reply on: Central banks need escape route from cycle of boom and bust \ stacker news ~econ

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51 sats \ 0 replies \ @Rothbardian_fanatic 2 Nov \ parent \ on: Central banks need escape route from cycle of boom and bust econ

The only way they had credibility was with FDIC. Get rid of the FDIC and the banks will have to behave themselves or go bankrupt. They won’t, theoretically, lend much more than they have taken in as deposits. They won’t be backed by the Fed, they won’t be naked short on commodities. That would cure many, many problems.