The Humble Libertarian

Building a small army to take over the world and... leave everybody alone.


Thursday, June 21, 2012

The Death of Banks and the Future of Money

Banks are something between dinosaurs and vampires.
One thing is now clear to even the most casual observer: banks are not capitalist businesses. In their present incarnation they have little to do with the free market and no place in it. They are constantly oscillating between two positions: One moment, they are a state protectorate, in desperate need of support from the state printing press or unlimited taxpayer funds, as, in the absence of such support, we are supposedly faced with the dreaded social fallout of complete financial collapse. The next moment they are a convenient tool for state policy, simply to be fed with ample bank reserves and enticed with low interest rates to create yet more cheap credit and help manufacture some artificial growth spurt. Either the banks are the permanent welfare queens of the fiat money systems, or convenient policy levers for the macro-economic central planners. In any case, this is certainly not how a capitalist business should look.
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Whiskey and Gunpowder 

Judy Morris,
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