{"id":47988,"date":"2019-08-26T17:02:29","date_gmt":"2019-08-26T22:02:29","guid":{"rendered":"https:\/\/olduvai.ca\/?p=47988"},"modified":"2019-08-26T17:02:33","modified_gmt":"2019-08-26T22:02:33","slug":"things-will-never-be-the-same-again-here-are-20-questions-as-central-banks-admit-defeat","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=47988","title":{"rendered":"“Things Will Never Be The Same Again”: Here Are 20 Questions As Central Banks Admit Defeat"},"content":{"rendered":"\n

“Things Will Never Be The Same Again”: Here Are 20 Questions As Central Banks Admit Defeat<\/a><\/h3>\n\n\n\n

Unlike prior years, there was a distinct sense of dread and powerless foreboding in this year’s Jackson Hole meeting, starting with Jerome Powell’s “boring” speech in which he blamed Trump’s trade war for the Fed’s inability to stimulate the economy, and culminating with Mark Carney unprecedented capitulation<\/a>, effectively admitting that the fiat system has failed and the dollar can no longer be the world’s reserve currency (instead punting that obligation to ‘global central banker’<\/em> Mark Zuckerberg and his Libracoin).<\/p>\n\n\n\n

Indeed, as even the FT concludes<\/a>, “there was a sense that things will never be the same again<\/strong>.”<\/p>\n\n\n\n

In its summary of this week’s Wyoming outing, the FT also wrote that “the developed world had experienced a \u201cregime shift\u201d in economic conditions, James Bullard, president of the St Louis Federal Reserve, told the Financial Times.<\/p>\n\n\n\n

“Something is going on, and that\u2019s causing I think a total rethink of central banking and all our cherished notions about what we think we\u2019re doing,”\u00a0<\/strong>Bullard admitted.\u00a0“We just have to stop thinking that next year things are going to be normal…\u00a0<\/strong>They\u2019ve priced in that there\u2019s going to be uncertainty, there are going to be tweets, there are going to be threats and counter-threats,\u201d said the St Louis Fed president. “And that\u2019s the way it\u2019s going to be.”<\/p>\n\n\n\n

And as the FT further admits, “interest rates are not going back up anytime soon, the role of the dollar is under scrutiny both as a haven asset and as a medium of exchange, and trade uncertainty has become a permanent feature of policymaking.”<\/em><\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

“Things Will Never Be The Same Again”: Here Are 20 Questions As Central Banks Admit Defeat Unlike prior years, there was a distinct sense of dread and powerless foreboding in this year’s Jackson Hole meeting, starting with Jerome Powell’s “boring” speech in which he blamed Trump’s trade war for the Fed’s inability to stimulate the […]<\/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":[124,303,995,5482,4318],"class_list":["post-47988","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-fed","tag-mark-carney","tag-world-reserve-currency","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47988","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=47988"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47988\/revisions"}],"predecessor-version":[{"id":47989,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47988\/revisions\/47989"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}