The central banking endgame is approaching

We are now approaching the endgame, and things are changing. We are now squarely in the middle of a crisis of confidence, but crucially this is the big one - it's a crisis of confidence concerning the functioning of central banks and the entire fiat monetary system. The markets are now questioning the ability of central banks to be able to help the world out of the funk it has sat in for nigh on a decade. The market is moving rapidly towards believing that the big developed market central banks can’t do anything more than they already have to defeat the inevitable slow growth and low inflation environment, which is a symptom of too much debt, poor demographic trends, technological change and worsening wealth inequality. We believe the current monetary programmes from the ECB or the BoJ will be useless in driving real demand higher and therefore their economies to a self-sustaining level. Read Vimal Gor's monthly letter: (VIEW LINK)