Indeed, the bankers themselves sought the alliance for they found it impossible to erect voluntary cartels on the market. It would take the violence of the State to achieve that. The State, too, has an interested in controlling the money, as to expand their ability to illicitly appropriate goods, and so they're fine allowing the banking industry to share in the loot, too.
RE: Review of: Making Economic Sense, Murray Rothbard (Chapter 2)
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Review of: Making Economic Sense, Murray Rothbard (Chapter 2)
I believe that it is the bankers who let the State participate in the booty and not the reverse. Most politicians end up needing money to govern, and so they end up borrowing, and belonging to their masters, the bankers. The financial system is rotten, and is the cause of the biggest modern economic problems, more than the intervention of the state in the economy and more than anything else. Eliminating the fractional reserve system, like the way in which fiat money is created, is the big problem we must face.
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