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EUR Tumbles As ECB Coeure (Once Again) Signals Sovereign QE Is Coming
Just two weeks after Germnay reported that Draghi was facing mutiny and Benoit Coeure was firmly against the ECB undertaking Sovereign QE, The WSJ reports today that the very same ECB board member sees a "broad consensus around the table in the governing council that we need to do more to raise inflation and boost the economy." This of course has been interpreted by the market as meaning sovereign QE though there is no mention of an agreement on what "more" is.
As The WSJ reports,
In an interview with The Wall Street Journal, Mr. Coeuré also provided details of the ECB’s plans to publish minutes of its policy meetings starting next year, saying the accounts should be released four weeks after meetings and will be “substantial” in providing the balance of views among officials.
“I see a broad consensus around the table in the governing council that we need to do more” to raise inflation and boost the economy, Mr. Coeuré said in the interview, conducted late on Tuesday at his office in the ECB’s new skyscraper headquarters in Frankfurt.
...
“It’s not that much of a question on whether we should do something, but more a discussion on the best way to do it,” he said. “If we want to do more we obviously have to reach out to market segments where there is more liquidity and that is why the government bond market is the baseline option, which doesn’t necessarily mean we would only buy government bonds.”
“What has changed is the confirmation of low growth and low inflation, and the oil shock which is obviously new,” Mr. Coeuré said.
And then there is this utter bullshit smoke and mirrors...
“We were able to design [OMT] the right way because we took concerns on board, and we are now going through exactly the same process,” Mr. Coeuré said. “The more governors standing by this new instrument, the safer you feel that the pros and cons have been weighed in the right way.”
So why not show the world the documentation?
* * *
Now ECB QE is even more priced-in-er-er...
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Unleashing more jawboning opportunities while jawboning.
More wind and piss.
Europe is fooked and the political/banker eunuchs can wind and piss all day, but the facts remain unchanged.
Banker code speak: "Governing by consensus"
Plain English: "Covering our asses so no one can be singled out and blamed"
I dropped shipped this Christmas present to Draghi:
http://www.staples.com/Staples-Easy-Button/product_606396
Moar'er
Bitcoin continues to tumble into the low 300's. Does that mean we should not buy? Oh, no! ZH logic... only buy dips of golds and silvers!
https://btc-e.com/
Mario will likely jump ship or find a bailout gig as President of Italy before June 2015. The reversals on euro-dollar are already moving on equities, same on the em's.
On another note, does this Cuba deal mean they are now the next US state ? They do have alot of doctors, a non-existant banking system, and zero energy exports. So I guess thats positive, but remember.... the last time the Cubans released a bunch of prisoners, they released all the criminals to Florida. Some movie about Al Pachino talked about this.....
Nothing like an economic Jonestown, now drink your Kool-aid.....
America needs a Perestroika' -- Gorbachev
http://rt.com/news/214367-us-needs-perestroika-gorbachev/
how about a Glasnost?
How about a Revolution?
They're thinking Harvest.
so the #EFSF was downgraded last night Germany 25% of #France 20% and both at new ATL's
"If the only tool you have is a hammer, everything looks like a nail."
"everything except gold"
in case anyone still interested in real economy
MBA mortgage application index out for week ending december 12th ... despite dropping rates purchase portion of index down 10% week over week ... down 5% year over year
AND
if you do some digging ... you'll find that corresponding week for 2013 ... purchase portion was down 12% year over year (2012)
http://www.mbaa.org/NewsandMedia/PressCenter/90132.htm
http://www.mbaa.org/NewsandMedia/PressCenter/86575.htm
....because 6 years of printing money has done sooooo much for the "economies" of the world. income inequality has never been greater. we need more money to flow UP the ladder. yellen and the other retards (by retards, i mean central printing PhD puppets) "better get to work".
oh, an interview with the Wall Street Journal. well, Mr. Coere seems to know what kind of news WSJ wants to hear. Talk that EUR down, bitchez!
We can't have Draghi as only major jawboner. Coere for president of the ECB?
Oh it will happen just like they are programmed to do sometime in March. Anything to keep the charade of an economy going for as long as possible.
wasn't it programmed for... January? Let's see when it's scheduled for June
I'm so fucking sick of this crap!
So desperate to ignite that spark.
Please make it stop!
Moar jawbowning. Let me know when we are supposed to go balls to the wall all in will ya?
EIA out with weekly US petroleum update
crude inventories dropped 0.8 million barrels ... expected drop was 2.2 million barrels
despite falling gas prices ... gas inventories grew 5.3 million barrels
Looks like the small specs got it right this time with their record EUR shorts.
In french , disgusting is "écoeurant"
more = MOAR
Doesn't this EVER get old for people? How many fucking times do we have to go through this boy-who-cried-wolf scene before the world tells these fuckers they have no credibility, tunes out and stops covering this bullshit?
Its amazing isn't it. They killed the Euro with words. This currency war is a sight to behold.
"....killing me softly, with his words..." - It's way cheaper then printing, and it hurts the real economy less
http://newamerica-now.blogspot.com/2014/02/beyond-collapse.html
moar QE = whatever it takes = fuck the EU
Lol. release a rumour to pump things up and cash in after the FED. It´s actually just boring, isn´t it?
QE until the end of the OLD WORLD ORDER. How long can it go on for? Only these banker asshole satanic fucks are privy to that info.
Maybe Russia was just being welcomed to the currency wars?
Japan, the euro now the ruble.
Everything back up and trading again. Nothing to see here. Move along....
Good for me that I sold all Euros & Euro assets when it was $1.50USD :-)))