by Peter Cooper, GoldSeek:
What could revive gold and oil prices from their current cyclical lows? It was quantitative easing that pushed prices up after the last global financial crisis. Is it about to happen all over again?
Central banks in the Western world have set the scene for an ‘even bigger version’ of the 2007-2008 global financial crisis, Societe Generale’s bearish strategist Albert Edwards said in a research note yesterday.
Chinese stock market crash
Mr. Edwards said that China’s intervention to stabilize its volatile stock market was part of a larger global story, in which ‘rock bottom’ interest rates and large fiscal deficits in the western world were pushing the global economy towards a fall.
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