Structural Failure and QE and ZIRP

If the world’s central bankers are successful in pursuit of their short-term goals by the use of Quantitative Easing (QE) and Zero Interest Rate Policy (ZIRP) -- winning the race to the bottom in currency devaluation to the cheers of economically dogmatic, faux-literate media -- these bankers can’t then avoid being failures over the intermediate and longer terms in the race to attract productive, job creating investment. This appeared on April 10 in Global central banks cut their euro holdings by the most on record last year to help mitigate losses ahead of the European Central Bank's (ECB) QE. The euro now accounts for just 22% of global reserves, down from 28% before the EU's debt crisis five years ago, according to the International Monetary Fund (IMF). "As a reserve currency, the euro is falling apart," says SocGen's Daniel Fermon. The numbers may be music to (ECB Chairman) Mario Draghi's...(Read Full Post)