I wouldn’t normally consider the Federal Reserve Bank of New York a beacon of truth, but I’m having no trouble believing them when they tell us that our debt is on the rise once again.
For me, in business and investments, the risk of loss and the fear of failure are things I've had to come to learn to face head on. And I must say that when I come out on top, there are very few gratifying experiences that would measure up to this.
It’s not difficult to figure out why central banks, such as the U.S. Federal Reserve and the European Central Bank (ECB), are less than 100% enthusiastic about cryptocurrencies. Clearly, these central banks perceive the emergence of new, competing currencies based on grassroots movements as a threat to the hegemony of the U.S. dollar, the euro, and other government-backed currencies.
The Fed is full of absolute masters of euphemistic, toned-down language that hides insidious and unsettling half-truths. It takes the patience of a saint and an uncanny ability to read between the lines to decipher Fed language, which is now telling us that the era of easy-money policy is in the rear-view mirror and will not be seen again anytime soon.