More Corruption on Wall Street / Madoff / The Gold Standard

[johnsmdm]

I'm sorry I said..

[johnsmdm]

Mr. Ralph sir, we are worried you may have antijew leanings sir, please clarify your position sir?

[Ralphdraw3]

Not to worry, I am not anti-Jewish.

I am, however, opposed to any small group of people, religiously based - such the Mormon fundalmentalists, or the Southern Baptist Convention or the NeoConservative Zionists - or otherwise, who try to ram down their politico-religious agenda on the entire nation.

Any questions on my position?

[gonjamon99]

Peter Schiff recently said that too much regulation caused complacency in the case of Madoff's Ponzi scheme. This is as absurd as saying that the existence of the police force causes murder and thievery. Something is misfiring in these Ron Paul cultist brains.

[kemosavvy]

i'd really have to see the article where schiff said that 'too much regulation caused this'. i have a hard time believing that since madoff operated a hedge fund to sophisticated investors, there is very lttle reg's by the sec for hedge funds.

[gonjamon99]

Maybe, I didn't phrase myself correctly: He said that complacency was caused by regulation and the magnitude of the disaster was caused by the complacency. That's TRUE. But you can't go from there to arguing for deregulation. Sorry, but I didn't write my original comment right. Schiff's comment is in an interview on AlJazeeraEnglish. He's interviewed alongside a hedge fund expert lady and some gloomy guy with an accent (not Faber though :]).

[Ralphdraw3]

Madoff - was working both sides of the Wall Street fence: the regulated side and the unregulated side.

Chris Cox has already said that the SEC had screwed up regarding Madoff and his operation. Apparently some complaints against Madoff had been filed at the SEC - years ago, but nothing had happened and no action was taken.

[EMPIRE0FLIES]

You cant control corruption in business but you can punish corruption by letting them go bankrupt. Greed is human nature. Let people capitalize on other peoples failure. Its actually very simple. You dont work, you dont eat.

[ChrisKalhoun]

Sorry Ralph, but that was a poor attempt at making a point. With all the wondering and random thoughts and interruptions, still having trouble trying to understand your point in all this except to say that there is this corruption on Walstreet. But this is common knowledge and goes on daily in corporatism as in politics. Ron Paul doesn't talk about it because it's redundant. I mean whats the point of talkng about it when you have bigger problems like the Fed and the structure of the government?

[Ralphdraw3]

My points:

1) Wall Street is corrupt

2) Rich people do stupid things

3) Wall STreet needs to be regulated and new laws need to be passed

4) the working class and the middle class are getting screwed

5) I didn't say this in the video BUT there is an unhealthy concentration of wealthy in a few hands

and

6) Ron Paul better START TALKING ( at least) about business corruption.... but he doesn't want to do. Paul likes to kiss the feet of business and the wealthy.

[ChrisKalhoun]

I see. Well thank you for clarifying that. It was a little hazey on what exactly your points were. Well, all of this is good and valid points and like the government, wallstreet does need to be regulated. You're absolutely right, but I think Ron Paul has enough on his plate right now with the corruption in Government and the Fed, then to concern himself with the smaller problem of Wallstreet. The problems of Wallstreet will go away only after they deal with the people behind of this.

[qanazir]

Sorry Ron Paul supporters but Marx has once again been proven right.

You can't trust capitalists, keep an eye on them.

[chewbaca1989]

We don't trust Marxists we don't trust Capitalists. We believe in the rule of Law and individual rights, and property rights. Big centralized government and regulation plus private Centralized banks are the doom of us. Individual rights are paramount.

[Ralphdraw3]

Do you care about unemployment and poverty and social injustice?

Do you care about an American plutocracy, which is what we seem to have in this country?

[KamikazeKoscki]

You only get as much justice as you can afford, is against the Constitution and the American people should be in outraged over this evilness. Revolting is necessary, otherwise the Rothchilds will continue to make laws with loop holes and unjust laws, which is happening right now throughout the USA. Or you become a lawyer and sue these corporate hitlers or simply serve on a jury or gandjury and fry these greedy green bloody evil folks.

[KamikazeKoscki]

A forensic Auditor can investigate the books and capture the corpoate hitlers. The SEC, Security Exchange commission is suppose to regulate these corporations, but even the Republican judges are ignoring evidence in court. The fall of Rome is here. Henry the forth said the first thing we ought to do is kill all the lawyers. We need world class law firms to regulate more and therefore some how we need to become lawyers, and start up lawfirms. Vote out corrupt judges.

[bbburton]

You're a lying sack of shit. Corruption in business and government has been at the top of the list of things complained about by Ron Paul and his supporters. Post your crap to those who believe your lies.

[Ralphdraw3]

Spoken like a true fanatic!!!

Your Dear Leader will take care of everything!!!

[chewbaca1989]

No, Dr. Paul will not take care of anything. It is up to Americans to uphold the rule of law the Constitution.

Fanatic

[Ralphdraw3]

The constitution was written by, among others, several slave owners - and slavery is enshrined in the constitution in several clauses (the 3/5's "person" clause; the importation of slave clause; the fugitive slave clause etc..). It is an imperfect document.

The constitution was also written , by and large, by Rich Men. Women and non-property holders were excluded...

[Ralphdraw3]

Lies?

Check out Cross of Gold speech...

[dabatjelly]

our current standard wouldn't be so bad if it wasn't owned and controlled by corrupt corporations... power needs to be better regulated... how you can do this? I have no clue and I have no answers... just one person... personally the federal trade act was one of the worst things that has ever happened to america... but I don't know how to fix it or make parts of it less corrupt... just wish something could be done for once...

[Ralphdraw3]

The American "corporate" system of business is in collapse IMHO.

Top management is over-paid and suffers no risk/penalty for failure (they get bonuses, severance and golden parachutes even if the company is ruined)

Corporate boards do not over-see management or direct the corporation; they rarely meet and do not review the performance of the company or management; lackeys to mang.

Corporate auditors do not do a diligent job of looking at the financial statements

[chewbaca1989]

I was hanging on every word, more about the bi-metalists!

[chewbaca1989]

Historically this is nothing new.

All addressed in the Constitution, the founders had the same debate you're seeing on the blogs today.

Can you agree with me that the Federal Reserve printing of fiat money (MONOPOLY MONEY) has been a detriment to America?

a "Fanatic" of monetary history.

[Ralphdraw3]

It is interesting to note how much progress was made and how much wealth was produced in the country (except for the Depression) from, say, 1900 until 1980....

regardless of gold or silver and gold or no gold or tin and gold etc..etc..etc..

[chewbaca1989]

Well, the heart of the matter is that the "wealth" was eaten up in the 60's. You sound old enough to remember the War on Poverty, Vietnam, you know Butter and Guns. You can't have both. 1971, Tricky Dick abolishes the fractional reserve standard made at the end of WWII. Gas crises followed by 25% interest rates. You remember, right? The collapse of our monetary system was set in place. Whaamo! Fast foreword to today.

[Ralphdraw3]

Guns and Butter -

Ron Reagan and GW Bush tried to do both and sent the country into deep debt. Reagan and Bush lowered taxes on the wealthy - another stupid idea, because the wealthy have misused the money and the middle and lower class have just fallen farther behind.

[chewbaca1989]

You just argued my point, touche.