Sunday, October 02, 2016

Legend Who Oversees $180 Billion 
Warns World Financial System 
‘Is Headed For A Train Wreck’
"This train is headed for a train wreck. The only question is, when? The short answer to that question is, nobody knows when .. Bill Gross and others have noted that negative interest rates have never happened in a 5,000 year history of interest rates. OK, so we now have central bankers playing games that have never been tried in 5,000 years. And they take us deep into uncharted territory, and they think that their charts of charted territory — their models — are going to work. They’re not going to work. Negative interest rates are crushing to entrepreneurialism, they are crushing to confidence in the future and a willingness to bear risk. And what do they stimulate? They stimulate hoarding. That’s why there is talk of eliminating currency. Again, it’s not about organized crime. It’s about you earned it, you saved it, we want it. Or at least we want to control it and know where it is, and know how and where to grab it if we need it. Well, that’s appalling, but that seems to be the mindset of the central bankers these days and it’s very scary."
- Rob Arnott
LINK HERE to the article & podcast

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