- May 6, 2011 -
Author J.L. Leclec calls on U.S. to dismantle the Federal Reserve System. In his new book, "The Price of Freedom", Leclerc shows how Free Banking could operate with little government intervention. The common law system could be used to determine if banks are within the law and would provide adequate punishment for fraud. Leclerc also suggest that insurance companies and re insurers would be the stop gap, to protect consumers from loss, and would rate banks as to their stability.
With the level of information technology that's available today, consumers could readily determine which banks are sound. This would also increase competition, which historically has always been good for consumers. Leclerc claims that by using common law instead of over bloated regulatory agencies, the U.S. and state governments could save money which could help reduce government deficits.
"The Price of Feedom," by J.L. Leclerc is available at http://www.amazon.com/The-Price-of-Freedom-ebook/dp/B004Y...