Mario Draghi's "OMT Is Real, I Promise" ECB Press Conference - Live Feed

Tyler Durden's picture

Update: And here it is - Draghi just said Russian sanctions could add to the "downside risk." Translation: all Putin's fault

With inflation tumbling, credit creation imploding, core European nations' economies floundering and the periphery re-collapsing, ECB's Draghi decided rates were negative enough and expressed no change in the statement which leaves just the press conference to jawbone the EUR lower, Bund yields even more negative, and explain why Portugal was a one-off... or admit OMT was make-believe.


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LawsofPhysics's picture

"inflation tumbling" - LMFAO! Yes, it's "tumbling" with respect to useless crap from china or anything that is NOT required for survival...

imaginalis's picture

It is not decreasing as much as product sizes.

ebworthen's picture

You're making me hungry for 3/4's of a "1/2 Gallon" of "Rocky Road" ice cream.

The new "Less Cholesterol!" - "Metric Dozen" of eggs coming soon, and the 96 ounce "Easier to carry!" - "Gallon'" of milk.

Haus-Targaryen's picture

"success in budetary area"

He is either nuts, or one of the most dangerous people on the planet. 

nope-1004's picture

It's a pretend economy run by pretend press conferences, with make believe policies.  Draghi is delusional.  Time will label him as just plain stupid.


LawsofPhysics's picture

"OMT is real"...  yes it is, what I found more interesting is that Draghi admitted that not only is it "real", it is in fact more QE...

MFL5591's picture

Get rid of this Goldman parasite!

Dr. Engali's picture

Let's see if I can kick this can one more time before the market finally calls bullshit.

adonisdemilo's picture

The real risks are not Geopolitical they're just plain Political, all the problems stem from dumbfuck politicians, most of whom wouldn't last two minutes in a proper job. 

fzrkid's picture

"With inflation tumbling"


I suspect this is written Post 1975 definition of the word inflation.


It seems if we were to use pre 70's definition of inflation where it is described as the creation of money then we would be in DEEP SHEEEEEET right now

buzzsaw99's picture

all the ecb acronyms are eurotarded. sterilization is a bitch, austerity is a bitch. the ecb is full of a bunch of lying cunts. draghi is a douche.

NoWayJose's picture

When will central bankers realize that giving cheap money to (unregulated) big banks doesn't help the overall economy?

NotApplicable's picture

Why would anyone ever think they don't realize it already?

Please stop playing along with the script.

jimcg's picture

"When will central bankers realize that giving cheap money to (unregulated) big banks doesn't help the overall economy?"

Same as asking "When will train robbers realize that robbing trains doesn't help anyone but train robbers?"...I think that they already know it, and plan to do more of it.




Squid Viscous's picture

so this means I should buy more Netflix and Tesla?

skbull44's picture


Ya think? Are these bozos setting up the coming crash to be laid at the feet of Putin/Russia/China? How convenient.

ebworthen's picture

Draghi:  "The assessment of the present situation is volatile..."

WTF?  Wait...he's going to blame Russia, or call for more austerity, or both.

He seems to be saying a whole lot of nothing so far.

Bernanke School of Bullshit alumni.

Downtoolong's picture

The only reason our farce looks like a farce, smells like a farce, feels like a farce, sounds like a farce, and tastes like a farce is that some people who haven't already had all their senses numbed by this farce won't play along and pretend it's not a farce.

ebworthen's picture

Funny, he keeps using the term "Markets".

What markets?

Bankster Kibble's picture

It's code for "all you suckers out there."

venturen's picture

till bankers start going to jail nothing will change!

Colonel Klink's picture

till banker's heads start rolling nothing will change!


GFORCE's picture

I'm sure BES was Russia's fault too. 

Eyeroller's picture

Teflon Barry:  It's all the Republican's fault.

Draghi:  It's all Russia's fault.

What will Yellen's excuse be?

Colonel Klink's picture

It's all the deadbeats who don't pay their fiat loans back fault.

breakyoself's picture

The great jawboner.

TabakLover's picture

Early market reaction looksl like they ain't buy'n what this prick is selling.

Luckhasit's picture

Super Mario covering all bases.  It's so coordinated it seems like a conspiracy!

Hookers and blow to boost GP a few tenths of a percentage point and Russian sanctions to cushion the gigantic slide.

q99x2's picture

Why isn't he in prison.

datapanik's picture

Perfect timing - engineered economic collapse to be blamed on Russia. As for the missing plane - what missing plane?