Hello
It seems to me essential to show a wide audience the huge challenge posed by the re-appropriation by the state's sovereign power to create (and destroy) the currency.
The power to "coin money" which was originally a feudal law called "seignorage" was surreptitiously privatized during the construction of Europe. More precisely, Germany, which had good reasons to fear the risks of hyperinflation related to the "printing money," demanded that the statutes of the ECB are identical to those of the Bundesbank.
They had been established just after the defeat of the Nazi regime (which had made extensive use of a mechanism "semi public" money creation allowing it to circumvent the conditions of the Versailles Treaty) This historical impact which has through the European construction has linked the statutes of the ECB ... the rejection of Nazism was a real windfall for private banks, as governments are forced to seek to fund the deficits public! (Banks can thereby collect a "fee" on a portion of state expenditures).
But just because a tool is dangerous that we must renounce its use; explosives are handled with care, but they can help pave the road! It is the same for "monetary creation tool" to put at the service of public policy, for example, reduce pollution and emissions of greenhouse gas emissions: there is no reason for such expenses if ever they are determined ... become a source of income for banks ie an extra cost from inflating these costs absolutely vital! A
suiivrreee!
RZ
0 comments:
Post a Comment