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Wednesday, July 26, 2017

Central Bankers 'Are' The Crisis

If there’s one myth - and there are many - that we should invalidate in the cross-over world of politics and economics, it‘s that central banks have saved us from a financial crisis. It’s a carefully construed myth, but it’s as false as can be. Our central banks have caused our financial crises, not saved us from them.

It really should -but doesn’t- make us cringe uncontrollably to see Bank of England governor-for-hire Mark Carney announce -straightfaced- that:

"A decade after the start of the global financial crisis, G20 reforms are building a safer, simpler and fairer financial system. “We have fixed the issues that caused the last crisis. They were fundamental and deep-seated, which is why it was such a major job.”

Or, for that matter, to see Fed chief Janet Yellen declare that there won’t be another financial crisis in her lifetime, while she’s busy-bee busy building that next crisis as we speak. These people are now saying increasingly crazy things, and that should make us pause.

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1 comment:

Anonymous said...

Joe,
Thanks for posting this article.
I speak with a lot of people who are oblivious to the Central Banking problem and believe it is a conspiracy theory.
In fact, it is a real live conspiracy against the people of the Western Nations.
Those countries identified by "W" as the axis of evil are the ones who realize Western Banks are criminal organizations and they don't want to sell their natural resources in exchange for the fake fiat currencies the Bankers produce.

This is the most important topic for people to educate themselves.