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If everybody had an account with the central banks, sure. For now the SUs only have access to the major-banks sandbox, and playing around in this sandbox does n

by hx87 10y ago

If everybody had an account with the central banks, sure. For now the SUs only have access to the major-banks sandbox, and playing around in this sandbox does nothing except cause asset inflation.

wu-ikkyu 10y ago
The 2008 bailout and subsequent legislation[1] indicates it is the major-banks (i.e. JP Morgan, BOA) which have the leverage to create money at will over the central-banks (i.e. the Fed). Hence the term "Too Big to Fail" -- de facto SUs. Doesn't the major-banks' sandbox extend across the world to any person or government who accepts the dollar? [1]http://www.businessinsider.com/congressional-budget-makes-room-for-big-bank-bailouts-2014-12 http://www.businessinsider.com/congressional-budget-makes-ro...
- hx87 10y ago
  By "sandbox" I meant that the central banks dealt directly only with major banks, who benefit and profit from being at the top of the money-creation chain.
  - wu-ikkyu 10y ago
    That's what I thought, I was using it as scope of influence as well