Almost every country on the globe has an institution that is ought to act as lender of last resort and more importantly as a watchdog over the national currencies value. Central banks control the currencies value by determining the interest rate at which they lend to retail banks.
The last exceptions to the tandem of central banks and government spending are; Andorra, Monaco, Nauru, Kiribati, Tuvalu, Palau, Marshall Islands and Federated States of Micronesia.
To my knowledge all of the central banks are privately owned, and exchange the money they print out of thin air for treasury bonds. The government can then spend the money as they see fit, at the expense of the savers, since the money supply increases with every currency unit printed.
Virtually the whole globe is in on the deceiving mechanism of fiat money creation, that acts a mean of wealth redistribution. It takes value from one person and hands it over to another, in simple terms. An action only has moral merit if it is performed without force and not causing another person harm. The premise of the welfare state acting as a social institution, falls apart already at the level of money creation. What is being sold as a social deed is in fact an undemocratic way of wealth redistribution, increasing the dependency on the state and forcing it's citizens to contribute to group-egoism that is unfavorable to them.
Being charitable is important and righteous. But it devolves into hypocrisy when applied to a whole society.
The government does not underlay a different form of morality than it's citizens. Wrongdoing is equally wrong, no matter who engages in it. If a person has no right to take another mans property under the threat of force, neither does the state. A bigger headcount can not dissolve principles. No human authority can dictate that wrong is right.
The government persuades its citizens into believing that wealth redistribution through means of inflation and taxation, making them complicit in this highly unethical behavior. This stretches to the personal beliefs of people, as it erodes the the sense for justice, moral and righteousness.
Theft by definition is to take another persons property against their will. The other side of the coins is that demanding social benefits from the state is order theft. The exemplary function of the political caste is highly effective - and therefore destructive for the moral framework of the people.
Amongst many evils, the government is only able to rob its people in the presence of a fiat money, whereas the existence of real money would only allow for miniscule proportions of that.
Ethics and moral suffer under the the creation of money in the immoral process that most nations excercise. The downside of the neverending flood of liquidity is the boundless debt burden , not only of the state, but also of companies and private persons. When the pressure increases to relief the debt burden, the temptations to engage in immoral behaviour increase, even for people that are usually righteous. It fosters antisocial behaviour and dependecy on the state. To keep their citizens content, the government usually increases their spending on social benefits, fueling the downwards spiral of eroding morals at ever increasing pace.
Happy to discuss my viewpoints and yours. I'm grateful for every constructive comment :)
Earn Crypto for spending Fiat! 0.5% Cashback for every In-store purchase with Wirex!
Available in most countries, conveniently spend Fiat, LTC, ETH and BTC and earn cashback on every purchase!
Trade BTC and Altcoins with high leverage at Bitmex. Increase your BTC holdings throughout the bearmarket by opening a short. Drinking the moonjuice? Go long and profit twice.
10% Trading fee discount when using my link.