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Old 02-12-2010, 12:08 PM   #1
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Default Gov't/Banks Outrage du Jour

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Old 02-12-2010, 12:17 PM   #2
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what?! the govt is corrupt and out to **** you?

look at the pension schemes in CA, then shoot yourself.
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Old 02-12-2010, 01:08 PM   #3
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The reason the gov't can do this crap is because of the unholy gov't/big-finance alliance, made possible by the FED. In this country, the idea of gov't / big biz alliance and empire goes back to Alexander Hamilton (Thomas Jefferson's philosophical enemy).

The FED has a gov't licensed monopoly to print money. In return gov't gets a blank check to pay for all kinds of pork, welfare and warfare, blank checks funded by money created out of nothing, whose perpetual interest payments are paid with the income tax on wages. (The FED and the progressive income tax were created the same year - 1913 - no coincidence - gov't would need a new income stream to pay for the central bank).

The FED is the enforcement arm of a banking cartel. So what you are witnessing, are the antics of a cartel. The real purpose of the FED, is to protect the biggest banks. That is, protect them from free market competition, from their smaller competitors (smaller banks), protect them from losses due to highly profitable but highly risky ventures with implicit bailout guarantees.


Modern central banking is probably history's greatest, longest running scam. It is the only institution that is protected from nations' own legislatures - they call it "privacy", which really is "secrecy". That makes them completely undemocratic.

Bankers, bureaucrats, and tyrants throughout history have constantly wanted to control money and inflate it to profit from it. (e.g. put emperor's faces on gold coins then shave them to produce new coins) The coup was when the concept of the central bank was invented - a cartel protected by gov't itself:

If you wanna understand money and central banking's history, read this short free book:
What Has Government Done to Our Money?
http://mises.org/books/whathasgovernmentdone.pdf

"more regulation" is never gonna work, because the corruption is inherent in the system.
The way to get around this system is to (1) audit the FED and (2) repeal legal tender laws and get rid of fees and taxes on conversion to and from USD, gold, and silver. (both bills are in congress!)

This will allow competition against the USD and will put a crimp on the FED debasing the currency. (This is why bankers and gov't hate any kind of commodity standard, it's a crimp on inflating the money supply, which is key for the financial parasites to profit)
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Old 02-12-2010, 02:04 PM   #4
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Quote:
Originally Posted by Braineack View Post
what?! the govt is corrupt and out to **** you?
There's a distressing number of folks here that don't understand that. This is for them.
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Old 02-12-2010, 02:14 PM   #5
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Quote:
Originally Posted by xturner View Post
There's a distressing number of folks here that don't understand that. This is for them.
It is called Public Choice Theory in Economics. GMU has a Nobel laureate that did most of the pioneering of Public Choice.
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Old 02-12-2010, 02:36 PM   #6
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The Wikipedia article seems pretty good
Public choice theory - Wikipedia, the free encyclopedia
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Old 02-12-2010, 02:37 PM   #7
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when +40% of people don't pay taxes and get 100% of the tax benefits why wouldn't they love govt or give a **** that politicians are in it for self gain?
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Old 02-12-2010, 04:30 PM   #8
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Quote:
Government is the great fiction through which everybody endeavors to live at the expense of everybody else.
- Frederic Bastiat, 1801-1850

Unfrotunately the "liberals" falsely believe that gov't is a force for good "if only the voters vote for the right party". Scum always rise to power, and public choice theory above explains how the road to hell is paved with good intentions.

Socialism requires a benevolent, supremely intelligent dictator to work. Because the latter does not exist, a true free market is the next best thing (do not confuse Corporatism with Free Market Capitalism).

If you want to read more about the inherent problems of welfarism and socialism, read this:
The Life and Work of Frederic Bastiat
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Old 02-12-2010, 04:51 PM   #9
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serfdom?
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Old 02-12-2010, 04:58 PM   #10
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That was Hayek. Here's an graphic version of his famous book "The Road to Serfdom":

The Illustrated Road to Serfdom
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