The Federal Reserve - Who Needs It? How Panama Has Thrived Without A Central Bank - Robin Good
"The Federal Reserve is America's Central Bank, owned by an unnamed corporate cartel, given a license to print money, and holding significant sway over the national government and economy. If it were dissolved tomorrow, the average tax-payer would doubtless be a lot better off. But we couldn't do that, could we?"
The Republic of Panama has managed just fine without a Central Bank for over a hundred years, and in actual fact, if you compare the rate of inflation between Panama and the USA over the last twenty years, Panama comes out a lot better off every step of the way.
Without the ability to conjure money out of thin air, to suit the needs of private investors, Panama has instead relied on a 100% market-driven money supply. Money is directly tied to the production of real, tangible products and services.
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1 comment:
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