imagine what those same citizens would say if government officials cut expenses to balance their budgets and asked them to do the same, making lots of them go broke, and/or if they sought to redistribute wealth from those who have more to those who have less by raising taxes. The money and credit producing path is much more acceptable politically than either of those options. It’s as if you changed the rules of Monopoly to allow the banker to make more money and redistribute it whenever too many players are going broke and getting angry.
It is become clearer to me the role of central banks in preventing civil wars.
