Viewing a single comment thread. View all comments

themagicbong t1_iw5jz6k wrote

Yes, when they understood that central banks are responsible for sudden, huge swings in the market, and exist basically as a way to manipulate markets/prop up entire industries. Often this gives false signals and can lead to many things, such as ramping up in production to meet the new (fake) demand. Its not like you couldn't have protections for people without having an overarching central bank, separate from the govt, with total control over the monetary policy of the nation. Not to mention how easy it is for central banks to essentially redistribute wealth to themselves, while taking from everyone at the same time, in order to do said propping up I mentioned earlier, usually for political reasons.

11