If governments stop all the QE assistance the consequences would be unthinkable.
Extremely inaccurate. Look up every recession before the Federal reserve. Or even the recession of 1920, which was over a year later and was followed by the “roaring twenties”, a period of massive growth and prosperity. The federal reserve caused the recession, but stayed out of the recovery and it lasted only a year, thanks to reduction in government and taxes. That should have been an omen to get rid of central banking, but unfortunately for us, they only got bigger and bolder.
If central banks and Fiat money would go away, most of the world’s problems would disappear. No more printing money by governments would allow the global economy to self correct, which is normal and should be allowed to play out. Life has ups and down, you can’t get rid of the downs without severely distorting the balance, only making the next down a lot worse.
In the US, the government (which includes the private Fed) have been doing this since 2001. Destroying the purchasing power of currency, and creating a global race to the bottom by all the world’s Fiat currencies.
Well, this is bottom. And they have committed to start digging deeper and redefine the bottom. For the sake of all of us, especially our offspring, let’s hope they’ve hit rock and this opportunity is not wasted to get rid of this ridiculous Banking system.