Why Central Bankers Think They’re Doing Good for the Economy

“Observe, however, that wealth comes not from money, but from goods that have been produced. The chief role of money is as a medium of exchange. Hence, the demand for goods is constrained by the production of goods and not by the amount of money as such. (The role of money is to facilitate the exchange of goods).”


Listen to how, beginning in 1946, the Federal Reserve and the federal government began fostering debt from individuals, families, corporations and the government–with consumption seen as good and saving as bad:

Inflation: Its Cultural and Political Consequences—Tom Woods Show

One comment

Comments are closed.