What Will Trump Do About the Central-Bank Cartel?

(From The Mises Institute)

How will President Donald J. Trump and his administration deal with the cartelization in central banking? Mr. Trump doesn’t seem to be an “internationalist,” seeking to build a new world order by political and military means. If that is so, he will sooner or later have to come to grips with the Fed’s policies — most notably with its liquidity swap agreements.

The Fed’s policy has made the world’s financial system addicted to ever greater amounts of US dollars, easily accessible and provided at fairly low interest rates. From this the US banks benefit greatly, while average Americans bear the brunt: they pay the price in terms of, for instance, boom and bust and an erosion of the purchasing power of the US dollar.

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