The king is dead, long live the queen.
https://translate.google.de/translat...istine-lagarde
Quote:
Politicians and central bankers feel like Goethe's sorcerer's apprentice: they will not let go of the ghosts they called. On the contrary, trying to fight the crisis is causing an ever greater problem. You can imagine this as follows: The central banks are pushing the debt balloon under water so that it does not become a problem. Meanwhile, this balloon gets bigger every year and pushes more to the surface. Only by more pressure can he be kept under water, only he inflates the more, the more you push him under the water. At some point, the central bank can not hold him and he shoots with all his might to the top.
With each further rescue action they pump up the ball further and thus lay the basis for the biggest debt crisis of all time. It's a big bet: are they able to (yet) manage to generate high inflation and thus find a somewhat painless path to debt relief or is the bubble bursting?
It is clear in any case that there will be no voluntary exit from the game. Which is why the appointment of French politician Christine Lagarde fits into the picture. The IMF, her previous employer, has produced several studies that show where the journey can go. The ideas range from surprising property taxes, the taxation of cash transactions to the ban on cash (and gold?).
It is undoubted that there is a lot of thought about how to push interest rates even deeper into negative territory without the savers being able to flee the system. Since this would not be enough, the next big step is being prepared in parallel: the direct financing of states by the central banks. Presumably justified by the urgent fight against climate change.
Only consistent. We have maneuvered ourselves into a dead end for decades. Now the final starts. Exit open, but the loser is clear: the saver.
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Its clear, still it is frightening. By my savings today and the economic logic from 15 years ago, I should have been able to live of them for 30-35 years. Now I hope for 20 years at best, but I am not certain that some sudden coup landed by the amok-running
politeska will not reduce my financial life expectancy to even just 15, maybe even just 10 years. Everything is possible with these criminals.
No wickedness too evil for it not to be done.