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Most nations do not have control over their own currencies. Instead privately owned, for-profit central banks – such as the Federal Reserve System in the US – create money out of nothing and then loan it at interest to their respective governments.
Not only do the central banks have the power to create money for free, they also have the power to set interest rates, to decide how much credit is issued, and to decide how much money is put into circulation.
With this power, central banks can – and do – orchestrate boom and bust cycles, enabling the super-wealthy owners of the banks to profit from investments during the booms, and buy up assets at bargain prices during the busts.