This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
Bank of Japan head Haruhiko Kuroda aimed his kamikaze plane straight at the global economy last week, and scored a direct hit by imposing negative interest rates in Japan for the first time in this cycle.
In doing so, he joined his reckless European banking brother Mario Draghi and increased the volume of global sovereign debt with negative interest rates to $5 trillion dollars.
This type of monetary insanity can only end one way – in the destruction of capitalism whose very laws it violates by confiscating capital from retirees, insurance companies, pension funds and others who require a positive return to survive.
This was another step on the road to financial Armageddon, but there’s still money to be made if you make the smart move…
This post was published at Wall Street Examiner by Michael E. Lewitt ‘ January 31, 2016.