Neil Macdonald: The 'monarchs of money' and the war on savers … Power Shift: First in a series on the rise of the central bankers and the global imposition of cheap credit … Quietly, without much public fuss or discussion, a new ruling class has risen in the richer nations. These men and women are unelected and tend to shun the publicity hogged by the politicians with whom they co-exist. They are the world's central bankers. Every six weeks or so, they gather in Basel, Switzerland, for secret discussions and, to an extent at least, they act in concert. The decisions that emerge from those meetings affect the entire world. And yet the broad public has a dim understanding, if any, of the job they do. In fact, these individuals now wield at least as much influence over the lives of ordinary citizens as prime ministers and presidents. – CBC

Dominant Social Theme: Who are these mighty tyrants, and why must we shiver and shake in their wake?

Free-Market Analysis: We have been noting the spate of adulatory articles appearing in the mainstream press regarding central banks and central bankers. It really is quite amazing. Reuters has run several articles comparing central bankers to superheroes.

And now comes the Canadian Broadcasting Company to further profile these folks in a special series called "Monarchs of Money" – a three-part special editorial series. This initial post was placed on the CBC website.

The point of this exercise – clever as always – is surely to acknowledge the flaws in the system while pointing out that there are simply no better solutions. This is the globalists' ploy: Sure it's bad, but do YOU have a better idea? And if you do, can it be implemented?

The answer, of course, is supposed to be "no." Anyway, we can see this paradigm in operation in this article. The operative element can be found in the conclusion of this first post and reads as follows:

This transfer from savers to borrowers has also been taking place here in the U.S. and in Canada, to varying degrees.

… As stupid as it might sound, older people everywhere would probably be better off if they'd abandoned prudence and borrowed more … The plain fact, though, is that central bank- and government-imposed solutions to disasters caused by irresponsible, greedy, foolish behaviour are almost always carried out on the backs of the virtuous.

… In an interview in his Ottawa office, Bank of Canada governor Mark Carney defends quantitative easing elsewhere, and his own low-interest rate policy, though he does acknowledge that it has been hard on pensioners and savers.

As for carrying out these solutions on the backs of the virtuous: "I don't see a world where the virtuous are rewarded if we suffered a second Depression," he says. "These are the stakes."

As Canada has performed better than most Western nations, Carney has not ordered any new money printing.

But he has kept interest rates down, and that has fed the real estate booms over the last few years in Vancouver, Toronto, Calgary and elsewhere.

He scoffs at the suggestion that "the party" will end at some point. "I am not sure we are having a party right now," he says. "It doesn't feel like a party."

And, in fact, he has repeatedly expressed concern at the huge debt levels Canadians are accruing, at least partly because of his low-rate policies.

But surely he understands the anger of an older person watching their savings being eroded, I ask him.

Carney smiles grimly. That question is clearly a sore point. He gets a lot of mail on the topic.

Carney would prefer not to talk about the enormous power central bankers have gained since 2008, saying only: "We have a tremendous responsibility … because of a series of mistakes that were made in the private sector and the public sector."

See the surge in central bank holdings, the printing of new money, beginning in the spring of 2008 with the bank bailouts and the acquistion of long-term securities to keep interest rates down. (International Monetary Fund)

Canadians, he says, must understand that the alternative is massive unemployment and thousands of businesses going under, and "my experience with Canadians is that they tend to think about their neighbours and their children and more broadly … they care a little bit more than just about themselves."

Asked whether central bankers are not in fact enabling irresponsible behaviour by speculators enamoured of cheap money, not to mention politicians who can't curb their borrowing and spending, Carney merely remarks that voters in a democracy get the governments they choose.

You see? This is how modern dominant social themes tend to work. Acknowledge the obvious and then present the alternatives or lack of them. It's YOUR fault. Come up with a better solution.

Okay. We accept the challenge. End the Fed. End monopoly central banking. Let money compete without restraints and without the interference of so-called wise men. There. Problem solved.

We don't even need a three-part series to propose it.