Dirty South September Initiatives Thread

[SPC]

End to Fractional Reserve Banking Act
All banks operating in the Dirty South shall be required to have 100% reserves for all demand deposits by September 2010.


End to Income Taxation Act
Section 1: All personal income taxes in the Dirty South are repealed.
Section 2: All corporate income taxes in the Dirty South are repealed.


Road Management Act
Section 1: Regional roads in the Dirty South shall be auctioned off to the highest bidder.
Section 2: All money collected from roads sold shall be refuned to taxpayers.
Section 3: Taxes for road maintenance and construction shall be lowered in proportioned with the percent of roads sold.

[SPC]

I'm glad the ignore button exists.

[SPC]

Killing Two Birds With One Stone Act
Section 1: All money given to the Dirty South in the 2009 Atlasian Recovery & Relief Act shall be burned in a public ceromony.
Section 2: Tickets shall be sold for seats at the event, which will be used to raise money for the Dirty South while still maintaining a low tax burden.

[SPC]

End to Fractional Reserve Banking Act
All banks operating in the Dirty South shall be required to have 100% reserves for all demand deposits

Oh. My. God.

I'm no banking expert, but I believe most banks have historically kept only between 10 to 20 percent reserves. This drags banking back to literally PRE-19th century standards.I'll consider introducing legislation in the Mideast to prepare for the refugees from DS when your banking system literally collapses overnight dragging down the entire region economy with it.

     I would also like to point out that regulating the activities of banks in such a fashion is really not a libertarian thing to do at all. I don't know why SPC would propose an initiative like that.

Protecting people from fraud is a libertarian thing to do. This would only affect demand despoits; time deposits could have any amount of money in reserve as the bank chooses

[SPC]

I suggest we look at reactivation of the Southeast Deficit Package Initiative:
https://uselectionatlas.org/AFEWIKI/index.php/Southeast_Deficit_Package_Initiative

End to Fractional Reserve Banking Act
All banks operating in the Dirty South shall be required to have 100% reserves for all demand deposits

I would suggest changing this to something along the lines of banks shall have 1 year (maybe longer) to come into compliance. Maybe something else like they would have 6 months to be at least 50%. At a minimum specify a time line for them to come into compliance.

If this initiative passed, even with Brandon's amendment, I strongly urge the GM to find multiple persons outside the forum with some familiarity through employment, education, etc with banking, say at least 3, and make sure all are self-professed conservatives to avoid inevitable complaints of liberal bias. Then ask them what the likely outcome of such a law being passed in real life would be, then impose their best case (or rather "least worse") scenario on the Dirty South economy.
Even then with unemployment topping 30% and the regional economy imploding harder than a mine collapse, no one down there would likely change policies one whit.

I'm at college so three conservative economics professors wouldn't be hard to come by.

As GM and through my (limited, yet present) knowledge of economics, I can project that such a law would have devastating effects on the regions economy, drastically reducing the supply of money at a rate many times greater than a simple addition equation.

Why don't you ask three libertarian economists what the effect would be so your report could be truly unbiased.

[SPC]

I suggest we look at reactivation of the Southeast Deficit Package Initiative:
https://uselectionatlas.org/AFEWIKI/index.php/Southeast_Deficit_Package_Initiative

End to Fractional Reserve Banking Act
All banks operating in the Dirty South shall be required to have 100% reserves for all demand deposits

I would suggest changing this to something along the lines of banks shall have 1 year (maybe longer) to come into compliance. Maybe something else like they would have 6 months to be at least 50%. At a minimum specify a time line for them to come into compliance.

If this initiative passed, even with Brandon's amendment, I strongly urge the GM to find multiple persons outside the forum with some familiarity through employment, education, etc with banking, say at least 3, and make sure all are self-professed conservatives to avoid inevitable complaints of liberal bias. Then ask them what the likely outcome of such a law being passed in real life would be, then impose their best case (or rather "least worse") scenario on the Dirty South economy.
Even then with unemployment topping 30% and the regional economy imploding harder than a mine collapse, no one down there would likely change policies one whit.

I'm at college so three conservative economics professors wouldn't be hard to come by.

As GM and through my (limited, yet present) knowledge of economics, I can project that such a law would have devastating effects on the regions economy, drastically reducing the supply of money at a rate many times greater than a simple addition equation.

Why don't you ask three libertarian economists what the effect would be so your report could be truly unbiased.

How exactly are your actions libertarian? You are placing stringent government restrictions and regulations on free-enterprise institutions. If anything libertarian professors would back me up more than their colleagues.

O RLY? http://www.lewrockwell.com/rothbard/frb.html

[SPC]

In the article, Rothbard mentions something like "Suppose I have my own bank" instead of the federal reserve. We had an initiative that was ruled unconstitutional that would have had the Southeast using its own currency. As long as the region has to operate using federal reserve notes, I'm not sure we could eliminate FRB without putting us at a disadvantage compared to other regions.

I do have a contact that's an economics professor at Loyola. I'm tempted to ask him what he thinks would happen if this were done.

I suspect that economist would agree that fractional reserve banking is bad
http://www.lewrockwell.com/block/block110.html
http://www.lewrockwell.com/block/block111.html

[SPC]

O RLY? http://www.lewrockwell.com/rothbard/frb.html

Ah, a hardcore anarcho-capitalist who is critical of the US's involvement in WWII. He has a degree in English for pete's sake. This guy is an "expert" on fringe liebertarian philosophy, but seems to have no background in economics, let alone banking. Y'know, 3 self-described conservative libertarian economists would probably forcast (quite correctly) an absolute collapse of the regional banking system utterly flushing down the rest of the regional economy as well.

You all are of course free to try any experiment you wish in your region. If nothing else please consider the devestaing ripple effects the collapse of your regional economy will have on the rest of the country.

Maybe you would like to back up your claims before you make them:

You must be logged in to read this quote.

http://en.wikipedia.org/wiki/Murray_Rothbard

[SPC]

O RLY? http://www.lewrockwell.com/rothbard/frb.html

Ah, a hardcore anarcho-capitalist who is critical of the US's involvement in WWII. He has a degree in English for pete's sake. This guy is an "expert" on fringe liebertarian philosophy, but seems to have no background in economics, let alone banking. Y'know, 3 self-described conservative libertarian economists would probably forcast (quite correctly) an absolute collapse of the regional banking system utterly flushing down the rest of the regional economy as well.

You all are of course free to try any experiment you wish in your region. If nothing else please consider the devestaing ripple effects the collapse of your regional economy will have on the rest of the country.

Maybe you would like to back up your claims before you make them:

You must be logged in to read this quote.

http://en.wikipedia.org/wiki/Murray_Rothbard

Sorry, I was referring to Lew Rockwell.

I read Rothbard's paper and, with deference to the degrees he's attained, his premise is that the Fed Reserve is basically a giant ponzi scheme which is more a philisophical/politcal assessment of the federal government than economic analysis.

The end result would still be utter ruination. Not nearly as bad as the federal government offering a public option for health insurance, of course, but still really really really bad.

Well, obviously Ponzi schemes do not have a positive effect on the economy, so our effort in the Dirty South to end this Ponzi scheme should help the economy in the long run, even if is had bad effects in the short term.

[SPC]

Ah, to be young again and the copy and paste my arguments from other people because I can't make them myself.

Those were the days.

I only did that because Badger suggested that Purple State get an opinion from an economist, so I provided some.