The Road To Monetary Canossa – Pope Draghi Commands Mere Elected Politicians To Genuflect

by Sean Corrigan at The Cobden Centre
David Stockman’s Contra Corner

That the artificial interest rates in evidence in our hugely distorted capital and money markets can be made negative in nominal as well as in real terms is, alas, the curse of the modern age. Though entirely at odds with natural order – as we have repeatedly tried to make plain – they are also a curse that we are unlikely to have lifted any time soon, especially not in a Europe where there is no effective restraint to be had upon the exercise of his awful powers by the likes of a fanatic like Draghi.

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