Posts Tagged ‘money printing’

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Draghi’s war on Europeans

June 18, 2014

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Mario Draghi’s Continuing War on Europeans

(excerpt)

None of Draghi’s measures, which in actuality boil down to money printing via bank credit expansion, will accomplish their stated goals. Such polices, to one degree or another, have been tried before and ultimately lead to hyperinflation, the destruction of the currency and depression. This, however, assumes that central bankers’ primary goal is to “fight deflation,” reduce unemployment or promote growth. It is not.

The principle objective of every central bank is the preservation of the banking system and the governmental authority which privileges it. Unemployment, price inflation, booms and busts are at best secondary concerns for central bankers.

Central bank “self preservation,” however, comes at a tremendous social cost – the impoverishment of everyone outside of the banking-governmental orbit. The creation of a “liquidity channel,” Quantitative Easing, ZIRP, or whatever other term the economic spinmeisters use are attempts to hide the fact that central banks create money out of thin air which ultimately results in the transference of wealth to the banking and governing classes of society. This is how the global ruling elites maintain their power and how, in the United States, a world empire is financed.

While the redistribution of wealth via monetary policy enrich the politically-connected financial elite, there are other baneful consequences. Money printing leads to the depreciation of the currency which manifests itself into a rise in overall prices. Naturally, central bankers and the clueless financial press blame general price increases on other factors – “oil price shocks,” “speculators,” “greedy” businessmen – when, in fact, it is the inflationary actions of the central banks.

By Antonius Aquinas

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