gold, page-104848

Economically, right-libertarians make no distinction between capitalism and free markets and view any attempt to dictate the market process as counterproductive, emphasizing the mechanisms and self-regulating nature of the market whilst portraying government intervention and attempts to redistribute wealth as invariably unnecessary and counter-productive.[1"Another day, another banking scandal.

Last week the European Commission announced that it’s fining five big banks for rigging the international foreign exchange (forex) market. As many as 11 world currencies—including the euro, British pound, Japanese yen and U.S. dollar—were allegedly manipulated by traders working at Barclays, the Royal Bank of Scotland (RBS), Citigroup, JPMorgan and Japan’s MUFG Bank. Altogether, the fines come out to a whopping 1.07 billion euros ($1.2 billion). According to the press release dated May 16, the infringements took place between December 2007 and January 2013. Traders working on behalf of the offending banks secretly shared sensitive trading information. This enabled the traders—who were direct competitors—to “make informed market decisions on whether to sell or buy the currencies they had in their portfolios and when.” Financial services is already the least trusted sector among seven others worldwide, according to the 2019 Edelman Trust Barometer. News of the coordinated forex rigging—which follows other high-profile scandals such as the Libor scandal, Wells Fargo fake account scandal, gold fixing scandal"

What is this symptomatic of? Well, of a capitalist system running amok.

No really says the goldbug, because the problem is state intervention via central banking. Remove the Fed, the European Central Bank, the Bank of Japan, etc, etc, and reinstate gold to the function of global monetary supervisor, and everything thereafter will be fine.

Right-libertarianism,[1][2][3][4][5] also known as libertarian capitalism[6] or right-wing libertarianism,[1][7] is a political philosophy and type of libertarianism that supports capitalist property rights and defends market distribution of natural resources and private property.[8] The term right-libertarianism is used to distinguish this class of views on the nature of property and capital[9] from left-libertarianism, a type of libertarianism that combines self-ownership with an egalitarian approach to natural resources.[10] In contrast to socialist libertarianism,[4] right-libertarianism supports free-market capitalism.[1]

Right-libertarians typically see the state as the principal threat to liberty. This anti-statism differs from anarchist doctrines in that it is based upon an uncompromising individualism that places little or no emphasis on human sociability or cooperation.[2][14][15]

Economically, right-libertarians make no distinction between capitalism and free markets and view any attempt to dictate the market process as counterproductive, emphasizing the mechanisms and self-regulating nature of the market whilst portraying government intervention and attempts to redistribute wealth as invariably unnecessary and counter-productive.[1}


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