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Cheap credit is the heroin of democracies amen, it will be only too late that people realize that those who print the currency run the show, and thats the Fed.
by quasimojo 18y ago
Cheap credit is the heroin of democracies
amen, it will be only too late that people realize that those who print the currency run the show, and thats the Fed...who by the way are not accountable to voters in any meaningful way
- bokonist 18y agoActually the problem might be that the Fed is too accountable to the voters. Remember, Volcker was fired by Reagan. And Greenspan is a goldbug at heart who had a lot of political pressure to keep the heroin flowing. Voters do not understand economics, but they do like cheap credit. Democracy breeds short term thinking. Read some Herman Hoppe - http://www.lewrockwell.com/hoppe/hoppe4.html http://www.lewrockwell.com/hoppe/hoppe4.html