Policymakers have "got away" with unsound monetary policies for the last 12 years, and think they have a "magic formula" to deliver "unlimited amounts of money without cost and without risk," according to Paul Singer's latest update to investors of Elliott Management.
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In the update, a copy of which has been reviewed by ValueWalk, Elliott says that policymakers are "wrong" to believe that they have a magic formula to control risk.
"They are just as wrong as when they said that recessions and financial crises are things of the past," it goes on to opine.
Paul Singer: Money is going...
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