By Jeremy Warner The Telegraph, London Monday, July 21, 2014
http://www.telegraph.co.uk/finance/comment/je...81011/Have-c...
The best way to destroy the capitalist system, the Russian revolutionary leader Vladimir Lenin is reputed to have said, is to debauch the currency.
The world's major central banks have certainly been having a fair old go at it. In the six years since the financial crisis first broke, they've been printing money like there is no tomorrow.
Fortunately, they have not yet managed to bring down the free-market system. On the other hand, they have succeeded in putting a rocket under asset prices and, in so doing, they have greatly exaggerated the wealth divide.
