There Are No Honest Politicians

Central Bank heads believe they are magicians who can wave their magic wand to create whatever economic conditions they desire. But the problem is that they are consistently wrong in their assessment of the economy so they don’t know what to do with the wand. Also, the wand is not magic but just bogus. And this is the dilemma of all central banks. They are given unlimited powers to manipulate monetary policy and to print money.But when you give infinite powers to someone who can neither assess the situation properly nor understands the consequences of his actions, it is like giving weapons of mass destruction to a bunch of kids. But it is actually worse than that because the bankers are using the weapons to create wealth for their banker friends. Thus, central banks have created mega wealth for an infinitely small minority and unlimited debt and misery for the rest of the world. What central banks are doing is to create booms and busts of a magnitude that totally destroys the economy. And this is exactly what will happen in the next few years again.

The world economy would function considerably better without central banks. Instead of the massive booms and bust that we currently have, there would just be natural self-correcting economic cycles of much smaller amplitude. Because the turn of the cycle that is now beginning will change the world for a very long time. One hundred years of mismanagement will lead to the economic and human misery that could last decades or even

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