Quantitative easing cause of 'financial repression'
QUANTITATIVE easing from central banks in the US, UK and Europe has adversely affected the global economy and grossly inflated asset prices, according to a leading hedge fund manager.
Crispin Odey, who has a Guernsey office of Odey Asset Management, was the keynote speaker at Guernsey Finance's annual London Funds Forum this year.
A renowned critic of easy money policies, he used the platform to argue the case that quantitative easing had caused 'financial repression on a global scale' and that near-0% interest rates were making economies 'sloppy and weak'.
'As a result we are in a world where no one believes they can hurt themselves. We have become very used to taking the drugs – the relief offered by quantitative-easing measures,' Mr Odey told the 420-strong audience at the event.
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