>>6799725 (lb)
I don't mean to rain on anybody's parade here, but this mild criticism of central banks is effectively praising with faint damnation (the opposite of damning with faint praise). It's like saying genocide is bad because it's inefficient.
Here's the real problem with central banks: They are simultaneously the financial regulators and the ones entrusted with the power to create money at will.
They can see all of your transactions. You can see none of theirs, unless they choose to reveal them.
They can create as much money as they want in secret and do whatever they like with it and nobody has the right to inspect what they do.
Now I'm sure everybody's thinking, "That's okay with me. Presumably they wouldn't abuse that power. They seem so upright and honest."
Please understand, if there's an entity that can create money at will in secret while you have to sell your labor every day to pay your bills, then you are a slave and that entity has enslaved you.
If, furthermore, that entity regulates all finance, meaning that it sees all transactions and can freeze any funds at any time without giving a reason, then you are completely hopelessly enslaved, tracked and controlled.
The lamented side-effects of central banks - malinvestment and economic cycles - are ludicrously irrelevant in comparison to the fact that these entities have enslaved the entire human race and everybody spends their entire lives working because money is always the limited resource, and this is by design.
The productivity of a human lifetime - your lifetime - has been stolen from you. Instead of building something that you envision that would make the world a better place, you are forced into servitude to earn money.
Another scam of the banking industry - mortgages and housing. You think you're working so that one day, you'll own your home, right?
Well shortly after that, you'll die, the house will be sold to another buyer with a mortgage and the money from the sale will be divided among family members who will spend it on vacations.
So everybody is always working towards home ownership, which takes a lifetime, and despite this universal toil, there is no gradual transfer of real estate from the financial sector (mortgages) to wannabe home owners. Everybody will continue to toil towards paying-off-the-mortgage forever.