Only government action can resolve a global solvency crisis

Article by William White published in the Financial Times on 25 September 2016 - Central banks have recently been engaged in a process of unprecedented monetary experimentation. Unlike scientists developing new drugs or genetic modifications, fear of the unknown has had no moderating influence on their activities. That in itself is very alarming. Moreover, evidence is steadily accumulating that it is dangerous for central banks to keep on doing this. Nor is it possible for them to reverse recent polices to reduce these dangers. Rather, the only way forward is for to governments to accept responsibility for resolving an incipient global solvency crisis.

Link to the article by William White:

Financial Times
25 September, 2016
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