Thursday, July 19, 2012
Shouldn't have surprised me
News today mentions that Canada's per-capita wealth now beats America. Not surprising, and this one momentary comparison isn't the whole story.
Canada and Australia were exempt from the 2008 crash BECAUSE THEY DIDN'T REPEAL THEIR 1930s SECURITIES LAWS.
US, UK, and other parts of Europe crashed because WE DID REPEAL OUR 1930s SECURITIES LAWS. It's no mystery. We allowed the Bank Mafia to kill us for fun and profit, while Canada and Australia kept their Bank Mafias under control.
I looked up Canada's securities laws to see if they're parallel to our Glass-Steagall, and found something that did surprise me. In fact Canada doesn't have a national law on the subject; each province has its own! Most were passed in the 1930s, but they seem to have come before Glass-Steagall. [Online info is skimpy.]
Actually this shouldn't have surprised me. Canada still has federalism, and we don't. Canada's provinces still have the kind of sovereignty that our states had in the distant past, before Mass-Murdering Psychopathic Madman Lincoln turned the country into a brutal bloody absolute totalitarian dictatorship by killing 600,000 Americans directly and starving a million ex-slaves indirectly.
Simple fact: Decoupling always works better than rigid coupling.
When authority is diffuse, it's much harder for a giant power to throw the whole system into collapse. America had one national securities law. So it was easy for the banksters, acting through Phil Gramm, to kill the whole country by deleting one law. ¶ 4:55 AM
Canada and Australia were exempt from the 2008 crash BECAUSE THEY DIDN'T REPEAL THEIR 1930s SECURITIES LAWS.
US, UK, and other parts of Europe crashed because WE DID REPEAL OUR 1930s SECURITIES LAWS. It's no mystery. We allowed the Bank Mafia to kill us for fun and profit, while Canada and Australia kept their Bank Mafias under control.
I looked up Canada's securities laws to see if they're parallel to our Glass-Steagall, and found something that did surprise me. In fact Canada doesn't have a national law on the subject; each province has its own! Most were passed in the 1930s, but they seem to have come before Glass-Steagall. [Online info is skimpy.]
Actually this shouldn't have surprised me. Canada still has federalism, and we don't. Canada's provinces still have the kind of sovereignty that our states had in the distant past, before Mass-Murdering Psychopathic Madman Lincoln turned the country into a brutal bloody absolute totalitarian dictatorship by killing 600,000 Americans directly and starving a million ex-slaves indirectly.
Simple fact: Decoupling always works better than rigid coupling.
When authority is diffuse, it's much harder for a giant power to throw the whole system into collapse. America had one national securities law. So it was easy for the banksters, acting through Phil Gramm, to kill the whole country by deleting one law. ¶ 4:55 AM
