Still a Stormy Case of ‘Word is Bond’

In former President Donald Trump’s universe, the past 24 hours have been a severe case of, shall we say, “Stormy weather.”

Now, as much as I would like to say this salacious case of the alleged Trump-Stormy Daniels hush money payment and election interference trial isn’t on my mind, how could it not be? I mean, the optics here are astounding, and the fact that we are still dealing with this sordid issue after all these years is, in my view, sad on multiple levels.

Interestingly, last night, I was speaking with a friend who is also a regular reader of The Deep Woods. He reminded me that he really liked what I had written about this Stormy Daniels issue a few years ago. Now, I must confess that I vaguely remembered the details of what I had written. I mean, when you write as much as I do, it’s actually hard to keep track of it all.

So, I looked up my original article on the Trump-Stormy Daniels issue. Not surprisingly, I was pleased with what I had written, because true to The Deep Woods form, it wasn’t about the surface level details of the incident, but rather about the underlying principles at issue. In this case, the underlying, deeper issue involved is when someone fails to keep their word.

Today, I want to republish my original piece for you, as what it said about the sacrosanct concept of keeping your word, or what I call, “word is bond,” and the failure of so many to live that principle in earnest, is one of the deepest wounds afflicting society. And given that this situation is front and center in every news source around the globe today, these thoughts still very much apply to the events of the day.

So, the following is my article, “The Recent Storm of Contract Dysfunction,” which was originally published March 28, 2018, (all references therein apply to that time period). One interesting note is that the Trump-Stormy Daniels issue addressed here is far less important in the long run than the deeper issue pertaining to the Second Amendment. The former could definitely influence the election in November, while the latter could influence your rights as Americans — permanently.

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Word is bond.

That’s the phrase that keeps coming to mind for me amidst the two most prominent political stories of the day — the Stormy Daniels affair and the latest push to restrict gun rights.

Now, “word is bond” is urban slang shorthand for the longer phrase “your word is your bond,” meaning that if you give someone your word, then you also are giving them your solemn promise.

In the case of Stormy Daniels, the former adult film actress gave her legal promise (which included the signing of a non-disclosure agreement, or NDA) that she would not reveal the details of her alleged affair with Donald Trump. In exchange for that promise, Daniels would receive the sum of $130,000.

That payment was made, yet Daniels still talked.

Her recent appearance on “60 Minutes” was just the latest violation of the word-is-bond ethic.

Now, I want to go on record here as saying that I think the whole Stormy Daniels/Donald Trump incident is repugnant on many fronts. And I am most definitely not arguing for the propriety of Mr. Trump and his associates in this matter. I also am not an attorney, so I can’t attest to the relevance of any lack of signature on the agreement by Donald Trump via an alias, or to whether that legally invalidates the contract. These legal intricacies are all extraneous to my concerns.

What I am saying is that when you make an agreement with another party, and then you violate your part of the agreement, you are guilty of what I consider the most serious ethical breach… i.e., the breach of “word is bond.”

In my own business career, I have signed many NDAs having to do with the trade secrets, methods and practices of my employers. And if I were to violate those agreements, I would rightly deserve the social and legal scorn coming to me.

Call me old fashioned, but I believe the principle that “word is bond” is sacrosanct.

I also believe that when it comes to our rights as Americans, the word-is-bond ethic also applies. That’s why it’s been disturbing to me to see the latest push for a restriction of our Second Amendment rights.

The March for Our Lives protest last weekend in Washington, D.C., and in dozens of cities around the world, has focused attention on ending the horrific gun violence and mass shooting incidents that afflict our society. And while I sympathize and agree with the need to make our society safer for all Americans, I also can’t help but think that the focus on restricting gun rights is a violation of the word-is-bond ethic in the United States Constitution.

You see, the Founding Fathers were intent on creating a nation free from government tyranny.

That’s why it is no accident that the ability to speak freely (the First Amendment) as well as the means by which to protect oneself from government-initiated physical force (the Second Amendment) are bedrock foundations of a tyranny-free state.

I see the Constitution as a kind of word-is-bond agreement between the Founders and future generations of Americans. A word-is-bond agreement that ensures and safeguards our liberties better than any other document in world history. Now, however, there are those who wish to essentially default on that agreement because they think it will make society safer.

Indeed, even a former Supreme Court justice thinks we should alter our Constitutional bond, arguing that the Second Amendment is a “relic of the 18th century.”

Of course, part of the brilliance of the Constitution is the provisions in it that allows Americans to alter that agreement provided there is enough consensus. So, if we want to have that debate, then we should have it.

If we do, I suspect we’ll discover the true wisdom in the concluding text of our Founders’ promise, “…the right of the people to keep and bear Arms, shall not be infringed.”

Word is bond.

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Somebody That I Used to Know

Now and then I think of all the times you screwed me over
But had me believing it was always something that I’d done
And I don’t wanna live that way
Reading into every word you say
You said that you could let it go
And I wouldn’t catch you hung up on somebody that you used to know…

–Gotye, “Somebody That I Used to Know”

People change, circumstances change and conditions are constantly changing. There are those that you once knew intimately but that now have become “somebody that you used to know.” While this can be a trying development in one’s life, it is neither uncommon nor infrequent. So, when approaching these situations, try to be as objective as possible by assessing the reality of the now, and not the reality that was somebody that you used to know. Doing so will save you a whole lot of time, heartache and spent energy. And in case you were wondering, yes, I speak from experience.

Wisdom about money, investing and life can be found anywhere. If you have a good quote that you’d like me to share with your fellow readers, send it to me, along with any comments, questions and suggestions you have about my newsletters, seminars or anything else. Click here to ask Jim.

P.S.  I will be holding a special subscribers-only teleconference on May 15 at 1:00 p.m. entitled “Making Triple-Digit Wins Despite a Higher-for-Longer Interest Rate Environment.” The event is free to attend, but you must register here. Don’t miss out!

In the name of the best within us,

Jim Woods