Money and Banking

The Federal Reserve has created a tsunami of new money, but a tsunami ultimately must crash, and so will the Fed's inflation scheme.

While the usual characters praise central banks for supposedly bringing economic stability, Dr. Shostak explains that their presence makes things unstable because they break the relationship between saving and lending.

With the Eurozone’s global systemically important banks geared up to 30x, rising bond yields of little more than a few percent could collapse the entire euro system.

"My preference would be that all state central banks would be shut down and razed to the ground, so that true money again could be produced by private firms. If not, at least the competition between national currencies should be as great as possible." –Murray Rothbard, 1993