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Are you a person entitled to relief? ‘Monetary activism’ defrauds rustics - Nooganomics. Local economy & free markets
print In Basel, Switzerland, in a cylindrical building overlooking the Rhine, the gnomes of world finance meet every two weeks. Over dinner in their 18th floor hideout, they talk freely without any staffers of their terrible dilemma. Since 2007, these heads of the world’s biggest central banks have “flooded the world’s financial system with more than $11 trillion” in credit. The problem: It’s not enough. These lenders “plan to pump billions more into government bonds, mortgages and business loans,” the Wall Street Journal reports, in an attempt to borrow the world out of a mountain of stagnant debt that hangs