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Banker says policy of handing money to banker chums is a success

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LINDAU, Germany (Reuters) - Unconventional monetary policy is a success, but gaps in understanding the relatively new tools remain, European Central Bank President Mario Draghi said on Wednesday, cautioning against hasty policy responses to the new reality.


No it's not.  Even the BIS that he is a director of has admitted as much (that it's failed) in its published papers.

It admits that "unconventional monetary policy" is a failure except to line people like Draghi's pockets.



The BIS Board of Directors1

Chairman: Jens Weidmann, Frankfurt am Main

Mark Carney, London
Agustín Carstens, Mexico City
Andreas Dombret, Frankfurt am Main
Mario Draghi, Frankfurt am Main
William C Dudley, New York
Ilan Goldfajn, Brasília
Stefan Ingves, Stockholm
Thomas Jordan, Zurich
Klaas Knot, Amsterdam
Haruhiko Kuroda, Tokyo
Anne Le Lorier, Paris
Fabio Panetta, Rome
Urjit R Patel, Mumbai
Stephen S Poloz, Ottawa
Jan Smets, Brussels
François Villeroy de Galhau, Paris
Ignazio Visco, Rome
Pierre Wunsch, Brussels
Janet L Yellen, Washington
Zhou Xiaochuan, Beijing



Edited by billybong
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