Rogueish

Why oh why oh why do money reformers combine perfectly sensible criticisms of the unaccountability of the Fed with anti-semitic conspiracy-theory nutjobbery? That most of the money supply comes from credit extended by banks isn’t some dark secret; it’s a perfectly well-known feature of capitalism. It’s also something that is unavoidable within capitalism; though democratic control over central banks would be a good reformist move, it doesn’t fundamentally alter the commodity character of money.