This article was last updated on May 19, 2022
Incremental vision is not served by European Commission president questioning the ability of China (and by implication other emerging countries) for a “culture of a common setting of rules”, of the German Finance Minister enunciating again claims of United States terminal decline, this time from financial debacle or overemphasizing soft targets like eliminating tax havens. Germany and the ECB need only look to post war efforts by Chancellor Adenhauer/Finance Minister Erhard and the Bundesbank to tune empathy and delivery. The next monetary challenge will likely be managing the withdrawal of liquidity but immediately upcoming, we see potential trillion dollar plus toxic asset auctioned spin off under public/private TALF sponsorship in the U.S. as freeing up prices potentially and freeing up of financial capital by massive quantitative easing from the Federal Reserve, from the Bank of Japan, the Bank of England and others including in intent the Swiss National Bank.
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