As a central banker would you accept a salary in the money you print ?

SNBthetrue · Oct 5, 2010

Serious question... How could you be paid in the money you print ? By definition it's worthless for you as you have tons and tons ( or billions of 0 after a number )... So would you accept such form of salary ? Issued in the money you print ?

Secondly, who is paying this salary ? Is the central banker "paying" himself ?

Martinghoul · Oct 5, 2010

Do you propose that they should be paid in gold or smth?

What's more interesting is that some CBs have pension schemes linked to domestic inflation... How 'bout 'em apples?

SNBthetrue · Oct 5, 2010

hÃ©hÃ©hÃ© dear Martinghoul,

Firstly I would seek the definition of salary : ( http://www.google.fr/search?hl=fr&d...y&sa=X&ei=KPuqTPWxB43GswbxkNyTBw&ved=0CBgQkAE )

"An amount paid to someone in exchange for services eg money in exchange for work services."
https://www.amp.com.au/wps/portal/au/AMPAUHelpCentre3C

So the question that will follow is which service(s) is a central banker providing ? They can't only be printing papers ? Don't they do other things ?

Martinghoul · Oct 5, 2010

They do many other things...

I'm curious about your name. You a fan of the Swiss National Bank?

campton123 · Oct 5, 2010

I also have this doubt...this thread is useful for me...
Thanks for such a nice query you share there..

SNBthetrue · Oct 5, 2010

Quote from Martinghoul:

They do many other things...

I'm curious about your name. You a fan of the Swiss National Bank?
More...

Hard question...

If I was a central banker for the last 10 years I would prefer to be paid in CHF than USD 4 sure... I would have earn more...

http://www.forecast-chart.com/images/currency/swiss-franc-september.gif

However I can't become a fan of any Central Bank playing the fractional interest based landing system for the reason that I suspect it to play a large role in the infamous Plato "the republic"... in particular in part 459a... on the part of Eugenics...

Quote from : http://classics.mit.edu/Plato/republic.mb.txt

And how can marriages be made most beneficial? --that is a questionwhich I put to you, because I see in your house dogs for hunting,and of the nobler sort of birds not a few. Now, I beseech you, do tell me, have you ever attended to their pairing and breeding?

In what particulars?
Why, in the first place, although they are all of a good sort, are
not some better than others?

True.
And do you breed from them all indifferently, or do you take care
to breed from the best only?

From the best.
And do you take the oldest or the youngest, or only those of ripe
age?

I choose only those of ripe age.
And if care was not taken in the breeding, your dogs and birds would greatly deteriorate?

Certainly.
And the same of horses and animals in general?
Undoubtedly.
Good heavens! my dear friend, I said, what consummate skill will our rulers need if the same principle holds of the human species!

Certainly, the same principle holds; but why does this involve any
particular skill?

Because, I said, our rulers will often have to practise upon the body corporate with medicines. Now you know that when patients do not require medicines, but have only to be put under a regimen, the inferior sort of practitioner is deemed to be good enough; but when medicine has to be given, then the doctor should be more of a man.

That is quite true, he said; but to what are you alluding?

I mean, I replied, that our rulers will find a considerable dose of
falsehood and deceit necessary for the good of their subjects: we
were saying that the use of all these things regarded as medicines might be of advantage.

And we were very right.
And this lawful use of them seems likely to be often needed in the
regulations of marriages and births.

How so?
Why, I said, the principle has been already laid down that the best of either sex should be united with the best as often, and the inferior with the inferior, as seldom as possible; and that they should rear the offspring of the one sort of union, but not of the other, if the flock is to be maintained in first-rate condition. Now these goings on must be a secret which the rulers only know, or there will be a further danger of our herd, as the guardians may be termed, breaking out into rebellion.

Very true.
Had we not better appoint certain festivals at which we will bring
together the brides and bridegrooms, and sacrifices will be offered
and suitable hymeneal songs composed by our poets: the number of weddings is a matter which must be left to the discretion of the rulers, whose aim will be to preserve the average of population? There are many other things which they will have to consider, such as the effects of wars and diseases and any similar agencies, in order as far as this is possible to prevent the State from becoming either too large or too small.

Certainly, he replied.
We shall have to invent some ingenious kind of lots which the less
worthy may draw on each occasion of our bringing them together, and then they will accuse their own ill-luck and not the rulers.

To be sure, he said.
And I think that our braver and better youth, besides their other
honours and rewards, might have greater facilities of intercourse
with women given them; their bravery will be a reason, and such fathers ought to have as many sons as possible.
[/B]
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The most frightening is that the guy writing this is considered to be the ( I quote wiki )... amazing... ( secondly amazing search the word dog in the text... it comes all the time ).

Quote from : http://en.wikipedia.org/wiki/Plato

Plato (English pronunciation: /ˈpleɪtoʊ/; Greek: Πλάτων, PlÃ¡tōn, "broad"[2]; 428/427 BC[a] â 348/347 BC), was a Classical Greek philosopher, mathematician, writer of philosophical dialogues, and founder of the Academy in Athens, the first institution of higher learning in the Western world. Along with his mentor, Socrates, and his student, Aristotle, Plato helped to lay the foundations of Western philosophy and science.[3] Plato was originally a student of Socrates, and was as much influenced by his thinking as by his apparently unjust execution.[/B]
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But I am nore sure that's an intended goal... fractional interest landing system will always destroy the weakest in the process of wealth creation...

Ghost of Cutten · Oct 5, 2010

Quote from SNBthetrue:

Hard question...

If I was a central banker for the last 10 years I would prefer to be paid in CHF than USD 4 sure... I would have earn more...

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You would have earned more by holding CHF, not getting paid in it. $100k in CHF is the same as $100k in dollars on the day you get it. Nothing stops you converting that to the currency of your choice, or even gold.

dtan1e · Oct 5, 2010

wonder if one of Plato's ingenious schemes would be wars including drafts to clean up the inferior stock

maxitronixy · Oct 6, 2010

there would be an uproar if it is know a central banker wants or is paid in another currency he is printing.

Why would a citizen have confidence in their own currency if their own central banker does not?

the higher ups would never perimit central bankers paid in other currencies

Scataphagos · Oct 6, 2010

Quote from maxitronixy:

"... the higher ups would never perimit central bankers paid in other currencies
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Just like when that model "wanted to be paid in Euros"... you could be paid in any currency, then immediately convert it to another on an exchange.