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ECB Keeps All Rates Unchanged
For once, the vast majority of economists was correct, with 62 of 66 predicting accurately what the ECB would do today: nothing. At least so far - moments ago Mario Draghi's central bank just announced no cuts across all three major rates.
From the press release:
At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.25%, 0.75% and 0.00% respectively.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.
European stocks not happy, and the EURUSD engaging in its usual acrobatics first surging then plunging...
... perhaps because there is still a chance Draghi may announce the end of SMP sterilization in the press conference in 45 minutes, which would free up some liquidity, but hardly have the desired impact.
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What a Drag-hi! I thought change was good.
My heart is racing over here.....who could have seen that coming?
Same as it ever is...
meh. last time there were some 60 out of 70 economists (including yours truly - though not an economist) predicting no change, and the ECB did some cosmetic slashing down
Economists, correct, it's unreal.
<-- Central Bank manipulate EVERYTHING
<-- Central Bank lie about why
Which is greater sin of Central Bank Cabal
...Zero rates....Only way to pave way for Economic Recovery thru Wars.
the greatest sin of fiat fractional reserve banking / central banking is that only few understand it. lots of comments over the last 100 years about this fact
"It is well for that citizenry of nation are not understand banking and money system, if they are, I believe there would be revolution before Tuesday morning." Henry Ford, founder of Ford Motor Company
No new is good news. I'm all in on cat food and bullets. Riding high, baby.
"European stocks not happy". so what. getting the rates further down would have been even sillier than last time
so what.
So.....let's dance.
http://www.youtube.com/watch?v=cwYJxNnABp4
Guessed "B".
Really, give it a week and we'll have another scintillating announcement meant to save the EU.
"save the EU"? from what?
from the banking oligarchy that it is rulling it through its political parties.
interesting. political parties? do you know that we have - in the eurozone alone - some 100+ political parties? you have to be more specific, here. or perhaps stop projecting
the rulling political parties. specific enough?
still not there. in each of the 18 countries of the eurozone? often it's coalitions, so the number is in the ballpark of 25-30
When is Draghi going to get the message and start unsterilized (QE-style) bond purchases? This guy just won't take a hint. His handlers grow impatient.
perhaps I've not repeated enough this fact: the FED has a top-down organization on several levels (including the NY-FED)
the ECB has a bottom-up org
18 votes come from the national bank governors. Draghi and the four others are not the ones really setting policy, their job is only to coordinate and communicate
so Draghi's "handlers" are his collegues, like the governor of the Banque of France, and the governor of the BuBa, and the governor of the Bank of Italy, etc.
So you're saying he's just following orders.
Yeah, we have votes in the Fed Board or Governors over here, too. Bernanke/Yellen don't set policy all by themselves. Somehow we still arrived where we arrived anyway.
interesting. your way of reasoning seems to imply that there are always "orders from above". no compromise, no politics, no diplomacy, nothing
diplomacy and compromise do seem to be getting rare-er and rare-er
Freegold by 2015?
But they still get a nice lunch out of it...
Have breakfast with yourself, have lunch with your friends, and have supper with your enemies.
Be on the lookout for Draghi's 50 year plan for Europe.
The first 50 year plan is now being baked for Greece.
I can now see the headlines in 50 years time (if we don't get wiped out before then):
Headline will be, "Plan to be extended by 50 years".
Gold is up...
silver is up...
SO CLEARLY THEY MADE THE RIGHT DECISION!!
DON'T ARGUE WITH A GOOD THING OR WHEN IT'S GONNA GET YOU LAID!
THANK YOU!
http://www.youtube.com/watch?v=mOD0XCm57d8
I don't want to be a killjoy but why don't you give the boys upstairs a bit of time to prepare for the usual smackdown, 3....2....1.....
Janet likes to sleep in late till noon so that won't happen for at least a few hours.
Is it time for that happy meal already. I know it's paid for, but the ants in my pants are rather uncomfortable.
once again the sociopaths in NY r painting the tape in the phony paper Silver maket at the open trying to push back below $20...
pure coincidence of course....
http://www.kitco.com/charts/livesilver.html
How bout some financial news.
Turn into CNBC.....they'll hook you right up. It'll make more sense if you're drinking heavily.
I'm sure they'll appreciate it....they could really use the ratings.
Slight chance of snow... NEED I SAY MORE?!
In the north is going to be cold, in the east is going to be dry, in the west it is going to rain, and in the south it is going to be mild. How much more news do you need? If you snooze, you lose??
Hee hee, ha ha!
Running out of wiggle room, Mr Draghi?