It Will Take A New Credit And Money System

re posted from                                  LAROUCHEPAC

https://larouchepac.com/20190611/it-will-take-new-credit-and-money-system

It Will Take A New Credit And Money System

June 11, 2019
Foreign Currency Exchange - Photo by epSos.de
Foreign Currency Exchange – Photo by epSos.de
The big central banks continue to beat their way back to the quantitative easing schemes they all used to drag the London and Wall Street banks through the last crash — signalling the approach of another. The Federal Reserve, which after 10 years finally raised its discount rates in 2018, has resumed lowering them; its chair, Jerome Powell, said, don’t regard the bailout measures used in the last crash as “unconventional” — they’re going to be used again. After the European Central Bank supposedly left its discount rate unchanged for a year on June 6, its head, Mario Draghi, spent the days since putting out rumors and leaks that, in reality, its board was discussing interest rate cuts and increased buying up of corporate and sovereign bonds from private banks. The Canadian Central Bank “reluctantly” returned to cutting rates. And so on for the rest.
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