"Freedom" thread or something

Excellent article.  The function of the central bank is to regulate the financial system of the country.  Most central banks in large countries fail at this.  In India, access to banking channels is unavailable to large parts of the country, i.e., the interiors and also to certain classes of people.   In China, shadow banking is given the tacit blessings of the govt.  Why?  Because this creates a black hole where all these junk notes can submerge and pinning down the proximate cause of the bubble would become extremely difficult.  The usual tactic of central banks is to claim they are understaffed and their budget is too low for such a massive regulatory operation.  At the same time, they resist govt efforts to create another financial regulator (so that the responsibility of the central bank is monetary policy alone).  The reasons are not hard to find.  Big banks in most countries are very profitable and boast powerful balance sheets so it suits them to keep the central bank 'liberal' and 'friendly'.   Note that Raghuram Rajan sounded out central bankers on the risks at least a year and a half before the crash but both Summers and Paulson rode roughshod over his words.  I am still not convinced that say Dubya or Clinton would have wanted to regulate had they really grasped the risks involved to the economy.   It may have been even more insidious and treacherous but we will never know for sure.   

So you're in favor of a massive intelligence infrastructure then.  

Turns out the massive army invasions and warfare in Iraq, and Afghanistan, really were pointless.

Any damage done to terrorist networks has been through global cooperation, disrupting them, gathering info, working together for arrests etc  So that's all, I wish Americans would wake up and see traditional warfare is at the very least, useless now.