Skip to comments.Elizabeth Warren and liberalism, twisting the ‘social contract’
Posted on 10/05/2011 9:37:55 PM PDT by Nachum
Elizabeth Warren, Harvard law professor and former Obama administration regulator (for consumer protection), is modern liberalism incarnate. As she seeks the Senate seat Democrats held for 57 years before 2010, when Republican Scott Brown impertinently won it, she clarifies the liberal project and the stakes of contemporary politics. The project is to dilute the concept of individualism, thereby refuting respect for the individuals zone of sovereignty. The regulatory state, liberalisms instrument, constantly tries to contract that zone
(Excerpt) Read more at washingtonpost.com ...
Yes, E Warren is a globalist of the worst order. Her former relationship with the Consumer Financial Protection Bureau was of interest. Of greater interest is the CFPB itself. It seems to be designed to serve as a clearing house for all purposes regarding any aspect of a citizens life...financial, mortgages, healthcare (integrates Obamacare), taxation, homeland security monitoring, consumer monitoring, behavior modification, control etc, integrating essentially all Executvie Branch agencies that involve themselves with any aspect of a citizens life.
Included in the following comment is a current article on the $3.5T the Chinese hold of US TBonds...one of the purposes of the CFPB is to allow better collateralization of the US tax base for further borrowing and maintenance of the existence of un-patriated Tbonds.
Will our citizen tax base be rated Triple A again with the implementation of the CFPB?
Also, with half of the US households not paying taxes at all, will the CFPB serve as a wealth redistribution clearing house from producers to welfare and social justice recipients without any Congressional oversight? It seems so.
The Consumer Financial “Protection” Bureau should be retitled the Fed Receivership Debtors Prison for US Citizens as it is completely housed in the Fed, paid for, funded by the Fed and completely outsources by the Congress the financial life of each and every citizen and illegals too in a Congressional interference-free body for data collection, monitoring, tax and fee collection, and manipulation of the most draconian degree.
No one apparently sees it that way. THe public thinks the CFPB will protect them from financial usury. Far from it. It is intended to house the entire populations labor and taxation and fee collection status within the Federal Reserve to guarantee the issuance of Tbond debt repayment. It represents the collateralizataion, securitization of the entire labor and business community for the purpose of servicing Federal Debt and Fed Res Wall Streets related credit derivative liabilities, especially related to mortgage backed securities whose original titles and notes have been destroyed, lost forever. THe public will have to cover the losses on derivatives of all types including the “non-properties”, those without a legal paper trail in existence. The latter is the real fraud of the mortgage backed securities in the trillions....the investors who bought them thought they were, colllateralized and triple A rated. THey were not, as there is no paper trail to prove ownership on behalf of anyone holding a mortgage backed security. No holder of such can claim ownership and win a US court foreclosure proceeding...the cannot prove they own the property. The banks collected 100% of the original mortgage value and did not transfer the title and note cancellations to the buyers of the securities...that is the fraud of the banks and the bond rating agencies permitted by the Congress when it allowed the banks to get into the derivative securitization business in 1998. The creation of non-property that cannot re-enter the private sphere is the crime. The first protection of the Constitution is property rights.
The destruction of the legal value of property by the trillions with the destruction of original titles and notes is so astonishing that no one, including the 50 state attorneys general, seems to want to define or to deal with the fraud of derivatives and false securitizataions. Of course, if all mortgage backed securities were repatriated with issuing banks, all banks would be insolvent.
The CFPB is a modern debtors prison within the Fed, and serves as a model for a world banks management of world populations, if it ever comes about. The CFPB is the first transnational step for making the entire US population captured in a management vehicle for globalization purposes. As soon as the Senate confirms its Director, the process will start, plugging all agencies in Obamacare and the Executive Branch under the Directors control for the purpose of complete management, control of the popualtion...Congress no longer is necessary. THink about disenfranchisement! The Dodd - Frank Bill served as a totally non-reforming finance bill and has served as a Trojan Horse simply to get the CFPB passed without notice or fanfare. The public thinks it is about mortgage contracts, credit issues, etc...it is, but it is draconially much, much more...and there is NO escape from it once the Director is appointed. The CFPB makes all the rules, and can only be affected by Congress if it somehow represents an existential threat to the nation after the fact. IT is right now an existential threat to the individual liberty of all citizens, and no one but me, of all the people I know sees the potential danger of this monstrous Act. The Reps are talking about repealing Dodd-Frank...none mention repealing the CFPB, the really draconianlly dangerous part of the bill...JS
China holds over $3T in Tbonds...the CFPB, controlling the taxpayers within the Fed is the collateral that China needs to consider payoff a realistic viability. We have already been placed in receivership for payout management. Taxes to come will be taken directly from our monitored and managed accounts. Think about it. The IRS will be the collection agency on steroids. The IRS has already stated that it needs 16.000 new employees to comply with the new intended potentials for servicing the functions of the CFPB. WIthout the CFPB, China will dump US bonds, and they might anyway in spite of the CFPB. WE are being placed in chains to pay for fraudulent debt and politically caused borrowing over the tax base capabilities of the country. No Republican President can save anything if the CFPB is implemented...JS
“The Fed Pays a King’s Ransom to China
By: Richard Benson, SFGroup
— Posted Wednesday, 5 October 2011 | Share this article | Source: GoldSeek.com
Americas economy is in shambles. Fiscal policy is totally gridlocked between Democrats who want to see some long term tax increases, and Republicans who only want spending cuts. Worse yet, the Republicans view economic failure in America as a good thing as they believe it will enhance their chances of recapturing the White House. Because compromise on the budget seems to be off the table right now, that leaves only the Federal Reserve policy to stimulate the economy. So, judging from whats been reported in the financial press and on TV lately, the Feds policy is ringing loud and clear: Keep interest rates at record lows, and devalue the currency.
Keeping long term interest rates low is desired because the Obama Administration is praying that loan and mortgage refinancing will put more money into the pockets of corporations and individuals, giving them money to spend. A lower dollar is also desired to help boost exports. Selling more abroad is, for now, the only way to create more jobs. In other words, fiscal policy is frozen like a deer in the headlights and easy money is the only policy our governments got. There is just one big problem with a policy of low interest rates and a weak currency.
Foreign central banks, led by China, currently hold $3.5 trillion dollars invested in US treasuries. China created goods that they sold to America for dollars but now we want to pay them nothing in interest and devalue their savings held in dollars. Indeed, it must be galling to the Chinese that we are treating them this way. (Its ironic but were treating our retired savers in our own country this same way). Needless to say, China understands whats going on and it has them more than a little pissed off. At some point, they could cut their losses and swap their horrible investment in paper dollars for tangible assets such as gold and other resources they need to employ, feed, clothe, and house their 1.3 billion citizens.
Countries holding US treasuries face a two pronged dilemma: First, if they dump longer term treasury securities, they would suffer massive price declines because selling long term notes and bonds pushes their prices down. Second, foreign countries would suffer currency depreciation losses because selling dollars pushes the dollar down. If China and other central banks all sold their longer dated treasury notes and bonds, US treasuries would decline in price, causing long term interest rates in America to soar. At this time in American history when our economy is so fragile and weak, rising long term interest rates could spell disaster for our economy. This is the Obama Administrations greatest fear especially as we approach an election year, so they had to come up with a plan so foreigners dumping their longer term US treasuries wouldnt hurt us. Since monetary policy is all weve got, the Fed was called in to fix the problem.
So what else could the Fed possibly do to keep our economy moving in the right direction? Why not go to the Chinese and promise to pay them a big fat premium on their current long term treasuries (that were purchased at much higher interest rates) and let them swap them into short term treasury bills and notes. Indeed, looking at the prices of US Treasury notes and bonds, most are trading at premiums of 10 to 15 percent for recent issues, and 50 percent or more for those issued just a few years ago. By allowing other countries to get out of longer term treasuries at a time of record low interest rates, it will give them an extraordinarily large gift and potentially enormous profits that can be used in several ways: China would likely use the profits to offset currency losses when the Fed goes back to printing money in QE3 to fund our deficit; and, in Europe, the profits could be used to help recapitalize their banks which are loaded up with Greek, Irish, Italian, and Spanish debt.
When foreign countries have fewer treasury notes and bonds left in their arsenal to sell, when they do get around to selling their dollar holdings itll push the dollar down without pushing interest rates up. (Note: Short term treasuries will not go down in price if sold. Indeed, they can only go down if the Fed raises rates, and even then they quickly adjust back to a par price of 100.) At that point, America can dare China to sell the dollar, because pushing the dollar down is our policy.
So basically now you know what the Feds recent Operation Twist is all about (a more appropriate name might be Operation Payoff). We are paying a Kings Ransom to pave the way to devalue the dollar in the next QE3 and beyond. Just remember the downside of a falling dollar will be higher import prices and higher inflation.
If you would like to participate in Operation Payoff, do what the Central Banks will be doing: Sell your long term treasuries to the Fed and then brace for the next round of dollar devaluation and inflation which will soon be on the way.”
I know it might slow down your invites on the DC cocktail circuit if you said this Georgie, but modern Conservative have a more concise word for all your sentences. Socialist.
George Will: “Liberalism preaches confident social engineering by the regulatory state. Conservatism urges government humility in the face of societys creative complexity.”
Well written, plus we have historical evidence that liberalism simply cannot work in large doses. The regulatory state is necessary, but too much kills the host. Only the great capitalist wealth and respect for liberty of Western countries has enabled them to dabble with socialism without being burnt too badly, yet.
Will just put Warren in her place.
Liberalism preaches confident social engineering by the regulatory state. Conservatism urges government humility in the face of societys creative complexity.”
Well reasoned, well written...but...I thought the bedrock and source of our freedoms was our Creator...never mentioned by either intellectual. THAT is why American “Progressives” and RINO’s don’t get it. They don’t get it at all.
They’re fighting over how much or how little control each has over that which is not theirs to regulate.
Will did well. The comments are a little scary.
Yes. I believe you're right. Capitalism was successful largely because of Judeo-Christian concepts of private property rights, individual worth, and self-regulated liberty. We've been coasting on the benefits of our cultural heritage for so long, many of us have forgotten how we got here in the first place.
I hadn’t looked at the comments, but went back and skimmed over them when I saw your comment.
You’re right. Some of them *are* scary.
OTOH, the column *was* published in the Washington Post, a liberal rag.
Not to forget that all individual rights come from our creator(God) and not from government and their regulatory agencies. Government cannot take away what is not theirs to begin with. Although they are trying like hell to do so!!
Will touches on another topic that is rarely discussed on the right: that is, the idea that big corps and big businesses manufacture demand and easily control the semi-stupid and gullible masses who will buy anything if pitched at them correctly. He mentions the failure of Edsel to disprove that notion, and surely there are thousands of other marketing pitches from various corps that the public didn’t want. Few average adult Americans are tricked into buying anything they don’t really want. Unless you’re a Democrat of course. Then you’re easy to fool. But not by corporations.
Best George Will article in a long while.
Probably because he’s exposing the leftist mindset instead of attacking conservatives.
Well good for that libbie understanding true human nature.
The problem with liberals though, even if they recognize this truth, is that they DON'T APPLY THIS TRUTH TO THE PEOPLE WHO ATTAIN POWER IN GOVERNMENT.
It's their elitism based on evolutionary assumptions that blind them. They believe that "some" humans aren't subject to this failing because they are more advanced ("evolved") than the masses.
If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary. In framing a government which is to be administered by men over men, the great difficulty lies in this: you must first enable the government to control the governed; and in the next place oblige it to control itself. A dependence on the people is, no doubt, the primary control on the government; but experience has taught mankind the necessity of auxiliary precautions.