I am being told that the circuit below will regulate current, I am wondering how true that is and how exactly does it do it if so. As far as I can tell: two NPN transistor with their bases biased by the two resistors. This looks to be a negative feedback loop that holds current steady, but I don't quite understand the loop and if it really does regulate current.
A Google search shows me that a current regulator of which I think is the same as a current mirror normally has the bases of both transistors on one node of which doesn't seem to be the case in this circuit.
Here is the circuit: