central bank

A Quote by Gary North on banking, cartel, central bank, and money

The goal of the FED, as with all central banks, is three-fold: (1) to protect the largest commercial banks from their depositors, who occasionally exercise their contractual right to withdraw currency (the ungrateful cads); (2) to control entry of newcomers into the bankers' cartel (interlopers); (3) to keep the stock market from collapsing in a panic, thereby persuading depositors to withdraw currency

Gary North

Source: http://www.lewrockwell.com/north/north617.html

Contributed by: peter

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