Previewing The 7:45AM EDT ECB Rate Decision

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Thu, 09/08/2011 - 07:38 | 1645413 spiral_eyes
spiral_eyes's picture

How to crash the price of gold:

(short answer, you can't) 

Thu, 09/08/2011 - 07:38 | 1645414 Highrev
Highrev's picture

An announcement that downside risks have intensified, and that both lower growth and lower inflation will be forecast pretty much flies in the face of continued tightening.

Thu, 09/08/2011 - 07:54 | 1645430 Highrev
Highrev's picture

I guess they think the Swiss backstopping will do (for now).

Thu, 09/08/2011 - 07:40 | 1645418 oobrien
oobrien's picture

Good Citzens of Metropolis!

We're all completely fucked.

Even Batman can't save us!

But what's a boy to do?

Thu, 09/08/2011 - 07:46 | 1645423 LongSoupLine
LongSoupLine's picture

Hmmm, wonder what page of, "Bernanke's QE for Dummies" Trichet's on.  Or...perhaps he just picked up the Cliffs Notes version and is winging it.

Thu, 09/08/2011 - 07:48 | 1645425 tony bonn
tony bonn's picture

"...very ill-timed decision to start tightening from 6 months ago..."

raising rates was the right thing to's counter-intuitive to the keynesian-monetarist mind....lowering interest rates destroys capital and is the economic equivalent of blood-letting and voodoo...

Thu, 09/08/2011 - 07:58 | 1645438 Highrev
Highrev's picture

Good point (and that's an understatement), and the fact that they're not lowering indicates that they're not too worried about downside risks, deflation, etc. (I would think). So now let's see what the future brings and whether they were right or wrong.

Again, good point.

Thu, 09/08/2011 - 08:16 | 1645461 janus
janus's picture

you are gonna make janus a RICH man, TD.

and he will NEVER forget it.

sage and prophet, he is.

Thu, 09/08/2011 - 08:22 | 1645474 janus
janus's picture

just read it again...GBP has no choice but to mega-QE -- announce today, tomorrow, whenever...i guess it's best to annouce it by the 100+billion pound installments, no?  don't wanna drag this out, might make for political problems...

No. 10, exchequer, ect. yer all so royally (no pun, limeys) fucked.  but, i guess not as bad as those twits across the channel -- it's all relative...especially now that the SNB has forced your hand.

or are you all just going to give into gold at the very time you've run out of it?

again, so royally fucked!

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