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To: Sam who wrote (2927)	1/8/2001 11:04:31 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 3536

Nice catch :) I am definitely in favor of a pragmatic approach and not in favor of pursuing libertarian principles without regard to the current situation. To be clear I think a free market alternative to the Fed would be achievable but would require cultural and social changes that could only be achieved through evolution not revolution. So my libertarianism runs toward taking the reality of the current system and moving it towards free market solutions and not towards radicalism. I also strongly believe that even under a pure libertarian system there would be a place for a third party that would have the ability to set standards and rate adherence. Some combination of an insurer and a Good Housekeeping seal of approval. It would even be possible to give it legal teeth. Of course under pure Libertarianism acquiesence to such an agency would be a matter of choice and individuals would be free to risk dealing with non participating entities.... at their own risk :) But you are right this is an imperfect world and oversight is desirable (note difference in emphasis). Theoretically it need not be by government fiat. After all government fiat didn't do that well in the S&L crisis. Philospophical discussions are always fun. Henry