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Definitely private companies, because they can't force you to use the currency they're manipulating or to back up their losses when they fail.
Someone has never heard of company scrip.
If they're using force, then they are no longer a private company. They would be a criminal organization, like the state.
So they wont take stupid risks.
The government throwing money away doesnt mean much because they can just print more.
They'll take stupid risks, but the ones that do so too much are put out of business by their competitors. Just like natural selection, over time the most sustainable business models survive.
Yes, but free market is better than manipulation.
The strong survive.
It wont just be bail out heaven.
I agree with this take. I don't think private companies are any bit more pure and kind hearted - but in the end they have a responsibility to customers, whereas the government they can just smooth over anything with further QE.
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Definitely private companies, because they can't force you to use the currency they're manipulating or to back up their losses when they fail.
During the periods when America had no central bank, private banks would engage in fractional reserve lending. Just like today, they were trying to make an easy buck. The problem was that their competitors would accumulate their over-issued notes and go claim all of their gold reserves.
When it's private actors, they have to worry about getting wrecked by the very scheme they're trying to perpetrate.