A question to readers…

I would like your input and comments and the input and comment of anyone you care to forward this post to.

The question is:

1) What is the role of a central bank?

2) Give reasons as to why the role of the central bank could not be carried out by any of the already existing civic institutions.

I will have follow up questions depending on what answers we get

 

 

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3 Responses to “A question to readers…”

  1. josephbc69 Says:

    Hello, Patrick Donnelly!

    Your response above is so very good, to the point, and lucid that I really cannot add anything. Kudos to ya!

    As for the queries re Central Banks, their role, and how we regard them, I’d like to suggest that serious students of monetary policy read and re-read Stephan Zarlenga’s magisterial “The Lost Science of Money”, 2nd Edition. It is the single best-ever work on monetary systems, currencies, and central banking. The illustrations alone are worth the price! They CAN be useful when controlled by the people they are intended to serve.

    Stephan was once a member of the same financial system that’s plundered all our lives and countries, but he saw the light and came over to our side. He brings a lifetime of knowledge, insight, and superlative thinking on what positive outcomes are available to us, if ‘We, the sheeple’ act to save ourselves, for our ‘masters’ never will.

    I’m an ex-pat from the USSA [not a typo] who left in 1969 at age 26 for Canada; unfortunately, in the last 25 years it’s became Kanada, under the heel of the same neo-kons who subverted the USSA governance. A key part of their strategy was to reduce the role of the Bank of Canada to the same as that of the Fed Res Bunco, a blood-sucking bastard that in truth is neither Federal, nor a Bank, and has no reserves. In fact, all it has is what it steals from ‘We, the sheeple’ who allow this to come about.

    Well, I don’t really want to go on and on, but now we’ve established communication, so let’s carry on and hope that like-minded others read this blog and join us.

    All best,
    Joseph E Fasciani
    Victoria, BC

    • Patrick Donnelly Says:

      Thanks, Joseph!

      The 9/11 business was all part of the final gift to the kleptocrats. Such evil people! They justify it by saying that is based upon eugenics, and God’s work …. Sadly, this will last decades unless we root them all out.

  2. Patrick Donnelly Says:

    I like that you are now confident enough to challenge us!

    The only possible role is to regulate the private sector. Since all banks are permitted by state licence, they need to be reined in somehow, else we would get period credit booms, which might not be good for those who do not understand money…..

    However, why have private banks? Any bank taking deposits should be run by the state, saving on the cost of bailing out banks and perhaps acting as the Central Bank by daily management. All banks are now TBTF so the state actually owns them, but has allowed them to be used and abused by private management. That model should be dead. Lending for housing would be the only permitted business, with personal lending capped at say half annual salary of the least well paid public servant!

    All other lending to be by unregulated and unincorporated, firms, where owners are fully liable for losses. No stock exchange listing, no limitation of liability of anyone who may lend more than say ten times the salary of the prime minister/president of the country.

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