• chris1634

Quantitative Easing - a financial "drug"?

I wrote recently regarding the 10 year anniversary of the last financial crisis and that, in the opinion of certain economists, the next one is just around the corner.

One of the measures used last time, to restore order, was for the world's banks to print money -out of thin air - which created the illusion of recovery but which in reality increased global debt massively. With this debt now three times more than global output, and with interest rates rising [ the current falls in equity markets evidence of a change in lending strategy ] which is the cost of servicing this debt, it is almost inevitable that the next crash is already beginning.

American isolationism, BREXIT doom and gloom, Chinese expansionism and Russian aggression - all the ingredients of the perfect storm.

The UK Government proudly announced at the Conservative Party Conference that austerity is at an end. Well, that's good news then!

Trillions of dollars have been printed - fiat cash - earning commission for Central Government -but potentially ruining the lives of the poorest. Meanwhile, the richest - who own 90% of the world's wealth - continue to add to their coffers.

It seems to this writer that, just perhaps, money or currency cannot be trusted to Government's and banks as there is too much of a conflict of interest.

Re-election and self interest are two issues which spring to mind. Ministers lecture us on subjects they have absolutely no experience of. I actually heard a Minister state on national TV last night that the much dreaded Universal Credit will result in some families receiving less than they receive now. The Minister seemed largely unconcerned.

Banks are only interested in profit and continue to fail to protect us against fraud, but spend fortunes on feel good adverts suggesting that they are there for us, for our journey.

Our charges are being well spent.

In 2008 a group of intelligent, fed up citizens, decided enough was enough. They began a money revolution which, 10 years on, is gathering pace. A revolution which is passing the control of money to those who are most affected by it. The people. You and I.

The great inventor Sir Tim Berners-Lee has recently spoken about his great frustration at how his wonderful invention has been "centralised" - control passed to a few huge organisations. He is working on a new project - an internet 2.0 which will be for the people, where big interest cannot take over, where we all will benefit. Sounds to me like he is creating his own Blockchain.

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