Comments by "Gugle Yuser" (@fwfeo) on "The Banking Crisis Has Gone Global" video.

  1. Peter is making his libertarian pitch of free market and people putting their money where they want, but also have the risk of losing it all if the bank goes under. Libertarians believe in free market and real competition. But how would anyone know that their bank is safer than the other bank that’s gambling with our money? Same goes for corporations. How do you know which one is cutting corners and feeding the children tainted baby formula?? I bet libertarian society can exist really well in a village where everyone knows each other and sees how the other one works, but today we have no clue where things come from. That’s why a representative of the people (government) has to set up guidelines and inspect all relevant institutions to ensure the safety of the populace. The problem is that same banks and corporations have bought of the government and capture the regulatory system. And what will stop them from buying the government and the press under libertarian system and hide their wrongdoings till it’s too late? A libertarian system is a vastly different system and a vastly different lifestyle and thinking and I’m not sure if anyone is ready for it except the ultra rich who can build a castle and hire a militia to protect them! (This is not to support or approve how the system is run as it is. I think an honest mixed economy could work as long as the government is kept clean from business influence and worker rights are preserved and population is well informed)
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