Comments on: Bob Barr: ‘A Proposal to Make the Fed Truly Accountable’ http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/ Covering America's third parties and independent candidates since May 2008 Mon, 13 Feb 2012 23:11:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Laura Kim http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-155388 Laura Kim Thu, 28 Jan 2010 23:52:32 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-155388 Make that four. Bill Bradbury is running for Governor of Oregon and advocating a state-owned bank. His version of a state-owned bank would partner with private banks instead of compete against them. http://bradbury2010.com/ Make that four. Bill Bradbury is running for Governor of Oregon and advocating a state-owned bank. His version of a state-owned bank would partner with private banks instead of compete against them.

http://bradbury2010.com/

]]> By: Darcy G Richardson http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-136584 Darcy G Richardson Tue, 01 Dec 2009 13:56:29 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-136584 Thanks for the info, Zeleni. I wasn't aware that Rich Whitney was also championing the idea of a state-owned bank. Including Farid Khavari, that might make three of us. Though Minnesota's Farmer-Labor Party failed to enact a state-owned bank during the twenties and thirties — and not for lack of trying — it's an idea that just might resonate during the most severe banking crisis since the Great Depression. When he's not chewing on his cellophane-wrapped cigar, Arthur C. Townley, the crusty old Socialist and founder of the Non-Partisan League, must be smiling at these developments from beyond. Thanks for the info, Zeleni. I wasn’t aware that Rich Whitney was also championing the idea of a state-owned bank. Including Farid Khavari, that might make three of us. Though Minnesota’s Farmer-Labor Party failed to enact a state-owned bank during the twenties and thirties — and not for lack of trying — it’s an idea that just might resonate during the most severe banking crisis since the Great Depression.

When he’s not chewing on his cellophane-wrapped cigar, Arthur C. Townley, the crusty old Socialist and founder of the Non-Partisan League, must be smiling at these developments from beyond.

]]> By: Zeleni http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-136374 Zeleni Tue, 01 Dec 2009 00:49:42 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-136374 Darcy, Rich Whitney, the Green Party's candidate for Governor in Illinois, is also advocating a state bank. It's mentioned on the front page of his website: http://www.whitneyforgov.org "I have a few other ideas, such as establishing a state bank, like North Dakota has. (See: http://www.yesmagazine.org/issues/path-to-a-new-economy/bank-on-it-how-cash-starved-states-can-create-their-own-credit ) This is an old Progressive idea that needs to be revived. North Dakota is the only state that has its own bank and, as a result it is just about the only State that is not struggling with a deficit problem. In fact, with a population of just 600,000 people, it is now enjoying a surplus of $1.2 billion. All tax revenues go into the State bank, which then has the power to loan money and reap the benefits of interest income, utilizing a fractional reserve system like any commercial bank, while financing services and projects that support the public policy of the State. Instead of borrowing money from private banks, and paying it back to them, with interest, the State can be making money that can eventually lower the tax burden on the people." Darcy,

Rich Whitney, the Green Party’s candidate for Governor in Illinois, is also advocating a state bank.

It’s mentioned on the front page of his website:

http://www.whitneyforgov.org

“I have a few other ideas, such as establishing a state bank, like North Dakota has. (See:

http://www.yesmagazine.org/issues/path-to-a-new-economy/bank-on-it-how-cash-starved-states-can-create-their-own-credit )

This is an old Progressive idea that needs to be revived. North Dakota is the only state that has its own bank and, as a result it is just about the only State that is not struggling with a deficit problem. In fact, with a population of just 600,000 people, it is now enjoying a surplus of $1.2 billion. All tax revenues go into the State bank, which then has the power to loan money and reap the benefits of interest income, utilizing a fractional reserve system like any commercial bank, while financing services and projects that support the public policy of the State. Instead of borrowing money from private banks, and paying it back to them, with interest, the State can be making money that can eventually lower the tax burden on the people.”

]]> By: MN Indy http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-136332 MN Indy Mon, 30 Nov 2009 23:25:49 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-136332 Forget making it accountable. Just abolish it already! Forget making it accountable. Just abolish it already!

]]> By: Trent Hill http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-136092 Trent Hill Mon, 30 Nov 2009 05:29:16 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-136092 Danny, I hope you are right. But I'm not convinced at all. Schiff has a very negative message (even if he is right, and he is) that is not going to resonate with voters. He will need to present himself in a much more positive light in ads--while incorporating his correct economic predictions into ads too. It will be tough, but he has the money, the activist base, and the credentials to hit 20%, I think. Kokesh is in a hopeless district, but he might hit 40%. Danny,

I hope you are right. But I’m not convinced at all. Schiff has a very negative message (even if he is right, and he is) that is not going to resonate with voters. He will need to present himself in a much more positive light in ads–while incorporating his correct economic predictions into ads too. It will be tough, but he has the money, the activist base, and the credentials to hit 20%, I think.

Kokesh is in a hopeless district, but he might hit 40%.

]]> By: Danny S http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135989 Danny S Mon, 30 Nov 2009 00:12:21 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135989 Trent, Schiff pulled 5% in the last poll and only just now started to actually campaign. And looking at other libertarian Republicans in this cycle, particularly Rand Paul, good funding + active campaigning has yielded results. Now I don't know if Peter Schiff will win the primary, but I would expect him to hit at least 15% in the primary. I think those trying to go the outsider approach in the primaries really have to start early to get poll results and to get grassroots activism- more like Rand Paul and Adam Kokesh. But its an unpredictable race. I'm with Ben- I'll root for Peter Schiff (whose father was an LP presidential candidate for the nomination at one point) and Ralph Nader. Trent, Schiff pulled 5% in the last poll and only just now started to actually campaign. And looking at other libertarian Republicans in this cycle, particularly Rand Paul, good funding + active campaigning has yielded results.

Now I don’t know if Peter Schiff will win the primary, but I would expect him to hit at least 15% in the primary. I think those trying to go the outsider approach in the primaries really have to start early to get poll results and to get grassroots activism- more like Rand Paul and Adam Kokesh. But its an unpredictable race.

I’m with Ben- I’ll root for Peter Schiff (whose father was an LP presidential candidate for the nomination at one point) and Ralph Nader.

]]> By: Darcy G Richardson http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135945 Darcy G Richardson Sun, 29 Nov 2009 21:42:08 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135945 "Why don’t we have state banks like N. Dakota?" Good question. As far as I know, the only candidate in the country advocating the establishment of a state-owned bank — an idea first proposed and implemented by North Dakota's powerful Non-Partisan League — is Farid A. Khavari, an Iranian-born and University of Bremen-educated economist from Miami who's seeking the Democratic gubernatorial nomination against the party's annointed candidate, Alex Sink, Florida's Chief Financial Officer. Sink, who often comes across more as a Republican than a Democrat, is a former president of Bank of America of Florida and ex-colleague of disgraced Bank of America CEO Ken Lewis. “Why don’t we have state banks like N. Dakota?”

Good question. As far as I know, the only candidate in the country advocating the establishment of a state-owned bank — an idea first proposed and implemented by North Dakota’s powerful Non-Partisan League — is Farid A. Khavari, an Iranian-born and University of Bremen-educated economist from Miami who’s seeking the Democratic gubernatorial nomination against the party’s annointed candidate, Alex Sink, Florida’s Chief Financial Officer.

Sink, who often comes across more as a Republican than a Democrat, is a former president of Bank of America of Florida and ex-colleague of disgraced Bank of America CEO Ken Lewis.

]]> By: Stephen Verchinski http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135892 Stephen Verchinski Sun, 29 Nov 2009 19:25:53 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135892 Connecticut needs Nader as Senator if only to break the stranglehold that the unaccountable insurance and defense industries have on that state. We might ask ourselves also why is GE represented on the board? Why is the money supply not reported? Why do we continue to depreciate our currency? Why do we gin the figures for unemployment vs. that of the europeans? Why don't we have state banks like N. Dakota? Connecticut needs Nader as Senator if only to break the stranglehold that the unaccountable insurance and defense industries have on that state. We might ask ourselves also why is GE represented on the board? Why is the money supply not reported? Why do we continue to depreciate our currency? Why do we gin the figures for unemployment vs. that of the europeans? Why don’t we have state banks like N. Dakota?

]]> By: padinsky http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135842 padinsky Sun, 29 Nov 2009 16:05:53 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135842 I'm in favor of greater oversight of the Fed by Congress. In our so-called democracy, the Fed Chairman [and his cronies at the Fed] has way too much power (viewed by many to be 2nd in Power only to the U.S. President...?) ...for un-elected official [s]???. The trouble is, who's going to guard the guards? With the current system of campaign finance, our illected officials (Congress, et al.) are enthralled by those that pay them the largest campaign bribes contributions [Ex:“Do as we (your large 'contributors') say, or our bribes contributions go to your opposition in the next election.”] . If they [our congress-persons] were subjected to the same standards as officials in our court systems (ex.: Judges,...or even just Lawyers), or even lowly, bean-counting, CPAs [who are asked to audit the financials of an entity in which they (those CPAs) have a financial interest] they (our congress-persons) would be required to recuse themselves from sitting on (oversight) committees [or even voting on the floor of the House or Senate] when it concerns entities who contribute more than X amount (according to some simple formula) to their campaigns. Instead hard and fast ethical rules [...as in Rule of Law?] that mandate impartiality on the part of our elected officials, we're asked to buy the 'quick Persian rug' that they [alone] are somehow able to withstand temptation, coercion, co-option, or corruption, and will faithfully execute the requirements of their office to promote the common good. Until the time when we can truly rely on a higher power to imbue [zap?] our elected officials with super-natural powers of probity, incorruptibility, and infallibility, the moment they take the oath of office, we have to assume they can be 'bought' in some way-shape-or-form. We have to assume that they, being [mostly] human, really do have 'feet of clay'. That they can be co-oped out of their regulatory duties. That they will be immersed in, and compromised by, an atmosphere of 'going along to get along' once they get into congress. But, it at least behooves us to attempt to ensure that they haven't been bought-and-paid-for even before they take office. That's why we need to insist on 1) Stronger [and continuing] Campaign Finance Reform, and, once they (the officials) get into office, that they're subjected to 2)The Same Professional Ethical Standards for Elected Officials that are applied to Lawyers and Accountants. But these ethical standards need to be applied with the Force of Law rather than just being mere 'suggestions'. Otherwise there will be those who think [that since they are Makers of Laws] they are somehow above a code of ethics, that those who insist on ethical standards and moral probity in office are quibblers and pettifoggers who don't know how 'things really get done' in the 'Sausage Factory'. That their constituents aren't paying attention anyway. I’m in favor of greater oversight of the Fed by Congress. In our so-called democracy, the Fed Chairman [and his cronies at the Fed] has way too much power (viewed by many to be 2nd in Power only to the U.S. President…?) …for un-elected official [s]???.
The trouble is, who’s going to guard the guards? With the current system of campaign finance, our illected officials (Congress, et al.) are enthralled by those that pay them the largest campaign bribes contributions [Ex:“Do as we (your large 'contributors') say, or our bribes contributions go to your opposition in the next election.”] .
If they [our congress-persons] were subjected to the same standards as officials in our court systems (ex.: Judges,…or even just Lawyers), or even lowly, bean-counting, CPAs [who are asked to audit the financials of an entity in which they (those CPAs) have a financial interest] they (our congress-persons) would be required to recuse themselves from sitting on (oversight) committees [or even voting on the floor of the House or Senate] when it concerns entities who contribute more than X amount (according to some simple formula) to their campaigns.
Instead hard and fast ethical rules [...as in Rule of Law?] that mandate impartiality on the part of our elected officials, we’re asked to buy the ‘quick Persian rug’ that they [alone] are somehow able to withstand temptation, coercion, co-option, or corruption, and will faithfully execute the requirements of their office to promote the common good.
Until the time when we can truly rely on a higher power to imbue [zap?] our elected officials with super-natural powers of probity, incorruptibility, and infallibility, the moment they take the oath of office, we have to assume they can be ‘bought’ in some way-shape-or-form. We have to assume that they, being [mostly] human, really do have ‘feet of clay’. That they can be co-oped out of their regulatory duties. That they will be immersed in, and compromised by, an atmosphere of ‘going along to get along’ once they get into congress.
But, it at least behooves us to attempt to ensure that they haven’t been bought-and-paid-for even before they take office. That’s why we need to insist on 1) Stronger [and continuing] Campaign Finance Reform, and, once they (the officials) get into office, that they’re subjected to 2)The Same Professional Ethical Standards for Elected Officials that are applied to Lawyers and Accountants.
But these ethical standards need to be applied with the Force of Law rather than just being mere ‘suggestions’. Otherwise there will be those who think [that since they are Makers of Laws] they are somehow above a code of ethics, that those who insist on ethical standards and moral probity in office are quibblers and pettifoggers who don’t know how ‘things really get done’ in the ‘Sausage Factory’. That their constituents aren’t paying attention anyway.

]]> By: Scotty Boman http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135830 Scotty Boman Sun, 29 Nov 2009 15:31:36 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135830 "Partisan politics could be minimized by mandating equal representation by both major parties..." Doesn't sound very Libertarian. “Partisan politics could be minimized by mandating equal representation by both major parties…” Doesn’t sound very Libertarian.

]]> By: paulie http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135825 paulie Sun, 29 Nov 2009 15:22:07 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135825 <blockquote>@3 That’s funny! Dumb, but funny.</blockquote> It was on the Daily Show the other day.

@3 That’s funny! Dumb, but funny.

It was on the Daily Show the other day.

]]> By: paulie http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135821 paulie Sun, 29 Nov 2009 15:18:24 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135821 <blockquote>“Andy // Nov 28, 2009 at 4:16 pm Oh, you mean Gold Mansacks!” Don’t know who posted this as it wasn’t by the Andy (me) who usually posts here. </blockquote> Andy is a fairly common name. This post was getting a lot of traffic for a while yesterday, although most of them did not leave comments, so it's not surprising to see a few comments from non-regulars.

“Andy // Nov 28, 2009 at 4:16 pm

Oh, you mean Gold Mansacks!”

Don’t know who posted this as it wasn’t by the Andy (me) who usually posts here.

Andy is a fairly common name. This post was getting a lot of traffic for a while yesterday, although most of them did not leave comments, so it’s not surprising to see a few comments from non-regulars.

]]> By: Andy http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135686 Andy Sun, 29 Nov 2009 05:11:01 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135686 "Andy // Nov 28, 2009 at 4:16 pm Oh, you mean Gold Mansacks!" Don't know who posted this as it wasn't by the Andy (me) who usually posts here. “Andy // Nov 28, 2009 at 4:16 pm

Oh, you mean Gold Mansacks!”

Don’t know who posted this as it wasn’t by the Andy (me) who usually posts here.

]]> By: Trent Hill http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135672 Trent Hill Sun, 29 Nov 2009 04:15:34 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135672 Ben, Schiff is polling 1-2%, so he isnt a threat. If he magically won the primary, Nader being in the general would help him by drawing votes from voters who would probably otherwise vote for Dodd or not vote. Ben,

Schiff is polling 1-2%, so he isnt a threat. If he magically won the primary, Nader being in the general would help him by drawing votes from voters who would probably otherwise vote for Dodd or not vote.

]]> By: Ben http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135663 Ben Sun, 29 Nov 2009 03:57:28 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135663 Independent Green Party - I really like Ralph Nader. Unfortunately another guy that I really like Peter Schiff is already running. Wish they could be the two from CT. Independent Green Party – I really like Ralph Nader. Unfortunately another guy that I really like Peter Schiff is already running. Wish they could be the two from CT.

]]> By: Tom Blanton http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135595 Tom Blanton Sun, 29 Nov 2009 00:18:52 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135595 The way to end abuses by the Fed and by the CIA is to simply shut them down. The way to end abuses by the Fed and by the CIA is to simply shut them down.

]]> By: Mik Robertson http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135585 Mik Robertson Sat, 28 Nov 2009 23:44:21 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135585 @3 That's funny! Dumb, but funny. @3 That’s funny! Dumb, but funny.

]]> By: Danny S http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135566 Danny S Sat, 28 Nov 2009 22:11:59 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135566 Barr should know that the intelligence agencies are less accountable than the the Federal Reserve by a longshot, committees or not. All it starts is a dance of testimony where nobody actually gets answers. Barr should know that the intelligence agencies are less accountable than the the Federal Reserve by a longshot, committees or not. All it starts is a dance of testimony where nobody actually gets answers.

]]> By: mike http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135551 mike Sat, 28 Nov 2009 21:22:27 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135551 Holding Madoff, Banks, Lehman Brothers, Meryll Lynch, etc. responsible for their crooked ways, I understand. Then why haven't anyone held Feds responsible for all the wallstreet mess, they are equally responsible. Why is government never held in contempt in people's court? Govt. was supposed to oversee the operations, not interfere, but oversee. SEC and other govt. agencies failed to catch them all red-handed, now govt. wants bigger govt. to prevent such mishaps in future. yeah right! we should believe that when govt. agencies are sleeping with all these top white collar crooks. America is a land of opportunity only if you are in Govt., white collar top executive or media-tied. Holding Madoff, Banks, Lehman Brothers, Meryll Lynch, etc. responsible for their crooked ways, I understand. Then why haven’t anyone held Feds responsible for all the wallstreet mess, they are equally responsible. Why is government never held in contempt in people’s court? Govt. was supposed to oversee the operations, not interfere, but oversee. SEC and other govt. agencies failed to catch them all red-handed, now govt. wants bigger govt. to prevent such mishaps in future. yeah right! we should believe that when govt. agencies are sleeping with all these top white collar crooks. America is a land of opportunity only if you are in Govt., white collar top executive or media-tied.

]]> By: relativemoney http://www.independentpoliticalreport.com/2009/11/bob-barr-a-proposal-to-make-the-fed-truly-accountable/comment-page-1/#comment-135550 relativemoney Sat, 28 Nov 2009 21:20:26 +0000 http://www.independentpoliticalreport.com/?p=10917#comment-135550 well, The FED screams for freedom and secrecy but... they knew the economy was getting over leveraged but... did not care. If i go the bank for a loan... I have a limit but... the sum of all economic agents in a country, including government have no limit... Common sense do not prevails, why that? well, The FED screams for freedom and secrecy but… they knew the economy was getting over leveraged but… did not care. If i go the bank for a loan… I have a limit but… the sum of all economic agents in a country, including government have no limit…
Common sense do not prevails, why that?

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