Ray Dalio Says Capital Markets Are No Longer ‘Free Markets’

The video explains the evolution of capital markets from traditional operations, where central banks deposited money for banks to lend, to modern dynamics where central banks and governments play a significant role. It highlights the Federal Reserve's influence through asset purchases and interest rate settings. The video also discusses the central banks' role in Europe, where they lend at low or zero interest rates, driven by political rather than economic agendas, affecting the value of money and market operations.

What role do central banks play in the capital market according to the text?

How has the approach to lending changed since the 2008 financial crisis?

What is meant by the term 'fallen angels' in the context of the economy?

Discuss the implications of central banks being market makers.

In what ways do central banks influence the value of money?