We recently had the opportunity
to sit down with Elliott Schuchardt, and ask him a few questions. The interview went as follows.
You are the author of America's Achilles Heel, a book about the dollar. Why did
you write the book?
For
a long time, I have wondered how the United States could close its steel mills,
and replace them with shopping malls selling imported goods. I couldn’t understand why the dollar remained
high, and the United States could import so many goods.
I
became really concerned when I started looking at the numbers. If the dollar were to fall in value by 70%,
then the price of good imported to the United States would triple. So, clearly the value of the dollar is very
important to our standard of living.
When
I started digging into the question, I realized that the dollar was being
artificially sustained by the world’s use of the dollar as the primary reserve
currency. The oil market alone creates
over $5 billion of artificially demand for the dollar every day. If the oil market were to sell oil in a
currency other than the dollar, then the value of our currency would drop – and
quickly. Given our dependence upon
imported oil and goods, our country could be in a very dangerous situation.
How long did it take you to write
the book?
I started worrying about the dollar in 2008, at the time of
Global Financial Crisis. At that time, American
leaders were moving large numbers of manufacturing jobs offshore. I started writing in earnest about two years
ago. The project was much harder than I
expected. It’s kind of like rowing a
boat across the Atlantic. You work hard
all day long, and – at the end of the day – it seems like you have made no
progress at all. You just have to have
faith that you are going in the right direction.
Why are
you running for office?
I
am running to ensure that Tennessee is ready, when the United States loses the
reserve currency. Since 1980, the United
States has become dependent upon imported computers, cell phones, clothing and
car parts. We need to think through our
supply chains, and make sure that they are sustainable.
What
would you change in the Tennessee law?
I
think we need an elected attorney general in the State. Almost every state in the United States
allows its people to elect the state attorney general. Tennessee is different – the attorney general
is appointed by government employees. As
a result, the attorney general defends government insiders, rather than
the people. That needs to change. We
also need to change the state’s law of defamation. Current law says that a judge can make
findings of fact, without holding a hearing.
That too needs to change. The law
simply does not comply with due process.
What is
your favorite book?
Years
ago, in high school, I read John Steinbeck’s The Grapes of Wrath. The book tells the story of the Joad family,
as it flees the Dust Bowl in the 1930s.
The book was eye-opening. People actually
starved to death in the United States – within living memory. As a nation, we have to remember these
lessons. We have to make sure we have
factories in America, so that we can produce for ourselves. In a balance of payments crisis, goods won’t
be coming in from overseas.
What is
your favorite movie?
I
like all the old classics – the Star Wars trilogy, Indiana Jones, and
The Godfather – Part II. I have
recently become a fan of older, black-and-white films, from earlier in the 20th
century. Our parents produced some
pretty good cinema, that is definitely worth watching.
Anything in particular?
Sunset
Boulevard, from
1950, is really good. Humphrey Bogart’s performance in the Caine Mutiny and
Key Largo are worth watching. I
am a big fan of Bogart. Alfred Hitchcock
had some great stuff. The old version of
Cape Fear, with Gregory Peck, is worth watching.
What do
you like about living in eastern Tennessee?
Eastern
Tennessee is quite amazing. We have the
mountains and Pigeon Forge located close by.
Knoxville has done a great job of rejuvenating its downtown. Market Square, Gay Street and the Old City
are tremendous accomplishments that are quite interesting. We are lucky to have some beautiful
architecture that has survived, and been repurposed in recent years.
What do
you like best about the campaign?
This
is my first election, so it’s been a steep learning curve. Fortunately, I enjoy meeting people. Over the last few months, I have met a large
number of people in Knox County, Tennessee.
This has been a lot of fun. Everyone
has a different story, and I enjoy hearing them.
Tell us
a little about yourself.
I
enjoy learning. I recently took a class
on how to be a home electrician. I was
astonished at how complicated the industry is.
All the mathematics and different types of wires! I have a great deal of respect for people who
do this sort of thing for a living.
Describe
yourself in three words.
Driven. Friendly. Curious.
If you
could meet someone living or dead, who would it be and why?
I
used to practice law with a lawyer named Robert Lampl. Robert was what we would call a “lawyer’s
lawyer.” When the judges got into
trouble, they would go to Robert for representation. That was an astonishing achievement on his
part, showing how respected he was. Sadly,
Robert passed away a few years ago. It
would be great to chat with him again, and get his opinion on current events.
Any
other goals?
I
recently wrote a screenplay that portrays an 80% collapse in the value of the
U.S. dollar. The film is intended to be
a warning to the United States, like the films On the Beach, Dr.
Strangelove and The Day After warned of the risks of nuclear war.
The dangers are different today – but we still need to be prepared. I am reaching out to people in the
entertainment community to get the film produced – hopefully in time to be
effective.
Who has
been the biggest influence on your life?
I
am a fan of Earl Nightengale. He was a
radio announcer in the early 1960s. For
five minutes every day, Earl Nightengale would tell his listeners about “Our
Changing World.” Nightengale encouraged
continuous learning. He suggested having
a shelf of books in your field. I have
always thought that was a good idea.
