The troubling truth revealed by the stock market’s nosedive (Part 2)

Fiscal Times/Anthony Mirhaydari/8-24-2015

“Policymakers responded to the financial crisis with easy monetary policy and low interest rates. The critics — including us — argued against ‘solving a debt crisis with more debt.’ Put differently, we said that QE was necessary, but not sufficient for a recovery. We are now coming to the moment of reckoning: central bankers look naked, and markets have nothing else to believe in.”  Alberto Gallo, head of credit research, Royal Bank of Scotland

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