Washington's and The Hague's Ignorance
It is not difficult finding many occurrences showing that neither the top leaders of nations, nor the men in charge of the Federal Reserve System or the "Centrale Bank," nor the men and women on Capitol Hill or at the "Binnenhof" in The Hague, know what is really going on in the economy.
I know that those remarks sound incredibly arrogant. I know also from experience that those men in charge of those Central Bank organizations, believe completely in what they are doing. They simply refuse to let any other thoughts about money and capital enter their brains than the thoughts
they have had since the day they graduated or presented their doctoral theses. Some of those chairs or presidents of Central Banks have spent a part of their careers as professors at very reputable Universities. They cannot simply allow to accept new economic paradigms that make all their theories and theses totally useless. We have to face the reality that the leading men and women at the political and money front have, in all probability, no desire to lose their faces by stating that they have worked for most of their lives with the wrong economic axioms.
We developed an economic house without a proper scientific fundament and use the Tea Leaf Reading method to guess what the condition of that house in the future will be. The reason for this defect in our money system is easy to find. We adopted a money tool that did not develop along scientifically proven standards but that came into existence as a result of a money making scheme of some clever adventurers and their befriended aristocrats at the end of the seventeenth century.