rule-of-thumb fashion with which he had fought Indians. Traditionally, people could decide whether they wanted slavery when they drew up new state constitutions. Therefore, to end the dispute over slavery in new areas, Taylor urged settlers in New Mexico and California to draft constitutions and apply for statehood, bypassing the territorial stage. Southerners were furious, since neither state constitution was likely to permit slavery; Members of Congress were dismayed, since they felt the President was usurping their policy-making prerogatives. In addition, Taylor’s solution ignored several acute side issues: the northern dislike of the slave market operating in the District of Columbia; and the southern demands for a more stringent fugitive slave law. In February 1850 President Taylor had held a stormy conference with southern leaders who threatened secession. He told them that if necessary to enforce the laws, he personally would lead the Army. Persons “taken in rebellion against the Union, he would hang … with less reluctance than he had hanged deserters and spies in Mexico.” He never wavered. Then events took an unexpected turn. After participating in ceremonies at the Washington Monument on a blistering July 4, Taylor fell ill; within five days he was dead. After his death, the forces of compromise triumphed, but the war Taylor had been willing to face came 11 years later. In it, his only son Richard served as a general in the Confederate Army. The Presidential biographies on WhiteHouse.gov are from “The Presidents of the United States of America,” by Michael Beschloss and Hugh Sidey. Copyright 2009 by the White House Historical Association. 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