Posted by
Tim Blessing on Sunday, February 21, 2010 8:17:16 PM
The National Economy.
National Output.
All Goods and Services produced
throughout the United States and its
territories.
All American Businesses large, medium,
and small.
All Individuals involved in economic
activity in the United States.
Right now, the US Economy produces
$15 Trillion of goods and services.
2/3s is Consumer and 1/3 is Manufacturing.
Money and the Banking System.
The Dollar's value is based on the public's
faith in it.
It is not tied in value to the gold supply.
Banks are international, national, state, county,
and city.
International and National Banks are regulated
by the Federal Government.
Statewide Banks are regulated by individual
state governments.
And so on.
The Banking System is complex that includes
a host of financial services.
Should Banks be regulated by Government.
Banks control the blood that circulates throughout
the economy the money.
This affects businesses and individuals.
If the government actively interfere's in the economy
then it distort's economic activity.
I would say it is against the Constitution to regulate
banks. I would say it is necessary to take a more
active interest in the banks than other industries
do to their critical function in the economy.
I would say financial services requires federal supervision
of some sort, but what is within the bounds of the
Constitution.
They affect too many things to be left totally to their
own devices, but the government has proven in the
last 50 years or so it cannot manage much right.
President appoints a federal official to supervise financial services.
President appoints a board to supervise a financial services civil service.
The Senate advises and consents.
Congress legislates a budget.
Federal Officials handle licenses of financial services institutions.
Federal Officials monitor financial activities.
Federal Officials can suspend licenses.
Federal Officials turn criminal actions over to Justice Dept.
Justice Dept takes Financial Services Institution individuals
and corporation to court.
Courts determine guilt, innocence, and sentencing.
That's the way it should work under our constitution.
These quasi judicial, executive, and legislative civil service
bureaucracies should not totally control the private
sector.
No checks and balances.
The Role of Government is to provide security for
positive economic activity.
It should not interfere in any way with economic
activity, except criminal or systematic civil violations.
This is what the Constitution would mandate if
followed properly.
Unfortunately, the government and private sector
are so intertwined it would not be easy to end
the incestous relationship.