TOP BANK ECONOMIST: ‘The Financial System Is Increasingly Being Rigged’
Apr. 25, 2012
Stephen King, the top economist at UK bank HSBC, is out with a new note on the popular topic of “financial repression.”
The main ideas are basically distilled in these bullet points.
>The financial system is increasingly being rigged…
>…via acts of financial repression…
>…as governments look for new ways of funding excessive debts…
In other words, with the governments of big Western nations running up so much debt, they’re resorting to various tricks to keep funding themselves — tricks like QE and so on, which hurt savers, etc.