Central banks create $5,000,000,000,000 new dollars in 3 years
Telegraph reports on work by Fathom Consulting who have calculated that the 4 largest central banks have created $5 trillion in new money since mid-2007.
Fathom measured the liquidity injections made by the US Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England, by tracking how their balance sheets increased after the crisis.
"It shows their assets were relatively stable through 2006 up to mid-2007. They then started to climb rapidly as the global financial system began to unravel". It amounts to 8% of global GDP according to Fathom.
Fathom measured the liquidity injections made by the US Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England, by tracking how their balance sheets increased after the crisis.
"It shows their assets were relatively stable through 2006 up to mid-2007. They then started to climb rapidly as the global financial system began to unravel". It amounts to 8% of global GDP according to Fathom.
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