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Former NY Gov. Eliot Spitzer on Governments and Markets

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Safra Foundation Center for Ethics at Harvard

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Eliot Spitzer: The 'Regulatory Charade' of Banking

03 min 21 sec

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Eliot Spitzer: Fiscal Stimulus Not Job-Focused

04 min 09 sec

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01 hr 38 min 31 sec

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13 Comments

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marvinzzz

Posts: 4

Posted: 01.04.10, 08:10 AM

Which government is he talking about? The economic government or political government? This is a useless talk because the government has essentially no control over the economy because of the powers that be that control the stock of money. The only way governments should intervene is to responsibly control the stock of money. He talks about regulation failing, bla bla (usual bullshit), but what's the point when the government is not even in a position to control its own stock of money ? He's distracting you.

The stock of money is controlled within the US by the Federal Reserve which ironically is not federal (a government body) nor does it have any reserves. It is simply a private organisation that the US delegated the authority to control the stock of US money and acts within its own private interest of financial gain. Don't believe me? Look up the Federal Reserve in a telephone book you will find it in the business, not the government section.

Instead of this distraction of a 'lecture' and if he wants the government to do something.. repeal the Federal Reserve act, GATT and withdraw from the world bank. Then issue money that is directly correlated with population growth. This has been done in the past and currently (Guernsey) with great success because populations and governments are not enslaved into paying back vast amounts of interest payments. War, slavery, poverty, starvation, famine and world control in the hands of the IMF, World Bank, Fed and BOE are the root of all economic peril because all of these horrors generate vast amounts of debt and therefore interest (profit) for central banks.

Remember, the Fed that are supposedly saving us from economic peril through their interventions had caused 3 major recessions including the great depression within 25 years of their inaction. In no other time in US history had such economic problems existed within the powers of a central bank in the US. The government is merely a powerless economic face.

"Any system which gives so much power and so much discretion to a few men, so that mistakes - excusable or not - can have such far reaching effects is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any affective check by the body public - this is the key political argument against an independent central bank" -- Friedman.

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mszlazak

Posts: 22

Posted: 01.03.10, 08:42 PM

Good expose.

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