its pretty impressive how role of private banks in managing the money supply is never examined. When government is creating new money its always wrong, and when

its pretty impressive how role of private banks in managing the money supply is never examined. When government is creating new money its always wrong, and when banks create new money its always okay. Nor is there ever a proposed formula for what the 'correct' money supply should be. The big critics seem to only be able to come up with Gold standard/bitcoin. They do not propose how money supply should expand when GDP grows. They also never talk about relationship between velocity of money and interest rate, and the fact that if velocity of money is low, then the debt of everyone in the economy pile up to infinity, and cause collapse. They do not address the perverse incentives we have to park vast amounts of money unproductively, instead of investment in the real economy.