The Satoshi Revolution – Chapter 3: Civil Liberties and Central Banks (Part 3)
Satoshi Revolution: A Revolution of Growing Expectations
Section 1: Trustee third party problem
Chapter 3: Trying to cancel Satoshi
By Wendy McLoyey
Bad News: Civil Liberties and Central Bank (Chapter 3, Part 3)
If you know the enemy and know each other, then you do not have to fear because of a hundred wars. If you know each other but not the enemy, then for every victory you will have to suffer a loss. If you are neither the enemy nor the knower, then you will bow in every battle.
- Suraj Tsu, art of war
Governments make their own cryptocytes through the central banking system, to understand the future consequences of free-market cryptocurrency, there is a need to understand the relationship between governments and central banks.
A central bank is a clearing house for the national currency; It is an arbitrator for the financial policies of a nation. He enjoys monopoly control over the country's money and debt production and distribution. Generally, he also monitors the monetary policy through the system, such as determining interest rates, and the member protects the banks.
Even when a central bank is theoretically independent, as the U.S. Federal Reserve system claims, it relies solely on the government for legal privileges, which empower and define it. Nevertheless, people insist that both institutions are independent, this illusion works with the aim of harming the average person of the government and the banks.
The case against the Fed is the assassination of Rothbard Murray on the Federal Reserve, he points out that there is a good relationship with "policy independent", yet there are two problems with the claim. First of all, it is the cleanliness of hands Second, the undisputed autonomy of the Fed is actually There is an official defense that does not preserve monetary integrity but is a threat to it.
To focus on the second point: the Fed is running very well with independence. According to Rothbard, autonomy is desirable for "private or market" activities which will be beyond "control of government" and "policy free" in this sense. However, it is quite different to say that "the government should be" independent of politics. "The private sector is accountable for customers, competition, shareholders and other market forces.
A government agency is generally responsible for the public opinion and the Congress, but an autonomous government agency loses responsibility and work as a thug
If the government becomes "policy independent", then it can mean that this sector of government becomes a full and self-sufficient minority, which is not accountable to anyone and never Do not throw or "throw anybody or group if it is a shareholder or voter, can move a ruling elite,
Such aristocrats, however, are more apt to dictatorship than to a democratic country, and yet eager to see how many self-proclaimed champions of "democracy", whether national or global, the total of the Federal Reserve Early to defend the estimated ideal of freedom.
The government protects the fortress within it because the Fed takes advantage of the political structure on bipartisan basis.
Central Banking System is a vehicle for monetary control and financing for any person of power is particularly important, according to an article of the Financial Times on August 15, 2017, "The major central bank is now the fifth of the total debt of its governments Are the part. " Six major central banks "which are running on quantitative easing in the last decade
According to the FT analysis of the US Federal Reserve, European Central Bank, Bank of Japan and the Bank of England, as well as the Central Bank of Switzerland and Sweden - According to the FT analysis of the International Monetary Fund and the central bank, assets are more than $ 15 billion; - Four times more than the composite level. "This is a startling amount
[Note: Quantitative easing occurs when a central bank purchases securities, usually government securities, to reduce interest rates and increase currency supply. It artificially feeds the economy by reducing the cost of borrowing for households and businesses.]
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