If We Are Using Every Stimulus Tool in the Book at the Top of the Cycle, What Are We Going To Do In The Next Downturn?
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 for 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.
These low interest rates have in turn fuelled economic booms, encouraging excessive risk taking. Booms have then turned to busts, which policymakers have responded to with even lower rates....
“Rather than just reflecting the current weakness, [lower rates] may in part have contributed to it by fuelling costly financial booms and busts and delaying adjustment. The result is too much debt, too little growth and too low interest rates.
"In short, low rates beget lower rates."
The BIS warned that interest rates have now been so low for so long that central banks are unequipped to fight the next crises.
If you did not want to be followed, then you could have taken up on
any of my three offers of peace, or avoided my six threats of treating
you as you treat me, or you could have been honest enough and competent enough not to stir this garbage up again, and again.
Like I said, you can quit anytime you like. I have allowed these discussions to lapse dozens of times, you always restart them days, weeks, or months later. AS WELL, when I tell you to have that precious last word, you bombard that particular blog until I get sick of listening to you.
I attack you, because you have attacked me and many other posters. You seem to see peace as weakness and an open invitation to assault the sensibilities of others.
The West went off the Classical Gold Standard in 1914 to fight WWI. While the US did technically stay on it it suspended payments in July 1914 for around six months and made the export of specie illegal after it entered the war. After the war was over it went back on the standard at the same rate. In the interwar years the West tried to go back on a gold standard but they never went back as before. The adopted a fake gold standard called the gold exchange standard. That allowed Britain to inflate too much and the Fed, in its attempt to support the Bank of England helped create a bubble in the last half of the 1920s. That monetary expansion ended badly and in their attempt to put the s*it into the horse Hoover and FDR turned a sharp contraction into a Great Depression. FDR finally went off the gold standard when he confiscated domestic gold holdings and revalued them afterwards to create inflation. That did not work out well and the US failed to recover until after the War was over and FDR was in the ground.
As I have said, you are consigned to repeating all manner of lies ad infinitum, ad nauseum.
So,for the intellectually and honestly limited such as yourself, the answer is very simple. I have answered and destroyed your entire discussion totally and repeatedly. I do not need to address the same lies again. Ever.
You have never proved anything, and you never will.
What are you responding to? I provided a history of the US dollar during the war and pointed out that specie payment was suspended for a while and the Classical Gold Standard was not in effect for at least two and a half years. I also pointed out that it would help if you tried to read something about the subject that you are debating because it is clear that you do not understand it.
Why do you keep repeating the same posting over and over again? And why don't you deal with the facts that were cited to show you that you were clueless about the subject?
What lie? It is not my problem that you can't read the reference materials and that what you think is not what actually happened. Try being a bit more humble my ignorant friend because there is a big difference between what you think you know and what is true.
For instance 1917 is not 1934. You have continued to relate false narratives on every subject you address. The "histories" you advance are all proven false.
Once again, you are consigned to repeating all manner of lies ad infinitum, ad nauseum. I merely repeat the truth, but I have no obligation to do so again and again just to satisfy your need to troll and bully. You re-started this dead issue, and you already cost me $125 this time. Everyone knew you would start trolling again, but I guessed a little to quickly.
Your so-called reference material has been proven to be convenient lies to advance your soicopathic views and drives. So, of no value.
As always, you are consigned to repeating all manner of lies ad infinitum, ad nauseum.
So, for the intellectually and honestly limited such as yourself, the answer is very simple. I have answered and destroyed your entire discussion totally and repeatedly. I do not need to address the same lies again.
One thing is for sure, we are having a lively pool tonight betting on what you will say next. Of course, I could have said nothing, but I just had to call up some friends and relatives to share the exploits of the great eVangeliar. Once again in his bully puppet where he is so much at home, and so cluelessly ineffective.
Of course, I have to try to win back some of my money.
To tell the truth, I already got more than the $125 back. Some thought you would be gone for good, but I knew better.