Money is too important to be left to central bankers

Discussion in 'Economics' started by Rickard, Feb 15, 2016.

  1. Rickard

    Rickard Beta Testers

    An interview with Rose and Milton Friedman.

    “Money is too important to be left to central bankers,” Mr. Friedman says. “You essentially have a group of unelected people who have enormous power to affect the economy one way or another.”

    “I’ve always been in favor of replacing the Fed with a computer.”
    Leon and Anima like this.
  2. Anima

    Anima Founders Staff Member

    Good find! - i LOVE this passage

    "“There’s no reason the Fed couldn’t do this, but it obviously is not going to,” Mr. Friedman continues. “They’re going to believe they can do better.”"

    The weakest link in the chain has and will always be humans. Just as 92% of all vehicle accidents are due to human errors, the economy is in the gutter/sky due to human errors.
  3. Fuserleer

    Fuserleer Radix Founder Staff Member

    Yup, I've been saying this for coming up to 3 years now :)
  4. timau

    timau New Member

    Good dig. I don't know that much about economics but it was an interesting read. I alsothink bankers are a big ponzi scheme that are too big to fail, yet it will happen. They essentially borrow your money from your investment fund and gamble it this is fractional reserve.
  5. BitButllet

    BitButllet New Member

    Yep! you are right!

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