Money and Socialism

10/09/2014 Matthew McCaffrey

How is socialism related to money? Money should be produced just like other goods through free markets. Central banks should not be controlling money, banking and credit. But, there is currently no competition in money production. This is socialized money production. Because money is part of every exchange, to socialize it puts way too much power in the hands of the Federal Reserve and Central Banks. Central Banks are not concerned with the interests of consumers.

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