Another financial crisis is looming and central banks may be the cause, according to Deutsche Bank . It revealed financial crises have increased since the breakdown of the Bretton Woods system in multi-century , and blamed current instability on the fiat money system. The institution also pointed out the $ more than $13 trillion of assets held between the European Central Bank , the Federal Reserve and Deutsche Bank , and bloated levels of government debt, hitting 70% of GDP. Deutsche Bank said: "there is no natural point where a purge of the excesses is forced by a restriction on credit creation".
Another financial crisis is looming and central banks may be the cause, according to Deutsche Bank. It revealed financial crises have increased since the breakdown of the Bretton Woods system in the 1970s, and blamed current instability on the fiat money system. The institution also pointed out the $13tn of assets held between the Federal Reserve, the European Central Bank and the Bank of Japan, and bloated levels of government debt, hitting 70% of GDP. Deutsche Bank said: "there is no natural point where a purge of the excesses is forced by a restriction on credit creation".