Draghi Replays "Whatever It Takes" As ECB Buys Only EUR3bn In 6th Week Of Bond Purchases

After 6 weeks of the ECB's (3rd) Covered Bond Purchase Program, the cumulative buys amount to a mere EUR 10.485 billion. It appears they are limited (by collateral availability and market liquidity.. and dealers unwillingness to sell) to around EUR3 billion per week - around the same amount The Fed's QE3 would suck up in 1-2 days of POMO. At this rate, it's a long way to go to reach the $1 trillion goal. Is it any wonder that Mario Draghi once again used the 'w' word - uttering ECB will do "whatever it takes" (cough within its mandate).

• *DRAGHI SAYS ECB WILL DO WHATEVER IT TAKES, WITHIN ITS MANDATE

So just 6 more years of buying to reach $1 trillion?

It seems Draghi is getting desperate:

• *DRAGHI SAYS EXPANDED PURCHASE PROGRAM COULD INCLUDE GOVT BONDS

Comments

[order66]

Come on Mario, you can't blow a bubble like THAT.

[KnuckleDragger-X]

If you can't dazzle them with brilliance, baffle them with bullshit....

[vote_libertaria...]

Isn't Germany saying this is illegal and he must stop?

[red1chief]

Yes, it is illegal but what counts is the desire of the bosses in Washington.

[Stoploss]

Mario:

Shit, or get off the pot...

[FuzzyDunlop21]

The psychopaths at the Fed put this guy to shame

[DavidC]

He should be called out on this.

DavidC

[winchester]

i dont think it is planned.

[Mountainview]

Draghi of announcing big and delivering small with maximum efficency. See recent EURO weakness. No1 of Central Bank Manipulators (CBM)