By David Scott | Monday 26 September 2016
Zero Rate Interest Policy is the desperate response of economists in the US Federal Reserve, and central banks / elite Universities around the globe which have hopelessly failed. But rather than acknowledge their collective failure, like all past Emperors of failed Empires toward the end, they have doubled up on failed policies. Negative interest rate policy demands that banks and depositors must pay for the privilege of holding cash. Instead of fixing what's broken, ZIRP and NIRP have pushed a broken system further along the path of self-destruction. A few "professional" economists do understand this, largely the same ones who foretold of 2007/8, but they are being ignored now as then.
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