Central Banking’s New Club Class
Six of the world's major central banks recently announced that they had made their swap lines permanent, giving one another unlimited access to their respective currencies. But, even if these central banks have the legal authority to establish a policy for the privileged few, it is neither fair nor right that they have used it.
https://prosyn.org/KhKTySb
NEW YORK – In the wake of the 2007-2008 financial crisis, the world’s central banks played a critical role in rescuing the global financial system. They stepped in when private markets froze, acting as lenders and dealers of last resort, and provided additional liquidity to grease the wheels of finance.