Thursday, April 26, 2007

Panama Has No Central Bank

Presidential candidate Ron Paul has called for the abolition of the Federal Reserve system. His critics have said that without a "central bank" the US economy would fall into chaos. Here is a real world example of a country that has no central bank, no fiat money system and no "lender of last resort." The result: low inflation and a stable economy.



read more | digg story

No comments:

12-22-2024

U.S. Navy Shoots Down Own Plane... As Fresh Strikes Target Houthi Rebels in Yemen... Pilots eject safely over Red Sea... REPUBLICANS DEFY MA...