Can any Economist explain to me WHY COUNTRIES CANNOT PRINT THEIR OWN MONEY to use but have to DEPEND on PRIVATE BANKS to do the SAME and lend out at high INTEREST???
Can any Economist explain to me WHY COUNTRIES CANNOT PRINT THEIR OWN MONEY to use but have to DEPEND on PRIVATE BANKS to do the SAME and lend out at high INTEREST???
Obenfo 8 years ago
It is just unfair monopoly that Central Banks have exercised over governments and their vulnerable masses.
On the other hand, fiat currency is just like any ordinary paper printed with special ink, and imposed upon the p ... read full comment
It is just unfair monopoly that Central Banks have exercised over governments and their vulnerable masses.
On the other hand, fiat currency is just like any ordinary paper printed with special ink, and imposed upon the people for acceptance as legal tender, by the sovereign powers that be.
However, politicians being greedy and corrupt as any ordinary people would abuse their power to over-print the currency to devoid the currencies of their "Value, and Reasonable Scarcity" characteristics.
So in a way, it is mere psychological play, and, checks and balances; but it seems the world has cut a rope to tie its own neck. God does print money, it is we the people - so why do we subject ourselves to all these man-made hardships?
It's the consequence of MERE STUPIDITY AND ABUSE OF POWER! That's my answer for you Brother Ezekiel.
Can any Economist explain to me WHY COUNTRIES CANNOT PRINT THEIR OWN MONEY to use but have to DEPEND on PRIVATE BANKS to do the SAME and lend out at high INTEREST???
It is just unfair monopoly that Central Banks have exercised over governments and their vulnerable masses.
On the other hand, fiat currency is just like any ordinary paper printed with special ink, and imposed upon the p ...
read full comment