US Central Banks

It still surprises people when I mention that the US had 2 central banks prior to the Fed. Those 2 central banks were shut down. At the rate that this current Fed is going, they will disappear in the foreseeable future too. It is unimaginable to most right now. But at the rate it's going, it will disappear.

One thing analysts really need to learn is that there're always unintended consequences to every action that the central bank takes. These people subconsciously thought that this time, it's different. It's as if this is some kind of new age economy. They never study history. And if they do, they studied the wrong history.

History repeats. Or if it doesn't repeat exactly, it rhymes.