{"id":375968,"date":"2018-09-03T20:13:40","date_gmt":"2018-09-03T19:13:40","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/central-banks-enrich-a-select-few\/"},"modified":"2018-09-03T20:13:40","modified_gmt":"2018-09-03T19:13:40","slug":"central-banks-enrich-a-select-few","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/central-banks-enrich-a-select-few\/","title":{"rendered":"Central Banks Enrich a Select Few"},"content":{"rendered":"<div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t                            \t<!-- S3 Cache --><!-- S3:S3:Non-Original -->\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>The message unanimously churned out by politicians, central bankers, and \u2018mainstream\u2019 economists is that central banks are there for the \u2018greater good\u2019. They provide the economy with sufficient money and credit, and they fight inflation, thereby supporting output and employment growth. What is more, central banks, are supposedly in a position to effectively fend off or at least mitigate financial and economic crises. However, unfortunately, nothing could be further from the truth.<\/p>\n<p>Throughout history, central banks have been created, first and foremost, to fill governments\u2019 coffers. To increase the king\u2019s or elected government\u2019s financial means through an\u00a0<em>inflationary scheme<\/em>\u00a0\u2013 usually too elaborate and too treacherous for most people to see through. Central banks are instrumental for putting the ruler \u2014 or the ruling class \u2014 into a position where they can plunder the people on a grand scale and, by way of redistributing the loot, making a growing number of people financially and socially dependent on it.<\/p>\n<p>To that end, central banks have been assigned the monopoly of money production. This has made it possible to replace commodities, or\u00a0<em>\u201cnatural<\/em>\u00a0money\u201d with unbacked paper or\u00a0<em>fiat<\/em>\u00a0money. Central banks provide commercial banks with\u00a0<em>fiat central bank money<\/em>, and commercial banks are free to pyramid a multiple of\u00a0<em>fiat commercial bank money<\/em>\u00a0on top of it. This is what monetary experts typically call a \u201cfractional reserve banking system,\u201d which is a genuinely inflationary scheme.<\/p>\n<p>Murray N. Rothbard even speaks of a\u00a0<em>cartel<\/em>\u00a0between the central bank and commercial banks. In practice, the central bank acts as a\u00a0<em>cartelizing agent<\/em>: \u201cto cartelize the private commercial banks, and to help them inflate money&#8230;<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.lewrockwell.com\/2018\/09\/thorsten-polleit\/central-banks-enrich-a-select-few-at-the-expense-of-many\/\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The message unanimously churned out by politicians, central bankers, and \u2018mainstream\u2019 economists is that central banks are there for the \u2018greater good\u2019. They provide the economy with sufficient money and credit, and they fight inflation, thereby supporting output and employment growth. What is more, central banks, are supposedly in a position to effectively fend off [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-375968","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/375968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=375968"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/375968\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=375968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=375968"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=375968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}