I had the chance recently to reconnect with Don Coxe, chairman of Coxe Advisors LLP, during a time in which Don indicates that Western central banks are, “putting at risk capitalism itself.”
It was a fascinating interview, as Don recounted the wisdom of his father during World War II, who as a battlefield surgeon, was cited for having administered more battlefield anesthetics than any other Canadian doctor. Don further noted that heroin was required in treating severely wounded soldiers—but the precision lay in knowing when to take them off, as there was a delicate balance between easing pain—and destroying the productive life of a person.
A similar balance, Don explained, is being aggravated in the western economies today, as central bankers led by the Fed’s Ben Bernanke, are continuously pumping heroin into the veins of the financial system.
Describing this dynamic in detail, Don related,
“The analogy I have used for three years is the experience of my father in World War II as a battlefield surgeon. He did more battlefield anesthetics than any other Canadian doctor (for which he was cited) and the anesthetic for severely wounded soldiers was heroin—which was legal.
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