Josh Sigurdson talks with author and economic analyst John Sneisen about the recent desperate move made by the calm and cool Mario Draghi at the ECB as he looks to European governments to “work with” the central bank in order to “benefit” the economy.
Now of course Draghi has acted as though all has been well for a while as the technical recession is papered over. The reality is, Draghi is afraid of the inevitable. He’s looking to government as his term at the ECB comes to an end and Christine Lagarde looks to replace him. He knows the European economy cannot take much more. Interest rates are going negative and all signs point towards an incredible crisis.
Draghi points out that central banks don’t have to be entirely private and can work with European governments. The issue is, they’re already enforced by said governments. The currency wouldn’t be fiat if it wasn’t BY fiat.
The inflation and debt is carried over to the populace and the level of debt is truly astonishing.
In the end, this is a domino effect waiting to happen and it cannot be pushed off too much longer. It has been pushed off long enough already and to see a crisis of this size while at the same time heading into negative interest rates says a lot about the enormous problem on our doorsteps.
Poverty is skyrocketing all while the governments put out faked and manipulated jobs and economic numbers in order to appease people because after all, this is all based on faith and once people realize how wrong this all is, everything will come crashing down.
Stay tuned as we continue to follow this issue closely!