Neither the warfare or the welfare state is possible without a central bank. From George Ford Smith at mises.org:
A central bank is not a natural product of banking development. It is imposed from the outside or comes into being as a result of government favors.
—Vera Smith, The Rationale of Central Banking and the Free Banking Alternative
Anarchy, the absence of coercive government, must not be confused with chaos.
—Robert P. Murphy, Chaos Theory
The Federal Reserve is dying from monetary mischief. The Fed recently made a woke mandate that will only accelerate its own demise. The Fed never should have existed. As a central bank, the Fed is a rogue institution that functions as a giant counterfeiter for hegemonic government and special interests.
Government signed off on the Fed long ago and soon found it indispensable for funding whatever politicians could dream up. Together they have destroyed the Declaration’s philosophy of individual rights and replaced it with a system far worse than the one from which the Founders seceded. The Fed is killing itself through its inherent flaws—especially the premise that increasing the money supply is necessary for prosperity. The very existence of the Fed distorts economic forecasting, creating the disastrous business cycle that it was supposed to make mathematically impossible.
Yet, one could argue that the Fed and central banks in general are critical for engaging in war. A case in point is Word War I, when all the belligerents abandoned the gold standard and proceeded to slaughter one another on credit. The war machines were fed a constant supply of monetary promises that would not have been possible if citizens, and not their government, had sovereignty over money.
The term, “follow the money,” is probably the most telling of investigatory technique’s one might practice. It represents the recognition that those who desire to obtain the unearned – the endless attempts to get “something for nothing,” can ALWAYS be counted on to “seek” the money prior to it subsequently being “followed.”
In many instances I have posted about the “nuptials” entered into in 1913 between politicians and bankers. No need to rehash the “vows.” I wish only to further point out that when you devise a means whereby you can create money in wish no effort is required, you can pay people with it who exert no effort!
Replace the word “effort” with “value” and you can clearly see the consequences……….