Markus Krall is known to be a supporter of the Austrian school, which sharply criticises the monopoly of the central banks and demands a free monetary system. Krall currently sees a fatal development. The central banks follow their “fetish” of demand stimulation (Keynesianism). But in fact they reward bad investment decisions with their negative interest rate policy, which then further exacerbates the zombification of the economy.
In turn, the central banks would react to this zombification with further measures that would exacerbate the problem even further. A kind of vicious circle fed by a false money theory. As Markus Krall puts it: “you put out fire with petrol! Or: “The worse an investment, the more it pays off with negative interest rates”. This would also poison healthy companies because the elimination of interest would eliminate the decisive criterion for investments.
But if healthy companies fall ill, then the already weakened European banks will finally get into trouble, says Markus Krall.
The negative interest rate, Krall continues, is in fact a renunciation of the previous monetary system. Lenin once said: if you want to destroy bourgeois society, you have to destroy their monetary system. In this respect we could say that the central banks have arrived at socialism..: