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Deposits With ECB Decline By €30 Billion In New Year, Still Near All Time Record
For those claiming the ECB's deposit facility soared in the last days of 2011 primarily due to year end window dressing (for Tier 1 pig lispticking purposes or otherwise) they were right. Just barely and negligibly, but right. According to the ECB, the deposits as of January 1, 2012 were €414 billion, a drop from €446 billion as of New Year's Eve, and just modestly off the all time record €452 billion. Alas, that does mean that all the other cash from the LTRO is there to plug capitalization holes for good, as was asserted here previously. As a reminder, ECB deposit facility usage as of December 21 or the day of the LTRO was €265 billion, which means that €150 billion of the total free cash uptake is locked up in the "out of one pocket and into another" pyramid scheme. The first print of 2012 is shown on the chart below.
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Europe and the US are going through a deleveraging period which will most likely lead to a balance sheet recession such as Japan did during the "Lost Decades". Economic theory hybridization is needed in order to implement a stable international monetary system that is not just based on leverage but on growth of real GDP, meaning the production of real goods, rather from financial gambling with derivatives.
Check out the latest from the Capital Research Institute (CRI):
Deleveraging - A Balance Sheet Recession
You talk shit
This is not a "balance sheet recession" ...nor was Japans
This is a bankers recession. You know those thieving worthless parasites that destroy nation after nation through the money supply.... well "Hello" the fuckers have done it again
Rather than try to peddle your new disengenuous bullcrap theory, which is trying to sugar coat a turd, why don't you go and take a long walk off a short pier
Load your iPad with Gresham's Law, bad money drives out good, for your walk
-7.1 % is still a pretty big draw down. Still looking for 1.15 Euro with a stop at 1.33.
momos are chasing the DAX up.
2012 Europes last gasp.
Adam Smith don't have shit on "The Real Father of Modern Day Economics"-Charles Ponzi
Even if they never got anything for it, it was cheap at that price. Without malice aforethought I had given them the best show that was ever staged in their territory since the landing of the Pilgrims! It was easily worth fifteen million bucks to watch me put the thing over.
The Invisible hand was deemed to be nothing more than a two bit pickpocket.
Is it just me....or has anyone else noticed that over the holiday season the comment sections of ZHs posts seem to be down by a factor of 10....
i welcome the return of all the 'special interest' groups tomorrow! (good and bad)...
-the king
Yah, maybe it has something to do with wanting to spend time with your loved ones?
if there's any doubt that the banks and CBs are gaming the stock markets...
DAX +3% on first day of trading in 2012 to send a strong message
then there's of course the LTRO facility and the withdrawals of 30 billion which were funneled into stocks.
happy times are here again!
Euro QE bitchez!
short the euro? why not?
where ever islam is profits are not!
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