Philman

Roubini Attacks Bailout, But Misses Boat on Regulation

Mike, you are right on!

Close down the Fed. Interest rates should be set by the market.

Close down the Exchange Rate Stabilization Fund, which was created in 1933 with the winnings from Roosevelt's confiscation of all the privately owned gold in America. That was an unconstitutional act, and all the gold should be returned to the descendants of its owners. Exchange rates must be set by the market. If America becomes competitive, it will sell its goods, and have a balance in trade, or a surplus, and there will be no need for the kind of government intervention that is happening now.