Reply #13: It Is Not That Far Off, Sir, Examining Actual Practice

[The Magistrate]

Most of the industrialized world has in essence nationalized health care.

National oil companies are hardly novel, in countries whose oil forms a large part of their economic base, and essentially national oil companies could be found in European powers for much of the twentieth century.

The banking industry certainly has known its only period of stability and trust in this country under a regime of strict regulation instituted in the mid-1930s, which was unraveled during the 1980s and 1990s, and essentially disolbved in the new milenium. This argues for viewing government control of the industry as a positive good, and for the view that treating it as a wholly private concern is fraught with danger to society. Strictly speaking, the Constitution does allocate to Congress, and Congress alone, the chief authority employed by 'independent' (ie private) central banks, such as the Federal Reserve.