Central bankers are used to getting their way. They set the tempo of the economy. They can move markets whenever they choose. And they’re the people everyone turns to during a crisis.  They have the power to heal a broken economy, or wreck a healthy one. Cental bankers’ power derives from their control of base money. They’re the only ones who can make it. Commercial banks need base money in order to issue regular money to the rest of us.  By manipulating the supply of base money, central bankers can get more “help wanted” signs in windows, or tamp down…

Want to continue reading?

Introductory offer: Sign up today and pay €200 for an annual membership, a saving of €50.

Subscribe

Cancel at any time.

Are you already a member? .