![]() ![]() ![]() “Before the great depression of the early 1930s, central banks and governments saw their role as stabilising the financial system and balancing the budget.“Confidence in paper money rests on the ability and willingness of governments not to abuse their power to print money”.“The role of central banks is extremely simple: to ensure that the right amount of money is created in both good times and bad times”.Whenever we write in italics, we’re quoting him (we would not be able to come up with those insights, unfortunately, but that you already know). The book covers much more ground than what we discuss in this piece, but we purposefully focused on a small section of the book given the current macroeconomic landscape. Having recently read Lord Mervyn King’s book, The End of Alchemy, we thought it would make sense to share some of his ideas given the relevance of his thinking. “The End of Alchemy: Money, Banking, and Future of the Global Economy”īy Lord Mervin King, Former Governor of the Bank of England ![]()
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