By Charles Hugh Smith, 19th October, 2022
Episode 45
Are Central Banks The Problem?
The entire notion that central bank policy makes or breaks the economy is the original Policy Error No. 1.
That is to say, whatever policy a central bank pursues is a policy error because every policy is an attempt to manipulate the self-organizing cycle of credit, economic expansion and contraction.
Recap & Takeaways
Central banks act to protect the wealth of those who control most of the wealth
They purposefully call debt expansion, “Growth”
Borrowing More And More Was Never Sustainable
The State is the protector of the wealthy
The Party’s Over. Time To Clean Up The Mess.
Mindless Over-Consumption Will Never Eliminate Debt
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