by Graham Summers, Gold Seek:
Anyone with even a cursory understanding of human nature knows that if you give someone virtually unlimited power with next to no oversight, they will quickly become despotic.
Consider what is currently happening in Japan.
Two weeks ago, the Bank of Japan shocked the world by increasing its QQE program. True, Japan’s economy was faltering, but that was nothing new. And given that the “shock and awe” QE program of $1.4 trillion announced in 2013 had failed go generate sustained growth, why on earth would the Bank of Japan expect that increasing this would somehow work?
Turns out it didn’t. In fact the whole decision was mainly due to Bank of Japan Governor Haruhiko Kuroda’s ego.
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