Matolcsy: Waiting for Hadrian

English2020. nov. 27.GOVERNOR MATOLCSY100WORDS

One can find similarities between President Trump and the outstanding Roman emperor Trajan. The latter “discovered” gold in Dacia /one thousand tons of gold were produced annually/ and took it. Having this “windfall gold” he managed to finance huge public works in Rome, however, later he made the mistake of attacking an even stronger enemy. History got rid President Trump of the chance to make that mistake.

Janan Ganesh seems to be right, we have to remember the nine Caesars from Harry Truman to George H. W. Bush. /FT, 7 November/8 November 2020/ It is also promising to regard President Trump as a great creator of fiscal and monetary treasures. He has done it via the new leadership of the Federal Reserve and through unleashed fiscal deficits. He found the new gold mines in the central bank and in public debt.

Nevertheless, the next great Caesar proved to be Hadrian who defended the Empire by building his Great Wall in the West.

Will the American empire build new walls against the new Celts?

Governor Matolcsy, MNB, the Central Bank of Hungary 

Re “A fickle America cannot lead the world

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