… It is actually quite unbelievable how the central bankers have managed to negatively affect the world economy during the past 11 years. While rather interesting from a dispassionate academic perspective, the resulting fragility of the world economy and financial markets means that we are prone to an epic collapse, which will hurt households, companies and even countries badly.
The collapse may start from the U.S. stock market, some corner of the U.S. credit markets, from the teetering European banking sector, or from some other obscure part of the financial markets. The only question is, how long do we have?
With the second wave of the coronavirus pandemic gathering steam, the only remotely reliable answer we can give is, “not long”.
And, when the collapse occurs, then the fate of our and future generations will be decided. If we let the central banks assume full control of our economies, a truly horrible future scenario emerges, as we warned in the Q-Review 9/2020.
However, if we let the crisis play out and allow the foundations of the market economy, like free price discovery in the capital markets, to return, we are likely to face one of the most prosperous periods in human history.
The simple fact is that is time has come for the central banks to go. The sooner, the better.
This is only the conclusion of the article. Read it in full at https://www.zerohedge.com/economics/destruction-world-economy-central-banks