A Central Banking Insider Just Admitted QE Cannot Create Growth
By: Graham Summers
GoldSeek.com
Tuesday, 19 January 2016
Last week a Central Banker made the most incredible admission in the history of banking.
It came from the Bank of Japan.
The Bank of Japan has been the leader in global Keynesian insanity. The US Federal Reserve launched its first QE program in 2008. The European Central Bank launched its first QE program in 2015.
The Bank of Japan first launched QE back in 2001.
Since that time the Bank of Japan has implemented QE programs equal to over 50% of Japan’s GDP. This includes its “Shock and Awe” program launched in April 2014: the single largest QE program in history, equal to over 25% of Japan’s GDP.
Suffice to say, Japan and its Central Bankers know more about QE than anyone else in the world. Which is why what happened last week was absolutely incredible.
On Friday, the head of the Bank of Japan, Haruhiko Kuroda stated that Japan has a “potential growth rate of 0.5% or lower.”
The Rest…HERE
