Friday, April 29, 2016

No Matter How Bad It Gets, 
Some Will Always Love 
Monopoly Central Banking
The Daily Bell highlights recent articles pushing for a central bank planning approach & promoting more government debt .. contrast this to free market economics: "The Austrian model is one that emphasizes the individual’s 'human action' – his or her ability to live without the manifold supports of modern government. This is one reason Austrian economics is not popular with the public bureaucracy, the Western monetary and industrial elite – and their representatives in academia .. Central banks buy a good deal of public debt – and it’s not usually corporate debt either. In fact, the modern state is inextricably wedded to monopoly central banking .. And the U.S. is indeed in the fortunate position of being able to print loads of debt because the dollar is yet in demand .. The idea that a public debt, administered by a few on behalf of the many, is a blessing of any sort is yet another faux paradigm. Giving any single group control of value and volume of money is a terrible mistake. .. Unfortunately, from earliest times in the U.S., the country has had proponents of monetary elitism. It is a mistake to think they will ever be vanquished, regardless of the growing debasement and misery that monopoly central banking predictably inflict."
LINK HERE to the essay

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