The lessons of history are that such situations are prone to escalate into rancour and, ultimately, conflict. That’s the unfortunate truth... In the end, you see, whatever the actions of politicised central bankers, the fundamentals win.
I'd say this chap appears to be "spot on", eh?
So, in the world's leading economies we create money out of thin air to buy government debt, that allows spendthrift politicians to buy votes by providing programs that we can't afford. Interest rates are kept near zero to force investors into risky assets such as the overinflated stock market. Makes you wonder what do they do in banana republics?
ReplyDelete