European Central Bank
One day, perhaps, the northern people of Europe will be able to enter into a partnership with the southern people. But, until they come to appreciate each other, they should have an affair instead of a marriage.
The European Central Bank has announced its intention to create out of thin air over one trillion new Euros from March 2015 to September 2016. The rationale, the monetary central planners say, is to prevent price deflation and “stimulate” the European economy into prosperity.
The only problem with their plan is that their concern about “deflation” is a misguided fear, and printing money can never serve as a long-term solution to bring about sustainable economic growth and prosperity
“Gold is money. Everything else is credit.” — John Pierpont Morgan