“Blame Central Banking Not Banks”
“Too much money leads first to a boom and then a terrible bust. Re-stimulation continues the process and makes economic imbalances worse over time until finally the whole system begins to collapse and something else emerges. We are in a collapse phase currently.
The problems begin and end with mercantilist central banks. Absent central banks and government involvement in money, gold and silver – probably in a free-banking environment with or without fractional banking – would be the order of the day. There would still be booms and busts, but they would likely be shorter in nature, regional in scope and far less destructive. Additionally each business cycle would thoroughly wring itself out instead of merely setting the stage for more serious problems down the road.” Read more.
“Blame Central Banking Not Banks”
The Daily Caller, July 16, 2010.
Image by jscreationzs / FreeDigitalPhotos.net.
