Trust Us; We're the Government
While much has been made recently of the President's unconstitutional appointment of Richard Cordray to be director of the Consumer Financial Protection Bureau (CFPB), lost in the hubbub has been any discussion of the unconstitutionality of, or the need for, the CFPB itself. Proponents of the CFPB claim that this new bureaucracy will help consumers by protecting them from fraudulent activity. In reality, it will only expose consumers to more financial harm.
Housed within the unconstitutional Federal Reserve, and funded not through Congressional appropriations but through the Federal Reserve's interest revenue off the trillions of dollars of US government debt it holds, the structure of the CFPB ensures that it is run by unelected, unaccountable bureaucrats, with no effective oversight from Congress. Given broad power to regulate the activities not only of banks, but also of any other entity which the government deems offers a financial product, there is almost no limit to the scope of financial activities which the CFPB can oversee.
Giving impetus to the CFPB's creation was the poor reputation of Wall Street banks and financial firms that developed as a result of the financial crisis, banks which received trillions of dollars of taxpayer-funded bailouts turned around and shafted their customers by foreclosing on homes, raising credit card interest rates and introducing numerous new fees.
But rather than keeping Wall Street in check as its proponents allege, the CFPB will end up placing further restrictions on the ability of Main Street Americans to engage in productive financial endeavors. Current law already allows only the richest Americans to invest in potentially lucrative ventures such as hedge funds because such investments are deemed to be "too risky" for the average American to invest in. The government in its paternalistic wisdom treats American investors as too stupid to know what to do with their own money, and "protects" them, supposedly, by keeping them poorer than they otherwise would be. We can expect even more of this once the CFPB is running in full stride.
The CFPB will further harm consumers by encouraging them to use only financial products which have received the Bureau's approval. Many consumers will assume that these products are "safe," and will fail to engage in their own due diligence, with predictably unfortunate results. We have seen this with the stock markets and the cases of Bernie Madoff and Allen Stanford, where investors trusting the SEC to prevent fraud ended up suffering huge losses. Social Security is a similar case, in which millions of people placed their trust in the government to take care of them in their old age. The inability of Social Security to pay its future obligations is well understood but ignored, and millions of Americans will likely once again learn the hard way that the government cannot be taken at its word.
Posted by howardtlewisiii on 02/19/12 03:08 AM
I suggest lining all of these employees up, because obviously, they were ordered to propose this muck, and hit them each squarely in the face with a creme pie. Then rip up the proposal and thank them for their originality and mirth in the face of tyranny.
Posted by rossbcan on 02/07/12 05:27 PM
Click to view link
too many occupy an alternate reality...
Posted by terrybee on 02/07/12 04:40 PM
Hi DB & all.
Great show(sorry-off-topic!) on Edge mediaTV just there.
Theo chalmers interviewing ex banker Mark Cocking.
..about London Sq-mile & occult hermetic knowledge; Very interesting-indeed to-O
Posted by rossbcan on 02/07/12 04:25 PM
"amazed that Congress has not made attempts"
really? They have self, not public interest in mind, not to mention that pursuing their illegal, selfish interests and perversions has made them subject to coercive blackmail from the "neccessary" extrajudicial wiretapping and apparatus of the surveilance state, in unaccountable (CIA / NSA, self funded, by proceeds of crime) hands.
I'm amazed that ANY residual faith EXISTS regarding the honest functioning of ANY of the social / economic / judicial institutions in the west. Watching too much TV? Maybe Rambo will help?
Posted by cosmos on 02/07/12 04:12 PM
It's either "President Ron Paul" or "Listen to that Fat Lady Sing".
Posted by JeffC on 02/07/12 03:55 PM
Dr. Paul, thank you for continuing to expose these efforts for what they truly are. Our liberties are being stolen from us bit by bit. In 10 years, the U.S.A. will no longer resemble the country in which I grew up.
This agency is illegal and I am amazed that Congress has not made attempts to reign in Obamas unconstitutional free for all. I can only assume that most, in Washington, are complicit with his effort.
Posted by Bobby7 on 02/07/12 03:03 PM
The Nazis Won the War, The German People were Defeated!
The fact of the matter is, that MOST of the high ranking Nazis made it to America and their children are the brains behind the NWO. Zionism and Nazism are one and the same - National Socialism. Communism is International Socialism. And Capitalism is Talmudic Judaism. Are you beginning to see the picture? Jews control Europe AND America today! Putin is in the hands of Jews! Open your eyes to the REAL Holocaust that is coming down the road, being prepared by the Bilderbergers!
Operation Paperclip (also Project Paperclip) was the code name for the O.S.S.-U.S. Military rescue of scientists from Nazi Germany, during the terminus and aftermath of World War II. In 1945, the Joint Intelligence Objectives Agency was established with direct responsibility for effecting Operation Paperclip.
Following the failure of the German invasion of the Soviet Union (codenamed Operation Barbarossa), and (to a lesser extent) the entry of the U.S. into the war, the strategic position of Germany was at a disadvantage since German military industries were unprepared for a long war. As a result, Germany began efforts in spring 1943 to recall scientists and technical personnel from combat units to places where their skills could be used in research and development:
'Overnight, Ph.D.s were liberated from KP duty, masters of science were recalled from orderly service, mathematicians were hauled out of bakeries, and precision mechanics ceased to be truck drivers.' - Dieter K. Huzel
The recalling first required identifying the men, then tracking them and ascertaining their political correctness and reliability, before being recorded to the Osenberg List, by Werner Osenberg, a University of Hannover engineer-scientist, head of the Wehrforschungsgemeinschaft (Military Research Association). In March 1945, a Polish laboratory technician found the pieces of the Osenberg List in an improperly flushed toilet. Major Robert B. Staver, U.S.A., Chief of the Jet Propulsion Section of the Research and Intelligence Branch of the U.S. Army Ordnance, London, used the Osenberg List to compile his Black List of scientists to be interrogated, headed by rocket scientist Wernher von Braun.
The original, unnamed plan - to interview only the rocket scientists - changed after Maj. Staver sent Col. Joel Holmes's cable to the Pentagon, on 22 May 1945, about the urgency of evacuating the German technicians and their families as 'important for [the] Pacific war'. Most of the scientists were rocketeers of the V-2 rocket service; initially housed with their families in Landshut, Bavaria.
On 19 July 1945, the U.S. JCS designated the handling of the Nazi scientists and their families as Operation Overcast, but when their housing's nickname, 'Camp Overcast', became common, conversational usage, Operation Overcast was renamed Operation Paperclip. Despite the effort to secrecy, by 1958, much about Operation Paperclip was mainstream knowledge, mentioned in a panegyric Time magazine article about Wernher von Braun.
In early August 1945, Colonel Holger N. Toftoy, chief of the Rocket Branch in the Research and Development Division of Army Ordnance, offered initial one-year contracts to the rocket scientists. After Toftoy agreed to take care of their families, 127 scientists accepted the offer. In September 1945, the first group of seven rocket scientists arrived from Germany at Fort Strong in the US: Wernher von Braun, Erich W. Neubert, Theodor A. Poppel, August Schulze, Eberhard F. M. Rees, Wilhelm Jungert and Walter Schwidetzky. Eventually the rocket scientists arrived at Fort Bliss, Texas for rocket testing at White Sands Proving Grounds as 'War Department Special Employees.'
In early 1950, U.S. legal residence for some 'Paperclip Specialists' was effected through the U.S. Consulate in Ciudad Juárez, Chihuahua, Mexico; from which country the Nazi scientists legally entered the U.S. In later decades, the War time activities of some scientists were investigated - Arthur Rudolph linked to the Mittelbau-Dora slave labor camp, Hubertus Strughold implicated with Nazi human experimentation.
Eighty-six aeronautical engineers were transferred to Wright Field, which had acquired Nazi aircraft and equipment under Operation Lusty.
The United States Army Signal Corps employed 24 specialists - including physicists Drs. Georg Goubau, Gunter Guttwein, Georg Hass, Horst Kedesdy, and Kurt Levovec; physical chemists Professor Rudolf Brill and Drs. Ernst Baars and Eberhard Both; geophysicist Dr. Helmut Weickmann; technical optician Dr. Gerhard Schwesinger; and electronics engineers Drs. Eduard Gerber, Richard Guenther and Hans Ziegler.
The United States Bureau of Mines employed seven German synthetic fuel scientists in a Fischer-Tropsch chemical plant in Louisiana, Missouri in 1946.
In 1959, ninety-four Operation Paperclip men went to the U.S., including Friedwardt Winterberg and Friedrich Wigand. Through 1990, Operation Paperclip immigrated 1,600 Nazi personnel, with the 'intellectual reparations' taken by the U.S. and the U.K. (patents and industrial processes) valued at some $10 billion dollars.
Posted by bewer on 02/07/12 02:08 PM
Go Ron!! If this simpleton grasps the truth in RP writings, why cant the Admin people?
Posted by Bobby7 on 02/07/12 01:35 PM
Who will fight to the death for the Constitution of America?
If you are not prepared to die for the Rights of Family, Home & Liberty, then you're better off DEAD!
Rise up America! Your DEAD HEROES are calling from their graves!
Better to die UNSHACKLED than to live in CHAINS!
The BRAVE MAN dies but ONCE, the COWARD a 1,000 times!
Posted by dave jr on 02/07/12 09:58 AM
"Many consumers will assume that these products are "safe," and will fail to engage in their own due diligence, with predictably unfortunate results."
'Safe' also meaning little to no return. Sitting ducks for inflation.
Posted by rossbcan on 02/07/12 08:58 AM
... cannot be taken at its word.
means: If you do BELIEVE these fraudulent "assurances", whatever tolerance and / or material goods / services (loans, social insecurity taxes) you provide to government in the false hope / expectation of future "quid pro quo" for your faith / investment will be worse than a dead loss because THEY will use these resources as a weopon against you to protect against any justice seeking and, to insure that you live in terror, insecure in your person, papers and property (safety) from THEIR rapacious demands, collapsing peace, civilization and productivity.
THEY and their methods of surival (force / fraud) are both unjust and a severe survival threat, to all of us. Co-operate with, work for or tolerate THEM and, you share their inevitable fate (torches and pitchforks from whatever survivors exist post-collapse). Per the "Nurenberg principles", it is OUR legal duty to oppose tyranny in all of its forms, else, be complicit in the crimes and, face the consequences.
Justice Defined: We are all free to profit or suffer and learn (adapt to excellence) by facing the consequences of our OWN choices. Injustice is to be forced to suffer the consequences of choices of unaccountable (irresponsible) others.
THEY need a clear, unignorable message that THEY are responsible for both their OWN actions and paying for the consequences therof, because, for "we, the people" to continue to tolerate these predations is collective doom and, end of peace and civilization (the rules by which we cooperate for MUTUAL self-interest), with EQUAL right to life (balance of power) for ALL human beings.
The "law" has falsely rationalized their REAL function FROM keeping the peace, predator control TO being "master predator", initiating aggression and creating the conflict that they are under contractural obligation (public servants) and sworn oath to suppress, as our "guardians of civilization":
Click to view link
Posted by Ol' Grey Ghost on 02/07/12 08:50 AM
"The CFPB will further harm consumers by encouraging them to use only financial products which have received the Bureau's approval. Many consumers will assume that these products are "safe," and will fail to engage in their own due diligence, with predictably unfortunate results."
Institutional Infantilization at its worse.
Click to view link
The most natural way to learn is by trial and error. When the Nanny-state prevents one from suffering from error, then one never learns. Sounds like the modern public indoctrination system at work.
If Evel Knievel had never crashed then he wouldn't have learned to charge more for his stunts. Of course, if he had never crashed, then his act wouldn't have been quite so interesting to watch...