. . . promoting capitalist acts between consenting adults.
▼
Friday, 13 December 2019
Volcker: "Central banks are not exactly the harbingers of free market economies ... central banks were created as a means of financing the government." #QotD
"Central banks are not exactly the harbingers of free market economies... not at the cutting edge of a market economy; they were Johnny-come-latelies. ... Central banking is almost entirely a phenomenon of the twentieth century.... central banks were looked upon and created as a means of financing the government, which I do not think people have in mind when thinking about central banking today.”
~ Paul Volcker (Federal Reserve Chairman from 1979 to 1987) who died this week, speaking in 1990 on 'The Role of Central Banks' .
We welcome thoughtful disagreement. But we do (ir)regularly moderate comments -- and we *will* delete any with insulting or abusive language. Or if they're just inane or off topic. It’s okay to disagree, but pretend you’re having a drink in the living room with the person you’re disagreeing with. This includes me. PS: Have the honesty and courage to use your real name. That gives added weight to any opinion.
No comments:
Post a Comment
We welcome thoughtful disagreement.
But we do (ir)regularly moderate comments -- and we *will* delete any with insulting or abusive language. Or if they're just inane or off topic. It’s okay to disagree, but pretend you’re having a drink in the living room with the person you’re disagreeing with. This includes me.
PS: Have the honesty and courage to use your real name. That gives added weight to any opinion.