7 votes

Dr. Paul Craig Roberts on gold and gangster capitalism

Dr Paul Craig Roberts talking about economic issues facing the world today.

I have just started getting into his ideas and think he is great so thought I would share it with everyone on the DP.

http://www.youtube.com/watch?v=f2VUbTdtlbg&list=TLr5qRFLCTc80

He makes a lot of good points and comes to some stark conclusions.

Hope you enjoy.

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A two tiered legal system

with banks under one set of law and the rest of us and our businesses under another set of laws is the root cause of crony-capitalism.

The fork in the road into two-tiers are the legal tender laws.

Banks should be treated as any other business, period end of story. If they want to market toilet paper as money, go for it. If they want to market Gold as money that is fine as well.

Then simply let the legal system enforce their contracts like any other business.

Yes

But we need to take over the courts & government to get it and there will be massive resistance.

Lord Acton, Lord Chief Justice of England, 1875 - "The issue which has swept down the centuries and which will have to be fought sooner or later is the People v. The Banks."

I like PCR, however...

I have an issue with his contention that free market capitalism has failed. How can you point to Glass-Steagall and other de-regulation in the past 25 years as the root cause of "gangster capitalism" when the whole system still rests on a fiat currency?

Also, being an economist he barely even touched on the topic of the legal system. The whole system is skewed to favor big business and monied interests. Everything from insurance mandates and seat belt laws to personal injury and liability laws needs to be taken into account as to whether we truly have a free market or not.

As for his statement about regulating human behavior in the financial sector, I find this a little disturbing as well. What other behaviors would he like to "regulate" in his new understanding of things?

Perhaps somebody could ask him his thoughts on the difference between regulatory laws and punitive ones.

I really do like PCR, but these are fundamental ideals that leave me feeling just a little bit disappointed in this podcast, and other than that he does have great insight on so many of the other "moving parts" in the political/economic landscape.

Yes he says some things that pure libertarians will disagree

with.

But he brings up some very good points.

Lord Acton, Lord Chief Justice of England, 1875 - "The issue which has swept down the centuries and which will have to be fought sooner or later is the People v. The Banks."

God Bless Him

He was part of an administration that still had some accountability within it.

He's tried to leave public speaking several times but keeps coming back. Probably because he has grandchildren and just plain cares.

Like a lot of good people, he found it hard to imagine JUST HOW EVIL, Evil is. And what they will do with the power they seek.

Everybody wants a benevolent dictator with a lot of power to make their world as they wish.

It never happens.

PS Be careful with how the media has brainwashed people with labels. When I grew up there was hardly ANY Republicans in Texas, and the whole state was what you now consider as libertarian. That's how America has been stolen. From within by decades of social engineering using the MSM and fake money.