Is that? Could it be? A glimmer of hope in the mainstream economic realm? Some sanity from a former Central Banker?
Seems like it. Kurt Schlitknecht, former Chief Economist of the Swiss National Bank, has come out swinging against NIRP. Our boy Simon Lutz was kind enough to summarize the article from (what I assume is) a Swiss newspaper. I recommend you peep the thread when you get a chance.
The reason I'm highlighting this particular story today is because I believe it is imperative to begin signal boosting this type of sanity. For too long, people have allowed themselves to be lulled into a confused state in which they passively standby as the world's Central Banks run amok, now pushing to immediately tax deposits in individuals' bank accounts. This coming from a group of people who have been completely clueless in regards to the implications of their policies. Insanity.
We are on a weird path towards economic calamity paved mostly by the ignorance of the masses, who do not fully understand how money works. It is of the utmost importance that we begin to educate people about how money, one of the most important tools humans utilize, actually works and how Central Banks have lost control (or more likely, never really had full control) of their monetary experiment. I highly recommend you pair this thread from Simon with a podcast I recently recorded with a freak named Parker Lewis, in which we dive into the history of Fed policy over right before and after the '07/'08 financial crisis.
The truth shall set us free, freaks. The first step is noticing and admitting that we have a problem. The next is helping people become more economically literate so they understand the implications of monetary experiments that affect every human on Earth.
Next morning Hookah throat ain't fun.