Banking Deregulation Caused The Financial Crisis

No it didn't! Every time I see someone post this as a comment I think my head will explode. This is the second video I'm doing in a series of four where I go over how this crisis was caused by too much regulation and government coersion in society.

Category:

News & Politics

Tags:

• Sarbanes
• Oxley
• Banking
• Deregulation
• Regulation
• Financial
• Reform
• Bill
• Libertarianism
• Ron
• Paul
• Murray
• Rothbard
• Von
• Mises
• Austrian
• Economics
• Tea
• Party

[Blueslide]

Well of course they have shown, I am proud of them. My system has resulted in a just and participatory democracy with REAL freedoms. Your system is fantasy, it has never existed. When we adopt the policies you insist are the road to liberty, they prove to be the real road to serfdom for most. I present real world facts, you reply with nonsensical theories. I don't attack the gold standard, I want evidence of its efficacy. So far, your responses have been rhetoric alone.

[chuska8383]

@Blueslide Rhetoric? You ignore all evidence. The Roaring 20s, depression in the 30s, Nazi Germany in the 40s, stagflation in 70s, S&L crisis, Nasdaq bubble, housing bubble, current bond bubble. The 50s and 60s were okay not because of your policies but by depleting US gold reserves which were once 90% of the world's reserves...gone in one generation yet you honestly think the system you're advocating works? Also, your system is immoral, you don't have the right to vote on someone else's things!

[Blueslide]

@chuska8383 I don't ignore any of that. You just have not stated how those were created by ignoring the gold standard (i'm guessing at this point because you can't). How is a capitalist system moral? Why should haves be superior to have nots? The only possibility of that being moral is that we all start as equals, which we do not and indeed your system would prevent (have nots are dependent upon charity). BTW, Murray Rothbard falls on his face on the equality issue and resorts to racism.

[chuska8383]

@Blueslide ?!? I'll do a video to respond to this. Give me a day or two

[chuska8383]

@Blueslide No, you are a statist. You trust (foolishly) in central planning and government control and are suspicious of freedom, liberty, and unfettered markets. You spit in the face of all the brilliant European Enlightenment thinkers that came before you. We disagree. People will always disagree with you - that is human nature. To FORCE what YOU think is correct on others is morally reprehensible and that is the weakness in the system you advocate, you know it, and have no counter to it.

[chuska8383]

@Blueslide And so your true colors have shown! The reason why you are attacking the gold standard is because it allows for people to protect what is rightfully theirs instead of having it incrementally nationalized through the thieving predation of fiat currency. Sweden is successful despite its socialist economy, not because of it. Again, give people a CHOICE. If they want to use your toilet paper fiat currency, let them but if they want to use real money let them. You don't let them, socialist

[Blueslide]

And now for the inevitable hyperbole of the "classic liberal" Tyranny, Thefy blah blah blah. I am a Democratic Socialist, two words that I am sure make your skin crawl. But like the last libertarian I chatted with here, all I have to do is point to the fabulous success of Sweden. Fabulous is not by my standard only, but by your Mises.org folks. Check out the level of economic and social liberty scores of the socialist Swedes-far superior to any of you authoritarian free marketeers.

[Blueslide]

@chuska8383 How do you attribute this to leaving the gold standard ? That's silliness. And why do you think Gold cannot have a bubble price when every single commodity in the history of man is subject to market swings...do you really think a gold bubble is not possible? More Americans participated in the strong growth of the American economy from 1945 to 1990 or so, then ever in history. An undeniable fact and it occurred with government assistance/regulation

[Blueslide]

@chuska8383 There has been extremely large booms then busts after every war...with and without the gold standard. Your relativism about the severity of economic crises in the 1800's is unsubstantiated. Itw as just another century of panics, booms, recessions and depressions. The S&L crisis occurred AFTER deregulation, dot com bubble after SEC deregulation, don't forget energy market deregulation and Enron. Deregulation=lawlessness and loss of property by unregulated markets.

[chuska8383]

@Blueslide Still...I recognize that honestly believe that digital fiat is a viable means of exchange. You're certainly not alone - our notoriously horrendous public funded education system has succeeded in this matter. Therefore, let those who want to use the "barbaric relic" as money do so, and exempt us from the "gains" as measured in your fiat currency rapidly descending to zero. Let the people choose for themselves. Of course, your system only works when you don't let people choose - tyrrany