Message from @Diadochi
Discord ID: 531947423891849247
No central Jew bank
Kill em all 1939
You all are assuming too much.The government controlling the bank doesn't imply anything about how it will be ran. How are you gathering it'd be anymore rational? Are you implying central banks aren't already rational? Inflation is necessary to the economy, sometimes it needs to be less, sometimes it needs to be more. Inflation has been more-or-less reasonable across the West for decades and decades. All of our economies are stable. The US has been doing the best and the Fed is private. Am I saying privately controlled is better? No, but it just shows it doesn't mean too much -- at least the way the question is framed.
Some people like to point to US inflation, but the US dollar has been the strongest currency for over half a century, even if it's not the highest valued.
There are plenty of instances where the government irreparably screws up the economy.
Abolish the FED
it shouldn’t exist
Interest rates should be controlled by the free market
and the FED has caused almost every recession
@Diadochi wrong, inflation does NO good to an economy
Inflation is taxation without legislation
yes i agree
Imagine thinking 330,000,000 US citizens should be squandering over the same amount of money 2,500,000 used when the US started
Imagine not understanding expansionary monetary policy
yes that’s fine
And expansionary policies cause recessions
we’ve seen this throughout history
Inflation is no good for an economy
Keynesian lies once again
You know there is a reason that double digit inflation hasn't been a thing in a long, long time, right? Because economists realized Friedman was right. So, I agree to an extent. But I still think an economy should be somewhat managed
yes Friedman was wrong on monetary policy
I already assumed you thought so
Double digit inflation is rare yes
Used to be a norm
And in those days imagine how high the taxes were
not imagine but look behind
at time
@Diadochi I don’t know why they don’t recognise the pro free market Friedman
I think the FED however should be abolished
Not only did they cause the ‘29 and ‘08 recessions
They caused almost every one between them
Their cheap credit policies which turn into contractionary policies
So, which recessions did they __not__ cause?
hmm not sure
Probably little ones between
Is it possible for an economy to grow *too* fast if it's completely free market?
Nope
@Muhammad Al-Tajir This TBH
Still I think the question isnt framed so much to deal with economy and economic policy and how it wil be run as far as the idea of the central bank as an idea in and of itself
For me having one that is private is a horrible liability, and it puts control of potentially the entire economy into the hands of someone who can abuse it, manipulate it, etc.