The really crazy, radical experiment in money, isn't Bitcoin..

In the last six years there has been an absolutely radical experiment in money, and that is, that in the first time in history, central banks took interest rates to zero.

And it wasn't just one of them, even though it was unprecedented, but 21 central banks have taken the interest rates to zero. Left it there for 6 years. And cannot raise it again, because if they raised it a tiny bit.. the entire economy would collapse.

This has never happened before.

It's the most radical monetary policy experiment since the introduction of central banking in the 1920's. We don't know how it will end But in most likelyhood it will not end well..

In monetary terms what we have done at this point, is like giving someone, giving the economy, an intravenous cocaine drip on full blast. For 6 years.

And at some point there is going to be a hangover. And it is going to be brutal, because now the patient is barely awake on a full drip of cocaine.

And we are running out of cocaine..

submitted by /u/unchima
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Source and link to Reddit topic: 6 year old Andreas A. quote

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