A Quote by Louis O. Kelso
Take Milton Friedman, he sits at his desk pontificating about such bunk as the monetary system being the answer to our problems. The monetary system is a legal contrivance. Property, not money, is real wealth. It's physical, not legal.
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From the inception of our nation our American ancestors intended for the United States to operate under a precious-metals monetary system or, more specifically, under a monetary system in which people used gold and silver coins rather than paper money as the media of exchange.
A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.
The legal system doesn't work. Or more accurately, it doesn't work for anyone except those with the most resources. Not because the system is corrupt. I don't think our legal system (at the federal level, at least) is at all corrupt. I mean simply because the costs of our legal system are so astonishingly high that justice can practically never be done.
I think our legal system needs to be developed. Cases of citizens who are detained and then have to wait much too long for a trial - that is scary, for everyone. When someone commits a crime he needs to be charged quickly. Why does this take so long in many cases? I don't know. Is it because our legal system is still rudimentary? China has promised to modernize its legal system. This has high priority.
Sure, our legal system has its flaws, but it is the best legal system in the world.
We have a legal immigration system that's outdated, it's primarily based on whether you have family members living here. In the 21st century, it has to be more of a merit-based system, and that is why our legal immigration system is in need of modernization.
What's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before.
The unique aspect of today's monetary inflation is that it is not limited to one country, but a host of countries are all inflating together. As a result of the monetary inflation (when all of the newly created money begins to leave the banks and enter the system), the price inflation will be worldwide.
In fact, the legal system is in part responsible for their very size and growth. And too often when the individual finds himself in conflict with these forces, the legal system sides with the giant institution, not the small businessman or private citizen.
...monetary exchanges have interesting things in common; Gresham's law, if true, says what one of these interesting things is. But what is interesting about monetary exchanges is surely not their commonalities under physical description. A natural kind like a monetary exchange could turn out to be co-extensive with a physical natural kind; but if it did, that would be an accident on a cosmic scale.
There are many reasons why the general public doesn't really understand our monetary system. In the first place, money is something that people tend to get emotional about. After all, money involves, and always has involved, something closely akin to faith-which probably explains why in many past societies the money system has been in the hands of a priesthood, the subject of magical rites, and the ceremonial services of the tribe's medicine man.
Unfortunately, corruption is widespread in government agencies and public enterprises. Our political system promotes nepotism and wasting money. This has undermined our legal system and confidence in the functioning of the state. One of the consequences is that many citizens don't pay their taxes.
The legal system we have and the rule of law are far more responsible for our traditional liberties than any system of one man one vote. Any country or Government which wants to proceed towards tyranny starts to undermine legal rights and undermine the law.
Legal ethics is a misnomer ... lawyers conducting themselves legally are not necessarily conducting themselves morally ."...and ..."The zero sum nature of the legal system, combined with the universal adoption of zealotry as the marching orders of practioners and prosecutors, transforms the moral mission of the legal system from one of truth-seeking, storytelling, and justice, to one of fabrication, distortion, and manipulation in pursuit of victory. These victories, however, make us all losers.
The American Civil Liberties Union, has helped neutralize the Judeo-Christian underpinnings of our legal system by seeking new legal precedents.
As president, I will fight illegal immigration in order to preserve an appropriate level of legal immigration. At the same time, I believe our system of legal immigration needs to be re-examined. As part of this re-examination, I support a modest, temporary reduction in the annual rate of legal immigration.
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