Axel Merk calls upon central banks to abolish their 0% interest rate policy (ZIRP) framework before more harm is done .. “ZIRP is bad for all stakeholders and may even lead to war” .. ZIRP is bad for business – “creative destruction may be undermined through ZIRP” .. ZIRP is bad for investors .. ZIRP is bad for Main Street .. ZIRP is bad for price stability .. ZIRP is bad for peace .. “We believe the key problem many countries have is debt .. The Great Depression ultimately ended in World War II. I’m not suggesting that the policies of any one politician currently in office or running for office will lead to World War III. However, I am rather concerned that the longer we continue on the current path, the more political instability will be fostered that could ultimately lead to a major international conflict .. The Fed needs to have the guts to tell Congress that it is not their role to fix their problems. It requires guts because they must be willing to accept a recession in making their point.”