Gerald O’Driscoll has a fine piece on the failed promise of central banking.
O'Driscoll on Central Banking
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{ 3 comments }
Central Bank is another bureaucratic dead weight. Good article.
The Federal Reserve is the poster boy for privatization. I fail to see why so many libertarians think of privatization as a good thing. A centrally mandated currency (and ban against competing currencies) is wrong, whether it's the government doing to printing or a cartel of "private" banks. Central banking is a function that needs to be abolished, not privatized. Even when privatization returns to the private sector what should have been private to begin with, it usually does so by mandating a monopoly.
David Johnson,
Considering what the real libertarian arguments against Fed and centralized banking, you comment makes absolutely non sense whatsoever.