hoppe2 on Nostr: The enemy of humanity is statism itself. There seems to be a perception that the ...

The enemy of humanity is statism itself. There seems to be a perception that the Federal Reserve is something independent from the government, but the reason the Fed wields such nonsensical power is that the government collects taxes in dollars, and more fundamentally, because citizens perceive the government as a necessary entity.

Criticizing the Fed as 'private banks' can create the misleading impression that if the government operates effectively without being influenced by the Fed, society will function well. This perspective risks diverting attention away from the true enemy: statism. It suggests that the solution lies in better governance rather than addressing the fundamental issues of centralized power and its inherent flaws.

While the Fed is labeled as private, the source of its power comes from the government, and a private bank in the absence of government poses no issues.

The enemy of humanity is statism itself. Without the government, there is no Federal Reserve.