Tuesday, March 8, 2016

Central banks are a disgrace to a democratic society says Marc Faber

I have always maintained derivatives will not exist forever. Eventually, there will be no derivatives and we'll start a new system, which is based on, say, gold or another currency that cannot be multiplied by some academics at the central bank. I mean, when you think about it philosophically, now we have 5,000 years of human history from the old days in Babylon up to today that has been recorded. Never, ever before have interest rates been this low. Never, ever before have we had negative interest rates. This has all been created by some mad academics that populate the halls of glass buildings called central banks. 

This is now really a disgrace to humanity that in democracies in particular, we give so much power to these people that basically rule the world to a large extent.