01/22/2015 - The Financial Markets Have Been Replaced By Financial Repression
“As investors we are all now the subjects of a grotesque monetary experiment. This experiment has never been tried before, and its outcome remains uncertain. The unproven thesis, however, runs something like this: six years into a second Great Depression, the only ‘solution’ is for central banks to print ever greater amounts of money. Somehow, gifting free money to the banks that helped precipitate the crisis will lead to a ‘trickle down’ wealth effect. Instead of impoverishing those with savings, inflation will be some kind of miraculous curative, and it must be encouraged at all costs. It bears repeating: we are in an extraordinary financial environment. In the words of the fund managers at Incrementum AG: ‘We are currently on a journey to the outer reaches of the monetary universe.’ .. The market – a quaint concept of a bygone age – has largely disappeared. It has been replaced throughout the West by bureaucratic manipulation of prices, in part known as QE but better described as financial repression.”
– Tim Price
