They have also used the interstate commerce clause to claim that they have the ability to regulate wheat a farmer grows on his farm to feed his animals. Like Clarence Thomas asked "What cannot be regulated under the interstate commerce clause." That is an excuse, not proper authority as far as I am concerned. They are also probably going to use interstate commerce clause as an excuse to try to force us to buy health insurance. It is not good that we have allowed them to get away from the original intent, which was to regulate interstate commerce, that is make it regular. That means set standard weights and other measures so it was regular and as efficient as possible.
Regardless of the constitutionality ...
Are you freaking kidding me? Your argument is basically, we've been doing evil for a long time, so we might as well continue? One definition of tradition is "an error that is continually compounded".
Again, by the whatever authority that they Federal government set up the FDIC, SEC and regulated banks in the first place.
I don't believe they had that authority and I don't believe the SEC or FDIC should exist. Practially speaking, the FDIC is currently insolvent and it will not get better for them.
TARP shouldn't have happend the way it did. But I believe some form of TARP was necessary or we would be in far worse straits than we are now.
So basically, you believed the propaganda.
The only difference between paper and metal dug out of the ground is that metal is shiny.
Wow. Where to start with this? The paper money in question is backed by nothing. Metal is something. Paper can be backed by something, but that only works if market forces are allowed to work and banks are allowed to fail if they try to defraud the public. The paper/electronic money we use today is devalued at whim. That is theft. The dollar has lost 95% of its value since the Federal Reserve system was created. Gold is still gold. Silver is still silver. In case you can't figure it out, and I wouldn't be surprised if you can't, I am not a gold bug. I don't like fiat currency, whatever it is. Let the market forces work and people will find the money that works. Traditionally that has worked out to be gold or silver over millenia of human existence.
The only way to achieve what you are advocating is no lending at all and a barter economy. No thanks
Wow. You really don't know what a barter economy is. It isn't a barter economy if you use money, whether that's paper deposit certificates, federal reserve notes, or silver.
You know, not everything you read in a book is correct. Especially stuff you read in a macroeconomics voodoo textbook.
Yes, but I believe the court threw that out didn't they?
"Your argument is basically, we've been doing evil for a long time, so we might as well continue? "
Unfortunately that Interstate commerce clause does in fact give the fed's a lot of authority. Did you read my plan for restoring enumerated powers?
"So basically, you believed the propaganda."
No I have MBA from a top 20 business school concentrated in Finance. I understand banking and the economy and money creation very well.