Nick Fleming: Limited Role of Government 8-7-21


Nicks Intel Update

Updates concerning the RV/GCR

08/07/2021 Limited Role of Government

Mr. Bradley has been practicing for 24 years as a European Licensed attorney and a U.S. Licensed attorney practicing Banking & SecuritiesWealth ManagementTrust & Estate Planningreal estate development and other high finance corporate transactional matters. Mr. Bradley actually began his professional career as a Commercial banker/ private banker/ Wealth Manager for 10 YEARS before becoming a Series 24 Principal** FINRA licensed investment banker/ Tier 1 Institutional Trader/ Fund Manager/ Wealth Manager/ and Certified Financial Planner (CFP) for 10 YEARS. He holds a Doctorate in Law (JD) from Texas A&M Law School and a Bachelors of Business Administration (BBA), double major, in Finance & Economics from the University of Texas (UT).

** NOTE: Series 24 Principals govern, manage, monitor and must sign off on all securities activities of all subordinate Series 7 licensed traders & brokers, including its office Ops Managers, its Cashiers, and all other support personnel of a securities firm (aka stock broker, investment banking firm, trading firm, securities firm, bond broker, commodities broker, Options & Futures Broker).

The Limited Role of Government in a Free Enterprise System.

Our Founders understood that relatively free markets are the most effective form of social organization for promoting individual freedoms. Indeed, capitalism is defined as a system or individuals who are free to pursue their own interest, make voluntary exchanges, and hold private property rights and goods and services. Much of the original intent of the United States Constitution, as seen in the document itself and in the Federalist Papers that advocated its ratification, was to bring about a climate in which this kind of social organization could occur. And in a free society, where most relationships should be voluntarily, and involuntary Exchanges should be minimized.

The cornerstone of a truly free enterprise economy is the absence of governmental interference in private economic matters.

Some, if not most, in our society are very confused when it comes to the role government must assume in a free market economy. There is a reason why it is called “free market economy”. It is called so because government must not dictate the course the economy should take. When you have government controlling and/or interfering in the course the economy should or must take, then we have an economy that ceases to be free.

The key idea underlying a free enterprise system is that we, as individuals, know best how to pursue our own well-being. The government in its role does not know us individually and our respective, specific, financial needs. And in competitive markets, a free enterprise system is largely self-regulating. Therefore, government plays a very limited role toward allowing individuals to make their own economic decisions.

The role of government in free market economy is to guarantee the fluidity and complete functioning of the world of business.

More specifically, government has two specific roles: Rule Maker and Umpire.

In its role as “rule maker”, the government makes and enforces laws governing the conditions under which voluntary transactions are made. These laws are designed to protect the rights to private property and individual freedoms and to preserve and promote competition in a free enterprise system. No more, no less.

As an “umpire”, the government acts to settle disputes which may result from conflicting interpretations of the rules (or) the interpretations of a written contract; which is governing the free enterprise system and its resulting business. Beyond this, government has no other major economic responsibilities, obligations, powers, or duties.

Truthfully speaking, in a pure free enterprise system the governmental role is clearly and specifically limited to keeping the system free and competitive. The Government’s participation in day-to-day economic decision making is not a part of a free enterprise system. Any interference, any interjections, any government imposed restrictions, any government sanctioned controls and/or mandates terminates the meaning and value of a free enterprise system.

As an example, the government may establish the laws, rules and regulations governing how financial institutions (ie. federal chartered banks, state chartered banks, credit unions, stock brokerages) operate in order to protect its depositor’s money. 

However these laws place restrictions upon the bank.  Everyone knows its against the law for a bank to charge fees to a depositor to withdraw his own money from his own bank, or charge a fee to deposit money into his own account. Furthermore, neither the bank, nor the government, may dictate how a depositor utilizes their money, invests their money, or spends their money. 

This is because the money belongs to the depositor, not the bank, not the government. 

The financial institution’s role is merely to serve as “custodian” of the depositor’s money. 

In other words, the financial institution works for the depositor. The depositor does not work for the financial institution. And financial institutions know depositors have the unfettered right to freely move their money to any other bank, or investment bank, or credit union that serves the needs of the depositor.

Again, the government has no role in a free enterprise capitalistic system other than to guarantee fluidity and keeping the economic system free & competitive. And, once again, since this is a very critical and key point, the government has no rights in controlling or dictating terms on depositor’s money; as the money belongs to the depositor, not the government, not the bank.

This is the free enterprise, capitalistic, democratic system that our Founding Fathers fought to preserve. Our Founding Fathers never intended that the People serve the government, and/or to serve its Congressmen and/or to serve its Senators. The government is a servant of the People, by the People, and serves at the will of its People.

James Bradley
Bradley Law Group LLCUS Attorneys / UK Solicitors
Dallas, TX USA  (GMT+6)


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