[from college paper]
Quote:
The Role of Central Banks
What are the two basic functions of central banks?
1. Protect us from systemic risk
"Systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to risk associated with any one individual entity, group or component of a system." -- Wikipedia
2. Keep inflation in check
|
They are teaching people things that not only aren't true, they're the opposite of the truth.
Where does inflation come from? The central bank. It prints money. Then it turns around and tells/teaches people it's "keeping inflation in check." That is the definition of chutzpah. Yet not one student in a million, unless he has come across the liberatarians (most likely) will realize he's being scammed.
Systemic risk is what the central bank CREATES. Again - what chutzpah. Did you want to bail out the high-dollar speculating kikes of Goldman Sachs? Hell, no. Did you? Yes. Did you have a choice? No. This horseshit masquerading as "college education" at one of the rountinely judged top ten public school liberal arts universities is embarassing and destructive.
If ten men are standing on a river, and one of them is going to fall in, is it safer if they're all tied together at the wrists?
That is analogous to what they're claiming about the central bank. They're making EVERYBODY pay, systemically, for the failures of any particular bank. Oh, and for the failed speculations of the very largest and richest banks.
In the name of security, they take away your freedom and your money. All you get is bullshit filtered through college-based charlatans called professors.
Allow currency competition. Allow banking competition. Let the investor beware. Don't force the competent, cautious investor to bail out the billionaire jew speculators, or the yahoo Texas Savings & Loan baptists.