Friday, July 23, 2010

The Great Falacy

"Investors should know that the market can render the central bank powerless. For instance, since 1999 Japan’s central bank has been purchasing financial assets with printed money to attempt to pump up their economy. But for ten years this quantitative easing policy has failed to lift Japan’s economy off the mat. Instead central banks’ power is derived from theatrics and sophistry."
Paul J Lamont, Lamont Trading Advisors, Inc

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