Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
5 comments

OpEdNews Op Eds

Bail Out or Power Grab?

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It


Become a Fan
  (12 fans)

opednews.com

The legislation being hammered out in our imperial capital to bail out financial institutions contains a decidedly dictatorial twist.  Section 8 relates to review of the Secretary of the Treasury's decisions.  It reads as follows:

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

(See  click here for the full text)

Bottom line, there is no review of the Secretary's decisions.  This essentially makes him the USA's financial dictator. Read the whole proposal. The Secretary may issue regulations, enter into contracts, disperse funds,  and designate financial agents of the government at his discretion, not subject to review! This delegation of legislative power to the executive branch is contrary to the letter and spirit of the Constitution, and violates the principle of the separation of powers. This kind of rule by decree may fly in Chavez's Venezuela, but it isn't acceptable here.

One is reminded of the warnings of the Founders.

James Madison wrote in Federalist No. 47:

The accumulation of all powers, legislative, executive,
and judiciary, in the same hands, whether of one, a few, or many, and whether hereditary, self-appointed, or elective, may justly be pronounced the very definition of tyranny.

Thomas Paine's observation about government:

Against this species of despotism, proceeding on through an endless labyrinth of office till the source of it is scarcely perceptible, there is no mode of redress. It strengthens itself by assuming the appearance of duty, and tyrannizes under the pretence of obeying.

The process of turning the USA into a neo-fascist country is nearly complete. The only thing that separates  us from out and out fascism is fact that we elect our dictator. The office of the Presidency may have a parade of different occupants, but this doesn't keep us free if they wield dictatorial powers.

This is the culmination of a process begun in the Progressive Era of the late 19th and early 20th centuries . It was then that the idea of federal regulation of the economy began to be implemented. From that era also came the Federal Reserve System, creating a banking cartel. Despite the so-called deregulation of recent years the financial industry remains highly regulated. The mess we're in is a direct result of this intervention. Thank you, progressives, for giving us the regulatory state. Not quite working out the way you thought it would, is it?

The only way out is to implement a system of free banking and private money. We should begin with abolishing the Federal Reserve and repealing the legal tender laws. Then we can repeal the income tax and abolish the IRS. This is an oversimplification that would have to be thoughtfully implemented, but this truly free market approach is the only way to put the economy back on a sound footing.

While it will hurt, we must let the correction run its course. Then we'll have our fundamentals in place (hear that Sen. McCain?) and the economy will recover.

So, no more fascist bail outs!

 

http://theinternationallibertarian.blogspot.com/

Darren Wolfe, otherwise known as The International Libertarian, is the former Eastern Vice Chair of the Libertarian Party of Pennsylvania. He grew up in Puerto Rico and lived in Venezuela for seven years, including the first year of Chavez' rule. (more...)
 
Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Follow Me on Twitter

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The Judicial Crackdown on Jury Rights Activists in Florida

The Evil Lincoln

Boycott Philly? Why Philadelphia's Licensing and Taxing of Blogs is Creeping Fascism

POLICE STATE 2010: Philly Cops Stopping & Searching Random People On The Street; Over 250,000 So Far

Did McCain Choose Palin to Forestall NRA Endorsement of Barr?

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
4 people are discussing this page, with 5 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

What exactly do you mean by Free Banking? We alrea... by Ty on Monday, Sep 22, 2008 at 1:57:04 PM
The Federal Reserve Is Not Free Banking. We Pay I... by Brad Evans on Monday, Sep 22, 2008 at 4:41:13 PM
The problem is not the "Regulatory state" but the ... by Ty on Monday, Sep 22, 2008 at 2:03:59 PM
First it was the Patriot Act and war in Afghanista... by Anton Grambihler on Monday, Sep 22, 2008 at 3:14:03 PM
Ty,The 'Corporate State' you speak of is c... by UncleSim on Monday, Sep 22, 2008 at 4:09:04 PM