We’ve seen this before: A bank becomes insolvent, whether by ignorance or error. The Fed saves the financial system by giving the same failed bank more money; this is socialism, it is not capitalism.
Any system which works great until it collapses, then requires a government/central bank bailout is neither sensical nor sustainable. Anyone holding a position in academia should not support this; but many do because it works so well for those on top. So here we are.
~ Robert Aro, "
More Supervision and Regulation to Prevent Bank Runs?,"
Mises.org, March 24, 2023
No comments:
Post a Comment