Hugh Hendry made some remarks about confiscation last week that I addressed in my TV appearance on RT's capital account (see video here). The gist of his comments was that he fears government's ability to confiscate wealth as a means of dealing with the economic crisis in Europe. On RT, I said that I didn't think the situation had reached that point in Europe and so I was not overly concerned. But I do want to flag comments by a major bank economist that touch on these issues.
Willem Buiter has come out with a piece suggesting not just QE but helicopter drops, a ban on currency and negative interest rates.
We think central banks in the US, euro area, Japan and UK could and should do much more, including
– (i)reducing rates, first by lowering them all the way to zero (UK and ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.