Without a monopolist central bank, market forces would restrain the issuance of bank notes. But once central banks monopolize money creation, wealth is systematically transferred to the central bank and the privileged few who are favored by the state.
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.
Original Article: “How Central Banks Destroy Money’s Purchasing Power“.
Full story here Are you the author?Fabrizio Ferrari is a graduate student in economics.
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