Chairman Ben S. Bernanke At the Ceremony Commemorating the Centennial of the Federal Reserve Act, Washington, D.C. December 16, 2013 Concluding Remarks “I have been asked to close this ceremony marking the 100th anniversary of the signing of the Federal Reserve Act–the law that created the Federal Reserve–by looking ahead to the next century. Given the […]

Can the World Really Abandon the Dollar As A Reserve Currency? By Martin Armstrong Throughout history there has always been a dominant currency. As each empire became the new financial capital of the world, their currency became the most prized and tended to circulate around the globe into even the fringe economies that they may […]

This special report is a detailed review of the greatest crisis facing us - that of the collapse of central banks. Europe moved to negative rates back in 2014. They have been unable to raise rates and there is now about $12 trillion in negative bonds. With the Federal Reserve now moving to zero, they too are undermining the world economy. The Keynesian Model which is based on the Quantity Theory of Money has stood behind central bank policies and the theories of the goldbugs who always tout the death of the dollar. The champion of that view was Bridgewater whose founder Ray Dalio just proclaimed that "cash was trash" at the January World Economic Forum. So many people tout gold but fail to look around the world at what is the brewing crisis.

First, we must crash and burn. That will only push the dollar higher. The Federal Reserve has now cut rates to zero and it will risk the realization that it cannot prevent the economic decline. When people realize that the Fed is also incapable of managing the economy, this is when the crisis begins. Welcome to the Central Bank Crisis which is the start of everything and will dwarf everything else for we are looking at the end of Keynesian Economics.

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