The Great Dispossession Part 4

April 17, 2024 | Categories: Articles & Columns | Tags: |  Print This Article

The Great Dispossession Part 4

Paul Craig Roberts

Under the 5th and 14th Amendments to the US Constitution the transformation of our financial property into collateral for secured creditors constitutes a taking. I don’t know whether the taking that exists in the regulations can be taken to court and ruled against prior to a taking actually occurring. Probably not.

The question therefore is how effective will a court ruling be in a situation of financial chaos. Clearly, those who devised the taking regulations either were ignorant of the taking clause or do not expect a Constitutional ruling to prevail.

If the legal profession were to take up this matter, perhaps the discrediting of the regulations would render them useless and force financial regulators and Congress to find other solutions to the problem. Clearly, the ability to create endless amounts of derivatives must be abolished.