Chart usGOLD   Chart usSILVER  
 
Food for thought
The lottery, is a tax on people who can't do math
Anonymous  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1230.900.34
Silver 17.17-0.02
Platinum 1243.50-2.00
Palladium 776.00-2.75
WORLD MARKETS
DOWJONES 16805128
NASDAQ 448431
NIKKEI 15292153
ASX 539929
CAC 40 4129-29
DAX 8988-60
HUI 184-1
XAU 760
CURRENCIES (€)
AUS $ 1.4416
CAN $ 1.4227
US $ 1.2669
GBP (£) 0.7875
Sw Fr 1.2059
YEN 137.0400
CURRENCIES ($)
AUS $ 1.1382
CAN $ 1.1230
Euro 0.7893
GBP (£) 0.6217
Sw Fr 0.9518
YEN 108.1000
RATIOS & INDEXES
Gold / Silver71.69
Gold / Oil15.17
Dowjones / Gold13.65
COMMODITIES
Copper 3.060.01
WTI Oil 81.14-0.61
Nat. Gas 3.60-0.02
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
In the same category
Politicians Put Eggs in Central Bank Basket – Big Mistake
Published : December 18th, 2012
309 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

This WSJ column($) offers a timely warning (alternate link here) for elected officials around the world who continue to think that many of the world’s financial woes can be solved by central bankers. Politicians remain oblivious to the refrain heard outside of government and financial centers that past actions of central bankers are responsible for at least a share of our current troubles and that’s not really a good thing.

Excessive praise for central bankers from politicians is rarely a healthy sign. The whole point of making these guardians of monetary policy independent was so that they could be a restraint on the inflationary tendencies of politicians.

 


 

So when the U.K. Treasury referred to Mark Carney last week as “the outstanding central banker of his generation” —before the Bank of Canada chief has even taken up his new post as Governor of the Bank of England—alarm bells rang in some quarters of the City of London.

After all, politicians used to say similar things about the Federal Reserve’s Alan Greenspan until his reputation collapsed along with the global economy. These days, it’s his predecessor, Paul Volcker, who stood up to politicians as he stamped out inflation in the 1980s, whose reputation now stands tall.

For investors, the relationship between politicians and central bankers has never been more important amid concerns that central bankers, egged on by politicians, are engaged in a race to the bottom in taking ever-more aggressive money-printing actions

The “race to the bottom” characterization is spot on. It’s so much easier for central banks to print money and monetize the debt (this effort soon to transform into debt cancellation, or, my favorite, debt “jubilee”) than it is to deal with the problem of democratically elected governments making promises and then finding out they really can’t deliver on those promises because there just isn’t enough money.

 

 

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All
Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Tim Iacono
All articles by
Tim Iacono
Next article by
Tim Iacono
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Tim Iacono

Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
Tim Iacono ArchiveWebsiteSubscribe to his services
Most recent articles by Tim Iacono
10/22/2014
10/21/2014
10/21/2014
10/20/2014
10/20/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer