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The Financial Repression AuthorityTM

A Joint Initiative of Gordon T and

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Last Update:  Monday 10/6/14 5:10 AM




  • People should be worried about their pensions,
  • People should be worried about the Fed's Repo market and primary dealer delivery failures. This will likely be the cause of the next crash. Money Managers are playing musical chairs every quarter to keep this game going.
  • People should be concerned about liquidity seizures which need to be closely monitored as money managers currently scramble for collateral.
  • "Collateral through Rehypothecation has been pledged and pledged, over and over again.... the average person is going to extraordinarily shocked by something they never saw coming because it is something that is hard to explain and hard to understand"

Click to Enlarge


Douglas E. French discusses



"The biggest bubble we have is US Treasuries. The believe you can't get hurt is a quality you always see in a bubble. The idea that lending an entity, that is $17T and going to $18T and beyond in debt, and will never be able to pay that back and the idea that you will get 2.5% for 10 years and it is 'return free risk' is certainly bubble territory!"


“You have PhD’s at the Fed trying to create economic growth with inflation and low rates. The repression is that people like you and I won’t ever be able to retire because we won't be able to get any return on our money so we can prop up the government and keep it in business."

This is the overall Macro Strategy of the government but central planning has never worked! ..... They are essentially trying to print their way out of a jam! ....... Because of Financial Repression almost ¾ Trillion dollars has gone to the government that should be in private hands!!!"









Mike (Mish) Shedlock talks








Origins of The Term

"Financial Repression"

Financial repression is a term introduced in 1973 by Stanford economists Edward S. Shaw & Ronald I. McKinnon & refers to the collction of economic policies, regulations & capital controls imposed by governments & central banks to facilitate public-sector deleveraging .. Allianz: "Today, with countries across the developed world entangled in debt, financial repression offers a roadmap to fiscal stability and a strong incentive for market intervention. But there are costs. Government intervention can produce market distortions—including today’s artificially low interest rates. In an environment of even moderate inflation, these low rates can result in negative real investment returns. That is why we believe it is critical for investors to understand how financial repression works, why governments choose to use it and what tools are best-suited to protect assets and purchasing power."

LINK HERE to the article




Financial Repression of Interest Rates

Will Wreck The Economy

Bill Bonner explains why financial repression of interest rates will, without question, wreck the economy ..  "Anything is possible in a NIRP (negative-interest-rate policy) world .. When central banks are resorting to negative interest rates, as the ECB did recently, everything goes topsy-turvy. A trillion dollars here… a trillion there. Pretty soon we’re talking about the end of the world as we have known it .. In Neverland, things are never what they seem. And we never know what they should be. Real prices are not set. They are discovered. Every minute. Every day. We know that today’s interest rates are not exactly on the level. But we don’t know how far off they are. Because the process of discovery has been perverted .. The interest rate you will pay depends on who you are. If you are a well-connected financial insider—say, a member of the Federal Reserve’s banking cartel—you can borrow from the Fed at 0.25% a year .. As Irish-French economist Richard Cantillon observed in the 18th century, when they are handing out free money, it pays to be in the front of the line. That’s because as more dollars are created, each one translates to a smaller slice of all goods and services produced. So expansionary monetary policies constitute a transfer of purchasing power away from those who hold old money to those who get new money."

LINK HERE to the article



Owner trades Pro Bowler Logan Mankins (2nd highest player on team)

Fans in shock & disbelief - Team paralysed - Sports writers say it makes absolutely no sense?

~Now 15M under Salary Gap

"The Patriots only pay to stay a contender - nothing more - damn the fans!"


The Rich get Richer


Right in front of our adoring, preoccupied eyes!




Investing in Financial Repression

& Unorthodox Policies

Article highlights the challenges of investing in today's abnormal environment characterized by financial repression & unorthodox policies of record low interest rates & money printing.

LINK HERE to the article



Taped Conversations Between Carmen Segarra & Goldman Sachs



47.5 Hours of Taped Proof the Financial Regulators are No Longer Regulating


The Wolves now guard the hen house - The full ProPublica story can be found here.

Sad Tale of the New York Fed and Goldman Sachs Has a Simple Solution 09-27-14 TheDailyBellCorporate largeness inevitably generates government partnerships. This means that modern Western societies are mercantilist – run by a handful of individuals who circulate between the top posts of government and the leadership of private-sector multinationals. Within this context it is not surprising to find that the New York Fed is an ineffective regulator of the financial powerhouse Goldman Sachs. The process is called "regulatory capture".

  1. Monopoly central banking concentrates decisions on the value and volume of money in the hands of a few.
  2. Corporate personhood allows individuals running large companies to avoid responsibility for their actions.
  3. I suppose I should add a third element into the mix ... patent law and copyright

The Secret Goldman Sachs Tapes 09-26-14 Michael Lewis Bloomberg

And for those who are time-constrained, and would rather just read the Cliff Notes (the ending should be known to everyone by now), here is Michael Lewis with an op-ed in Bloomberg summarizing the banker-controlled farce the entire US system has devolved to: "The Secret Goldman Sachs Tapes"




Inflation and Financial Repression

Are Eating Away Assets And Wealth

FT Adviser essay considers the factors influencing the financial markets & wealth preservation .. low interest rates have driven investors away from bonds to speculate in stocks in which both the risks & potential rewards are higher .. emphasizes the negative effects of inflation & low interest rates on investments .. "Bonds are nominal assets rather than real assets, so they do not grow their income in order to counter inflation. This fact, along with the prospect of interest rates rising to counter higher expected inflation, will be on investors’ minds. Once investors have moved to high-yield bonds, the step up the risk curve to equities is no longer a million miles away – the advantage being that equities are real assets, and so may be expected to grow in line with, or even ahead of, inflation." .. highlights the effects of financial repression on keeping interest rates close to 0 to stimulate the economy .. 

LINK HERE to the article




China's Financial Repression and

Alibaba's Finance Plans

Forbes posted essay on the emerging clash between the plans of Alibaba to develop their financial offerings in China & the Chinese state policy of financial repression .. Alibaba’s plans are to expand their offerings in the financial sector include offering loans at 5.5% .. China has a deliberate policy of financial repression forces savers to buy property, buy life insurance or deposit money into a bank account . the savings deposit rates are very low, typically 1% .. inflation is higher than that, so depositors are losing money by depositing .. "Financial repression is not bullying people into giving you their money, it’s restricting options so that interest rates stay low. And as I say this is a deliberate public policy in China, to ensure that interest rates do stay low by limiting those savings options .. All of which makes this a most interesting little scenario. The current financial repression means that if Alibaba is able to continue with its plans then it will have a very successful product on its hands. But of course, there are those who benefit from the current repression and will they allow them to continue? In the long run the end of those limitations upon how the Chinese may save will benefit everyone. And they’ll almost certainly happen as well, in that long run. The question is going to be well, what happens in the short term?"

LINK HERE to the article




Gordon T Long: Financial Repression Killing Middle Class & Capitalism Itself

WallStrForMainStr Interviews Gordon T Long:

"We have over 250 interviews with top guests in discussion. The Gordon T Long discussion is over an hour long and one of the best ones we've done all year."











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  • “Redemption Gates” for Money Market Funds Acting Man -- ""The adoption of 'redemption gates' effectively means that money market fund boards will be able to suspend the property rights of their customers. Once again, this creates a big disadvantage for the money market fund industry in favor of banks, since demand deposits will continue to lack such 'redemption gates', in spite of the fact that banks are de facto unable to actually pay out all demand deposits, or even a large portion of them, 'on demand'. It is an interesting detail that retail customers are to be exempt from this regulation based on the idea that they are basically too addled to react to crisis conditions. Why are such regulations held to be required at all? Are regulators implying that the system has not been 'made safe' by adopting several telephone book-sized tomes of additional regulations?""
  • SEC Votes Through Money Market Exit Gates Zero Hedge -- the SEC has adopted the news rules designed to curb the risk of money market investor runs .. "Among the changes, funds will have to switch to a floating share price instead of the current $1/share (hence the term breaking the buck). But the key part: 'The SEC's rule will require prime money market funds to move from a stable $1 per share net asset value, to a floating NAV. It also will let fund boards lower redemption 'gates' and fees in times of market stress." .. suggests this may send money market investor rushing out & into other asset classes - the SEC, the Federal Reserve & the U.S. Treasury hope that asset class is stocks to keep the stock market rising .. "Clearly, everyone understand that the only purpose behind implementing 'gates' is to redirect the herd. And with some $2.6 trillion in assets, money markets can serve as a convenient source of 'forced buying' now that QE is tapering if only for the time being. The only question is whether the herd will agree to this latest massive behavioral experiment by the Fed, and allocate their funds to a stock market which is now trading at a higher P/E multiple than during the last market peak."
  • U.S. SEC poised to adopt reforms for money market funds Reuters
  • Fund managers on alert over money market shake-up FT -The SEC is looking to drive money market funds to only government securities, especially institutional money market funds - this means money market funds will be helping to pay for the government debt ..  The SEC is also planning to allow fees and restrictions on redemptions in times of stress, but it is not clear how widely these will be applied across the money markets - FT: "Any restrictions on redemptions may not be severe at first, but the regulations will only become more restrictive over time. Don't waste time thinking you are going to monitor the situation and get out later. Get out now, when the getting is easy."


Do you know the difference between a money market fund and a money market account? CNBC Personal Finance Reporter Sharon Epperson explains the big difference


  • Australia: 'Bail in' Rules May Be Inevitable In Australia - August 22, 2021 Bail in' rules may be inevitable, says David Murray of the Financial Systems Inquiry Chair in Australia .. "It appears there’s a wide consensus that bail-in would considerably expand the buffer, would further assist in the mechanisms for the protection of depositors, and importantly would create a system where it is less likely that the government would be dragged into a crisis." .. Australia may have little choice but to adopt “bail-in” rules that expose bank creditors to losses, due to our dependence on foreign capital .. more financial repression.
  • Canada: Department Of Finance Releases Proposal For Canadian Bail-In Regime Canada's government is looking to implement a bail-in regime to limit exposure to a government bailout - the idea is for troubled banks to shaft bank depositors of their bank deposits first .. "The G-20, including Canada, endorsed the Financial Stability Board's Key Attributes of Effective Resolution Regimes for Financial Institutions in 2011, a set of best practices for the resolution of financial institutions which contemplates the establishment of a bail-in regime."




POLICY CONTROLS (Monetary, Fiscal, Public & Tax Policy)

  • September 2014 - Governments Implementing Financial Repression International Man article on how western world indebted governments need money, how they will protect the big banks at the expense of the citizens with financial repression ..  The International Monetary Fund (IMF) published a horrifying paper, called The Fund’s Lending Framework and Sovereign Debt. That paper in turn was based on one from December 2013, called Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten .. The December 2013 document, right at the start, says that financial repression is necessary: "The claim is that advanced countries do not need to resort to the standard toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms of financial repression .. As we document, this claim is at odds with the historical track record of most advanced economies, where debt restructuring or conversions, financial repression, and a tolerance for higher inflation, or a combination of these were an integral part of the resolution of significant past debt overhangs." .. The IMF report goes on to say: "Governments can stuff debt into local pension funds and insurance companies, forcing them through regulation to accept far lower rates of return than they might otherwise demand .. Domestic defaults, restructurings, or conversions are particularly difficult to document and can sometimes be disguised as 'voluntary' .. The Fund would be able to provide exceptional access on the basis of a debt operation that involves an extension of maturities .. That means that 30-day notes can be instantly turned into 30-year bonds." - this last sentence means the ability to change 30-day notes into 30-year bonds, effectively holding the money captive for a much longer period of time
  • Monetary Policy & Financial Repression in Britain, 1951 - 59 New book coming out by William Allen on Monetary Policy and Financial Repression in Britain, 1951 - 59 .. this book explores the politics of formulating monetary policy in the 1950s, the tools implementing it & discusses the parallels between the present monetary policy & that of 1951 .. "Drawing on official archives, this study describes how monetary policy was decided on, implemented and communicated at a time when the government was struggling with massive post-war debts while maintaining welfare and military spending and cutting taxes. It discusses the roles of the Governor of the Bank of England, Cameron Cobbold, and of successive Chancellors R.A. Butler, Harold Macmillan, Peter Thorneycroft and Derick Heathcoat Amory, and Macmillan's continued dominance of monetary policy after he became Prime Minister. It explains the intimate relationships between monetary policy, government debt management and fiscal policy, and the use of 'financial repression'."
  • Low Interest Rates & Inflation To Address Financial Repression Article points out the worse things get on the European financial/economic crisis, the more pressure there is on the European Central Bank (ECB) to print money - stocks will likely go up as this happens on the anticipation that the ECB will given in & start money printing .. "The ECB would print money and use it to buy eurozone government bonds, in order to prop up the region’s banking sector, and to encourage more risk-taking by lenders and investors. Of course, any hint of more money-printing always cheers the market, and European stocks reacted well to the news." .. the article points to how U.S. & UK stocks have similarly reacted positively on all the money printing .. whether all this money is good for the economy or whether it even benefits the economy in any positive way is another question .. the article emphasizes the approach of financial repression taken by the U.S. & UK in keeping interest rates down & allowing inflation to rise in order to pay off some government debt via inflation, rather than by defaulting or cutting back spending .. most western world governments are in this bind, so that "we could see interest rates staying lower than markets expect for some time. And in the longer run, we could see a lot more inflation than we’ve been used to as well" .. in terms of investing, the article suggests sticking with countries that are looking to do more money printing & that have relatively inexpensive stock markets, such as Europe or Japan.
  • This Is Going To Destabilize The Entire World Financial System Ronald-Peter Stoferle, Incrementum AG "Bond prices in practically all industrialized nations are near all-time highs. Never before have interest rates been this low on a global basis. If one examines these events more closely, it becomes clear that the underlying problems cannot be solved by global zero interest rate policy, but that the natural selection process of the market is instead being undermined .. Interest rates are the heart, soul and life of the free enterprise system .. This truth is however veiled and distorted at the moment. Governments, financial institutions, entrepreneurs and consumers that are acting in an uneconomic manner are thus kept artificially afloat. As a result, instead of them being punished for their errors, these errors are perpetuated. Protraction of this process of selection leads to a structural weakening of the economy, and a concomitant increase in the system's fragility .. Declining interest rate levels make a gradual increase in public indebtedness possible, while the interest burden (as a share of government spending) does not grow .. Without negative real interest rates, the steadily growing mountains of debt would long ago have ceased to be sustainable. Central banks are increasingly prisoners of the policy of over-indebtedness .. Central banks and governments are currently trying to create an increase in prosperity out of nothing. Such a monetary perpetuum mobile would be quite desirable for humankind, however, historically such attempts have at best led to a brief sugar high followed by a major hangover.
  • Alasdair Macleod On The Markets: Keep Calm & Carry On "Investment is now all about the trend and little else. You never have to value anything properly any more: just measure confidence. This approach to investing resonates with post-Keynesian economics and government planning. The expectations of the crowd, or its animal spirits, are now there to be managed. No longer is there the seemingly irrational behaviour of unfettered markets dominated by independent thinkers. Forward guidance is just the latest manifestation of this policy. It represents the triumph of economic management over the markets .. Doubtless there is a growing band of central bankers who believe that with this control they have finally discovered Keynes’s Holy Grail: the euthanasia of the rentier and his replacement by the state as the primary source of business capital. This being the case, last month’s dip in the markets will turn out to be just that, because intervention will simply continue and if necessary be ramped up .. But in the process, all market risk is being transferred from bonds, equities and all other financial assets into currencies themselves; and it is the outcome of their purchasing power that will prove to be the final judgement in the debate of markets versus economic planning."
  • The Fed's Financial Repression At Work: How Big Blue Was Turned Into A Wall Street Slush Fund David Stockman -- "IBM is a poster child for the ill-effects of the Fed’s financial repression. In effect, the Fed’s zero interest rate policies are telling big companies to issue truckloads of debt and use the proceeds to buyback shares hand-over-fist. That way fast money speculators on Wall Street are appeased by the resulting share price lift, and top executives collect bigger winnings on their stock options."
  • BoJ To Engage In 'Financial Repression'; We Stay Long USD/JPY - BNPP 07-11-14 eFX News "Japan now has one of the highest inflation rates in the G10. Our economists expect the BoJ to engage in ‘financial repression’ to restrain the rise in JGB yields that results from Japan’s fiscal dynamics," BNPP says as a rationale behind this view. "A larger overshoot in Japan’s inflation rate would also see the yen weaken. If inflation gets out of hand, we could, our economists suggest, see an ‘operation twist’ policy in Japan – similar to that witnessed in the US. This would entail aggressive purchases of JGBs coupled with interest rate hikes to stave off inflation. The resultant inversion in the yield curve, along with the upside shock to inflation, is a risk scenario for Japan and the ensuing adverse growth-inflation paradigm would necessarily entail a weaker yen," BNPP argues. "In addition, a re-allocation in the government pension investment fund (GPIF) and a likely pick-up in Japanese outflows will mean JPY weakens," BNPP adds.
  • MyRA
    MyRA - More About Getting Votes Than Helping Middle Class
    The Three Stooges Debunk myRA - Zero Hedge
    The MyRA Propaganda Begins A Start To A Secure Retirement Promises Treasury Secretary
    Obama To Unveil Treasury IRAs, Or Planning For A Post-Monetization World
    The Next Shoe To Drop On Your Retirement Account
    Default, Deflation and Financial Repression
    ECB Seriously Considering Negative Interest Rates; New Central Bank Mottos
    First It Was Bail-Ins And Now EU Sees “Personal Pension Savings” As “Plug” For Banks
    Furious Backlash Forces HSBC To Scrap Large Cash Withdrawal Limit
    We Are From The Government And We Are Here To Offer You A No Risk, Guaranteed Return Investment Product
    Theft Is Deflationary - Especially The Crony-CapitalistState Kind
    When Saving Interest Rates Go Negative


  • U.S. Pushing Banks On Dodd-Frank Act To Make It Easier For Government To FREEZE YOUR MONEY - Financial Repression Via Regulations "The U.S. wants big banks to simplify their Dodd-Frank Act resolution plans so it's easier for government to freeze your money." .. Bloomberg reports on the progress made by Wall Street banks developing their "living wills" as part of the Dodd-Frank Act legislation attempting to minimize "too big to fail" banks .. Bloomberg: "The Federal Reserve and Federal Deposit Insurance Corp. told 11 of the largest U.S. and foreign banks, including JP Morgan Chase & Co. (JPM) and Goldman Sachs Group Inc. (GS), that they botched their so-called living wills. The agencies ordered the banks to simplify their legal structures and revise some practices to make sure they can collapse without damaging the wider financial system." Jim Rickards:
  • Fischer worries about macroprudential policy- 07-10-14 FT Mr Fischer’s most interesting remarks relate to his experience with macroprudential policy in Israel. Israel’s bank supervisor used a range of tools to restrict mortgage lending and try to avert a housing bubble. Mr Fischer draws three lessons:
  • Basel Accord II and III - 05-16-14 Cliff Küle


Placing the Government Debt on the back off Savers & Pensioners

(ie the 75M Baby Boomers About to Retire)

REPORTING DISTORTIONS (Economic & Gov't Statistics)

  • September 2014 - Financial Repression Through Shrinkflation Financial Repression Using Shrinkflation: "As ‘shrinkflation’ becomes no longer viable, it will soon reveal itself in the form of higher consumer prices. And with central banks around the world creating inflation as a policy measure so as to inflate away the world’s massive debt pile, the question remains as to whether the central banks will be able to control this deliberately induced inflation in an environment where ‘shrinkflation’ no longer works."


POLITICAL SUASION (Political Pressures & Quid Pro Quo)





Through the Process of Abstraction the 2012 Thesis outlines how the Global Macro is presently on a well defined path towards a global Fiat Currency Failure and the emergence of a New World Order.

2012 will be highlighted by social unrest during a period of heightened conflict and tension. As economic growth declines and chronic unemployment becomes even more broad based on the world stage, Macro Prudential Policies of Financial Repression will accelerate.

Increasing centralized planning and control by sovereign government will further push advanced societies towards collectism and statism.


TABLE OF CONTENT - (To Assist in your Sectional Download Choices Below the Table)


Coming in July


Jim's recommended "Death of Money" portfolio is:
20% Gold
20% Land
10% Fine Art
20% Alternative Funds
30% Cash






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Financial Repression describes an economic policy in which capital controls and regulations are implemented by governments and central banks, the aim of which is to reduce public debt burdens through the distortion of financial market pricing.
"When things get bad enough, governments will do anything." – Jim Rickards









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"People ask if we'll have a 'bail-in' in the United States .. Given ATM limits, foreign wire limits and Federal Reserve exit fees on bond funds, I'd say it's already here." - Jim Rickards

1- Negative Real Rates
2- Disruption of Price Discovery
3- Mispricing of Risk
4- Sustained Financial Distortions
5- Restrictive Financial Choices
6-Confiscation of Wealth Through Inflation
Financial Repression always means a combination of measures that lead to a notable narrowing of the investment universe for investors. Money is thus channeled into specific directions to create a ‘home bias.

The next bailout will be the U.S. government. They will seize all pension funds and 401Ks to absorb the debt. They are realizing that as the war cycle turns up, less and less foreigners will buy U.S. debt ... The solution – forced loans." - Martin Armstrong

1- Monetary Policy
2- Distortions - Statistics, Reporting
3- Fiscal Policy - Budget Deficits
4- Moral Suasion - Political Pressures
5- Taxation - ROE, ROI
6-Regulators - Financial Requirements & Enforcement
7- Stealth Credit Spreads
8- Capital Account & Financial Excahnge Controls

"We’re going to take your pension plan and give you government bonds so that you have a guaranteed return .. That’s how they’ll rationalize taking our money. They know where all the pension plans are because we have to report it, so they’re easily accessible by governments. They know where they are, what they are, and they’ll be able to snatch them away. Who knows what they’ll do, but they’ll certainly find some way to take our money when things get worse, they always have." – Jim Rogers

1- Strict investment regulations (Solvency II, Basel III)
2- Negative real interest rates g
3- Interest rate ceilings s
4- Open credit dirigisme
5- Nationalizations
6-Regulation of cross-border capital movementst
7- Prohibition of unwanted trading practices such as naked short selling
8- Compulsory loans
9- Prohibition of certain investment assets (e.g. gold)
10- Special taxes (e.g. securities taxes, financial transaction taxes, wealth taxes, higher value added tax on silver, import duties on gold etc.)
11- Direct interventions, such as government intervention in pension funds (Portugal, Ireland, France, Hungary) and subsequent redeployment of investments in favor of government bonds.
12-Growing discrepancy between financing costs of private sector participants versus governments.

13- Haircuts on deposits (e.g. Cyprus)


"This manipulation of the yield on government debt is the answer for the government, and socially, it is so much more acceptable than the alternatives. Whatever you think of the history of hyperinflation, austerity, default and deflation, they are socially incredibly disruptive, incredibly socially dangerous, and many of those market-driven events have led to warfare or massive domestic social unrest. I think in the grand scheme of things when the government sits down and decides which avenue to pursue, this avenue of repression .. will always be more socially acceptable than the market-driven events of austerity, hyperinflation, deflation, devaluation." - Russell Napier, CLSA

THE BUYBACK TAX RUSE Its a Free Tax Ride for Corporations - 07 July 2021

Financial Repression Goes Global - 05 June 2021


Above: Doug French Sep 26 2014


Above: Mish Shedlock Sep 26 2014


Above: Ronald-Peter Stoeferle Sep 12 2014

Above: Jeff Berwick Aug 26 2014


Above: Egon von Greyerz Aug 26 2014

From the U.S. standpoint, it’s now a case of 'inflate or die,' and much of the world knows this. Thus if the U.S. decides not to default on its massive debts, it will have to resort to hyperinflation. If this happens, the U.S. will single-handedly tear the world monetary system apart. What worries me is that governments will do whatever they have to in order to remain in power. This can result in confiscation of the assets of U.S. citizens .. America's massive debts will ultimately upset the world’s monetary system." - Richard Russell




"There will be future bail-ins [loss of deposits] and other types of confiscation of wealth in the eurozone, without a doubt .. There's no other realistic way forward if politicians continue to fail to deal with the basic indebtedness problem across Europe." - Lars Christensen, the Head of Saxo Bank

Click Graphics to Enlarge


“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth.. “..There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”-John Maynard Keynes






The term ‘Financial Repression’ was first employed by McKinnon and Shaw in 1973 and has been rediscovered in the course of the current crisis by Reinhart and Sbrancia in their paper “The Liquidation of Government Debt.”

Federal Reserve Must Print Money To Keep Interest Rates Low - Cliff Küle 05 June 2021

Financial Repression To Accelerate With Increased Desperation - KWN 24 March 2021

Monetary Policy Under Financial Repression: China's Long-Term Outlook Financial Sense 20 Dec 2021