We’d like to recommend something for you to read at the weekend. It’s the article linked at the bottom of this post, written by Danielle DiMartino Booth, an economic analyst specialising in central banks. A decade ago, Danielle Booth successfully predicted the catastrophe caused by the property bubble and the abuse of mortgage lending by US banks. Let us remember that the so-called «subprime crisis» was the phenomenon that triggered the collapse of the financial system, which today remains afloat only thanks to (or because of) the life support provided by central banks, at the expense of the growth and wealth of future generations.
Before you dismiss this analyst as an alarmist who is blowing things out of proportion, we’d like to remind you that Danielle was the right-hand woman to the former President of the Dallas Fed Richard Fisher during his 10-year term. Fisher (and his right-hand woman, Danielle) clashed with Bernanke when he began the mass creation of money and debt. And in 2013, Fisher and Booth also strongly disagreed with the launch of the third round of quantitative easing, considering it to be «one step too far».
If you’d like to explore Danielle’s analysis in a bit more depth, you can also read what ZeroHedge had to say about her last year: «Another Fed Insider Quits, Tells the Truth«. For our part, we would simply like to reiterate the warnings we have been making since 2013 in articles such as «The Age of Central Banks«.
We know that some of you think our articles are generally too pessimistic. But perhaps, after reading Danielle’s piece, you’ll find ours are even a bit «happy-go-lucky» 😉 In any case, we wish you a happy weekend and hope this slap in the face of raw realism entitled «Central Banks and the rise of extremism» doesn’t spoil it for you:
«Central Banks and the Rise of Extremism.»