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For me, two things, neither of which is a conspiracy theory: 1. It's communism, for money. We live in a society in which prices for nearly everything: food, ho
by caeril 4y ago
For me, two things, neither of which is a conspiracy theory:
1. It's communism, for money. We live in a society in which prices for nearly everything: food, housing, laptops, etc, are all set my supply/demand equilibrium. The market finds a clearing price, and we pay it. We accept it, and we use a bit of regulation to handle edge cases in which market forces cause externalities and distortions. It works. But for some reason, we've decided that the price of money itself should be decided by a small Politburo. Why?
2. They're always wrong. Not only does the Politburo set the price of money independent of market forces, but they are incompetent. Dot plots one year off are consistently, and embarrassingly, wrong. Comments about "froth" during an obvious housing market collapse, or "transitory" to describe persistent, and growing inflation. These are 140 IQ people who have access to the best, and most timely economic data on the planet, but they are still dumber than the 94 IQ purchasing manager of a small feed supply company who knows within 5 seconds of glancing at corn harvest and transportation KPIs that there won't be anything even remotely "transitory" about inflation.
It's bad enough having a Politburo dictate prices to us, but it's a whole other matter when the mantle adopted by these tinpot Philosopher Kings turns out to be nothing more than gross, and consistent, incompetence.
My primary objection to central banking is that their existence is an affront to freedom, and that they are catastrophically bad at their jobs.
You don't need New World Order conspiracies hatched in the woods wearing gargoyle masks and conducting Satanic rituals to know that this is a terrible idea.