The astonishing Fed again proved the consistency of its inconsistency. Since its creation in 1913, and especially after WWII, the Fed has always been behind the curve. It is hard to believe that this is just incompetence. The recent change of policy hardly seems to be part of a plan but rather another reaction to events. Looking back at the Fed’s policy decisions, it is clear that virtually all are reactive rather than proactive. Central banks have been totally detrimental to the world economy. They serve no constructive purpose whatsoever. As a matter of fact, they are a menace to the world and actually make things a lot worse than they would be if the laws of nature would rule. The natural rhythm of ebb and flow would regulate markets effortlessly without the need for artificial interference by central banks. If demand for credit is too high, the law of supply and demand would restrict the supply by interest rates going up. And if there was no demand for credit, loa...
from GoldBroker.com https://www.goldbroker.com/news/federal-reserve-the-biggest-short-the-spectacular-long-1510
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