Post
Topic
Board Economics
Re: Are the Central Banks starting to worry about the public's perception?
by
Mauser
on 02/10/2020, 07:58:07 UTC
I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.

https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp200930~169abb1202.en.html

Quote

"We must explain much better to the general public what we are doing and why. Monetary policy can only be credible if we ensure that our goals are truly understood and shared by the people we serve".



The problem with the ECB is that interest rates are so low for 10 years. For many young people it's the only thing they know, cheap money is available everywhere without much collateral and saving money in a bank account is kind of useless. The inflation rate is much higher than any interest you receive from the bank, with the bank fees on top of that you are screwed. The central bank is motivating everyone to go into debt, or at least spend their money today instead of saving it for tomorrow. Japan is in this trap much longer than Europe already with no way out. How is this serving the people? It's not helping us to print money every month.