ECB – Going Full Retard
Done Deal: We’re Making Europe Richer by Making it Poorer, Comrades!
Ready, aim, fire! Draghi reminds everybody that there is no limit to how much fiat weaponry and ammunition he can deploy
Photo credit: François Lenoir / Reuters
We were really surprised at the extent to which the lunacy within the ECB council has apparently expanded. Right along with the euro area’s money supply, it is evidently the fastest growing thing in Europe right now.
According to the ECB, there is “not enough inflation” in the euro area just yet. Hence, it will increase the rate of growth of this mountain of money further by monetizing even more debt – click to enlarge.
A summary from a mainstream press report:
“Eurozone stocks could be gearing up for another rally in the coming months following dovish signals from the European Central Bank.
ECB President Mario Draghi on Thursday said policymakers will decide at their December meeting whether the eurozone economy needs further easing measures. The ECB has already been buying roughly US$60 billion in bonds a month since March in an effort to prop up the 19-member eurozone economy, with plans to continue the program until at least September 2016.
The eurozone economy has modestly grown so far this year, but continues to face risks in the form of low inflation and a slowing economy in China — its second largest trading partner. Draghi last month voiced concerns about the impact China will have on eurozone exports.
[…]
The euro notably pulled back Thursday on Draghi’s comments, losing 1.6 per cent against the U.S. dollar to US$1.11. Analysts said the euro could see the kind of sharp decline it experienced prior to the launch of the ECB’s bond-buying program earlier this year.”
…click on the above link to read the rest of the article…
