CBO Issues Dire Forecast for US Debt
The US Congressional Budget Office is warning that the federal deficit has hit a point of no return. It is far too late to cut wasteful government spending. Politicians have [...]
World of Central Banks
QUESTION: Hello,
you said central bankers attend your conference and it means they know what’s coming.
I guess they talk to governments and I wonder if governments will tell people what’s
coming or they will pretend everything is fine until everyone ‘lose shirt’?
MM
ANSWER: No. Just about every intelligence agency also tunes in. That does NOT mean they listen and do what we advise. They just want to know what we are saying. I was surprised that one central bank openly admitted who they were. They all want to know what is happening, but are not necessarily capable of acting. I do meet directly with some central banks because they know we are global and they need that perspective. When it comes crashing down, we will most likely get the call as it seems we always do. But that does not mean we can fix anything, and at best, getting a call in the middle of a collapse is not ideal, to say the least.
They will always tune in because we are not the lunatic fringe but have substantial clients globally. We have a track record and meet with central banks from Asia to the Middle East. They know we understand the game. This is not about conspiracy theories or crazy proposals. They know we are international and have a wealth of contacts.
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