by Benjamin J. Butler
Central Bankers’ influence everywhere
Almost two years ago I attended a lunch with a well-known Western Central Banker in Hong Kong. One well-intentioned person asked about the impact of continuing the QE policies and whether greater unfairness and social tension was sustainable. The reply somewhat shocked me: he said that from a humanitarian perspective these policies were not ideal and had negative unintended consequences but it was the only effective tool available (pretty normal banker thinking). And besides (the shocking part), nations across the West including Europe knew that they could push things a lot further as Governments would have “no reluctance in getting the water canons out." (Water canons are a police instrument for riot control.)
So it wasn’t really a surprise when London police reportedly ordered more equipment at the end of last year and the US has been militarizing its police force. This week many Americans and ... Log in or subscribe to continue reading.
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