Related to the ugly "too big to fail" idea. No bank is, or was, or should be, too big to fail. This meme is nothing more than a justification for corporate welfare for bankers, and it encourages banks to behave in risky actions.
Anyway, it is a warning against many things: against the Fed, against bailing out/artificially preserving huge banks, and against nationalizing the banks/socialism.
Pretty much every significant economic downturn in American history has been caused at least in part by central banking and damned if it didn't take a European to predict it.
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Related to the ugly "too big to fail" idea. No bank is, or was, or should be, too big to fail. This meme is nothing more than a justification for corporate welfare for bankers, and it encourages banks to behave in risky actions.
Typical big banker.
Anyway, it is a warning against many things: against the Fed, against bailing out/artificially preserving huge banks, and against nationalizing the banks/socialism.
Good stuff... Wise.
Pretty much every significant economic downturn in American history has been caused at least in part by central banking and damned if it didn't take a European to predict it.
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