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The Central Banker Who Defied Hitler
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The Central Banker Who Defied Hitler
During the Q&A period after a lecture on monetary history, a student asked me, “Mr. Reed, do you think a central bank should be independent or should it be directly controlled by elected officials?” To me, this was a choice between the devil and the deep blue sea. Which should I pick, Scylla or Charybdis? By whom would I rather be mugged — Scarface or Machine Gun Kelly? Given the awful track record of central banks, and the appealing alternative…
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