In this week's Off The Cuff podcast, Chris and Nomi Prins discuss:
- The Ghosts Of 2008
- Are suddenly returning en masse to haunt us
- Growing Central Bank Insecurity
- Beginning to realize that they've cornered themselves
- The War On Cash
- Central planners continue to tighten restrictions
- No Solutions For The Status Quo
- A massive reset is the best we can hope for
Recently returned from a joint Fed/IMF/World Bank Conference, Nomi relays to Chris how many of the world's central planners are becoming increasingly worried that there's little they can do to address the building instabilities erupting across the global economy.
It's beginning to dawn on a few of them that keeping interest rates at zero for the past 7 years may not have been wise after all. Besides enabling a massive wealth transfer from the public to the banks and the 1%, very little was accomplished. The same structural risks that led to the 2008 crisis are still present — in fact, they're much larger. For example, the TBTF banks have become even bigger, having seen underlying assets bloom by 41% vs 7 years ago. As of today, the top 4 US banks hold $219 trillion — 93% of the market — of US derivatives.
But the central planners don't see a way out of the corner they've painted themselves into.
by arthur-robey-2