Pazdispenser wrote:I could only read this article with 'vigilant' glasses!
The Great Solvent North
By THERESA TEDESCO
Published: February 27, 2009
Canadians found inspiration in Hamilton’s model, but not all Americans did. In the 1830s, President Andrew Jackson opposed extending the charter of the Second Bank of the United States, perceiving it as monopolistic. Money-lending functions were then assumed by local and state-chartered banks, eventually giving rise to the free-market, decentralized system that America has today.
Today, Canada’s system remains truer to Hamilton’s ideal. The five major chartered banks, the few regional banks and handful of large insurance companies are all regulated by the federal government.
Since Mr. Obama seems to admire the Canadian banking system, his administration might want to take a page out of its playbook.
This would entail building a national banking system based on a small number of large, broadly held, centrally and rigorously regulated firms. Imitating the Canadian model would require sweeping consolidation of American banks. This would be a very good thing. Washington had difficulty figuring out the magnitude of the financial crisis because there are so many thousands of banks that it was impossible for regulators to get into all of them.
Washington is already on the path to achieving consolidation. Eventually, some of the larger banks into which the government is injecting taxpayer money will probably be deemed beyond help, and will either be allowed to die or be partnered with other banks. The market will take its cues from this stress-testing, and make its own bets on which banks will survive. It’s hard to predict how many will have survived when the dust settles, but the new landscape might consist of only 50 or 60 banking institutions. More radically, Washington could take over the licensing of banks from the states, or, at the very least, consider more stringent regulation of global and super-regional banks. After all, the Canadian system is considered successful not only because it has fewer banks to regulate, but because regulation is based on the tenets of safety and soundness.
Much more chalkboard screeching at:
http://www.nytimes.com/2009/02/28/opini ... desco.html
I just now really read this one good. I see what you mean about the 'glasses'. This thing is treachorous to read and is a mirror world author's dream. Letting the 2nd Bank of The United States take over with local and state chartered banks, etc....it all sounds like exactly what we would prefer.
The reality was that this was the renewal of the international bankster scam. The United States is a corporation, and it owns the country, and its peoples. We don't realize it, but we want that U.S. tag thrown out with the bathwater...I like that part where it said, "became the land of the free"....
That is some funny, not so funny stuff. Yes it became the land of the free. The land was now owned by people who didn't have to participate as wage slaves. The land was taken out of our possession. Property cannot be bought and sold, legally only the title can be bought or sold, and usage goes with title, and an ability to transfer usage rights with a title transfer.
The land belongs to the "free" and not to the title holder. Try selling some land sometime without a title and see....Every 77 years the slaves are released and the land goes back to its rightful owners. If its rightful owners do not realize they now have possession of their land again, and do not claim it, then by default it goes back to the masters again.
I'm not sure about this part, but I think the way the law is written, if you are poor it is because you are not possessing title to property, and if poor cannot own property. Owning is holding title I think, without the land actually being yours.
These terms, tenant, tenet, slave, land, indentured servant, property, owner, title, lien, etc....they don't mean what we think they mean. Somewhere, it might be possible to find the definitions, the rabbit hole ones, that have the last "mean" but I can't remember.
This is priceless....
Washington had difficulty figuring out the magnitude of the financial crisis because there are so many thousands of banks that it was impossible for regulators to get into all of them.
yeah no kiddin........
The whole world is a stage...will somebody turn the lights on please?....I have to go bang my head against the wall for a while and assimilate....