{"id":2648,"date":"2014-12-08T07:55:07","date_gmt":"2014-12-08T12:55:07","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2648"},"modified":"2014-12-08T07:55:07","modified_gmt":"2014-12-08T12:55:07","slug":"even-the-bis-is-shocked-at-how-broken-markets-have-become-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2648","title":{"rendered":"Even The BIS Is Shocked At How Broken Markets Have Become | Zero Hedge"},"content":{"rendered":"<p><a href=\"http:\/\/www.zerohedge.com\/news\/2014-12-07\/even-bis-shocked-how-broken-markets-have-become\">Even The BIS Is Shocked At How Broken Markets Have Become | Zero Hedge<\/a>.<\/p>\n<p style=\"margin-top: 0.25em; margin-bottom: 0.75em; display: block;\">Not a quarter passes without the Bank of International Settlements (BIS) aka central banks&#8217; central bank (also the locus of some of the most aggressive manipulation of gold and FX\u00a0<a style=\"text-decoration: none; color: #1e439a;\" href=\"http:\/\/www.zerohedge.com\/news\/2012-12-28\/fleecebook-meet-benoit-gilson-head-foreign-exchange-gold-bis\">in human history<\/a>) reiterating a dire warning about the fire and brimstone that is about to be unleashed upon the global economy.<\/p>\n<p style=\"margin-top: 0.25em; margin-bottom: 0.75em; display: block;\">It started in\u00a0<a style=\"text-decoration: none; color: #1e439a;\" href=\"http:\/\/www.zerohedge.com\/news\/2013-06-23\/bank-international-settlements-warns-monetary-kool-aid-party-over\">June of 2013<\/a>, when Jaime Caruana, certainly the most prominent doom and gloomer at the BIS (who also was Governor of the Bank of Spain from 2000 to 2007\u00a0<a style=\"text-decoration: none; color: #1e439a;\" href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user5\/imageroot\/2014\/12\/20141207_spaindebt.jpg\">when this happened<\/a>) asked if &#8220;central banks [can] now really do \u201cwhatever it takes\u201d? As each day goes by, it seems less and less likely&#8230; [seven] years have passed since the eruption of the global financial crisis,\u00a0<strong>yet robust, self-sustaining, well balanced growth still eludes the global economy<\/strong>&#8230;. low-interest policies have made it easy for the private sector to postpone deleveraging, easy for the government to finance deficits,\u00a0<strong>and easy for the authorities to delay needed reforms in the real economy and in the financial system.<\/strong>\u00a0Overindebtedness is one of the major barriers on the path to growth after a financial crisis.\u00a0<strong>Borrowing more year after year is not the cure&#8230;in some places it may be difficult to avoid an overall reduction in accommodation because some policies have clearly hit their limits.<\/strong>&#8220;<\/p>\n<p style=\"margin-top: 0.25em; margin-bottom: 0.75em; display: block;\">The BIS&#8217; preaching did not end there, and hit a new\u00a0<a style=\"text-decoration: none; color: #1e439a;\" href=\"http:\/\/www.zerohedge.com\/news\/2014-06-29\/bis-slams-market-euphoria-finds-puzzling-disconnect-between-economy-and-market\">crescendo in June of 2014<\/a>, when in its 84th Annual Report, the BIS slammed &#8220;Market Euphoria&#8221;, and found a &#8220;Puzzling Disconnect&#8221; between the economy and the market&#8221;:<\/p>\n<p style=\"margin-top: 0.25em; margin-bottom: 0.75em; display: block;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even The BIS Is Shocked At How Broken Markets Have Become | Zero Hedge. Not a quarter passes without the Bank of International Settlements (BIS) aka central banks&#8217; central bank (also the locus of some of the most aggressive manipulation of gold and FX\u00a0in human history) reiterating a dire warning about the fire and brimstone [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1764,1269,124,366],"class_list":["post-2648","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-international-settlements","tag-bis","tag-central-banks","tag-global-economy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2648"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2648\/revisions"}],"predecessor-version":[{"id":2649,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2648\/revisions\/2649"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}