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Jun 7, 2016

GATA | THE GATA DISPATCH - June 7, 2016: Mike Kosares: Former Bank of England Head Joins Greenspan as Gold Advocate

Submitted by cpowell on Tuesday, June 7, 2016By Michael J. Kosares, Centennial, Colorado
Tuesday, June 7, 2016

In "The End of Alchemy," Mervyn King, the former head of the Bank of England, writes of central banks' frustration in dealing with the stagnant global economy. "Central banks," he says, "have thrown everything at their economies, and yet the results have been disappointing, Whatever can be said about the world recovery since the crisis, it has been neither strong, nor sustainable, nor balanced."
Similarly, former International Monetary Fund chief economist Olivier Blanchard was recently quoted in the Financial Times as saying: "And so the question is why is it, that with no fiscal consolidation and banks in decent shape, at least in terms of lending, and zero interest rates, we don't have an enormous demand boom? That is now the puzzle." ...
... For the remainder of the commentary: