Belmont Club » Time Bandits: "The Time Bandit problem would not have happened without the alliance of finance with government. Without the money Time Machine government could never have looted the future. The advances of modern finance were the key technological breakthrough that enabled such monstrous and useless organizations like the EU to rise up.
This fact fundamentally illustrates why “giving government more power over the banks” may never work. It doesn’t solve the moral hazard because government is the chief abuser of the magic intertemporal deficit machine. Put them in charge of the Time Machine and nothing may change."
An instant classic. Wretchard strikes again.
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