Central Banks

It is often claimed that inflation reduces the true burden of debt. This is true for existing debt, but those who advocate it as a remedy for government indebtedness fail to understand that it also increases the cost of the government’s future debt.

Without a monopolist central bank, market forces would restrain the issuance of bank notes. But once central banks monopolize money creation, wealth is systematically transferred to the central bank and the privileged few who are favored by the state.

Ironically, the economic collapse in Europe has united both the poor and rich members of the EU in agreement that the EU has none of their best interests at heart. The political winds have shifted and are blowing against the EU.