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News Link • Economy - Economics USA

Central Banking Is Central Planning

• The Daily Bell
 The upshot may be a new monetary system, one way or another.

The new system, probably some sort of gold standard, will not merely inch into position but will be the result of various problematic failures of current monetary policy. It may be driven, in fact, by catastrophic failure. The seeds are being sown even now, and the review in the Journal examines some of them.

What is noteworthy is not the discussion but that it has appeared at all and that it is conducted within a historical context. In fact, this is the point we've been making here in the pages of The Daily Bell and long before, that the timeline is now sufficient to counteract any arguments that might support the institution. One hundred years of damage, economic ruin and institutionalized prevarication is enough. Here's something from the review itself:

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