Most of the speakers, Geithner among them, painted a dark picture of the global economy, in light of income inequality, changing demographics and growing reliance on central bank interventions
," Baldwin said.
In 2015, "like the last seven years, it is the central bank interventions
which will have an influence over the markets," said Romain Boscher, a stock portfolio manager at Amundi.
Moreover, most central bank interventions
are conducted silently, even though a minority of industrialized countries provides intervention data ex post.
If state central bank interventions
across Europe had not taken place to artificially pump up the asset bases of structurally significant banks in every country in Europe, then the New Year would have seen a continent-wide domino collapse of banks which would have without doubt crashed into all of the UK banks.
Bailout tricks and clever central bank interventions
were supposed to calm nervous markets.
Russia was then able to save the ruble from outright collapse through central bank interventions
that relied on cash saved from years when prices on its oil and natural gas exports were high.
The technicalities of Asian Central Bank interventions
aside, the underlying story is that these banks and oil rich countries are losing their appetite for the US dollar; if they didn't, they'd keep their dollars and not recycle them.
The currency held stable in the past two months at around 215 to the greenback, aided by Central Bank interventions
It is hard to distinguish such a proposed purchase from central bank interventions
to stabilize currency rates,'' he said.
Central bank interventions
by European and US institutions and eventual interest hikes are anticipated, resulting in one-half to one full percentage point increases in Europe.
We expect, therefore, to see continued growth in the managed futures industry as fees decline, correlations among asset classes continue to break down, and the influence of central bank interventions
on legitimate price discovery wanes," said Summit participant Rick Harig, Partner, Efficient Capital Management.
These short central bank interventions
serve only to assure that in a crisis situation the system of liquidity provision functions in an orderly manner," he told the newspaper.