Neil Macdonald: The 'monarchs of money' and the war on savers (quantatative easing)
Neil Macdonald: The 'monarchs of money' and the war on savers
by Neil Macdonald at CBC News
http://www.cbc.ca/news/world/story/2013/04/26/f-rfa-macdonald-power-shift-savers.html?autoplay=true
"SNIP..............................
Since the great economic meltdown in 2008, these central bankers have probably saved the world's economy from collapse, and dragged it into the unknown at the same time.
The amounts they have created are so vast as to be almost incomprehensible trillions of dollars in pounds and euros, among other currencies.
At the end of 2012, the balance sheets of the world's largest central banks, those of the G20 nations and the eurozone, including Sweden and Switzerland, totalled $17.4 trillion US, according to Bank of Canada calculations from publicly available data.
........
When the record of the 2008 global financial catastrophe is fully written that story remains a work in progress the world's central bankers will emerge either as heroes, or as the people who administered a cure that turned out to be as bad as the disease.
............................SNIP"