Discussion
The central bank is a single point of systemic risk, too big to fail.
Capitalism got soft-forked years ago and there's people on the old software saying "why are people calling THAT capitalism, it's obviously cronyism"
And people on the new software are putting communist jpegs on the blockchain.
Since money has been always centralized, true capitalism has never existed.
Disagree with this generalisation. Monopoly is a common outcome.
You’re allowed to disagree.
I don't think you understand what "too-big-to-fail" means or where it comes from then.
Monopoly is also not a common outcome of free markets. To the contrary it is almost exclusively a result of government interference. If you think you have an example to the contrary, you likely aren't looking at it very hard or are simply recalling what we were all forced to remember without any real understanding from our 5th grade history books.
Which is an understandable default, btw. Not a judgement. But it's jsut like believing the free market caused the Great Depression and the govt saved us from it and WW2 finally got us out of it... all are so deeply and obviously wrong given a real investigation into them, but we were all taught the very opposite so that's all most of us "know."
If your system has a central bank, your system is not capitalism.
We haven’t had capitalism in over 100 years
but, but... I read a book once with a dinosaur on the cover and it said...