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Banks can be their own worst enemies, believes Colin Lawson

25 September 2012

It is my fundamental belief that the solutions implemented by central banks to solve economic problems often create the next crisis.

The more serious an illness is, the stronger the medicine used to remedy the situation but, potentially, the more significant the side effects are as a result. In much the same way, the bigger the economic crisis, the greater the solution used to fix the problem and then the larger the next crisis may be.

History lesson

Let us test this theory by looking back in history before we consider what is happening today and what the future may hold.

On 31 December 1999, the FTSE 100 peaked at 7,000 shortly before the technology bubble burst. This was quickly followed by the 9/11 attacks and the Iraq war. In order to stave off a recession and avoid deflation, the board of governor...

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