Central Banks: Moneylenders, Santa Clauses or Vampires?
7 Pages Posted: 2 Apr 2013
Date Written: March 30, 2013
Abstract
This paper proves that central banks are not moneylenders. They are perhaps Santa Clauses, but in reality they are vampires sucking people's blood. The bigger they grow, the hungrier they are. This paper advocates breaking up of large central bank into smaller ones. The case of the conflict between ECB and the PIGSC countries is used for illustration.
Keywords: Central Banks, Vampires, Slavery
JEL Classification: E41, E58
Suggested Citation: Suggested Citation
Choi, Hak, Central Banks: Moneylenders, Santa Clauses or Vampires? (March 30, 2013). Available at SSRN: https://ssrn.com/abstract=2242286 or http://dx.doi.org/10.2139/ssrn.2242286
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