Myth: Central Banks Create Jobs

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The myth that central banks can create jobs will take a hit if the Sound Dollar Act, proposed by Kevin Brady, passes the U.S. Congress. The act will remove the mandate that Federal Reserve boost employment. In reality, a central bank only creates dollars that take value from other dollars; for every job created with those dollars, another is lost. Plus these new dollars often fuel bubbles that end with massive unemployment. See essay by Dave Doctor of Monetary Choice posted on GoldStandardNow.org.

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