If you love Central Bankers, please ignore this article.
There is some great stuff being written lately, inclding this article by JS Kim, Chief Investment Strategist for the independent investment research & consulting firm SmartKnowledgeU, LLC., posted two days ago on zerohedge.com
“Central Banks: The Pimps of the World Economy
All global economic problems today are rooted in the existence of Central Banks and their commitment to an application of destructive Keynesian economic theories to our global monetary system that simply has not worked for the better part of this century. Within the realm of academics, monetary policy, politics and media, there is a persistent refusal to acknowledge the primary role Central Banks undertake in artificially creating boom-bust cycles that would not occur in such severe fashion were Central Banks simply willing to step out of the way and allow free market forces to operate.
If you ask anyone that graduated from Wharton, Harvard or Oxford, or any number of other Western universities, with a degree in business or economics who Alan Greenspan is, I guarantee you that he or she knows (I myself graduated from the University of Pennsylvania); however, ask them who Friedrich A. Hayek is, and I doubt if anyone knows. Yet those of us that adhere to Austrian economic theories have used our understanding of sound monetary principles to accurately predict all steps of this crisis since 2006. So how did I learn about Austrian economic theories despite never having heard of Friedrich A. Hayek during my entire 18 years of schooling? For the last 15 years, I taught myself what the institutionalized formal educational system refused to teach me. For those of us that continue to analyze this financial global disaster through the lens of the Austrian School of Economics, despite the successful accuracy of our past predictions, even today, we are summarily dismissed as crazy “gloom and doomers”, while those that steadfastly adhere to Keynesian economics principles (all Western Central Banks as well as the governments and politicians they control), upon reflection, are the ones guilty of the predominant body of wildly inaccurate, unsound, and failed predictions over the past 3 years……”
Full article at: http://www.zerohedge.com/article/central-banks-pimps-world-economy
P.S. There is a web address at the bottom of the article worth a look as well.
LOL, nice title!
It’s all about the central banks, they run the worlds finances and money.