FRANKFURT, Germany – Never before have the world’s central banks sent so much money sloshing through the global financial system.
From slashing interest rates and buying government debt to dangling cheap loans to banks and taking on their risky assets, central banks have taken extraordinary steps since the 2008 financial crisis to nurse the international banking system back to health.
Over the past 3½ years, the central banks of the United States, Britain, Japan and the 17 countries that use the euro have pumped out so much money that their balance sheets have reached a combined $8.8 trillion. That’s a record, by far.
The infusion of money has eased borrowing costs and raised confidence in banks, governments and companies.
Very deflationary >_>- Sarcasm
Maybe we can get ISDA also known as: (Bank of America, Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank AG, Goldman Sachs, JPMorgan Chase Bank, N.A., Morgan Stanley, UBS, BNP Paribas, Societe Generale, Citadel Investment Group LLC, D.E. Shaw Group, BlueMountain Capital Elliott Management Corporation, PIMCO) to take over Geico and then this won’t be considered a totaled vehicle either. Warren can sell insurance and never pay out on it and they can just print economic lifelines for billionairs and we can all pay for it day in and day out with a dead economy and a worthless dollar.
Insane asylum with psychopaths running the farm.
Absolute anti-generational-tyranny. Our kids are “proverbialed” to the wall.
P.S. I was just cleaning up after dinner and caught Egon von Greyerz on KWN. Here are 4 relivant key points he made with respect to bloated balance sheets of CBs and future necessary interventions:
- The ECB’s balance sheet is north of 3 trillion € (that’s about $3,965,000,000,000 U.S. “Dawlers” as my favoritre reporter calls them. vo Greyerz called the balance sheet toxin leveraged at 40:1
- NOONG Bernanke’s [Not One Of Natures Gentlemen] balance sheet is over $3 trillion. von Greyerz called the balance sheet toxin leveraged at 50:1
- People who leave their money in the banking system for the next few years are in all likelehood not going to be able to get it back out
- “You know why Warren Buffett doesn’t like gold, doesn’t understand gold, its out-performed his stock by 3.5 times over the past 10 years.