Kenneth Rogoff is a Professor of Economics at Harvard
University. Prior to that, from 2001 – 2003 Rogoff served as Chief Economist
and Director of Research for the International Monetary Fund. For many readers,
that will be more than enough information to conclude that Rogoff is a
prostitute for the oligarchs.
Kenneth Rogoff likes
negative interest rates. What does he have to say about anyone who criticizes a
policy which allows borrowers to steal from lenders and economically devastates
senior citizens as well as all other individuals on fixed incomes? He says they
are “ignorant”. Yes, what’s not to like about negative interest rates?
What does Rogoff have to say to critics of this economic
insanity who point out that apart from all of the obvious arguments against
negative interest rates that there is absolutely no evidence of any kind that
it has accomplished anything positive? Rogoff whines that this is because we
haven’t pursued this insanity for a long enough period of time (nor with
Yes. This is what they said in Japan after 10 years of
having a 0% interest rate had failed to produce any economic improvement. And
it’s what they said in Japan after 20 years of having a 0% interest rate failed
to produce any economic improvement. And it’s what they continue to say after
30 years of a 0% interest rate has failed to produce any economic improvement.
Just a little bit longer…
How does Rogoff defend his interest rate policy, given that
a 0% interest rate is already
a fraud, while negative interest rates represent naked criminality? Rogoff is a banker, and so he doesn’t understand the question
– since bankers consider fraud and crime to be
away of life when it comes to our finances.
Then, in the same Bloomberg article, Rogoff eliminates any pretense that he serves the interests of
anyone other than the oligarch
Puppet Masters. Rogoff claims that the reason why negative interest rates haven’t
yielded any of the benefits touted by prostitutes like himself is because our
governments haven’t gone far enough.
do it correctly, you have to make legal, tax, institutional changes,” he said.
“And second, you need to be able to
whatever it takes
.” Unlike current efforts, a successful implementation of
negative rate policies would “
the whole government
.” [emphasis mine]
Consider those words.
First of all, so-called “negative” interest rates are a
blatantly criminal act. Secondly, in the six years now since negative interest
rates were originally introduced, there has been no evidence of any kind that
this policy has had any kind of beneficial effect. This is much the same as how
after seven years of ramming “Austerity” down the throats of European nations,
not one of those nations has seen any strengthening of their economies, and all
further deterioration. And (as already mentioned) 30 years of 0% interest rates in
Japan have yet to produce the slightest benefit.
The definition of insanity is doing something over and over again and
expecting a different result.
When you try something for six years and it doesn’t work,
that is not a reason to engage in
of that failed policy. It’s conclusive evidence that it is time to
abandon that policy.
Kenneth Rogoff believes that we should turn our entire
societies upside down in the Quixotic quest to (supposedly) transform negative
interest rates into a successful policy. We should “involve the whole
government” and “do whatever it takes” to try to
justify a crime.
Is Kenneth Rogoff insane? No, he is a fascist, a lackey of
Crime Syndicate which rules over us. He mindlessly obeys and parrots all of his
Masters’ commands. The oligarchs want “negative” interest rates, as an even
more overtly criminal form of economic oppression, and Kenneth Rogoff is
prepared to do literally anything and everything to please his Masters –
including insulting anyone who dares to disagree with him.
However, this isn’t even the most disturbing and disgusting
aspect of Rogoff’s rant. What is the
which we will supposedly receive if fascists like Rogoff get their way with
negative interest rates?
Regular readers already know all about inflation: economic cancer, and the oligarchs’ most potent tool for systemically robbing from the
masses. How far detached from reality (and humanity) is Rogoff, high up in his
ivory tower, as he licks the boots of his banker Overlords?
Rogoff tells us that we are supposed to want to be robbed by
the bankers through negative interest rates so that we can be rewarded by being
robbed even more by the bankers from inflation.
In the absence of the gold standard, there is no way to protect savings
from confiscation through inflation.
Alan Greenpan, 1966
Sir Alan Greenspan is a lackey for the Crime Syndicate,
ranking at least an echelon above the lowly Rogoff. But Greenspan blurted out
the previous truth
before he became
one of the bankers’ foot soldiers. Greenspan explained the crime of inflation
back when he naively believed that the Poor were going to use the
money-printing crime of inflation to steal from the Rich, rather than the other
way around. Yes, History is loaded with examples of the Peasants using banking
to rob from the Rich.
What is Rogoff really seeking to impose upon the people on
behalf of his Masters, as he demands that we accept one form of systemic crime
(negative interest rates) in order to be victimized to an even greater degree
by another form of systemic crime (inflation)? Economic slavery.
In the eyes of despicable lackeys such as Rogoff, we are
supposed to do nothing except meekly submit to having the hard-earned fruits of
our labours systemically stolen from us by the Ultra Wealthy, in perpetuity.
And if we’re not willing to enthusiastically submit to this institutionalized
penury, this means that
Note what this also says about the Corporate media. Once
upon a time, people such as Rogoff would not have dared to utter such asinine
thoughts unless they were completely witless. Because if one did utter such
elitist tripe, there would be a reaction – either complete outrage or simple
Lackeys such as Rogoff can now spout the most outrageous
nonsense and lies on behalf of their Masters because the mainstream media is
nothing but a propaganda megaphone. If there were even tiny components of
legitimacy within the Corporate media oligopoly, pathetic stooges like Rogoff
would be “outed” for what they really represent.
Note also what rants like this say about us. Think about the
level of contempt and scorn that fascists like Rogoff and his Masters have for
the Little People to even dare to arrogantly demand that we submit to more of
their systemic crimes. Societies of citizens would not tolerate such outrageous
But we are no longer citizens, we are serfs. We did nothing
as the oligarchs and their lackeys in our governments imposed
mass unemployment upon us, giving away tens of millions of our jobs, simply
because it allowed the
corporate fronts of these oligarchs to plunder even greater profits from the global
We did nothing as the oligarchs imposed mass poverty upon us. And we’re doing nothing as the oligarchs impose mass
homelessness upon. We sit back and do nothing as the oligarchs steal the jobs
and the homes and the
lives of our
neighbours, because we would rather sit back and watch the oligarchs get
fatter and fatter and fatter than to get off our asses and protest these endless
Who has lost more of their humanity? The oligarchs? Their
lackeys? Or us?
Jeff Nielson is co-founder and managing partner of Bullion Bulls Canada; a website which provides precious metals commentary, economic analysis, and mining information to readers and investors. Jeff originally came to the precious metals sector as an investor around the middle of last decade, but with a background in economics and law, he soon decided this was where he wanted to make the focus of his career. His website is www.bullionbullscanada.com.
The views and opinions expressed in this material are those of the author as of the publication date, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.