Monday, April 20, 2015

Citigroup’s Chief Economist blames cash, not central banks, for world’s monetary problems

It doesn’t really take that much to be an economist these days.  From the illustrious former Federal Reserve Chairman Ben Bernanke, to the Nobel Prize winning economist Paul Krugman, living the dream of being a celebrity while at the same time destroying economies and monetary stability is par for the course in an era when those who get it right are considered crackpots, and those who feed the needs of the oligarchy are worshiped and adored.
So it should come as no surprise in 2015 that another ‘economist’ from the banking cabal should offer up a radical solution to deflect the perilous actions of central banks, and blame the people instead for the push towards economic collapse.  In an article penned by Citigroup’s Chief Economist Willem Buiter, the head analyst for a bank that nearly brought down the system just seven years ago, the ‘esteemed’ economist is suggesting that the real problem to the monetary system is the use of cash in the economy, and without it central banks wouldn’t have had to debase the currency through zero interest rates, and now, negative interest rates.
Never admitting of course, that if the central bank had not intervened in the first place over the past few decades, we would never have been in the situation the world’s monetary system is now.


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