"The Great Depression was the fault of the Fed," said Bernanke in 2002. "We will not return to make the same mistake." Soon he forgot his humility. A few years later looks set to surpass their predecessors.
is why many Americans are remembering that two of its most beloved presidents and ended up with respective central banks in their day: Jefferson and Jackson. The second was so proud I did register on his tombstone the words "I killed the Bank."
For anyone who understands the impossibility of economic calculation in socialism, or who knows Austrian business cycle theory , it is easy to pierce the veil of lies and propaganda to see the central bank as it is: an attempt at central economic planning by manipulating prices. In this case the price of money . He showed
L. Von Mises in theory in his book "Socialism ." Lenin demonstrated in practice when he formulated the NEP . Both events occurred in 1921. Since then it seems we have learned nothing.
Central banks are attempts at central economic planning through monopoly control of the currency and the setting of a price: the interest rates. Its objective: inflation. Why?
Guido Hulsman explains here:
Jesus Huerta de Soto explains causes of the crisis and its solution:
Financial Crisis and Recession
Lew Rockwell tells us that no government ever won 4000 years of history, a price war:
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