[ExI] Economy: "The Big Takeover"

Stathis Papaioannou stathisp at gmail.com
Thu Mar 26 00:47:54 UTC 2009

2009/3/26 painlord2k at libero.it <painlord2k at libero.it>:

> Calling the US a free market is not correct until the FED. is able to decree
> the quantity of money available, who will receive it and how much it will
> cost to him.
> Money is needed in any minimally complex free market, but when the money is
> controlled by the government and have not material value, the market is not
> free. Unfortunately, the government is not able in any way to manage any
> minimally complex economy. So, as usual, its meddling will only cause
> damages.

As I explained before, the Federal Reserve Bank in the US (and the
central bank of many other countries) is not strictly controlled by
the Government, in the same way that the courts are not controlled by
the Government. This was ostensibly done in order to prevent party
political meddling with the currency and monetary policy. Of course,
both the Fed and the courts are not in fact as independent of
Government in practice as they are supposed to be in theory.

Stathis Papaioannou

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