Quote of the day—Lord Jacob Rothschild

The six months under review have seen central bankers continuing what is surely the greatest experiment in monetary policy in the history of the world.

We are therefore in uncharted waters and it is impossible to predict the unintended consequences of very low interest rates, with some 30 per cent of global government debt at negative yields, combined with quantitative easing on a massive scale.

In times like these, preservation of capital in real terms continues to be as important an objective as any in the management of your company’s assets.

Lord Jacob Rothschild
British investment banker
August 16, 2016
Rothchilds Buying Gold On “Greatest” Money “Experiment” In “History The of World”
[I have nothing to add.—Joe]

3 thoughts on “Quote of the day—Lord Jacob Rothschild

  1. What’s this “unintended” horse crap? That we’re being set up to fail is clear. The idea that it’s “unintended” is part of the problem. It demonstrates that we have no idea what we’re facing, and we’re unable to deal with it properly.

    “Quantitative easing” (counterfeiting so as to affect a whole economy) for example, would have been properly recognized as an act of war only fifty or sixty years ago, and dealt with accordingly. It was in fact used in acts of war. Now we give the certain disastrous results the quaint name of “unintended consequences”. So if your next door neighbor comes over and stabs you repeatedly until you die, your death would likewise be an “unintended consequence” of an “experiment”. If your town were being shelled day and night with high explosive ordnance, we’d have to refer to the inevitable destruction as an “unintended consequence” of an “experiment” in ballistic sociology.

    • 50 or 60 years ago? The Fed was created just over a century ago, for the specific purpose of legalizing counterfeiting and debasing the currency. That’s when the gold standard actually ended; Nixon’s change was a mere formality.

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