Thursday, October 9, 2008

Mark Thornton Answers a Journalists Questions

1) In which way do the central banks contribute to the problems we see now?

The central bank created the problem in the first place...

2) Can or should the government or central banks do anything to prevent a collapse of the banking system, at this point? Why not?

No...

3) What will be the consequences of the continued attempts by the authorities to prevent more bank failures and the seizing up of the credit markets?

Bailout policies are what turn normal recessions into depressions...

4) Is a world without central banks possible or desirable? Please explain.

Central banks are unnecessary and harmful...


source and more detailed answers

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