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Debating the Anarcho-Capitalists

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http://www.truthdig.com/eartotheground/item/debate_public_banks_are_key_to_capitalism_20131003    

"The parties who have been profligate with money-creation and fraud are in the private sector."

For the millionth time, the Fed is not "private." It's really incredible that you people can claim it is private when its top man is chosen by the US government and its top people have to testify before Congress on a regular basis. It is a quasi-private/quasi-public institution -- a mercantilist entity that comprises the worst of both worlds.

"I believe DB and Brown are in agreement that Corporate Personhood ought to be repealed ASAP."

Really? We've interviewed her at least twice and have written numerous articles responding to her arguments are not aware of her concern on this issue. Ms. Brown is generally in favor of bigness and complexity from what we can tell, and we would be very surprised if this is high on her list of preoccupations.

"I have argued elsewhere that having a Public Option for Money would provide some balance to having nearly all money produced in the private sector, as would LETS."

Of course you are in favor of LETS as it demands that people keep a full ledger of every transaction, which conveniently can provide the same full record to government for taxing and audit purposes. Never enough of a paper trail, is there?

"DB's solution: "The solution is a simple one, however. People need to educate themselves, take responsibility for their actions and also take "human action" to support themselves, their families and their communities in ways that provide self-sufficiency.' would be laughably naive if it wasn't so dangerous. The fact is only a strong government with regulation that works (see Bill Black) can counter the oligopoly that is the current Big Banking system."

Yes, Bill Black " a man who is a big fan of FBI investigations who has made a career out of calling for Wall Street incarcerations and wants to create, from what we can tell, a new Pecora commission -- similar to the one that has proven such an abysmal failure. The idea that you want to pile agency on government agency and regulation on top of regulation when REALITY shows that these solutions are failures only reveals, again, your partiality to authoritarian solutions. Heaven forbid you would consider competition as a market regulator. Instead you want to FORCE people to act in certain ways, ones you approve of.

"Government is [not] too big and powerful, but " too small and weak, compared to the Banking-industrial complex."

Really? The banking-industrial complex USES government to fulfill its goals last we looked. You want to make government EVEN BIGGER under the guise of giving control to "the people" which is nonsensical. You are in other words advocating a solution that will make the problem worse. Why you argue this is between God and your conscience.

"It's good to see that DB doesn't equate Ellen Brown with Hitler."

But indeed these are NAZI solutions as we have argued elsewhere.

http://www.thedailybell.com/news-analysis/29292/Con-of-Public-Banking/

They are Dirigist, authoritarian and never work as advertised. Giving more power to governments to facilitate government force in order somehow to support prosperity and increased happiness among the populace is facile indeed. Easy to suggest but impossible to implement.

"DB's solution seems to be "Hands off! Let the (mythical) Free Market decide!"

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http://newthinking.blogspot.com/

Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles was published by Tayen Lane Publishing (March, 2015) and may be found here:
https://tayen-lane.squarespace.com/america-is-not-broke/

Scott is President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written (more...)
 

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You made a wise decision to publish this debate h... by Charles Roll on Thursday, Feb 13, 2014 at 11:25:58 PM
The original Chicago Plan (Henry Simons et al.) m... by Charles Roll on Thursday, Feb 13, 2014 at 11:31:06 PM