Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
US Presidential Election Year Stock Market Seasonal Trend - 29th Nov 24
Who controls the past controls the future: who controls the present controls the past - 29th Nov 24
Gold After Trump Wins - 29th Nov 24
The AI Stocks, Housing, Inflation and Bitcoin Crypto Mega-trends - 27th Nov 24
Gold Price Ahead of the Thanksgiving Weekend - 27th Nov 24
Bitcoin Gravy Train Trend Forecast to June 2025 - 24th Nov 24
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Market Regulation is Newspeak

Politics / Market Regulation Dec 08, 2014 - 11:43 AM GMT

By: Dr_Jeff_Lewis

Politics

new•speak
ˈn(y)o͞oˌspēk/
noun

1. Ambiguous euphemistic language used chiefly in political propaganda.


“Don't you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thought-crime literally impossible, because there will be no words in which to express it. Every concept that can ever be needed will be expressed by exactly one word, with its meaning rigidly defined and all its subsidiary meanings rubbed out and forgotten. . . . The process will still be continuing long after you and I are dead. Every year fewer and fewer words; and the range of consciousness always a little smaller. Even now, of course, there's no reason or excuse for committing thought-crime. It's merely a question of self-discipline, reality-control. But in the end there won't be any need even for that. . . . Has it ever occurred to you, Winston, that by the year 2050, at the very latest, not a single human being will be alive who could understand such a conversation as we are having now?” ― George Orwell, 1984


Regulation is Newspeak

Things are not at all what they seem.

The word “regulation” has become a euphemism for control and the infestation of concentrated power and wealth. The “need to regulate” is floated as a panacea. In reality it is mere conduit for the influx bureaucracy gone wild.

Consumers - market participants - need to be protected. And yet these protections simply morph into a lobbyist’s dream come true, ending in an industry-constructed bureaucratic death trap that ultimately creates a medieval mote surrounding the masters.

We end up with revolving door madness, in which regulators are sourced from industry to “serve” and then return back to consult. Examples of individuals who have moved between roles in this way in sensitive areas include Dick Cheney (military contracting), Linda Fisher (pesticide and biotech), Philip Perry (homeland security), Pat Toomey, Dan Coats, and former FCC commissioner Meredith Attwell Baker (media lobbying).

High-profile U.S. Representative Democratic Dick Gephardt left his congressional post to become a lobbyist. His lobbying agency, Gephardt Government Affairs Group, earned close to $7 million in revenues in 2010 from clients including Goldman Sachs, Boeing, Visa Inc., Ameren Corporation, and Waste Management Inc.

And it’s widespread, occurring in all of the following agencies:

Bureau of Ocean Energy Management, Regulation and Enforcement
Environmental Protection Agency
Federal Aviation Administration
Federal Communications Commission
Federal Reserve Bank of New York
Food and Drug Administration
Nuclear Regulatory Commission
Securities and Exchange Commission
Office of the Comptroller of the Currency

It is needless to mention health care policy and regulation. Of course, the grotesque poster children in all of this hail from giant finance - where the newspeak is loudest.

The years of the so called financial deregulation, culminating with the end of Glass Steagal, came from the many decades of infestation that came before. This is how we end up with too big too fail, too big to prosecute, and just a few massive entities at the helm of modern world finance.

We are on the slippery slope toward totalitarianism, in the name of regulation. But the spirit of the word - the meaning understood by most - is ‘to be’ protected from the abuse of power - usually big corporation.

Observing the early evolution of net neutrality can be nauseating. No matter how it is characterized, in this, the modern age of regulatory capture and regulatory capitalism, it will only end well for industry.

Precious metals investors will get a kick out of this one:

Then there was this…

CFTC Launches National Campaign to Protect Consumers from Financial Fraud

http://www.cftc.gov/PressRoom/PressReleases/pr7063-14

Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) today launched CFTC SmartCheck, a new national campaign to help investors identify and protect themselves against financial fraud. The comprehensive campaign includes a new website, a national advertising campaign and interactive videos that will help investors spot investment offers that are potentially fraudulent. The new website, SmartCheck.CFTC.gov, unveiled today, is an educational tool that helps investors conduct background checks of financial professionals.

This is the poster child for the problem of regulation at the national level. Ultimately, agencies become protectors of industry to protect industry from the public.

The CFTC is collusive, along with the so-called 'self regulating CME. It's a joke. Not a funny one. But a very expensive joke - with innocent bystanders. From 2010...

Just when you think your ability to get any more disgusted or outraged is finally at its zenith — the point where it is unimaginable to think any worse of Wall Street or its related institutions — along comes a story that outrages you even more.

Futures Magazine published an article last week about the retirement letter that Commodity Futures Trading Commission (CFTC) Administrative Law Judge George Painter sent announcing his retirement.

In the letter, he announces that his fellow admin judge has never awarded a case to a plaintiff in 20 years, and that he did so at the urging of former CFTC Chair Wendy Gramm.

A reminder to those of you who may be unfamiliar with this particular corporate harlot: Gramm was not only the former CFTC chair, but she was an Enron board member and wife of deregulation architect Phill Gramm, who for reasons unknown to decent society, is gainfully employed as a fluffer at UBS, helping to further besmirch the reputation of that bailed out firm.

“In a notice sent to complainants and their attorneys, Judge Painter claims that Levine told him that he had promised former CFTC Chair Wendy Gramm “that he would never rule in a complainants favor”. Painter’s notice goes on to say, “A review of his rulings will confirm that he has fulfilled his vow.”

So much for fair commodities pricing. Economic policy gone wild grows out like a cancer as finance infests a larger part of the real economy. Corrupt regulators lead to….

The concentration of wealth will go out with a whimper.

Who will hear their cries? Of course, the cycle will continue. The vacuum left behind will the same as before.

This is why Marx saw the final battle with capitalism as being an obvious conclusion of multitudes of people pitted against a ruling elite that could not stand up to the sheer numbers of the multitudes.

For more articles like this, and/or for a breath of fresh silver market reality amidst the stench of denial and technically meaningless short term price obsessed madness, check out http://www.silver-coin-investor.com

By Dr. Jeff Lewis

    Dr. Jeffrey Lewis, in addition to running a busy medical practice, is the editor of Silver-Coin-Investor.com

    Copyright © 2014 Dr. Jeff Lewis- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Dr. Jeff Lewis Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in