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ameister14 · 2017-12-07 · Original thread
>The presence of a totalitarian ruler willing to constantly backstop markets prevents panics and actually makes the system work better.

Not really. Remember this?

If the government backs everything, people will engage in riskier behavior because they don't accurately assess risk. That creates a massive bubble of risky investments until it's too large for the government to effectively control.

There's an interesting book on the subject you might want to check out:

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