Wednesday, May 25, 2016

Rearranging Titanic Deck Chairs: 
Economist, Candidates, Endorse 
Cosmetic Central Bank Changes
"The Economist: "The most extreme sceptics peddle conspiracy theories about how the Fed 'debases' the dollar. They propose abolishing the central bank entirely. Any of these schemes would be disastrous—either because they would jeopardise the central bank’s independence, or because they would cast monetary policy adrift." .. This is what The Economist is really worried about. Those who run the magazine will disguise the catastrophe of central banking anyway that they can, so long as they can preserve it .. Monetary policy is actually price-fixing. What is there about price-fixing that The Economist finds persuasive or credible? There is no way for free-market proponents to defend central banking. Fundamentally, The Economist – while trying to portray itself as free-market oriented – is an authoritarian publication. It is impossible to endorse competitive capitalism while insisting on a monetary monopoly enforced by government. The West and the world will begin to shift back to a more prosperous and sane economic model once monopoly central banking is abolished. Meanwhile, changing faces or even restricting banker participation is like rearranging deck chairs on the Titanic. The ship is still going down."
- The Daily Bell
LINK HERE to the essay

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