In These New Times

A new paradigm for a post-imperial world

Central banks have become a corrupting force

Posted by seumasach on August 25, 2015

Paul Craig Roberts

Institute for Political Economy

23rd August, 2015

Are we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich?

These questions came to mind when we learned that the central bank of Switzerland, the Swiss National Bank, purchased 3,300,000 shares of Apple stock in the first quarter of this year, adding 500,000 shares in the second quarter. Smart money would have been selling, not buying.

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