FAST FIVE: Russell Napier: Central Banks Have Become Irrelevant
Most investors just look at the narrow money aggregates and central bank balance sheets.
Switzerland will have to do more to avoid getting all these capital inflows.
not central banks, but politicians.
Even the Fed is toying with the idea of Yield Curve Control, an instrument they successfully used between 1942 and 1951, when they capped yields at 2.5%.
I think this is a bad parallel, because from 1942 to 1951, we also had rationing, price controls and credit controls.