Paul-led panel considers Fed abolishment bill

[Random.Capital]

Quote from TorsionField:


let me point out the difference, if your central bank is a private central bank that prints currency at interest, that nation is broke.

The US reached the height of its economic prowess - a height never achieved by any other nation, anywhere, with a middle class of unimaginable size - under the watchful eye of the Fed.

That is a definition of "broke" that most countries would kill for.

 

[Covertibility]

A medicine for a very rare disease is a type of monopoly that could last a long time.

Quick example of very expensive medicines that don't appear to have any competition:
The World's Most Expensive Drugs

Competitors may or may not be able to produce an alternative due to the sheer complications of the disease or the costs in undertaking the task.

 

[trefoil]

Quote from Random.Capital:

Just read Adam Smith - he nailed most of them, a long time ago, in "Wealth of Nations".

Very true.