Central bankers make their policy according to prof. Knut Wicksell's theory about interest rate - for us it is "pump and dump" model od economy:
https://mises.org/library/value-capital-and-rent-0
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Central bankers make their policy according to prof. Knut Wicksell's theory about interest rate - for us it is "pump and dump" model od economy:
https://mises.org/library/value-capital-and-rent-0
Of course, interest rates will demolish the economy, but they are a lagging indicator. Interest rates are only going up in response to inflation and a weak dollar. Thus why gold usually does well during rising interest rate cycles. People are buying gold as a hedge against the dollar, interest rate rises are just playing catch up.