If that’s the way I came across, it was not intended. I’m a big proponent of small government and a frequent critic of government fraud and corruption. The big problem is that we have a good constitutional rule of law but we aren’t using it. This is our fault - we let it happen.
“The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government – lest it come to dominate our lives and interests.” – Patrick Henry
Now more than ever, government needs to restrained by the constitution and that’s our job as citizens. To drain the swamp that is Washington D.C., I’d start with the following:
Eliminate all “black budgets” - in 1947 and 1949 we passed the National Security Act and the CIA Act, and those two acts in combination, allowed money to be clawed out of the Federal Government and Federal budget and spent in non-transparent ways…we created a secret way to fund very big projects…and remember, they can borrow as much money as they want.
End the Federal Reserve - their existence is un-constitutional and they are a blight on our economy. By charter, they intervene in all markets via the FOMC and the PPT (Plunge Protection Team). We cannot practice capitalism as long as they continue their manipulations.
Government must pay for itself - no deficits - books to be balanced.
Campaign contributions must be controlled - not sure how.
The two party system needs to become a more party system. Give the debates back to the “Women League of Voters” as they welcomed alternative party candidates. The dems and repubs decide who will attend in our current system.
Accrual basis of accounting used by the government - get them off the “cash basis” of accounting. The accrual basis shows future liabilities.
If the government goes back to its Constitutional limits, that really isn’t necessary. Why bribe a Congressmen if he can’t actually get you special privileges?
Not necessarily. They just need to abolish the special rules that parties have legislated for themselves. Why have official debates at all? I’ve never learned anything about 2 politicians getting 30 seconds to pander to some group or another. You can’t explain a complicated proposal (which is usually statist in nature anyway) in the amount of time you’re given during those debates.
A good idea, but if we ever get a Constitutional limited government, it’s probably not terribly important.
I think they have usurped the government but the private banking cartel is not government - at least not yet. Many of the same people who own and control the private Federal Reserve also own and control most of the western central banks. They also own and control the IMF and BIS (Bank of International Settlements).
The Federal Reserve system was designed to give the illusion that government had some control of it’s operations. The reality is that the New York Branch is omni-powerful, it controls the rate of interest, volume of money, market interventions and they are the connection to the other western central banks.
The central banks, like the Fed, are being consolidated into one huge central bank, probably under the BIS. As this continues, there will be less and less need and relevance for sovereign governments.
“The issue which has swept down the centuries and which will have to be fought sooner or later is the People vs. the Banks” - Lord Acton, Historian and Lord Chief Justice of England in 1875
You are not saying anything new. This is old news. I don’t know of anybody that has not heard of this in this forum. It’s time to learn more. Think about this: Where was the Federal Reserve Act made?
edit: keep in mind you may be able to share something I don’t know about. that much is a given. but understand many of us are well aware of what you are saying. there is much more to this. that’s what many are trying to point out. a shift in your paradigm may end up happening. there are a lot of very intelligient people in this forum.
I think that in this case you are correct. But, I think it’s also important to realize that government has not been fooled by the banks. The Federal Reserve is allowed to exist legally because it comes as a benefit to the government. Namely, without the Federal Reserve the government would have to take less subtle steps to finance their large wars.
Indeed Jonathan. An open collaboration exists. How much one side is trying to control the other side may get complex but it is an obvious symbiotic relationship for the current desires of both sides.
Let me ask you something Larry. Do you think our monetary system was much better under Lincoln’s central bank (lead to extreme inflation), the first and second banks of the United States (Struck down by Jackson), or during the national banking era (which preceded the federal reserve system)? We all know how terrible the FED is, but what about all the other attempts to centrally plan the monetary system? When has central planning ever worked?
Up until the turn of the 19th century, government paid for itself mostly through tariffs and duty’s. That’s not practical now, and besides there is a better way.
The government, through the Treasury, could create all new money free from debt. The banking system could continue but with three important changes.
Banks no longer create money - if they need money, they could borrow it from the government at a modest fee (e.g. - 1%). Banks would mark up their product, like any other business to earn profits. If they borrow at 1% they could lend at say 4-5%, the point is that they would still be profitable businesses.
Fractional lending ended.
Reserves must be kept as a percentage of loans outstanding. This helps protect the system from being over leveraged.
This would create a huge revenue stream for the government. The government could eliminate all income/employment taxes and have enough surplus to fund it’s own operations. A portion of the income could be diverted into public trusts to fund SS and Medicare. The money is not in a “trust” now.
I critiqued this earlier in the thread but you never responded. If the government paid for itself this way, rampant inflation would ensue. No one here believes banks should be allowed to make money out of thin air. However a bank no more “needs” money than any other agent in the economy. To say they should get their money from the government printing press in kind of ridiculous. Should I be able to go to the government because I need money? Banks can be profitable without loans from the government.
Couldn’t agree more.
This is totally unnecessary and completely arbitrary. Successful banks will be able to reasonably calculate the percentage of loans that will be defaulted on and make up those losses through risk premiums in the interest they charge. If they continually take losses on loans then they will go out of business. If a bank wants to go after riskier investments, that’s their decision to make.
Not exactly something most here believe is desirable.
Only at the expense of massive inflation, which steals purchasing power by the same amount taxes would.
Can’t we just get rid of SS and Medicare?
No one paying into the system today is entitled to get anything out of it. There’s no money earmarked for you once the government confiscates it from you.
congress. The Federal Reserve Act was enacted in the buildings that house congress in 1913. The Act was put to a vote and enacted. It became a legitimate entity of government made by Congress/government.
OHH, I feel stupid now. I couldn’t get away from the initial meaning I had given to your words.
So, humm yes it was Congress who enacted the Fed’s act, showing you that your government knew what it was doing.
Still some will tell you that congressmen were fooled and that the act would have never passed if it wasn’t for the absence of a lot of members of Congress on that day?..So they say…
it doesn’t matter. It’s an Act of Congress. All Congressional members could have fallen asleep and fell forward and hit their forehead on the “yes” vote button. That’s how government works. Self-proclaimed representatives vote with their conscience or not. Maybe they ate terrible cold pizza that morning and felt like shitty on everybody that day with pure “yes” votes simply cause they felt like it. The point is, they vote, the government process goes on, and the Act was passed. As they say, the rest is history.[:P]
