The Creation of the Federal Reserve System (Part 5)

Discussion in 'Political Opinions & Beliefs' started by Dr. Righteous, Feb 21, 2012.

  1. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
  2. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    The U.S. never had free banking at any point after the Constitution was ratified.
     
  3. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    The key here is "in our form of government". Our form of government does not allow a free market, it allows for a corporatist market. We would have to change many things about our government in order to have a free market.

    There would be no tax loopholes because the income tax wouldn't exist in a free market. But there is nothing that can be done about individuals illegally bribing elected officials, purchasing priviledges, no matter what form of government exists. That is one reason why government is inherently corrupt. Voters are the only way to hold these officials accountable.
     
  4. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    So, when you refer to a "free market" are you actually advocating an AnCap?
     
  5. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    No. I'm advocating a free market which is compatible with the Constitution.
     
  6. constructionguy

    constructionguy New Member

    Joined:
    Oct 26, 2011
    Messages:
    84
    Likes Received:
    2
    Trophy Points:
    0
    True...true, but laid at the voters feet for accountability, one finds that the majority simply don't care enough anymore.....and thats a sad state of affairs.

    On a side note, just want to say this is one of the best discussions I have seen in regards to how our banking system works. Kudo's to all taking part and I sincerely hope many learn a few things.
     
  7. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    Due to the failing of state education, the state obviously cannot be relied upon to educate the people on the failings of the state. It's up to the people to educate themselves and their children.
     
  8. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    How do you account for the delegated power to Regulate forms of Commerce among the several States of the Union?
     
  9. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    There is no such power in the Constitution. It's based on a misinterpretation by the Supreme Court of the word "regulate", which meant, in the founders' time, "to make regular"; not to impose government controls.
     
  10. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    It is disingenuous to claim to believe that ensuring any wellness of regulation may not involve the coercive use of force of the State.
     
  11. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    Why do you word sentences so awkwardly?

    I never said anything of the sort. You're putting words in my mouth.
     
  12. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    I am merely offering one rebuttal to your perceived need to distinguish between forms of Capitalism, under any system of capital based markets.
     
  13. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    Why? They're two radically different economic systems.
     
  14. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    How radically different can they be, if they are both forms of Capitalism?
     
  15. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    Depends on how you define "capitalism".
     
  16. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    I think the political science definition may suffice for now.
     
  17. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    There are multiple different "political science" definitions of capitalism.
     
  18. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    I don't mind working with this definition for now.

     
  19. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    It appears that your definition is the definition that most closely resembles the free market definition.

    The US doesn't have competetive markets.
    The US doesn't have voluntary exchange.
     
  20. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    How about this part?

    From my perspective, markets are voluntary if the coercive use of force of the State is not involved in the exchange. And, many markets must be competitive to the extent there is any substitute ability of goods and service and any form of price discrimination.

    You are welcome to discuss this and present your point of view.
     
  21. snooop

    snooop New Member

    Joined:
    Dec 10, 2011
    Messages:
    2,337
    Likes Received:
    19
    Trophy Points:
    0
    Bump!!

    Ben The Printer and his co will meet next week. As unemployment shows some signs of life recently, market predicts that Ben will put QE3 on "HOLD" for now.

    Elsewhere, last month, consumers borrowing jump to highest level since 2008. Most of them are student loans, another credit bubble is about to burst :no:
     
  22. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    The coercive force of the state is involved in free markets too. It needs to be in order to enforce contracts.
     
  23. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    Well, if you are going to use that line of reasoning, why do you even believe in free markets?
     
  24. Dr. Righteous

    Dr. Righteous Well-Known Member

    Joined:
    Jun 30, 2010
    Messages:
    10,545
    Likes Received:
    213
    Trophy Points:
    63
    Gender:
    Male
    I suppose that depends on how you define "free market".
     
  25. danielpalos

    danielpalos Banned

    Joined:
    Dec 24, 2009
    Messages:
    43,110
    Likes Received:
    459
    Trophy Points:
    83
    Gender:
    Male
    What is your opinion of resorting to public sector intervention in private sector markets for the purpose of ensuring full employment of resources in any given market, and claim it is promoting the general welfare and general prosperity of the republic?
     

Share This Page