“Modern Snake Oil” and the $150 Trillion Mirage: A Scam Dressed in Red, White, and Blue

As a child, my grandpa warned me and my sisters, brother and cousins about “snake oil salesmen”—slick-talking men who went door to door hawking miracle tonics that promised to cure everything from baldness to tuberculosis. Most of the time, the bottle contained nothing but mineral oil and spices. But it was never really about what was in the bottle. It was about the story being sold.

Fast-forward to today, and the snake oil is digital.

You may have come across a video or article recently claiming that there’s a $150 trillion “birthright trust fund”connected to mining wealth on U.S. federal land—allegedly set up by the 42nd Congress (back in the 1870s), only now accessible thanks to recent Supreme Court rulings and political changes.

It’s a tantalizing story: a secret treasure chest of national wealth, hidden in plain sight, just waiting to be claimed by everyday Americans. All you have to do to learn how to access your share is… subscribe to a paid newsletter.

Sound familiar?

🎩 A Classic Sleight of Hand

This modern “opportunity” is being promoted by Paradigm Press and financial writer Jim Rickards, who has a reputation for sensational predictions and marketing that walks the tightrope between truth and fiction.

Here’s the bait:

  • America has untapped mineral wealth on federal land (true).
  • The 1872 Mining Law allows companies to extract these resources cheaply (true).
  • The U.S. Supreme Court recently weakened agency power via the Chevron case (true).
  • Therefore, this somehow creates a $150 trillion “trust fund” for the people (false).

The logic leap is dizzying. There is no federal trust fund filled with mineral riches earmarked for Americans. No law—past or present—creates a personal entitlement to mining profits from public land. The 1872 Mining Law actually enables private companies to stake claims and take resources, often paying nothing in royalties.

Rickards cleverly repackages legal facts and economic realities into a mythical payout, then tells you how to get your share—if only you’ll sign up for a subscription.

🧂 Why This Kind of Hype Persists

The idea of a hidden fortune being unlocked “any day now” has timeless appeal. During the Great Depression, people were suckered by false inheritance claims, phony land deeds, and miracle investment schemes. In every generation, the sales pitch gets updated for the times.

Today’s snake oil doesn’t come in a bottle—it comes in a newsletter disguised as an economic “briefing.”

👩‍🏫 A Word to Young People

If you’re just coming of age in today’s complicated world, here’s the rule I live by:

The bigger the promise, the closer you should look.

Marketing disguised as truth is rampant online. Anyone claiming that a trillion-dollar windfall is just waiting for you to unlock with their “secret” has something to sell you—and it’s probably not wisdom.

✅ What’s Actually True

  • The U.S. does lease federal land for mining, oil, and gas.
  • Revenues from these leases go to the U.S. Treasury, states, and special programs like water reclamation—not to individual citizens.
  • The 1872 Mining Law is still on the books, but it’s widely criticized for giving away public resources, not preserving them for the people.
  • The Supreme Court’s Chevron decision will impact agency power, but it doesn’t magically “unlock” a trust fund.

📚 References for Deeper Understanding

🔗 The 1872 Mining Law

🔗 Chevron Deference & Supreme Court Ruling

🔗 Historical Scams & Snake Oil Salesmen

✨ Final Thought

The truth is, there is no shortcut to wealth that comes from wishful thinking. But there is tremendous value in developing discernment—and that, young friends, is a real birthright worth claiming.

Let’s call this what it is: modern snake oil.

And let’s make sure it stops at our door.

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