Central Banks

Tom Luongo explains the different factions among bankers, including rivalries between New York and San Francisco, and the US versus Europe.

Banking systems around the world have huge effects on our lives, yet few people understand how banks work. Worse yet, even fewer understand the malign powers of central banks and how this system undermines economies. Thus, it is important to demystify these systems.

It may not have been created in the lab of a mad scientist, but the euro is still a manufactured, cobbled-together currency made from a number of national monetary units. Indeed, it is the perfect Frankenstein currency.

Keynesians believe that if there is a bout of inflation, central banks can slowly guide the economy to a “soft landing” which minimizes unemployment and income losses. Such policies, however, only lead to further boom-and-bust scenarios.

Taxing "the rich" won't make life more affordable for ordinary people. The true cause of the affordability crisis is inflation caused by central banks. 

It may not have been created in the lab of a mad scientist, but the euro is still a manufactured, cobbled-together currency made from a number of national monetary units. Indeed, it is the perfect Frankenstein currency.

Keynesians believe that if there is a bout of inflation, central banks can slowly guide the economy to a “soft landing” which minimizes unemployment and income losses. Such policies, however, only lead to further boom-and-bust scenarios.

It is no surprise that "inflation" is one of the major political issues this election cycle, but few know what inflation really is, let alone what causes it.

The United States abolished its first three central banks, and this was followed by a period of immense economic growth. End the Fed? We did it before and can do it again. 

Taxing "the rich" won't make life more affordable for ordinary people. The true cause of the affordability crisis is inflation caused by central banks.