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Steen Jakobsen: Things Are About To Take A Different Turn In 2015

by Claudio Grass, Gold Silver Worlds:

This article is based on an interview conducted by Claudio Grass, the Managing Director of Global Gold based in Switzerland, with Mr. Steen Jakobsen. Mr. Jakobsen is the Chief Economist and Chief Investment Officer at Saxo Bank, where he has served for a total of 14 years, including two years where he left to act as Chief Investment officer of Limus Capital. He is a renowned economist and trader with more than 25 years of experience in the fields of proprietary trading and alternative investment. The topics covered in the interview range from monetary policy to business cycles and precious metals. This is the full interview in Q&A format.

Current monetary policy has made the public more aware and more critical of Policymakers

Mr. Jakobsen previously described the western central banks’ policies of quantitative easing (QE) as “unconventional”. He has always made an analogy that doing quantitative easing and easy monetary policy is like breaking your arm: putting a cast on it protects the arm from further damage, but keeping the cast in place for 5 years results in a loss of 90% of muscle power which is exactly what quantitative easing does to the economy. He points out that there is no empirical or practical indication of any link between low interest rates and easy monetary policy and the ability to regenerate growth.

Read More @ GoldSilverWorlds.com

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