PboC, ECB, Fed and others... Guardian of Money and Causer of Instability

The PBoC is causing the global stock markets to burst as a result of the yuan devaluation, but is blaming the Fed for the global stock market shocks.

Despite the events of the last three weeks, central banks are successfully distracting attention from the fact that they are the biggest generators of instability. The ECB can even announce this week without much headwind that it will expand its bond purchase program.

Please note: This study is available in German only.

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