- advertisements -
The F-A-R-C-E is strong with the ECB
ECB: "You want us to give more money to the banksters. You think that QE is good for the economy."
Public: "We want you to give more money to the banksters. We thinkt that QE is good for the economy. Move along."
Man this is beautiful!
I've got some old McDonalds napkins and a pile of used paper bird cage liners I could cash in!
What better way to say that Portugal is bankrupt too.
NINJA loans, once the domain of people, has now gone to countires as they can sell NINJA junk to the ECB.
Our paper is so good we don't need a rating...
Cash for Junk(ers)!
should be good for another 90 SP500 points next week.
there is but one rule, and that is to maintain the status quo. all other rules are meaningless.
and this is why the E/U just popped? really?
Ahhhhh, the status quo are threatened. So, change the rules of the game.
Must prevent consequences accruing to anyone in the top 2%.
Game to Trichet, set and match TBD.
Exactly - these One Worlders are running scared because their poster child of soverign control (i.e. the EuroZone) is crumbling like a cracker into Liesman's 14th bowl of chili
Exactly, the Euro was supposed to be the shining model for the oncoming total 1 world currency, cant have it all collapse NOW can we? Not on the cusp of the big rug pull out!
There is already a one world currency. Been around for years. Called Gold.
Any bondholder that buys this paper deserves what he gets...
So in other words, their answer is close their eyes, plug their ears, and pretend everything is ok?
Edit: IGNORE ALL RISKS FULL STEAM AHEAD!!!
Yes, because everything in the world is now perception, PR campaigns, full faith and credit, image is everything. The economy is healthy if people believe it is healthy.
Wasting away in Pollyannaville.
Hey, why not? They are just following the Fed. Next step they will buy those directly from banks ala MBS buying spree the Fed went on.
yep. each bank will start dumping to it's host government until all the liabilities are squarely on the back of the people. then comes the default.
look at rates : 2- 5 yy rate is over 15%
PORTUGAL IS OVER..
And Ireland is next. 15.9% 2 Year.
Money printing QE by the ECB should weaken the EUR/USD to at least 1.35
Stop it with the market fundamentals.
The EMU can't possibly win the race to the bottom (our printers are far more insane than their printers), but that probably won't stop them from trying.
" stop it with the market fundamentals"
Exactly..how do you invest when the rules change..and they ...TPTB...just do things that when we find out two years later...makes us puke...
Hahahaa, the eurofanatics are building the biggest bubble ever! Must.preserve.wet.french.daydream.at.all.costs.
Sold some ES here. This news should spark a rally from the lows, not a break away gap on a market trading above its traditional bands. Things are becoming desperate but so far there is no apparent reduction in risk appetite.
The sheeple are now so placated you couldnt wake them out of their slumber with a tazer. Just how they want everyone, totaly expecting markets up 1% daily from here on out.
Ive never seen such crappy manipulation statements...
Trichet is a liar.
just when you think you can relax, out pops another screaming baby.
And each one uglier than the last.
yip, this one was ginger.
welcome european toxic bank :D
Good for a $0.40 pop in silver.
Are they trying a new approach? Raise rates and run the presses at the same time?
Smacks of complete and utter desperation to keep the falling plates from falling
FULL STEAM AHEAD?
Just like the Titanic! That wasn't supposed to sink either.
ECB to the world: PIIGS are bankrupt, but that doesn't matter, ratings mean nothing bitchez.
By tomorrow the ECB will just say Portugal and the other PIGS can not be found on their maps, they just dont exist.
So its kinda like farting in a lift?
Or worse, sharting in a lift.
These are not the PIIGS you're looking for.
I'll bet the ecb pays face value too.
Who cares? Buffett just told the world that everything is fine...you gotta luv CNBS. Long and strong looking for Dow 40,000!
WOW ... First they complained the ratings agencies didn't do their job and now they complain that they are doing their job too well.
"We are concerned about price stability."
"We take any crap as collateral and give you cash."
So if the Portuguese gave them that smelly soup they make, they would accept that?
I love the smell of desperation in the morning!
So who in their right mind would buy Portuguese debt. Oh I know Bernanke. What an f'ng joke.
ECB and PBoC
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.