This article can be found on Finance and Economics, the website of ecnomist and former banker Alasdair Macleod.
However, his quote “Zero interest rate represents the most serious mispricing of money. It does not contribute to producing the savings industry requires for recovery.” indicates that he sees “money” only as a product.
I refer to his article here mainly to illustrate the “games” central bankers play
- with governments – through “government bonds“
- the value of money – through “freshly created paper money“
- the price of gold and silver – through price suppression schemes that GATA has been pointing out for years.
Alasdair Macleod predicts the “death” of money, by comparing with history in the 18th century. I shall not join him in predictions. But I do hope that the current trends will NOT continue!
Filed under: Central Banks, Credit creation, Government debt, National debt, Public debt, Sovereign debt Tagged: | Banknote, Central bank, Federal Reserve System, Government bond, Inflation, Medium of exchange
