Ultra Easy Money: Digging the Hole Deeper?
By GCRU Gold News on Tuesday, January 31 2017, 02:59 - Permalink
When we had a problem in 1987 – some of you may be old enough, long enough in the business to remember that, – the answer was, ‘print the money’. And when we had a problem in 1990 and 1991, the answer was, ‘print the money’. And when we had the difficulties in South East Asia and LTCM in 1997 and 1998, the answer was, ‘print the money’. And in 2001, when the economy tanked, the answer was, ‘print the money’. I think that has given money, and the associated increase in credit and debt, a ver y important and dangerous role which it is playing out even as we speak.
"There is a lot of history that indicates that a slowdown, when a country faces a very bad fiscal situation, leads to still more recourse to the central bank and to people, ordinary people and traders, seeing the writing on the wall that central bank financing will eventually lead to inflation."
From the latest Alchemist