Click here to access article by Charles Hugh Smith from his blog Of Two Minds.
Because this writer is a true believer of the TINA principle, he can not see that the privatization of money, like most everything else of value, is an integral part of capitalism. However, he does see at least some of the adverse consequences that this private control of money causes.
One devastating consequence for workers especially is that they are the ones who suffer most when the bankers, central and otherwise, issue credit for production of goods and services beyond which consumers can afford to buy. That is precisely why we have experienced so many economic booms and busts.
But this is a relentless tendency of capitalist enterprise: obsessive investment in profit-producing goods and services--not to satisfy needed goods and services. That is why the industry of advertising is so critically required for this system to function: to inculcate the desire for goods and services beyond those that are needed.
An added bonus that the system of capitalism provides is the overwhelming political power given to those who "own" and control the most wealth. The latter inevitably tend to form a ruling class. I argue "tend" because it is not clear to me if this principle applies "inevitably" to the Russia and China whose governments have only adopted the system recently, and appear to be trying to control their capitalists in the service of the state, as they see it.