Initial reactions to Obama's proposed "regulatory overhaul"?

[Laughing_Man]

Honestly, what is this whole sudden rage about pointing out the susposed private function of the Federal Reserve? Its whole existence was created by government and is sustained by government. Just because the Fed isn’t on the speed dial doesn’t make it some independent institution.

[DD5]

Exactly, it’s quite foolish!

[JB31]

@bbnet

The Fed is more like a partnership between the government and a cartel of big banksters which allow the politicians to spend as much as they want to while hiding the costs to the voters through inflation. The cartel of bankers get to profit from the arrangement by eliminating competition through banking and finance regulations (Peter Schiff’s EuroPac is now facing six digit fines and has been ordered not to hire any more employees), by making ‘loans’ to the government (bonds for fiat currency), and by having foreknowledge of monetary policies (insider trading). With these and other profits, the banksters are also able to control the politicians directly and the masses through a wide web of investments.

Follow the money and you’ll find the answer.

Obomba seems to be just another Chicago gangster lookin out for number one?

Yes, and while the Fed members themselves may not be appointed by the people, they are appointed by people who were appointed by the people. The argument that the Fed is just this separate entity devoid of any conflict of interest caused by political affiliations is a joke. The Fed’s problem is that its goals of managing inflation and trying to sustain infinite demand (they call it aggregate demand management or something) are conflicting goals. Because according to Keynes, as long as a new stream of borrowed or printed money is available to distribute into the system, you will always have increasing demand and full employment, but everyone also knows this is the recipe for an inflation monster. And then, whenever the Fed tries to raise interest rates (which it should do) there is such a huge backlash from the politicians that the Fed can’t even do its job. And then they try to claim that the Fed is devoid of politics? What a joke.

[MagnusTokai]

@Jacob Bloom

Unfortunately, I think a lot of what you said here makes a lot of sense. But it’s that abdication of responsibility that’s such anathema to the concept of freedom. Freedom means that one has choices, but also that one must be responsible for said choices. So basically what you’re saying here is that the modern mainstream liberal approach will ultimately win because people would rather have someone else take care of everything for them. Right?

Ultimately, that approach is unsustainable and all those people who relied on the government will end up suffering when the government collapses under its own weight. So the people living off welfare and depending on the government to provide them with jobs will end up starving because they can’t do anything for themselves. Just like the soviet collapse. Those who are self relient will be better off.

[malgratloprekindle]

“I am optimistic, this will only strengthen the claims the Austrians make and also increase interest in the subject thereby bolstering the numbers.” - Anarchist Cain

If it helps you feel any better, the first round of bailouts, plus an argument about them with Shane Killian was what covert me over to the side of the Free Market.

[wilderness]

@bbnet

(Peter Schiff’s EuroPac is now facing six digit fines and has been ordered not to hire any more employees),

Why? What’s going on here? Any links to stories or articles covering this?

[Poptech]

@wilderness

Why? What’s going on here? Any links to stories or articles covering this?

Freedom Watch 6/17/09 - Peter Schiff fined for Hiring too many people (Video)

[wilderness]

@Poptech

@wilderness

Why? What’s going on here? Any links to stories or articles covering this?

Freedom Watch 6/17/09 - Peter Schiff fined for Hiring too many people (Video)

Thanks Poptech! I’ll save this to watch later. [Y]