Desperation of the banksters ....

it begins to show first in the decisions taken by Central Banks. Case in point, the recent ECB's mad, mad, mad decision which is clearly seen as nothing but pure desperation. 

James E. Miller writing at MisesInstituteCanada:
....Central bankers must be getting desperate. After the futile effort to boost the global economy via synchronized money printing en masse, they are doubling down on the same failed policy. Now it’s no longer enough to produce endless supplies of currency. The little people must be punished for having the gall to try and save their money in their personal bank accounts. Interest rates may be at an extraordinary low point, but it’s time to take them lower.

The control freaks in Europe are leading the charge, with the European Central Bank recently announcing a series of measures to lower the deposit rate of banks from zero to -.01%. That’s right; the ECB plans to charge banks for holding money in its vault. The goal is entice banks to lend money rather than let it sit, parked inside a repository. After all, the ECB is busy buying up government bonds from the same financial institutions with newly created cash. It would be a shame to not push that money forth into the economy. That way, the animal spirits will be given a dose of excitement and will begin consuming at the same rate as before the bust. That’s the theory anyway.

Per usual, the money printing enthusiasts are celebrating the move. James Pethokoukis of the American Enterprise Institute enjoys the “dovish intentions” behind the policy. Bill Gross of PIMCO believes the aggressive action is called for in order to boost price inflation. Major news outlets are describing the ECB’s maneuver as a “negative interest rate policy.” The phrase is being tossed around and called an unprecedented exercise that could have interesting ramifications.

Given that media outlets rarely have a firm grasp on economic principles, it should be asked: is there really such thing as a negative interest rate? Is it really possible to alter the cost of borrowing so that it’s essentially free?

Think again. The economic rule that there is no free lunch still holds true, even in a “negative” interest rate environment. There is no free money. Borrowing money .........