June 2014: Did the “central banks central bank” just call for a stock-market collapse?

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Don’t look now, but the Bank for International Settlements (BIS), which is often referred to as the “central banks’ central bank”, just advised the world’s central banks to stage a market collapse now rather than later.

For anyone claiming that the many global critics of central banks are a “bunch of doomers”, that argument has now been officially buried, as the world’s premier forum of central bankers just sounded the alarm themselves:

“The risk of normalising too late and too gradually should not be underestimated… The trade-off is now between the risk of bringing forward the downward leg of the cycle and that of suffering a bigger bust later on .”

So what was that about “bringing forward the downward leg of the cycle”?   For anyone who thinks collapses aren’t planned, let’s call that “Exhibit A”.  So much for free markets.  Let’s be clear:  The same forum of the world’s central…

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