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Milton Friedman Quote

The fundamental threat to freedom is power to coerce, be it in the hands of a monarch, a dictator, an oligarchy, or a momentary majority. The preservation of freedom requires the elimination of such concentration of power to the fullest possible extent and the dispersal and distribution of whatever power cannot be eliminated—a system of checks and balances. By removing the organization of economic activity from the control of political authority, the market eliminates this source of coercive power. It enables economic strength to be a check to political power rather than a reinforcement.

ideas > Just another rant to a friend

Just another rant to a friend
Who created the Fed Reserve? The federal government. Therefore they control the Fed Reserve. If they wanted, they could dissolve it tomorrow, but they don't because it allows them to print money whenever they want. I find that many liberals often blame everything but the government for what the government does and that is probably because they love government and what government does. They refuse to take their thinking far enough. The US might not profit from interest on loans, but the federal government profits heavily from its ability to get as much cash as it wants when it wants. Sure bankers make interest profits, but the one entity that benefits the most from this charade is the federal government, hands down. Why you can't see that is beyond me, but I still like you anyway Phil. I enjoy our banter and conversations. We are pretty much on the same side, but you still have those Marxist tendencies to want to blame business and not government for the problems. Right now the government controls businesses, so why not blame government. The banks don't control the government. The businesses don't control government. The government controls them through heavy taxation on corporate profits and regulation. Sure businesses and individuals give money to politicians, but no one forces the politicians to vote one way or the other. The politician could say no to certain contributions, just like Obama did. No one holds a gun to the politicians head and makes him vote one way or another based on money given. The ultimate decider is the politician and federal government. That is why businesses, bankers, and whomever grovel to the federal government for more money. They are the problem. The head and the brain of the central bank are government appointed political appointees, not the bankers. Last time I checked there were 12 governors and 1 chairman who are all politically appointed. Notice the emphasis on political appointed. The reason the banks were bailed out was because the federal government wants to keep this charade going. They can print money for nothing and do what they want. They need the banks to stick around to continue this charade. I would agree with you and I've always agreed with you, corporate welfare is going on right now and it is too much, but welfare for the individuals is much bigger as evidenced by the Medicare program and its 700 billion plus price tag each year, as well as social security and its 700 billion price tag, thus making up at least half of the government budget. I'm sure the corporate goodies handed out do not add up to 1.4 trillion dollars. Corporate welfare, by the numbers, isn't the biggest problem therefore. The whole problem is that the government is determining who wins and loses while at the same time wasting trillions of dollars on pet projects and trying to manage the economy politically. They use the Federal Reserve to get what they want when they want. In order to use it, they pay a price of interest to the bankers, but the ultimate winner of this whole charade in terms of dollars isn’t the bankers. They make a pittance even with their hundred million dollar bonuses. The ultimate winner is the federal government because they get trillions of dollars and the ability to do what they want to do. I'm just following the numbers on this one. Until people realize that the real enemy isn't business, corporate welfare or whatever the Marxist fad of the day, the government will continue to get away with this fraud and the next fraudster after Bush is now going to be Obama. He's going to take us into overdrive with this fraud. It is evident that Keynesian economics and central banking does not work, but the people are fools for biting on the belief that the problem is business, corporate greed, corporate welfare or whatever. Who is the greediest entity out there? That's right, the federal government. No business or group of businesses compares to the federal government when it comes to greed and its ability to ignore its customers, the taxpayers. So quit whining about corporate welfare and greed and all that other Marxist propaganda that is stuck in your brain and start whining about the real problem, the federal government.
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