A Trip Down The Rabbit Hole Of Money Dropping Helicopters, Followed By Debt Repudiation
KingWorldNews.com
June 09, 2016
Today one of the greats in the business has given King World News permission to share a crucial piece of information with our global audience. This piece takes a trip down the rabbit hole of money dropping helicopters, followed by debt repudiation.
Bill Fleckenstein (King World News) – It is worth noting, however, that today is a bit of a red-letter day in the annals of monetary experimentation because it marks the beginning of Mario Draghi’s and the ECB’s buying of corporate bonds as part of their roughly 80-billion-euro-per-month (i.e., over $90 billion) monetization scheme…
Owe No You Don’t
On that note, I’d like to share something that the Lord of the Dark Matter wrote today on the endgame of all this monetization, as it picks up on a point that I first began discussing in March (see the March 23 column, and May 11), that being debt forgiveness on the part of central banks who have monetized trillions of dollars’ worth of government debt.
It turns out that there is a bit of a struggle going on between the bank unit of Mitsubishi UFJ Financial Group and the Bank of Japan revolving around negative rates. In fact, the president of Mitsubishi has been a very vocal critical of the BOJ’s negative rate policy, saying that it was crimping interest income and fueling anxiety among companies and households, which is probably all true (and certainly understandable).
The Rest…HERE
