British banker Sir Evelyn de Rothschild, who expanded the family bank and advised the late Queen Elizabeth II on financial matters, has died aged 91. “Sir Evelyn died peacefully [on Monday] at his home in London after a short illness,” the family said on Tuesday. The businessman, who trained race horses, dedicated 42 years of his career to his family’s bank.
In a ‘History of Central Banking and the Enslavement of Mankind’ ex-South African banker, the late Stephen Goodson explains how the Central Banking “scam” originated, and how those who run it have throughout history used their power to subvert governments, and manufacture wars that not only produced vast profits, but frequently to topple ‘regimes’ whose banking system was not under their control.
Profits and losses aren’t usually thought of as a consideration for central banks, but rapidly mounting red ink at the Federal Reserve and many peers risks becoming more than just an accounting oddity.
WASHINGTON — America’s gross national debt exceeded $31 trillion for the first time on Tuesday, a grim financial milestone that arrived just as the nation’s long-term fiscal picture has darkened amid rising interest rates.
Just a few days ago we wrote that "Something Is About To Break" and prompt a capitulation from one or more central banks, which oddly was met with mockery in the comment gallery. Also, a few weeks ago, we said that we are nearing a moment in time when central banks will do QE and rate hikes at the same time.
Too much government spending and loose monetary policy lead to rising prices combined with falling economic growth rates. All Keynesian roads lead to stagflation. It is the result of economic mismanagement. Again and again, the belief has been proven wrong that central bankers could guarantee the so-called price stability and that fiscal policy could prevent economic downturns. The present crisis is one more piece of evidence that interventionist monetary and fiscal policies are disruptive. Instead of a permanent boom, the result is stagflation.