The Effects of Financial Repression

Despite low interest rates, banks did not expound their balance sheets. However, there was still the creation of plenty of debtd. If i lend you a hundred dollars, and i'm not a banker, then that's a hundred dollars of debt that's just been created. We didn't create any money. So that was the failure of central banking. Its mechanism, its ability to control those horses, for whatever reason, didn't work. Sow a small transfer of wealth away from bond investors or holders of fixed interest securities. But that really, really got on the way in 20 20.