Liberty MavenRon Paul slams Ben Bernanke in House Speech
July 30th, 2009 9:30 pm | by Marc Gallagher | Published in Banking, Big Government, Economics, Federal Reserve, Ron Paul, congress, government spending | 18 Responses
Ron Paul gave a speech on the House floor a few hours ago in response to Bernanke’s comments during a “town hall” style event earlier this week where he suggested (once again) that looking at the book is the same as writing the book.
Ron Paul effectively defends HR1207 and a Fed Audit in this speech. I hope someone is listening. I hope those that have cosponsored his bill and the companion bill in the Senate will actually vote for it should it ever come up for a vote.
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July 31st, 2009 at 4:03 am (#)
Why not hold the FED to the same standards to which the government holds the citizenry. When we object to having all of our medical and financial records opened to the government or our mail, email and phone conversations recorded we are told "If you have nothing to hide, you have nothing to fear." Cannot the same question be asked of the FED?
July 31st, 2009 at 12:41 pm (#)
Excellent point, Stebro!
July 31st, 2009 at 6:05 pm (#)
Great point Stebro! I often think the same. I work for a bank and we are audited through and through…whey can't the American people Audit the Fed…if they hav nothing to hide? If they don't start listening there will be a major revolution…we need an uprising. People don't understand how America came to be. It was through uprisings and the "mobs" dis approvement of the government. Well…something needs to happen. Yes, i am an extremist! is there something wrong with that? I would rather be extreme then be a centrist cow who just follows the other cow in front of him!
August 2nd, 2009 at 7:30 am (#)
In my Tract The Age of Turbulence: Plea for a New World Economic Order, I explain the nature and causes of economic depressions.
It proves that the ominous fate of this economy is Keynes' Liquidity Trap.
A new, bigger Crash will come causing a real Great Depression II.
Preparing for the Crash, The Age of Turbulence. Proposes a way to profit from The Crash.
Using the yield curve as a predictor that strategy covers Treasuries, Corporate Bonds, Minerals (Oil, Precious Metals and Base Metals.) and Stocks.
Its aim is to profit from both the Asset Price Bubble and Irrational Exuberance and The Crash and Economic Depression that will ensue.
A turbulence in fluid dynamic is a chaotic state of a liquid or a gas. It Owns Most of the Proprieties of The Liquidity Trap, Origin of The Crash.
It tries to accomplish Alan Greenspan Mission Impossible:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away."
….
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong."
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
August 2nd, 2009 at 7:30 am (#)
In my Tract The Age of Turbulence: Plea for a New World Economic Order, I explain the nature and causes of economic depressions.
It proves that the ominous fate of this economy is Keynes' Liquidity Trap.
A new, bigger Crash will come causing a real Great Depression II.
Preparing for the Crash, The Age of Turbulence. Proposes a way to profit from The Crash.
Using the yield curve as a predictor that strategy covers Treasuries, Corporate Bonds, Minerals (Oil, Precious Metals and Base Metals.) and Stocks.
Its aim is to profit from both the Asset Price Bubble and Irrational Exuberance and The Crash and Economic Depression that will ensue.
A turbulence in fluid dynamic is a chaotic state of a liquid or a gas. It Owns Most of the Proprieties of The Liquidity Trap, Origin of The Crash.
It tries to accomplish Alan Greenspan Mission Impossible:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away."
….
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong."
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
August 2nd, 2009 at 7:30 am (#)
In my Tract The Age of Turbulence: Plea for a New World Economic Order, I explain the nature and causes of economic depressions.
It proves that the ominous fate of this economy is Keynes' Liquidity Trap.
A new, bigger Crash will come causing a real Great Depression II.
Preparing for the Crash, The Age of Turbulence. Proposes a way to profit from The Crash.
Using the yield curve as a predictor that strategy covers Treasuries, Corporate Bonds, Minerals (Oil, Precious Metals and Base Metals.) and Stocks.
Its aim is to profit from both the Asset Price Bubble and Irrational Exuberance and The Crash and Economic Depression that will ensue.
A turbulence in fluid dynamic is a chaotic state of a liquid or a gas. It Owns Most of the Proprieties of The Liquidity Trap, Origin of The Crash.
It tries to accomplish Alan Greenspan Mission Impossible:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away."
….
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong."
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
August 2nd, 2009 at 7:30 am (#)
In my Tract The Age of Turbulence: Plea for a New World Economic Order, I explain the nature and causes of economic depressions.
It proves that the ominous fate of this economy is Keynes' Liquidity Trap.
A new, bigger Crash will come causing a real Great Depression II.
Preparing for the Crash, The Age of Turbulence. Proposes a way to profit from The Crash.
Using the yield curve as a predictor that strategy covers Treasuries, Corporate Bonds, Minerals (Oil, Precious Metals and Base Metals.) and Stocks.
Its aim is to profit from both the Asset Price Bubble and Irrational Exuberance and The Crash and Economic Depression that will ensue.
A turbulence in fluid dynamic is a chaotic state of a liquid or a gas. It Owns Most of the Proprieties of The Liquidity Trap, Origin of The Crash.
It tries to accomplish Alan Greenspan Mission Impossible:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away."
….
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong."
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
August 2nd, 2009 at 7:30 am (#)
In my Tract The Age of Turbulence: Plea for a New World Economic Order, I explain the nature and causes of economic depressions.
It proves that the ominous fate of this economy is Keynes' Liquidity Trap.
A new, bigger Crash will come causing a real Great Depression II.
Preparing for the Crash, The Age of Turbulence. Proposes a way to profit from The Crash.
Using the yield curve as a predictor that strategy covers Treasuries, Corporate Bonds, Minerals (Oil, Precious Metals and Base Metals.) and Stocks.
Its aim is to profit from both the Asset Price Bubble and Irrational Exuberance and The Crash and Economic Depression that will ensue.
A turbulence in fluid dynamic is a chaotic state of a liquid or a gas. It Owns Most of the Proprieties of The Liquidity Trap, Origin of The Crash.
It tries to accomplish Alan Greenspan Mission Impossible:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away."
….
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong."
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
August 2nd, 2009 at 7:30 am (#)
In my Tract The Age of Turbulence: Plea for a New World Economic Order, I explain the nature and causes of economic depressions.
It proves that the ominous fate of this economy is Keynes' Liquidity Trap.
A new, bigger Crash will come causing a real Great Depression II.
Preparing for the Crash, The Age of Turbulence. Proposes a way to profit from The Crash.
Using the yield curve as a predictor that strategy covers Treasuries, Corporate Bonds, Minerals (Oil, Precious Metals and Base Metals.) and Stocks.
Its aim is to profit from both the Asset Price Bubble and Irrational Exuberance and The Crash and Economic Depression that will ensue.
A turbulence in fluid dynamic is a chaotic state of a liquid or a gas. It Owns Most of the Proprieties of The Liquidity Trap, Origin of The Crash.
It tries to accomplish Alan Greenspan Mission Impossible:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away."
….
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong."
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
August 2nd, 2009 at 7:30 am (#)
In my Tract The Age of Turbulence: Plea for a New World Economic Order, I explain the nature and causes of economic depressions.
It proves that the ominous fate of this economy is Keynes' Liquidity Trap.
A new, bigger Crash will come causing a real Great Depression II.
Preparing for the Crash, The Age of Turbulence. Proposes a way to profit from The Crash.
Using the yield curve as a predictor that strategy covers Treasuries, Corporate Bonds, Minerals (Oil, Precious Metals and Base Metals.) and Stocks.
Its aim is to profit from both the Asset Price Bubble and Irrational Exuberance and The Crash and Economic Depression that will ensue.
A turbulence in fluid dynamic is a chaotic state of a liquid or a gas. It Owns Most of the Proprieties of The Liquidity Trap, Origin of The Crash.
It tries to accomplish Alan Greenspan Mission Impossible:
"That is mission impossible. Indeed, the international financial community has made numerous efforts in recent years to establish such oversight, but none prevented or ameliorated the crisis that began last summer.
Much as we might wish otherwise, policy makers cannot reliably anticipate financial or economic shocks or the consequences of economic imbalances.
Financial crises are characterised by discontinuous breaks in market pricing the timing of which by definition must be unanticipated – if people see them coming, then the markets arbitrage them away."
….
The clear evidence of underpricing of risk did not prod private sector risk management to tighten the reins.
In retrospect, it appears that the most market-savvy managers, although conscious that they were taking extraordinary risks, succumbed to the concern that unless they continued to "get up and dance", as ex-Citigroup CEO Chuck Prince memorably put it, they would irretrievably lose market share.
Instead, they gambled that they could keep adding to their risky positions and still sell them out before the deluge. Most were wrong."
Alan Greenspan
The Age of Turbulence: Adventures in a New World [Economic Order?].
August 2nd, 2009 at 7:31 am (#)
I propose a plausible alternative solution to the depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to ¥€$ Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion,
but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed,
or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together,
it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor,
their sick, their widows and orphans, by giving them a common interest to manage,
renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
Buy Now The Tract That Will Be Published September 17th, 2009.
August 2nd, 2009 at 7:31 am (#)
I propose a plausible alternative solution to the depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to ¥€$ Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion,
but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed,
or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together,
it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor,
their sick, their widows and orphans, by giving them a common interest to manage,
renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
Buy Now The Tract That Will Be Published September 17th, 2009.
August 2nd, 2009 at 7:31 am (#)
I propose a plausible alternative solution to the depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to ¥€$ Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion,
but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed,
or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together,
it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor,
their sick, their widows and orphans, by giving them a common interest to manage,
renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
Buy Now The Tract That Will Be Published September 17th, 2009.
August 2nd, 2009 at 7:31 am (#)
I propose a plausible alternative solution to the depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to ¥€$ Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion,
but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed,
or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together,
it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor,
their sick, their widows and orphans, by giving them a common interest to manage,
renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
Buy Now The Tract That Will Be Published September 17th, 2009.
August 2nd, 2009 at 7:31 am (#)
I propose a plausible alternative solution to the depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to ¥€$ Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion,
but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed,
or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together,
it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor,
their sick, their widows and orphans, by giving them a common interest to manage,
renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
Buy Now The Tract That Will Be Published September 17th, 2009.
August 2nd, 2009 at 7:31 am (#)
I propose a plausible alternative solution to the depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to ¥€$ Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion,
but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed,
or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together,
it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor,
their sick, their widows and orphans, by giving them a common interest to manage,
renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
Buy Now The Tract That Will Be Published September 17th, 2009.
August 2nd, 2009 at 7:31 am (#)
I propose a plausible alternative solution to the depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to ¥€$ Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion,
but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed,
or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together,
it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor,
their sick, their widows and orphans, by giving them a common interest to manage,
renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
Buy Now The Tract That Will Be Published September 17th, 2009.
August 2nd, 2009 at 7:31 am (#)
I propose a plausible alternative solution to the depression: I designed a System that will allow us, when The Crash will come, to get out of Credit Based Free Market Economy, Capitalism, and transfer to my Adjusted Credit Free, Free Market Economy and Abolish the FED:
To participate in our new economy you need to ¥€$ Enter Your €5 in The Cra$h R€gi$t€r. Before The Crash.
I.10.82
"People of the same trade seldom meet together, even for merriment and diversion,
but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.
It is impossible indeed to prevent such meetings, by any law which either could be executed,
or would be consistent with liberty and justice.
But though the law cannot hinder people of the same trade from sometimes assembling together,
it ought to do nothing to facilitate such assemblies; much less to render them necessary.
I.10.83
A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. It connects individuals who might never otherwise be known to one another, and gives every man of the trade a direction where to find every other man of it.
I.10.84
A regulation which enables those of the same trade to tax themselves in order to provide for their poor,
their sick, their widows and orphans, by giving them a common interest to manage,
renders such assemblies necessary."
Adam Smith
June 5th, 1723 – July 17tn, 1790
An Inquiry Into the Nature and Causes of the Wealth of Nations.
Inequalities Occasioned by the Policy of Europe.
March 9th, 1776
Buy Now The Tract That Will Be Published September 17th, 2009.