The Central Bank of Central Banks

June29

The World is Defenceless Against the Next Financial Crisis, Warns BIS


From the article:

The world will be unable to fight the next global financial crash as central banks have used up their ammunition trying to tackle the last crises, the Bank of International Settlements has warned.

The so-called central bank of central banks launched a scatching critique of global monetary policy in its annual report. The BIS claimed that central banks have backed themselves into a corner after repeatedly cutting interest rates to shore up their economies.

Remember the E.F. Hutton commercial where it said when E.F. Hutton talks people listen?

When the Central Bank…of Central Bank’s says something maybe we should listen. Even “if” some people think it’s a manufactured crisis. And why? Because regardless if it’s real or not, most people will assume it’s the real deal and the effects will be the same.

I’ve wondered…are articles such as this one part of a false narrative?

I read a lot of articles. Not everything makes it to my site or, is published. And I hate to admit this but  sometimes they remain in the draft section. I’m trying to get better at making sure articles get posted.

One thing I have noticed is that there are articles where supposedly it’s “secret” information that has been “revealed” and the informer is supposedly “anonymous”. Personally…I think it’s hogwash. And that’s putting it mildly.

One other thing I wanted to mention is that just like I didn’t know there was a Central Bank of Central Banks, did you know that there is also an insurance company that insures insurance companies. How deep things go…we may never know…

Comments:

At a charity event after the 2008 economic crash, I found myself sitting next to a just retired member of the Federal Reserve Board. I joked “I’m surprised to see you here and not in jail!”. He came right back to me with “you’re exactly right – for our ineptitude, we SHOULD ALL be in jail”. What we all forget is, we still think those in charge actually know what they are doing, but what has happened since that debacle has only set us up for a far worse result, one that perhaps we are just this week beginning to see unravel. Luckily I’m out of the market, but many are about to lose their shirts as the 2.5% haircut of our entire GDP proved in today’s market. This week ahead should be extremely and terrifyingly interesting.

Markets should set interest rates. What I never hear about is the pain caused to those who save money, as countries devalue their currencies, and tax any interest you are blessed to receive. What a wicked web central bankers and their crony bankers have weaved.

Wish I could say string them up. But I can’t. So long as these systems are in place the sociopaths will push these systems to their extremes while extracting the maximum levels of other people’s labor as possible. I just want to experience a transition to something fair. Physical gold. Physical Silver. Bitcoin. Something where central planners can not create stored human labor (money) on a whim.

I usually don’t comment on a comment but…

This person really thinks that the people who have been in charge of this fiasco are going to transition to something FAIR?  He thinks that the Central Banker’s will relinquish their control, lol. They will just tighten the noose.

Markets and economies are staged like plays and voting.

I’m in the US, where the annual government spending is in the 3-Trillion Dollar range. With a little rounding, that’s 10 billion dollars a day. Even using a 24-hour day, the Greek debt is what we spend/waste daily between breakfast and lunch. I fail to see how a single billion-dollar default could upset the world’s economies. I’m an engineer, not an economist, so take that for what it’s worth.

But, having been an engineer for decades, I have certain analytical skills to employ and I smell something fishy. Others have written of a manufactured crisis. Amen.

  • “So spending more than you earn will actually catch up with you at some point? Hmm…that’s an interesting concept. I wish I would have learned that one earlier”
    —A sad majority of American citizens.

    People think in terms of money to meet their needs. Actually, they can only receive what is produced. If you produce less than you consume, you will soon have nothing to consume. It is the same as spending more than your income seen from another perspective.

  • The Title should have read: “The World is Defenseless Against the Next Manufactured Financial Crisis.”

    Or, “People Who Don’t Understand The Peril Of Out of Control Debt And Government Spending Seen Whistling Towards The Cliff.”

    Big governments think they are exempt from the realities of kitchen table economics

    http://www.telegraph.co.uk/finance/economics/11704051/The-world-is-defenseless-against-the-next-financial-crisis-warns-BIS.html