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Alasdair Macleod: Welcome to the world of ZIRP zombies
12:05p ET Thursday, August 13, 2015
Dear Friend of GATA and Gold:
GoldMoney research chief Alaadair Macleod writes today that central banks are about to discover that zero interest rates don't revive the real economy but only put it in grave danger as the policy is reversed.
Macleod writes: "Normalising interest rates could generate a stock market collapse, risk setting off an avalanche of bankruptcies from overleveraged businesses, and make government finances wholly untenable. Higher interest rates risk triggering a second financial crisis that could also undermine currencies, pushing up price inflation. While macroeconomic theories can be faulted on the basis of outcomes, there is little doubt the systemic threat from a trend of rising interest rates is very real."
His commentary is headlined "Welcome to the World of ZIRP Zombies" and it's posted at GoldMoney here:
https://www.goldmoney.com/research/analysis/welcome-to-the-world-of-zirp...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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