On Feb 9, 2008, at 12:02 AM, Standing Bear wrote:
Seems a large part of this problem is lack of controls at the exchange
market level.
[snip]
Solution:
1. Go back to commodity based currencies..hard money
2. Make all stock exchange transactions legal only with
actual paper
instruments, no computer trading allowed
3. Re-enact the Glass-Steagal Act and take banks out of the
market
4. Re-enact the old Jacksonian National Bankruptcy Act of 1936
5. Re-enact the old laws forbidding banks to cross state
lines
6. Absolutely forbid the participation of foreign banks in
the United
States except in certain set 'financial port districts'
7. Allow no corporation to own another corporation. This
includes
corporations owning stock. Only individuals own stock
8. Make illegal all electronic funds transfers
9. Re-enact the usury laws and make violations serious
felonies
10. Repeal all so called 'free trade' laws and go back
to tariffs
11 Discourage importation of consumer goods
12 Slam the borders tight
13 Make illegal the taking of money out of the country
The above would seriousely slow down not only the velocity of
money, but
would also keep the country from being literally looted in seconds
by a
hostile power.
[snip]
While much of what you say appears true to me, it is also true that
most economists agree that the standard of living is increased
through free trade. Implementation of the all above remedies,
especially 10 through 13, would cause a severe and immediate
reduction in quality of life, so would be highly unpopular. Also,
little remedial action can happen until election financing is taken
out of the hands of big business and lobbyists, who instigated the
mess in the first place. More difficult is the fact some of these
things now need to happen on an international basis. Just making all
market transactions visible and requiring built in time delays would
take international cooperation on an unprecedented degree, though
implementing 3-6 above would probably reduce the need for
international cooperation to achieve some level of protection for
the US, but likely not without first triggering an international
financial crises of the most severe kind.
What is needed for the US is more yankee innovation plus government
action to increase our competitiveness. Our education system is in
shambles with regard to our competitiveness, in large part because
maintaining discipline is impossible and many high schools turn out
cookie cutter lowest common denominator students without useful job
skills or adequate preparation for college. There is a need to
provide low cost or free web based post secondary school education to
US citizens.
Horace Heffner
http://www.mtaonline.net/~hheffner/
