Quote:
Originally Posted by Mike33
I agree, it's not a free market at all, and there were regulatory bodies in place but they all failed. Bad policies also added fuel to the inevitable fire.
However, I think that true free markets are only possible in theory when dealing with complex societies. If it could exist, it would have drawbacks too. But less/limited government is a realistic goal. The battle between total individual freedom and government control is probably an eternal one.
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Minarchism ftw.
Isn't it obvious all the OECD nations are going to get together now and form some sort of socialist pact like the EU, to regulate all banking in the west / first world. And they'll do it under the guise of helping 'ordinary people', but it will actually be a cartel operation between welfare states to eliminate tax competition (tax havens) and setup a new banking system so that this can happen all over again.
Without tax and currency competition the government(s) of the world can inflate the currency to infinitum. Credit expansion orders of magnitude larger than even the current climate.
So get ready to pay 70% income tax and have to fill out dozens of forms every month to justify your business operations to the central authorities...
It's (government, socialism, welfare) all just a big scam, and you're not in on it.