Fiat Money and Collective Corruption

This article by Thorsten Polleit explains how Bernanke can get away with his monetary policy and the likely outcomes of that policy. Well worth reading.

In this article it will be argued that collective corruption—which is the logical result of government interventionism in the field of money production—can explain why public opinion accepts adherence to an economically and socially destructive monetary policy. Collective corruption can also explain why returning to sound money faces such high, perhaps insurmountable, hurdles once fiat money has been put into place.

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