Monday, January 12, 2015

Marc Faber surprised at amount of Central Banks power

Janet Yellen is the chief of Federal Reserve
I believe that central banks today have much too much power. Basically central banks are run by bureaucrats, mostly academics. They have studied at nice universities and so forth, they crunch numbers. 

99 percent never worked in the private sector. And to these people you give the largest authority to run the world - monetary policies. That I will never understand.