Tuesday, June 9, 2009

Why Not Monetary Freedom?

FEE published "Why Not Monetary Freedom?" by President Richard Ebeling shortly after Bernancke was appointed as the next Chairman of the Federal Reserve Board in December 2005. Ebeling states:
"In a world that claims to have rejected socialism, central banks remain one of the most powerful socialist institutions around the world—because make no mistake about it, central banking is monetary central planning."

"The best monetary policy would be no monetary policy at all. The advocate of the free market, therefore, calls for the abolition of the Federal Reserve and the operation of a market-based system of private and competitive free banking."

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