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(Untitled) Sep 5th 2013, 20:58, by noreply@blogger.com (Cliff Küle) Is the Cult of  Central Bankers Unraveling? Financial Sense essay considers the recent financial market volatility as the first sign investors are starting to doubt the omnipresent powers of central bankers .. "Ben Bernanke says there can be QE tapering without rising interest rates and bond markets revolt against that idea. Similarly, the new Bank of England chief Mark Carney says interest rates will remain low for the next three years and bond yields jump given better economic data and rising inflation." .. why is this important? "This is important because the mother of all bubbles in the modern era hasn't been in subprime, bonds or emerging markets. No, the biggest bubble has been in central banking. It's been a bubble based on faith in central bankers to provide cheap money to smooth out business cycles and prevent serious economic downturns. That faith has been unwavering despite the financial crisis and the tepid recovery since. Until now." .. implications are that central banks will fight to keep interest rates low by printing more & more money. LINK HERE to the essay

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