Great, so could I. Btw, Kondratiev wave / cycles are a joke.
Originally Posted by Stormin_Norman
More to the point, a Gold Standard would have less problems than the current Communist system. Guaranteed.
Their existence is a glaring contradiction to their stated goals. They destabilize the economy with their policies, it's not the other way around. They create inflation, fractional reserve banking is inherently inflationary.
why do u laugh at the independence of the central bank? their job is a measured monetary growth and inflation.
Why do I laugh at it's "independence"?
Here is why:
The standard reply of the Fed and its partisans is that any such measures, however marginal, would encroach on the Fed's "independence from politics" which is invoked as a kind of self-evident absolute. The monetary system is highly important, it is claimed, and therefore the Fed must enjoy absolute independence.
"Independent of politics" has a nice, neat ring to it, and has been a staple of proposals for bureaucratic intervention and power ever since the Progressive Era. Sweeping the streets; control of seaports; regulation of industry; providing social security; these and many other functions of government are held to be "too important" to be subject to the vagaries of political whims. But it is one thing to say that private, or market, activities should be free of government control, and "independent of politics" in that sense. But these are government agencies and operations we are talking about, and to say that government should be "independent of politics" conveys very different implications.
For government, unlike private industry on the market, is not accountable either to stockholders or consumers. Government can only be accountable to the public and to its representatives in the legislature; and if government becomes "independent of politics" it can only mean that that sphere of government becomes an absolute self-perpetuating oligarchy, accountable to no one and never subject to the public's ability to change its personnel or to "throw the rascals out." If no person or group, whether stockholders or voters, can displace a ruling elite, then such an elite becomes more suitable for a dictatorship than for an allegedly democratic country.
The Case Against the Fed - Murray N. Rothbard
LOL.. You call "Quantitative easing", putting pressure on them to wind up the printing presses? Gtfo.
when governments spend trillions more then they have and put pressure on the central bank to wind up the printing presses to pay for it - that's the problem.
No, theft is evil. Taxation is theft. And Inflation is a hidden tax.
even deficits are only quite evil. printing money stopping the bond market disciplining excess government spending is pure evil.
borrowing money to spend more then u have is one thing. printing money you dont have to spend it is catastrophic.