Caption Contest: Defining "Legitimate Monetization"
The legitimacy of vulgar acts has been making headlines recently and so this morning's rumors of Mario Draghi's insistence to the European parliament that direct ECB buying three-year sovereign bonds is not 'monetary' state-financing got us thinking - just what is 'legitimate monetization' or perhaps "It's not monetization if..."
or perhaps - George Costanza is on to something:
(h/t William Banzai)
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