Tag Archives: Regulation

Fixing the Game, by Eric Peters

The government deals and the government holds all the cards. Should you play a rigged game? From Eric Peters at ericpetersautos.com:

Does it make sense to play by the rules when the rules no longer apply? Well, when they only apply to you?

If you own a car, you are forced to “cover” it with an insurance policy that costs what you’d never freely pay – and what the insurance mafia could never get away with charging – if you were free to say no this “coverage.”

Many people do say no to it. They are too poor to afford it and just drive, sans the “coverage.”

And they “get away” with it.

Bully!

Nothing is done to them because they have nothing more for the government – which promulgates the rules – to take. Perhaps their car, but if they are poor (or smart) it is probably a beater and they can just go out and buy another car – with the money they didn’t spend on a piece of paper (i.e., the “policy”). 

Some aren’t here legally and have also said no to the driver’s license – the government ID card, really – that rule-abiders are also forced to get and carry (as well as pay for) according to the rules of the game.

The system doesn’t care much about such people because there is no money in them. It is rare for them to be kept in jail because that would be a liability rather than an asset. And the government – despite what is said about its book-keeping competence – knows all about profit and loss.

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ECB Head Christine Lagarde Calls For Global Regulation of “Reprehensible” Bitcoin, by Paul Joseph Watson

Central bankers hate alternative, private mediums of exchange. Don’t take Bitcoin and other cryptocurrencies freedom from regulation for granted. From Paul Joseph Watson at summit.news:

“Bitcoin has conducted some funny business.”

Getty Images News

Head of the European Central Bank Christine Lagarde has called for global regulations on Bitcoin, labeling the cryptocurrency “reprehensible.”

Lagarde made the comments during a Reuters Next conference earlier today, during which she asserted that Bitcoin was not a currency.

“When you look at the most recent developments upward, and now the recent downward trend … for those who have assumed that it might turn into a currency, terribly sorry but this is an asset and it is a highly speculative asset,” she said.

The former head of the IMF, who was previously found guilty of financial negligence by a French court over a €403 million arbitration deal in favor of businessman Bernard Tapie, went on to accuse Bitcoin of being heavily embroiled in criminal activity.

“(Bitcoin) has conducted some funny business and some interesting and totally reprehensible money laundering activity,” said Lagarde.

The ECB head went on to call for Bitcoin to be regulated by financial authorities.

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Doug Casey on the COVID Thanksgiving Restrictions and the “Great Reset”

It’s pretty clear that we’re heading toward a totalitarianism that’s even more total than what we have now. From Doug Casey at internationalman.com:

COVID Thanksgiving

International Man: Thanksgiving and the holiday season are here. The COVID hysteria has justified a new wave of government restrictions.

Many governors and mayors are ordering citizens to “stay at home” and cancel their traditional plans.

Is this a “new normal” in which local officials feel emboldened to dictate more and more of what people can do in their own homes?

Doug Casey: There’s not much question about it. First, let me draw your attention to an important fundamental: the type of people who go into government. It doesn’t matter if it’s national, state, county, or city government.

They’re the kind of people who think they know what’s best for others and like bossing them around. They see the virus as a great opportunity to make themselves important and to cement themselves in power. They want to deconstruct America. The phrase “build back better” is being used not just by people in the new Biden regime but by people all over the world.

These people see the COVID hysteria as an excuse for a “Great Reset.” They don’t describe exactly what the elements of the Great Reset might be, but they’re hitting the same notes sung by the people that go to the World Economic Forum in Davos. They’re promoting a great change in the world at large and America in particular.

It appears the world is ready for it; however, it’s for the same reasons that Biden won the election. I listed six factors why I thought Biden would win in our interview a couple of months ago: the virus hysteria, a pending economic collapse, negative demographics, the moral collapse of the old order, and the Deep State, and, of course, cheating—which was critical in the short term. There’s no question that stormy times are ahead.

We’re headed for a great leap forward—to borrow a phrase from Mao—in State power. Much higher taxes, much higher inflation, much more regulation, a big drop in the general standard of living, and a fair measure of social chaos.

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California’s Odd Desire to Suffocate the ‘Gig Economy’, by Gerard Scimeca

California is trying to kill the gig economy of which it is arguably the birthplace. From Gerard Scimeca at realclearmarkets.com:

If our current economy were a swimmer paddling furiously against a surging tide, then California is determined to hand it an anchor. Millions of Americans who work to make ends meet through freelance work in the ‘gig’ economy were recently handed virtual pink slips through AB5, legislation signed into law last year by Governor Gavin Newsome forcing independent contractors to be treated as employees.

With other states now looking to follow suit, it’s time Congress address this atrocious assault on worker freedoms and economic innovation by enacting federal standards on independent contract work. It would be a shallow victory for our economy to rebound from Covid only to have workers tossed out of their freelance jobs by clueless politicians seeking to “protect” their rights.

It should surprise no one that AB5 set in motion a massive economic wrecking ball that already has rideshare giants Uber and Lyft packing their bags to leave the state. Requiring contract workers to be treated as full-fledged employees in California or any state will of course make dozens of similar gig platforms unprofitable, in effect deleting apps right off our phones. A court’s temporary pause of AB5 last week is now holding worker jobs by a thread, causing Uber and Lyft to temporarily suspend plans to leave the state. If the ruling doesn’t hold, over 200,000 freelance workers will be driven out of work and millions of consumers will be left on the side of the road.

It is startling that in today’s modern economy California would even attempt such a clampdown. The one-size-fits-all model of employee-employer relationship is a relic of the distant past. More than a third of the U.S. workforce is currently employed as either full or part-time freelancers. This is no longer an employment niche but a pillar of our current economy. Freelancers earn good money, often sizably more than their employee counterparts. And despite the complaints of some interventionist lawmakers, workers themselves are quite content with the freedom their work offers. In one recent survey, 71 percent claimed increased work opportunities over the previous year.

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Could Wall Street Lose the Election? by Charles Hugh Smith

Popular anger with Wall Street is rising, perhaps because Wall Street is filled with grifters and crooks. From Charles Hugh Smith at oftwominds.com:

Two simple regulations would drive a stake through Wall Street’s corrupt, evil heart.

While the corporate media is focused on the presidential election, perhaps the more interesting question is: could Wall Street Lose the election? That is, could Wall Street face potentially fatal restrictions regardless of who wins?

If this seems farfetched, consider the history of abrupt social-political-financial turn-arounds that surprised the mainstream. Off the top of my head I would point to Big Tobacco and environmental controls on Big Industry.

For decades, Big Tobacco was politically invulnerable. Big Tobacco greased the political machinery with huge contributions to politicos and massive lobbying campaigns to deny the self-evident reality that smoking was hazardous to human health.

Every effort to change this political dominance was thwarted with ease–and then suddenly, Big Tobacco fell out of favor. Politicians who had collected millions of dollars in Big Tobacco bribes–oops, I mean campaign contributions–without any blowback were suddenly in the spotlight as enablers of an industry that had remorselessly killed millions of its customers while claiming that tobacco’s health effects were still a matter of debate and/or choice.

Practically overnight the political walls protecting Big Tobacco crumbled as all the lies and political complicity that had long been accepted as “normal” were denormalized.

Big Industry encountered little political resistance to its decades-long dumping of industrial waste into the nation’s waterways and air until 1970. Images of American rivers catching fire changed public perceptions and eventually even Big-Business-friendly Republicans supported environmental regulations that cost Big Industry tens of billions of dollars in new costs.

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Government Is No Match for the Coronavirus, by Bob Luddy

A lot of people think that the government’s response to the coronavirus, led by the same CDC that couldn’t get its shit together on testing kits, will contain the virus. Wrong! From Bob Luddy at spectator.org:

The coronavirus is reminding everyone that you cannot rely on government and that ultimately it is the private sector that will provide the solutions. Many non-medical government officials and members of the media are predicting massive cases of COVID-19 and death, when in fact no one can predict the outcome. What we do know is that government has created a full-blown national panic, when at this point the normal flu season is far more deadly.

Decentralization is critical to a functioning society but often precluded by federal regulations.

The Washington Post reported the following about the Centers for Disease Control:

The problems started in early February, at a CDC laboratory in Atlanta.

A technical manufacturing problem, along with an initial decision to test only a narrow set of people and delays in expanding testing to other labs, gave the virus a head start to spread undetected — and helped perpetuate a false sense of security that leaves the United States dangerously behind.

Tests begin with the CDC to ensure quality, which is exactly the wrong approach. It assumes the government can outperform the best medical industry in the world. Even at this hour the CDC has failed, shipping test kits that are defective.

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Because We Said So, by Eric Peters

Hearing the same unjustified injunctions from the government that you used to hear from your parents is just as maddening now as it was back then. From Eric Peters at ericpetersautos.com:

When a bright child questions a parent who hasn’t got a good answer, the parent often will sometimes say, because I said so!

Government works on the same principle.

It says A and B are the law – that we must not do something – because of this rationale. But when we – its children, as it considers us – notice and ask why C is allowed or even required, despite it being contrary to the same rationale given for A and B, we are told – in essence – because I said so!

Examples abound but the latest is an exemption from federal saaaaaaaaaaaaaaaaaaaaaaaafetyrequirements for cars without drivers just granted by the National Highway Traffic Safety Administration (NHTSA).

The Nuro R2  – named, obviously, to summon warm associations with the cute little R2 D2 robot from Star Wars – will not have to conform to FMVSS crashworthiness standards that apply to other cars.

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The US Healthcare System Is Hemorrhaging: It is Bleeding Close to $1 TRILLION a Year, by Dagny Taggart

Perhaps someday we’ll find the solution for efficient, affordable health care and health insurance: let a free market provide them. Until then, we’re stuck with the current monstrosity. From Dagny Taggart at theorganicprepper.com:

The Affordable Care Act continues to be anything but affordable.

In fact, the healthcare system in the US is in terrible financial shape.

A new study has revealed that waste and needless spending in America’s healthcare system could amount to almost $1 trillion each year. This exceeds the total US military expenditures in 2019 – the world’s largest defense budget – and as much as all of Medicare and Medicaid combined.

This news should not shock anyone.

If you are one of the hundreds of thousands of Americans who are in serious debt due to medical expenses, you are likely not surprised by the new study’s findings. As we recently reported, 66.5 percent of all bankruptcies in the US are tied to medical issues, either because of high costs for care or time out of work. An estimated 530,000 families turn to bankruptcy each year because of medical issues and bills.

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3 Reasons Why Facebook’s Zuckerberg Wants More Government Regulation, by Ryan McMaken

Business people love regulation when they can use it to their advantage. From Ryan McMaken at mises.org:

Facebook CEO Mark Zuckerberg wants more government regulation of social media. In a March 30 op-ed for The Washington Post, Zuckerberg trots out the innocent-sounding pablum we’ve come to expect from him:

I believe we need a more active role for governments and regulators. By updating the rules for the Internet, we can preserve what’s best about it — the freedom for people to express themselves and for entrepreneurs to build new things — while also protecting society from broader harms.

But what sort of regulation will this be? Specifically, Zuckerberg concludes “we need new regulation in four areas: harmful content, election integrity, privacy and data portability.”

He wants more countries to adopt versions of the European Union’s General Data Protection Regulation.

Needless to say, anyone hearing such words from Zuckerberg should immediately assume this newfound support for regulation is calculated to help Facebook financially. After all, this is a man who lied repeatedly to his customers (and Congress) about who can access users’ personal data, and how it will be used. He’s a man who once referred to Facebook users as “Dumb F-cks.” Facebook lied to customers (not to be confused with the users) about the success of Facebook’s video platform. The idea that Zuckerberg now voluntarily wants to sacrifice some of his own power and money for humanitarian purposes is, at best, highly doubtful. (Although politicians like Mark Warner seem to take it at face value.)

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Goodbye to the Internet: Interference by Governments Is Already Here, by Philip Giraldi

It’s only a matter of time before governments fully tame and domesticate the internet. From Philip Giraldi at strategic-culture.org:

There is a saying attributed to the French banker Nathan Rothschild that “Give me control of a nation’s money and I care not who makes its laws.” Conservative opinion in the United States has long suspected that Rothschild was right and there have been frequent calls to audit the Federal Reserve Bank based on the presumption that it has not always acted in support of the actual interests of the American people. That such an assessment is almost certainly correct might be presumed based on the 2008 economic crash in which the government bailed out the banks, which had through their malfeasance caused the disaster, and left individual Americans who had lost everything to face the consequences.

Be that as it may, if there were a modern version of the Rothschild comment it might go something like this: “Give me control of the internet and no one will ever more know what is true.” The internet, which was originally conceived of as a platform for the free interchange of information and opinions, is instead inexorably becoming a managed medium that is increasingly controlled by corporate and government interests. Those interests are in no way answerable to the vast majority of the consumers who actually use the sites in a reasonable and non-threatening fashion to communicate and share different points of view.

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