Financial Crisis: The Printing Presses Set to Roll Again
As the worldwide credit crisis continues, the annual symposium of international central bankers, held annually in late August at Jackson Hole in the Rockies, seems set to signal another round of quantitative easing, i.e. the printing of banknotes that are then used to repay part of the national debt of the individual nations concerned, and thereby stave off financial collapse. Public faith in central banks as guarantors of macro-economic stability has been massively shaken by…