> I am personally of the opinion that the central bank is irrelevant
The economic history of the US (which was one of the last industrial power to addopt a central bank) is against you on this one, especially the period between ACW and the creation of the Fed in 1913.
The purpose of central bank isn't to set up price control on money (which it doesn't, btw) it's to make sure that commercial bank don't have liquidity issues.
The economic history of the US (which was one of the last industrial power to addopt a central bank) is against you on this one, especially the period between ACW and the creation of the Fed in 1913.
The purpose of central bank isn't to set up price control on money (which it doesn't, btw) it's to make sure that commercial bank don't have liquidity issues.