Central banks are a bit “communist way of thinking”. No?
Money has become a commodity just like anything else in limited supply it’s real world value or buying power fluctuates due to the supply and demand of money.
Now I don’t agree with central banks like the federal reserve or the bank of England because to me it is there just to control the market of money. To control the real value, supply and demand of money which they can do easily.
This to me is similar to communist markets where by everything was decided by the government, from what would be produced to how much it would be sold for.
Wouldn’t it make more sense to apply the same free market ideals we have with trading produce to the market of money?
I don’t see the relation between pay cheque and a central bank as far as i’m aware they play no middleman role within the exchange or conversion of real or implied money.
between private banks that is.
Tagged with: Conversion • Federal Reserve • Real World
Filed under: Commodity Trading
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The wall went down, where did the communiists go? TO THTE BANKS! (and they are breeding Pit Bulls)
no because money wouldnt exist in an actual communist state
Hayek won a Nobel for showing that centralized banking inevitably leads to booms and busts in the market. That’s an argument against such practice. Simply being “communist” is not. Police, fire departments, public schools, etc., are also communist.
Centralized banking is indeed one of the imperatives of the Socialist International.
The creation of the Federal Reserve was part of the “Progressive* reform” early in the 20th Century. Nothing they did or do now** is compatible with Americanism.
A central banks makes things like check clearing possible.
Would you rather have to drive to the bank your paycheck is written against to get it cashed, then haul your way to your own bank to deposit the cash?
A modern economy requires some sort of centralized banking system. You can argue the Fed has to great a role, but without it, we’d have to switch to an all cash system.