Amid all of the social upheaval and dislocation knocking on our door, wherever we find ourselves in the world, some of the more ominous specters are lurking. It’s unfortunate that the fellows who raised this banner haven’t familiarized themselves with Austrian theories of money and credit. Otherwise, perhaps they’d understand that at the center of the economic upheaval underway is the nearly global implementation of the fifth of ten planks of the Communist Manifesto.
Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
- Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.