Friday, July 22, 2016

The Bank Of Central Banks Reveals 
The Biggest Threat 
To The Global Financial System:
Loss Of Faith In Central Banks
"Here’s the problem with current monetary policy .. Right now, the problem is that monetary policy is carrying a load it was not designed to bear .. This long-term reliance on extraordinary monetary policy carries a big risk—causing the rest of us to lose faith in the policymakers. The BIS warns: 'Financial markets have grown increasingly dependent on central banks’ support, and the room for policy maneuver has narrowed. Should this situation be stretched to the point of shaking public confidence in policymaking, the consequences for financial markets and the economy could be serious.' .. In other words, what happens when banks, investors, and the public lose trust in the Fed, the ECB, the Bank of England, and the Bank of Japan?"
- John Mauldin*
LINK HERE to the essay

1 comment:

Anonymous said...

Good as Goldman: Hillary and Wall Street

by Jeffrey St. Clair



A less paranoid politician would have simply released the tedious transcripts of the speeches on a Friday evening to bore insomniac readers to sleep. The real question, of course, was never about the content of the speeches, but about why Goldman was paying her $225,000 an hour to give them. Goldman executives weren’t huddling around Mrs. Clinton to listen to her recite the obscurantist mish-mash ghost-dictated by her top economic advisor Alan Blinder.

Blinder, a well-known Wall Street commodity himself, is a former vice-chair of the Federal Reserve and co-founder of Promontory Interfinancial Network, a regulatory arbitrage outfit whose top executives pocket $30 million a year.

Blinder has publicly assured his Wall Street pals that Clinton will not under any circumstances break up the big banks and neither will she seek to reanimate Glass-Steagall, the Depression-era regulatory measure whose exsanguination by her husband enabled the financial looting by firms like Goldman and Lehman Brothers that spurred the global economic collapse of 2008.


http://www.counterpunch.org/2016/07/22/good-as-goldman-hillary-and-wall-street/


END THE FED