Definition Of Fascism In Economics
Fascism is socialism with a veneer of capitalism. Where socialism sought
totalitarian control of a society's economic processes through direct state
operation of the means of production, fascism sought that control
indirectly, through domination of nominally private owners. Where socialism
nationalized property explicitly, fascism did so implicitly, by requiring
owners to use their property in the "national interest"-that is, as the
autocratic authority conceived it. (Nevertheless, a few industries were
operated by the state.) Where socialism abolished all market relations
outright, fascism left the appearance of market relations while planning all
economic activities. Where socialism abolished money and prices, fascism
controlled the monetary system and set all prices and wages politically. In
doing all this, fascism denatured the marketplace. Entrepreneurship was
abolished. State ministries, rather than consumers, determined what was
produced and under what conditions.
Big Brother's Lock On Your Money Is Complete
Written on May 23, 2010 by LogisticsMonster
<http://logisticsmonster.com/author/admin/> in CRIME INC.
<http://logisticsmonster.com/category/crime/> , Climate Of Fear
<http://logisticsmonster.com/category/climate-of-fear/> , New World Order
<http://logisticsmonster.com/category/economy/new-world-order/> , The
<http://logisticsmonster.com/category/economy/the-federal-reserve/> , U.S.
I wrote about it; I tried to warn people, but after the healthcare fight we
just went through, I think most people just wanted a breather from battling
the fascists in Washington (to our long-lasting detriment).
Now we have the financial reform bill that includes the new federal agency
Office Of Financial Research, and the Bureau of Consumer Protection keeping
track of every single financial transaction you could possible imagine;
including your bank balance, and when you walk to the ATM to take cash out.
I wasn't lying, but I do think I was one of very few writing about it.
The fascists have the banks, the insurance companies, the credit card
companies, the car companies, OUR healthcare, and now Americans' financial
Senate Democrats Pass <http://www.cnsnews.com/news/article/66439> Bill
Allowing Govt to Collect Addresses, ATM Records of Bank Customers
(CNSNews.com) - Senate Democrats united to pass a financial regulatory bill
that allows the government to collect data on any person operating in
financial markets at any level, including the collection of personal
transaction records from local banks, including customers' addresses and ATM
receipts. (emphasis mine)
The Senate voted 59-39 on Thursday to pass the bill
cid=f:s3217as.txt.pdf> - the chief aim of which is to more-heavily regulate
the financial industry - sending it to a conference committee in the House
of Representatives, where differences between the House and Senate versions
will be ironed out.
The bill, if it becomes law, will create the Bureau
cid=f:s3217as.txt.pdf> of Consumer Financial Protection and empower it to
"gather information and activities of persons operating in consumer
financial markets," including the names and addresses of account holders,
ATM and other transaction records, and the amount of money kept in each
The new bureaucracy is then allowed to "use the data on branches and
[individual and personal] deposit accounts . for any purpose" and may keep
all records on file for at least three years and these can be made publicly
available upon request.
Shelby slammed the new consumer bureaucracy, saying that it was meant not to
protect consumers but to "manage" them by monitoring their behavior.
"Mr. President, make no mistake, behind the veil of anti-Wall Street
rhetoric is an unrelenting desire to manage every facet of commerce under
the guise of consumer protection.
"They may be interested in protecting consumers, but they are more
interested in managing them," Shelby said.
Shelby also criticized the idea that Americans need government to watch over
their every financial move, saying that it was better to allow people the
freedom to make their own choices and fail than to never allow them the
freedom to choose at all.
"Mr. President, I have faith in the American people and their ability to
make good choices," said Shelby. "Granted, we do not always choose well.
But I believe that a poor choice freely made is far superior to a good
choice made for me."
"I am afraid that the architects of this bill do not share this sentiment,"
he said. "Nor do they share my faith in the American people."
Shelby further said that the ability of the Federal Reserve to collect such
detailed information about the most basic of financial transactions was the
beginning of an effort by government to regulate every financial action of
every American citizen.
"This new consumer bureaucracy is intended by its architects in the Treasury
to begin the process of financial regulation with the intent of changing the
behaviors of the American people," said the senator.
Shelby appears to be correct. The bill
cid=f:s3217as.txt.pdf> allows the bureau to collect any and all information
on any person operating in the financial markets.
As it reads: "[T]he Bureau shall have the authority to gather information
from time to time regarding the organization, business conduct, markets, and
activities of persons operating in consumer financial services markets."
Meanwhile, depending on the conference version of this bill, you may be able
to fund a new federal agency that takes idle appropriations, invests them,
and keeps the profits. Those profits are 'not considered the government's
property'. I am still trying to ascertain who that money actually belongs to
because it is not yours anymore.
political-fight/> Turns Financial Reform Into A Political Fight
I am currently reading
cialReformLegislationBill.pdf> this bill and wanted to drop an interesting
tidbit on you. For those interested in reading the 114 page Manager's
here. I am only a couple hundred pages into this POS but starting on page
60, a new government office is to be established. The "Office Of Financial
Research" will be part of the Treasury, and will have a Director appointed
by the President and confirmed by the Senate. This office will also have a
data collection center to keep track of all financial and nonbank financial
institutions so as to be able to report to Congress on companies that
'threaten' the economy. It is unclear how big or how many new government
employees this office will create, but considering how events are unfolding
now with Obamacare, I'm assuming pretty large.
The interesting tidbit pertains to the Financial Research Fund that is to be
established and the ability of the Office that is providing Congress with
reports to invest monies they aren't using. Let me know if you think that's
a conflict of interest, and if you would like to know exactly how much money
"Funds obtained by, transferred to, or credited to the Financial Research
Fund shall be immediately available to the Office, and shall remain
available until expended, to pay the expenses of the Office in carrying out
the duties and responsibilities of the Office."
The above quotes are from Chris Dodd's markup draft. I
cid=f:s3217as.txt.pdf> went to the actual amended bill (Amendment No. 3739
of Bill S. 3217) that was passed and found the pertinent information
starting on page 62, with the investment and non-governmental monies section
on page 78. It's still in there.
At this point, the underground economy is about to get a bit larger.
UPDATE: More information on the Office Of Financial Research, here.
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