Over-Hyped and Over-Valued

Central banking has metastasized into a mixture of insouciance and ignorance. Today’s crop of central bankers believe they’re the smartest people in the room who have all the answers and can manipulate every facet of the economy. This thinking creates the booms and busts, the recessions and depressions.

Marc Faber, editor and publisher of the Gloom, Boom and Doom Report, believes 21st century banking and constant monetary policy interventions have created an environment where there are “no safe assets” anymore.

Speaking in an interview with Bloomberg TV on Monday, Faber described how it was safer in the 1950s to deposit your money at a bank, but today there is repeated fear, anxiety and unknowing of what will happen next.

“I think that because of modern central banking and repeated monetary policy interventions, there is no safe asset anymore,” he told the news outlet.

Reprinted with permission from Economic Collapse News.