printWhether through serving as a reserve for essentially fraudulent banks, or purchasing assets, usually government securities, on the free market, the central, cartelized Federal Reserve Bank is involved in increasing the money supply. For this reason, when a central banker “cuts money supply growth to single digit levels” she deserves some praise. Duly, Robert Wenzel has awarded a central banker of the year award to Russian central bank chair Elvira Nabiullina. Writes Robert:
Despite being under incredible pressure as the Russian ruble collapses on foreign exchange markets, she is staying calm and collected and is not calling for any kind of government interventions that would only make things worse. She seems to get that markets will resolve things themselves. … Contrast this coolness with the panic in the eyes of Fed chairman Ben Bernanke and Treasury Secretary Hank Paulson during the 2008 financial crisis, when they caused the US government to intervene one hundred different ways and bail out the banksters.
I suspect that it doesn’t hurt that Elvira is … cute.