The use of ultra-low interest rates and bond-buying programs by the world’s major central banks including the ECB, BOJ and the Federal Reserve has pushed the total amount of debt with yields below zero to a record of $13 trillion.
RT’s Keiser Report discusses the issue with Chris Martenson of PeakProsperity.com who says “central bankers are really intellectuals yet idiots.”
They make completely ridiculous statements and are not questioned or challenged at all, according to Martenson.
“They are able to say completely dumb stuff… It’s kind of listen what the king says that he is wearing clothes when he is just totally naked."
The economic researcher told Max Keiser and Stacy Herbert: “You know, it’s just ridiculous that the Federal Reserve can’t just own up to the fact that it is the proud owner of the largest wealth and income gaps in all our history.”
He stressed that $13 trillion of negative yielding debt is “guaranteed losses, it’s not even like you have to wait till infinity to get your returns, you will never get your money back from those.”
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