Taking an Austrian School of Economics approach, Mark Spitznagel just made a billion dollars a few weeks ago & explains the fallacies & distortions being caused by central banks – the unintended consequences of financial repression .. “Great myths die hard. And I think what we’re witnessing today is the slow death of one of the great myths of human history: this idea that centrally planned command economies work, that they’re even feasible, and that they can be successful. It’s one of these enigmatic mythologies of the last hundred years in particular that we’ve been grappling with, and here we are today yet again thinking about this. Let’s remember that in the last hundred years a lot of blood has been shed over this mythology. And here we are today, how did we get here again? .. I think that another generation will look back and say ‘how could you have made that mistake all over again? How could you have failed to understand Hayek’s notion of the fatal conceit, that central planners can’t do better than the dispersed knowledge and signals of free market processes?’ .. When bureaucrats mandate low interest rates it doesn’t spawn long term productive investment. What it spawns is this short term gambling, punting on momentum-driven moves, on levered buybacks. This is the world we’re in today.”

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