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Source link: http://archive.mises.org/11328/more-coverage-of-the-austrian-view/

More Coverage of the Austrian View

December 27, 2009 by

This time it is Robert Klein and George Reisman writing in Barron‘s:

How many more crises must we endure until we realize the common denominator is the creation of money and credit by the Fed? Wall Street bankers and speculators, who try to game the system and make profits during each boom, are mere bit players in these crises. By fostering the booms and triggering the busts, the real villain is the institution of central banking itself. Thus, instead of providing stability to the economy, central banking has created great instability. Until this is understood, we will make little progress in preventing future crises or easing the current one.

{ 3 comments }

newson December 27, 2009 at 7:13 am

when the sage points to the moon, the fool looks at the finger.

Deefburger December 27, 2009 at 2:50 pm

When the sage points out the dead bird, the fool invariably looks up and says “Where?”.

Bruce Koerber December 27, 2009 at 4:14 pm

The Majority Of Us Want To Stop The Counterfeiters!

As is evidenced by the shocking payoffs witnessed during the TARP scheme there is hardly even a remnant left in monetary policy that has anything to do with trying to ‘stabilize’ the economy. Despite the fact that these ego-driven interventionists have a flawed understanding of economics, and despite the fact that meddling is wholly destructive, the schemes passed off as monetary policy have the sole intention of channeling counterfeit money to the overlords and their minions.

So ego-driven is this perspective that those at the helm feel certain that what is in their best interests is in the best interest of the country! How far has their ego driven them into the cave of hell! Such is the bizarre perversion of the inner circle of the unConstitutional coup. Their ego has driven them mad!

It is from that delusional perspective that monetary policy originates in the United States contemporarily.

“How many more crises must we endure until we realize the common denominator is the creation of money and credit by the Fed?” The unConstitutional coup and its minions are the minority ruling the majority through acts of economic terrorism. As soon as the majority recognizes the source of the ever-growing stench, the minority will then have to flee from the wrath of their avengers.

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