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Source: PaulCraigRoberts.org

Democracy Is A Front For Central Bank Rule

Paul Craig Roberts

Several years ago when the Federal Reserve had its Fed funds rate at zero to 25 basis points (one-quarter of one percent—0.25%), there was a great deal of talk, somehow presented as urgent, whether the Federal Reserve would raise interest rates.

RT asked me if the Fed was going to raise interest rates. I answered that the purpose of low interest rates was to restore the solvency of the balance sheets of the “banks too big to fail” by raising debt prices. The lower the interest rate, the higher the prices
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