The title “Deplorable Revelations“ refers to the bankruptcy of historical teachings in banking, the eternally backward views and orientation of the Bundesbank including its misconceptions and misrepresentations in its Monthly Report of April 2017.
“Much discussion of money involves a heavy overlay of priestly incantation. Some of this is deliberate. Those who talk of money and teach about it and make their living by it gain prestige, esteem and pecuniary return, as does a doctor or a witch doctor from cultivating the belief that they are in privileged association with the occult — that they have insights that are not available to the ordinary person. There is nothing about money that cannot be understood by the person of reasonable curiosity, diligence and intelligence.” ─ J.K. Galbraith (1975), “Money: Whence it came, where it went.“