tag:blogger.com,1999:blog-36227136.post4400606361501041555..comments2024-01-16T08:40:53.682+00:00Comments on <a href="http://www.openeurope.org.uk">Open Europe</a>: The ECB gives Portugal a helping hand with its return to the markets OEhttp://www.blogger.com/profile/00556463374230498875noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-36227136.post-69715350279160109722014-04-25T16:01:34.309+01:002014-04-25T16:01:34.309+01:00Walter Funk was Hitler's Economist.
It seems...Walter Funk was Hitler's Economist.<br /><br /> It seems that the level of integrity in the ECB, the EU's German controlled Bank, has slipped back a few decades.<br /><br />To dress this farce up as an EU achievement is standard Goebbelsian fantasy typical of the EU's desperate Commissioners, but for Open Europe to give it a tag like<br /><br />The ECB gives Portugal a helping hand with its return to the markets <br /><br />Probably means that OE should close its Berlin office.christhaihttps://www.blogger.com/profile/05295016591612384314noreply@blogger.comtag:blogger.com,1999:blog-36227136.post-48025646640126272672014-04-25T11:13:05.148+01:002014-04-25T11:13:05.148+01:00As such no problem of CBs getting junk (as that is...As such no problem of CBs getting junk (as that is what it is as collateral), providing cuts are high enough, however here:<br /> Probably 20,30,40% of the value of PIIGS CS bonds is based on the ECB itself (Draghi statemens). Which nmakes it a risky thing a very risky thing.<br /><br /> Another thing is that it allows basically busted banks to load the crap (which value as said is 20-40% hot air on its already rubbish BSs. Huge one sided risk no risk spreading whatsoever. Basically an incentive to rubbish your BS.<br /><br /> The rules for all this are purely fictional (hardly any basis in proper traditional bookkeeping whatsoever). Which is highly dangerous. If people start to look through it or better donot believe in the German guarantees that uphold the garbage bin you have a huge problem (also in the North as the centre will be the CB with links all over the place.<br /><br />Btw it seems that the ECB is buying massively UST (via Belgium CB).Riknoreply@blogger.comtag:blogger.com,1999:blog-36227136.post-63501877544641423892014-04-24T10:34:53.355+01:002014-04-24T10:34:53.355+01:00So basically the ECB is behaving in just the same ...So basically the ECB is behaving in just the same way that the banks which created the crash were doing then. The question has to be why, and the answer no doubt would be to prop up the politically created unnecessary euro.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-36227136.post-6625603483634701982014-04-24T06:29:26.596+01:002014-04-24T06:29:26.596+01:00Central bank thuggery continues and so does the Eu...Central bank thuggery continues and so does the Euro Ponzi. <br />Not surprisingly some seem to be rejoicing.<br /><br />When the next wave of e same crisis strikes, PIIGS will be beyond help.<br /><br />Anonymousnoreply@blogger.com