Central Bank

If you see a plan to reform the financial system that includes a central bank, know that this is not a liberal reform. An unconditional liquidation of the central bank is a necessary condition for any changes. This is because a central bank is only possible in a fractional reserve system; with full reserve it has no functions at all. As Argentina shows, a central bank can also nullify the activities of a currency committee or attempts to move to a gold standard. In Ukraine, given its weak economy and corruption, the central bank is a financial-political instrument of the ruling “elites”; its very existence perpetuates our “politicum” and its methods.