Archive - Dec 3, 2015

Mario Draghi is on deck Thursday morning and market expectations could scarcely be higher. In fact, Draghi is widely expected to execute the Keynesian trifecta, i) a rate cut, ii) expansion of QE, and iii) extension of QE duration. The ECB has indeed gained a reputation for over-delivering, but as SocGen puts it, "with high expectations comes a high risk of disappointment." 

Yesterday's market swoon which unwound all of Tuesday's gains on concerns about a hawkish Fed and fears about terrorism in the US, are now completely forgotten, and have been replaced with the latest daily round of pre-ECB euphoria, driven by hopes that Mario Draghi will announce even more dovish details to Europe's Q€ 2 than just a 10 bps rate cut and a boost to QE more than €10 billion, both of which have been already priced in.

In Part I , readers were presented with the inherent criminality and fraud of the crime-euphemism known as “fractional-reserve banking.” In Part II , readers saw how the banking crime syndicate has exploited the opportunities that this institutionalized fraud presents and turned our entire financial system into a teetering Ponzi scheme about to suffer its final collapse.

Fundamentalist Muslim Nation Trying to Drag NATO Into Jihad