They only left it like that so the germans could have their money, wake up lad. If they lowered it and we had proper banking regulations then living costs go down, people have more money and spend more money hence tax income is greater and recovery is quicker(presuming recession or near-recession see deflation.

However when you’ve growth keeping prices as they are is a must in order to reek in as much profit as possible and save it for the days when you need to do what I mentioned above.

This is for the germans, nobody else.

Oh yes forgot about the bashing they were suppose to give them bit like the interest rate reduction we got on bail out money.
We may have got it but it was not applied yet.

That article was written before the crisis in 2008. It’s main point is fighting for deregulation and many would argue it was this that got us the economic mess we now have. Central banks have a crucial role in regulating banking behaviour, otherwise like the “golden age” of banking that occurred in the US it will all end in a collapse.

The article points out how Scotland had a more stable banking system witout a central bank than England had with a central bank. Also, in Scotland it was other banks rather than taxpayers that picked up the pieces when a bank got into trouble.
Sweden likewise experienced a more stable era (1830-1903) without a central bank.
The US experienced the Wall St crash 16 years after the Fed was founded and following a credit boom. Is now on the verge of another. The Fed was founded because of pressure from commercial bankers not in spite of. Google ‘ Jekyll Island’.

http://www.strike-the-root.com/4/smith/smith5.html

Bravo! Finally I found a person in this country that is starting to think in the right direction. Fu*k the nanny state and fu*k the central bank – the cause of all booms and busts. Goddamn Keynesian fu*ktards