Thursday, 18 February 2010

Central Banking: create the problem you claim to solve!

I'd like to open this post with a hilarious wiki article that appears to have been written by a dummy, rather than "for dummies".

Of course, not all of us are that naive.

Many authors are aware that there is something decidedly fishy about central banking and yet many of them completely mis-identify what makes the Federal Reserve, ECB and BoE smell of kippers.

One such author is Stephen Zarlenga, whose solution to government control of the money supply is...even more government control of the money supply.

This article by Kaj Grussner of the Mises Institute neatly illustrates where statist money cranks such as Paul Grignon, Ellen Brown and Stephen Zarlenga got it completely wrong.

Personally, I'm getting a little tired of people claiming that they "don't understand" the "complex issues" around the government monopoly on money.

What's "complicated" about the fact that money predates government?

No comments: