This page has been archived and commenting is disabled.
30 Hours After Unleashing ECB QE, Coeure Suggests QE2
With US equities down 0.5% this morning and European inflation expectations having given back all their ECB QE gains, it was only a matter of time before some half-witted central-planner felt the need to speak...
- *COEURE SAYS IF QE IMPACT ISN'T ENOUGH, "WE'LL HAVE TO DO MORE"
- *COEURE SAYS ECB WILL ASSESS IF QE MUST GO BEYOND SEPTEMBER 2016
Sure enough - just as The BIS warned "the markets' buoyancy hinges on central banks' every word and deed," stocks picked back up on his comments.
" Recent events, if anything, have highlighted once more the degree to which markets are relying on central banks: the markets' buoyancy hinges on central banks' every word and deed. "
So now we know, it now takes just a 0.5% drop in the S&P to get verbal central bank intervention...
But it didn't work for inflation expectations...
So to answer the question: How do you spell Bullard in French? Simple, Coeure...
- 8796 reads
- Printer-friendly version
- Send to friend
- advertisements -




Lunatics
As long as the lunatics allow them to print worthless IOUs, it will continue. Between fiat and now digital currency, we've completely lost perspective on the basis for using money as a means of exchange.
Tylers: Moar like what you said here yesterday:
http://www.zerohedge.com/news/2015-01-22/here-are-negatives-todays-ecb-q...
It should be obvious by now that they're selling a belief system:
"Believe in this QE, because believe we'll do more if we need to!"
The ECB threw a party and invited everyone they knew.
Nobody came.
Solution?
Invite more people.
exponential saturation, bitchez!
time to add to some mining positions
Your supposed to wait till the first doesn't work to announce the second round but now they are front running their own fail. It sure gives me buttloads of confidence.
30 hours?!!
Wow! fucking epic fail!......or is it?
QE4 by Monday morning.
Failure only happens to the little people. They are merely adjusting their outlook due to new information and 30 hours just shows you how awesomely prescient they are.
Going to need a bigger canon, screw bazookas.
Did they scrap Big Bertha ?
They are dusting off some Gerald Bull designs as we speak! Incoming!
We need one of his guns he built from two 16" Iowa-class battleship barrels. He could launch shells into low orbit with it. Definitely something we should look into for the next round of QE.
I watched a documentary on him once. It was fascinating. He was the John Browning of artillery.
Nail guns? Rope?
Check and check.
So who is the more stupid, Coeure or the folks buying stocks based on Coeure's comments?
Remains to be seen.
And the band played on...
I'd say the algos. behold the terrible power of the words of an ECB banker
Live by the central banks, die by the central banks.
When are they going to admit that someone somewhere has been doing "QE" since 2008 when Bush did "TARP"?
Ask one hundred working folks what QE stands for. Maybe one or two will give the correct answer.
Yea, but the two Sheep's answers would be: Ummmmmmm, Quantitative Easing the air out of footballs?
Didja hear? Holeeeee fuck bro, some shenanigans may have gone on in a football game! I'm all OMG right now!
Thanks for the laugh. Yesterday Faux Business had an alert banner that said "deflation concerns" and thought it was going to be about the ECB QE, just to find out they were talking about deflated phucking footballs.
Survey says:
68% – no fucking idea
23% – Queen Elizabeth
7% – something to do with the economy
2% – Quantitative Easing
58% - "Huh"?
22% - "Something to do with Football?"
19% - "Something to do with Gays?"
1% - "Quantitative Easing"
Or... Try telling the average mook the Feral Reserve is NOT part of the Feral Gubmint but is OWNED by the banks.
Oh look! A deflated fooball!
Or that there's no "Federal" Government but instead a Criminal Fraud UNITED STATES CORP. INC. "Posing" as a functional Governement for the people, by the people & of the people when it's really Criminally Frauding The American People.
Oh, wait. The Kardashian's are on.
That's not how politics works.
Can't do that in Europe dude.
They don't have a Treasury Department. "Only a printing press."
Japan has warned for decades this will end badly.
Going a little faster than I thought it would. Some panic is starting to set in with these guys.
Once they lose control and they are heading right for it, this thing will go ape shit!
FUBAR.... Sooner than later!
So much fail....
This reminds me of the 'boy who cried wolf'
.... the banksters saying 'do what it takes'
COEURE SAYS IF QE IMPACT ISN'T ENOUGH, WE HAVE A PLAN TO MOVE THE PLANET TO ANOTHER SOLAR SYSTEM. AT THAT POINT, THE MONKEYS AND JACKALS FLYING OUT OF HIS ASS TURNED ON HIM AND DEVOURED HIM.
A SPOKESPERSON HAS REITERATED THAT THE SOLAR SYSTEM MOVE IS STILL ON THE TABLE
Instead of QE 1, 2, 3, 4, 5, 6... why not call it QE8 flipped sideways
Call it what it is....money printing!!
Has never worked...ever!
Water you talking about, it has worked. For the 1%'ers that is.
They can just name QE's by the day, QE-J23 for example for today's new QE.
Good lord.
Nuttier than squirrel shit. These people are dumber than half a brick.
And nothing could be scarier than retards with armies at their disposal.
écoeurant (sickening) Coeure as the french say about heavy pudding.
Qe is now getting heavy on the market's liver.
What? Are they trying to talk down gold in Eur?
Sarc/
When this all breaks, and it will, it's going to break hard and fast! It's going to make 2008/9 look like childs play to the next one!
Across the Rothschild syndicate banking system...
The "money" is debt
the problem was that there was too much debt
now they added an order of magnitude more debt
so the "money" is now a bad debt
enjoy
They will just send in their associates in the blue helmets to claim what is rightfully theirs.
I've said it before and I'll say it again, Sometimes the "Long Enough Time Line" to zero isn't very long.
Gee whiz...I'm shocked.
QE till worldwide currency's collapse
Getting very close to freegold
And/or WWIII
the money multiplier is a bitch when you apply it to default on obligations.
And the beat goes on!
http://investmentwatchblog.com/fed-qe-was-4trn-over-six-years-passes-qe-...
I was wrong yesterday when wrote I thought it would take 8 days for this. It took 24 hours. Shows a level of desperation that probably says we are nearing the end.
The hubris of thinking that nations and individuals could spend beyond their means for decades and then print their way out of the depression needed to get rid of too much debt, capital misallocation and overvaluation is stunning. The world is run by people who think that downturns are not a necessary feature of free markets when, in reality, markets don't work without them.
If there is more currency printing than is justified by tangible things to purchase, then those with the access to the printed currency will bid up the prices of those tangible things. This result is in the wealth inequality we see reaching historic highs.
The unintended consequences of artificially low interest rates are manifesting. Over investment stemming from ZIRP is causing over supply, while debt saturated consumers with stagnant wages decrease demand.
Only debt write offs and income equality will rescue the economy, but the .01% don't want to give up their ill gotten gains. Our debts are their assets.
".......people who think that downturns are not a necessary feature of free markets when, in reality, markets don't work without them...."
Precisely.
Adam Smith, the True "Father of Economics" had it exactly Right:
"The Invisible Hand"....
Defined as the Confluence of Human Nature and Mathematics......
And it cannot be Overcome........
"Hubris" is Spot On......
Theres something off with reaction to ECB QE. When US/Japan/ China did fiscal stimulus or QE oil/copper both rallied on expected increase in demand in the real economy. Since the ECB QE they have continued their fall. Also rates went up initially both for US/Japan when they began QE on expectations inflation would rise (only to come down later) .. but here they have just fallen, ie only front running ECB, no expectation of improved growth / demand / inflation...
A - Game Over
Global fiat liquidity trap forming, no way out.
Printing more money will only exacerbate and accelerate the crisis of faith and drive rates more negative.
Europe is a TRADING BLOC dude.
That means they are a HUGE consumer of commodities.
Nuking the euro means commodity prices collapse as demand collapses over their. God forbid if the euro really does go to zero (this does happen btw.)
Interest rates will soar, demand will collapse and you'll get a ruinous inflation. "Then ISIS will attack."
Fuck those fucking fucks.
TO Infinity and Beyond
My name is Steal Liesman. Greetings interns to the CNBS intern orientation seminar. We have a motto here: "There is nothing wrong with zero% interest rates and printing trillions of dollars and other currencies around the world for seven years straight as we are in a recovery." Good luck you all are official CNBS financial journalists now.
A week ago geniuses were proclaiming the Russian market dead an buried...now, they are forced to report on some hard data!
Norilsk Jumps Most Since 2010 on ECB Stimulus: Russia Overnight
(Bloomberg) -- Russian stocks surged in New York, led by OAO GMK Norilsk Nickel and OAO Lukoil, as the European Central Bank’s plan to boost stimulus encouraged investors to look for riskier assets.
Shares of the world’s largest nickel producer jumped 9.3 percent to $16.17, the biggest gain since May 2010. American depositary receipts of Lukoil, Russia’s second-largest crude producer, added 5.7 percent to $44.24. The Market Vectors Russia ETF rose to the highest level in six weeks and Russian stocks trading in New York climbed for a second day after the Micex Index extended the world’s biggest advance this year.
Russian companies followed rallies in European equities on speculation that the ECB’s measures will boost the euro area’s near-stagnant economy and increase sales from the world’s biggest energy exporter. The nation’s stocks trade at valuations that are less than half the global emerging-market average as rating companies may strip the country of its investment-grade status amid an oil-price slump and sanctions over the Ukraine conflict.
“The ECB’s decision means that money will be cheaper and investors will have to buy something, so they are buying Russian equities, which are among the cheapest in emerging markets,”
Sergey Pigarev, an analyst at Rye, Man & Gor Securities in Moscow, said by phone. “The ECB’s plan to expand stimulus will revive Europe’s economy, which might eventually lead to an increase in energy companies’ sales in the region.”
More Cash
The ECB committed to a quantitative easing program worth at least 1.1 trillion euros ($1.3 trillion) as part of a once-and- for-all push to counter declines in consumer prices by putting more cash in circulation. In the U.S., three rounds of Federal Reserve stimulus helped the Standard & Poor’s 500 Index more than triple from a bear-market low in March 2009. The U.S.
central bank ended its easing program three months ago.
Norilsk, which plunged 36 percent between a July high and the end of 2014, has gained 17 percent this year amid projections that the metal’s price will rise. Its ADR trades at
6.4 times 12-month earnings, about half its valuation two years ago.
Lukoil is up 15 percent in New York this year after a 39 percent slide in 2014. The company will cut investments by $1.5 billion in 2015, Chief Executive Officer Vagit Alekperov said in an interview with Russian state TV channel Rossiya 24 from the World Economic Forum in Davos. It will probably delay a plan to list shares in Hong Kong, which is no longer realistic given the market, Alekperov said.
Junk Grade
The Russian rally may be short-lived, according to Aleksei Belkin of Kapital Asset Management LLC. Russia is on the brink of a recession after oil, which is the nation’s top export and, along with natural gas, accounts for about half its budget revenue, lost more than half its value since June.
The ruble has tumbled 46 percent over the past six months amid financing restrictions and export bans imposed by the U.S.
and its allies after President Vladimir Putin annexed Crimea.
Putin denies any military involvement.
“There are no long-term fundamental reasons for Russian equities to rally,” Belkin, who helps manage about $4 billion at Kapital, said by phone from Moscow. “The RTS index is at a level close to where it started to plunge in December, oil prices seem to stabilize but it’s not clear whether they will rebound, chances are high S&P is going to downgrade Russia to junk.”
Moody’s Investors Service lowered the country to Baa3, one step above junk, last week. The credit grade, which matches those of Standard & Poor’s and Fitch Ratings, is on review for a further reduction, Moody’s said.
Valuation Discount
The Bloomberg Russia-US Equity Index of the country’s most- traded stocks in New York surged 3.5 percent to 53.19. It slumped 52 percent last year. The Market Vectors ETF jumped 5.7 percent to $16.30. Futures on the RTS gauge rose 0.5 percent to
81,480 in U.S. hours. The Micex trades at 5.2 times projected 12-month earnings, a 55 percent discount to the multiple for stocks on the MSCI Emerging Markets gauge, according to data compiled by Bloomberg. United Co. Rusal rose 0.4 percent .
HK$5.12 at 10:54 a.m. in Hong Kong.
“It was foreign investors who bought Russia today,” Oleg Popov, a money manager at April Capital in Moscow, said by phone. “Investors wanted first-tier companies with good reputation, high liquidity and broad recognition.”
BUT THEY WILL STILL HAVE DOLLARS.
Not ready to say "go long rubles" yet but at least they have a monetary policy.
so what's the problem with dollar ?
And the eurusd is going dow.... wait what....up ?
LOL, more and more printing until it all collapses.
We have seen this before in history.
Wow... that was a very short half-life...bazookas and cannons are'nt working, how about an ICBM full of Euros's.
If Merkel doesn't sign, there is no ECB QE. Fertig!
And so this is why we wait until March - so Dipshit can run around playing school yard politics to try to push Merkel into agreeing.
Draghi is a useless numbskull of epic proportions.
You can only pull so many levers and have so many things go just right in the central banks Rube Goldberg machine! One ball doesn't fall on the lever precisely right and the whole contraption stops! I hope anyway...
pulling each other's johnsons more accurately...
AHAH, rates are too low, and there is too much cheap money from USA,Japan,China QE - so Europe QE and next QE will get less and less effect for economy
Moar!
Wow, like everything else European, pretty disappointing.
Worldwide currency collapse is the goal. One is the lonliest number.
I got this brand new program on my computer from a bloke at the petrol station, and it calculates proof.
I've run the numbers, and the sweet talk through the infallible system and can now, without a shadow of a doubt, with absolute certainty, and with irrefutable proof, prove that QE is utter fucking bollocks. In fact, this system that cant be tampered with, as it has a unicorn setting has proved to me that QE is something called 'Odious Debt'.
And as all us ZH knows 'Odious Debt' cannot be repaid can it? Because it doesnt 'Belong' to any of us does it?
Withdraw your implied, and complicit consent and tell these cunts to go fuck themselves. Lets give these buggers war my friends.
:-)
Edititeded for sepling
Cunts
;-)
ENDUT! HOCH HECH!
What will happen next?
1. Well, given that the European banks have all ready purchased the bonds that the ECB will buy, why they will magically have their balance sheets improved.
2. Euro will have a boost in value short term (yes, your read that correctly)
3. USA will now have it's turn in the washing machine as the boat lists the other way toward europe
4. Oh what fun late this summer and fall will be. I don't have any stocks, so I'm not worried.
Wow, 17,000 private jets in Davos?
The directors of BIS are the major Central Bankers.
Are BIS empolyees afraid of their bosses and won't tell them directly?
Immediately after leak news, Bloomberg was discussing need for QE2 in Sep 2016
"Data will determine" = "You can bank on it"
Cramer says "Just print!" ... whats wrong with that ? I wuz wonderin' if they could just print me some $ for my 2014 tax bill for me... it ain't that much I mean c'mon.
QE Hotline? We Have A Problem!
http://dilbert.com/strip/2015-01-23