Central banks have been engaged in unprecedented monetary experimentation. Unlike scientists developing drugs, fear of the unknown has had no moderating influence on their activities. That in itself is alarming. Nor is it possible to reverse recent policies. Now governments must accept responsibility for resolving an incipient global solvency crisis.
全球各主要央行近年投入史無前例的貨幣實驗。不像科學家們開發藥物，對未知的恐懼并未對央行活動產生抑制效果。這本身就是令人震驚的。近年政策也是不可能逆轉的。現在，各國政府必須承擔起責任，應對一場正在露頭的全球償付能力危機。
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