“Independent accountability’ assumed that the ECB's tasks are fundamentally technical in nature and clearly and narrowly defined, leaving it with little discretion. In that logic, it is primarily the ECB's clear and narrow Treaty mandate that ensures its democratic legitimacy, justifying that accountability arrangements were kept Tim Bouma Mar 14, 2024, 4:11 PM
“So the question is, what will bind us to reality? If the internet has changed how we talk to each other, how we process events, then if anything, it’s made real truth harder to discern. The higher purpose of propaganda, of misinformation, of disinformation, isn’t just to create… Tim Bouma Mar 14, 2024, 11:12 AM
“Suspensions that occurred due to government intervention were always followed by monetary expansion and inflation. The claim that competition among unregulated banks would lead to an explosive money supply and rapid inflation has no support in the historical record and, indeed, inverts the truth that rapid inflations are always associated… Tim Bouma Mar 14, 2024, 1:32 AM
“The bankers were a decidedly unphilosophical group: during hearings about the 1923 revisions of the Bank Act and the Finance Act, the general manager of the Canadian Bank of Commerce and vice-president of the Canadian Bankers’ Association testified that he had never heard of the quantity theory of money, Tim Bouma Mar 14, 2024, 1:24 AM
“To finance war expenditures, the government relied in part on inflation.”… Tim Bouma Mar 14, 2024, 1:22 AM
canadaww1 “Inconvertible forced-tender government notes replaced gold as the basis of the monetary system.” #CanadaWW1… Tim Bouma Mar 14, 2024, 1:18 AM
