Kitty Antonik Wakfer has left a new comment on your post "Bea Edwards: Corruption and fraud at IMF, the Worl...":
"In the past year, the federal government has given away hundreds of billions of dollars"
The real problem comes with the fact that governments are giving away money that they have expropriated from the citizens of whatever country is being discussed - in this case the US. Governments via their enforcers' threats of (or actual initiation of) physical force obtain funds from individuals and then spend it in a variety of ways that many (?most?) individuals would never were they permitted to keep their own money.
Currently we do not live in a society of liberty. While we have an enormous number of available actions (freedom) we are socially constrained by government in regards to a great number of these - not at liberty to take many actions. (Note that I am differentiating between freedom and liberty per definitions here: http://selfsip.org/solutions/NSC.html#freedom) Keeping all the money one earns in voluntary transactions with others - and even making many transactions at all - is not something governments legally permit those in their jurisdiction to do on their own.
In a true society of liberty, there would be no enforcement agents with authorized power to initiate physical force to obtain money or anything else. A financial institution would only operate with money voluntarily entrusted to them by individuals, most of whom would not do so with companies that didn't make their practices fully clear to all investors. The World Bank and International Monetary Fund (IMF) are two such examples that I expect most individuals would have nothing to do with voluntarily; they only exist by virtue of governments and their current power to expropriate their citizens' money.
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As always Kitty, thanks for your valuable input ;)
Greg
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