STAFF NEWS & ANALYSIS

Faced With Central Bank Dysfunction, Media Focuses on Individuals, Not the System

By Daily Bell Staff – July 05, 2016

Raghuram Rajan: Why RBI needed more of him …  Finally, Prime Minister Narendra Modi spoke up to give outgoing RBI governor Raghuram Rajan a thumbs up. The endorsement that came a wee bit too late was welcome nevertheless …  – India.com

With economies worldwide in a mess, the mainstream media is increasingly concentrating on individual central bankers.

This is propaganda, of course.

Instead of having to deal with the failure of central banking as a system, the media can direct attention to individual central bankers and ask whether they are “up to the task.”

In fact, central banking is price fixing – of money. Price-fixing never works and eventual results in catastrophic failures.

By focusing on the individual in charge of a