1/ Amazing thread, h/t @MartyBent @parkeralewis.
I want to add that in my prior (relatively shallow) research of monetary policies in history, I’ve seen the seeds of doubt raised within the ranks of the central bankers themselves.https://twitter.com/MartyBent/status/1028366607796592640 …
-
-
5/ Here it is in his own words, an extremely influential central banker: "we have to admit that central banks that have accommodated asset price bubbles *failed to achieve economic stability*" Regardless of what you think of central bankers, admitting this is quite brave!pic.twitter.com/TtBMiL9Uod
Show this thread -
6/ Here he is again, clearly admitting there there is an inherent conflict & something very wrong in the currently accepted monetary policies of the world: "this position is no longer tenable."pic.twitter.com/jsIBKnIPVi
Show this thread -
7/ A tangential point I want to raise is that contrary to popular belief, not all bankers are “evil”. As seen here, some of them are quite capable of seeing their own contradictions. Through logical reasoning & empirical evidences.
Show this thread -
8/ If you were to look at this economic thing objectively, you can say that in earnest some of these central bankers believed what they did was for the best. But now there’s mounting evidence that centrally-managed money might have been a failed experiment.
Show this thread -
9/ Reference for above quotes: https://www.bis.org/publ/bppdf/bispap77e.pdf …
Show this thread
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
