My MacroEcon 303 prof was a Keynesian, and I would disagree with him all the time about the economy, what direction it was going in, and why. How government, nd fed's the fiscal and monetary policy would effect the economy, right or wrong, nice, but with a price to pay later down the line. At least one a week I would end up getting out of me seat grabbing chalk and writing on the backboard arguing my point of view. For example, in 2007, I thought that Greenspans 1% interest rates were left too low too long which enabled the funding of the housing and derivative/credit bubble once congress opened the door when they let banks play hedge fund with their depositors savings at 40:1, and that housing bill.
I thought that bernanke's raising interest rates would continue pushing housing prices down by that magic 2%, that would push Bear Stearns, or Lehman, or JP, or Goldman( prob not tho cause they basically are the NY fed) at their 40:1 leverage into margin call causing a cascade effect across the banks and whole economy, a crash... as the leverage upon leverage, all these malinvestments, that couldn't have been made unless the monetary and banking system had been distorted in the first place by the fed playing with interest rates.
He was a Keynesian, you actually reminded me of him. He disagreed citing all the reasons you've cited for a central bank being a good thing.
I paid for college off those trades. Now I'm investing my future into bitcoin with similar conviction, and surety that I'm not gambling, but investing in a macroeconomic near inevitability.
The same Austrian principals and knowledge of K, neo-K, and informed by all the other heterodox economic theories I've studied ...are what are informing my reasoning behind my opinion, and willingness to put 20k, my lifes savings into starting a bitcoin business, because of how sure I am that there's going to be a growing, evolving, massive, and world changing bitcoin economy out there, and I wanto 1 be a part of it, and 2 get in on the ground floor. This is definitely the ground floor. <$100 was the basement. We've got a long way to grow.