Comment by kragen

Comment by kragen 3 hours ago

0 replies

Probably not. You would be right if we were talking about honest, competent central bankers. But most people live in poor countries. Why are those countries poor?

Every country is different, but poor countries are mostly poor because they are governed by kleptocrats, generally including their central bankers, and hyperinflation in particular is a constant menace. When the central bankers aren't directly kleptocratic themselves, they are very often incompetent but loyal, similar to most of Trump's nominees. In this situation, generally speaking, things that put power over individuals' lives back in the hands of those individuals, instead of the kleptocrats' hands, will improve the situation not just of the individuals but of their whole country.