Summarizing The ECB's Press Conference Disclosures

Tyler Durden's picture

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ZeroPower's picture

Trichet's quite the clever one. Keep's GER happy - no rate cut... and yet has a (nowhere large enough as is needed btw) bond sterilization program (lets call a spade a spade) to the tune of EUR40Bn

covert's picture

the rates don't matter, lust so long as there are some.

http://expose2.wordpress.com

 

covert's picture

so, how low will europe and the euro go?

http://expose2.wordpress.com

 

wang's picture
wang (not verified) Oct 6, 2011 9:02 AM

Dragi will set things right according to the Goldman way, much like Legarde has done at the IMF the takeover is almost complete

SmoothCoolSmoke's picture

Is Trichet a Matador?   I've placed my bets on yes.  We'll see.

SheepDog-One's picture

He might be a matador...and he very well may end up like this-->  **GRAPHIC** DEEP PENETRATION - YouTube

Vincent Vega's picture

Thanks Sheep, It's always nice to start the day with a laugh.

Dick Darlington's picture
  • ECB to resume covered-bond purchase program to the tune of €40 billion
  • So now the fraudulent central planners will ALSO buy covered bonds from the PRIMARY market.

    warchopper's picture

    What does an arrogant self rightous money printing Keynesian sound like? Well, like this:

    http://www.youtube.com/watch?feature=player_embedded&v=U1S9F3agsUA

    Video is from Keynes "last words".

     

    warchopper's picture

    What does an arrogant self rightous money printing Keynesian sound like? Well, like this:

    http://www.youtube.com/watch?feature=player_embedded&v=U1S9F3agsUA

    Video is from Keynes "last words".

     

    Bartanist's picture

    Yes, Keynes comes across as an insecure pompous ass. If you watch the video interview of Hayek below you will hear Hayek's comment that Keynes was not the father of his theories He simply resurrected failed theories that had been proven, in the 19th century, to be unsuccessful.

    http://www.youtube.com/watch?NR=1&v=VqU-AZh-wqU

    One has to assume that the Keynesian cult realizes this and therefore the reason that they are employing a proven failed system is because it allows them to retain power if only for a while longer, not that it does anything for the economy ,,, then "midnigt", maybe? Increasing the money supply creates an illusion ... until it does not ... and the curtain is raised.

    Vincent Vega's picture

    Yaaaawn...how bout them Cardinals?

    Bartanist's picture

    Germany gets it.

    Let me preface this by saying that I am not a big fan of usery and especially usery controlled by a useless parasitic criminal international banking cabal that thinks they are the most clever, best of breed humans in existence. Back when interest rate increases were used to attract money, the US would have raised interest rates so that money flowed here rather than somewhere else. However, that is not the problem any more. The Fed and US banks have access to all the moey they want from the printing press and the government can borrow as much as it wants from the printing press banks. Money at the bank and government level no longer has to be attracted, only created with a balance sheet entry. This really, really, really changes the rules of the game so that one player is allowed to always win through cheating and the other players always lose because they must play by the rules or be executed.

    After a while, it should be obvious that there is no incentive for the others to play the game. They are then forced under threat of death to play the game by the one cheating player. My guess is that this builds up some resentment.

    One wonders why the one cheating player can't just enjoy playing the game, winning sometime and losing sometime. The victories must seem very hollow ... do they care or are they simply psychotic?

    Fips_OnTheSpot's picture

    DAX in nervous oscillation, open +130, "no rate change" -100, intermediate +80, after presscon -90.

    Bullriding...

    SheepDog-One's picture

    Markets now swing about 4% either way daily, manic depressive basket case world.

    Fips_OnTheSpot's picture

    Indeed.. it's funny how they try to "explain" it w/ lines-in-charts. Right now they went to a 10yr DAX-chart for drawing lines... just to fit somethig.

    MADNEZZ!

    Debugas's picture

    Japan style for the next 20 years... Walking Zombies

    kito's picture

    WE WILL HAVE THE GREATEST 4Q STOCK RALLY EVER SEEN BY MANKIND. THE EXPERTS TELL US SO!!!! WE MUST BELIEVE THEM!!!  BUY BUY BUY BUY BUY BUY BUY!! 

     

    http://www.bloomberg.com/news/2011-10-06/biggest-s-p-500-gain-since-98-seen-by-ubs-barclays-strategists.html

    SheepDog-One's picture

    Only way thats happening is if Bernanke dumps in $4 trillion into the pot, and along with big S&P rise we'll also get huge fuel and food rises as well.

    Hey go for it, set off the mass civil unrest idiots! At least I can say Ive planned and ready for it best as possible.

    kito's picture

    no way sheepie!!! europe is saved!! a goldman shark is moving into the ecb!!! SAVED!!!

    Wolferl's picture

    Trichet is a criminal, who should be in prison for the short rest of his life.

    buzzsaw99's picture

    ...and allow insolvent European banks to pledge any assets they have for cool cash.

     

    can these "assets" come from the liability side of the balance sheet?

    FunkyOldGeezer's picture

    Euro policy makers are still in denial. If they're not very, very careful, Europe will become an offshore asset of the BRICS.

    Pretorian's picture

    The "not like" market move was due to the  Trichet refusal for "Leveraged EFSF" and thats a Cristhmas wish of Goldman Sach...  So Goldman and friends  will keep constantly mini/mega crashing the market until they obtain Euro bond or Leveraged EFESF. But Merkel said yesterday "No chance- keep crashing market give us best shoot we will take it, dirt and painfully". 

    disabledvet's picture

    When I think of Central Bankers I think of Alan Greenspan raising interest rates to blow up the economy in 2000--which didn't go according to plan due to 9/11--and then wheeling around and doing the same thing in 2008--which i imagine allows himself to pat all of us on the back for a collapse well down. When I think of war criminals that guy is the top of the list. In that sense then I guess we have a lot to be thankful for in Tricet's action here. I will say this a strong euro is better than a strong war...but certainly he's not rationalizing his decisions (which have been completely consistent) through the lens of "competiveness". The idea that somehow the social welfare state of Continental Europe can be paid for through a strong euro is not believable...which can only mean Trichet is trying to "Greenspan it." As an American I really, really, really don't think you want to make your economy like ours! Anywho we'll see which side of this paper tiger Mr. Draghi comes down on. To not take note of the public sector unions literally shutting down the entire nation of Greece strikes me as "being more than just out of touch."
    http://www.youtube.com/watch?v=0kEDa6bXnA8&feature=player_detailpage

    slewie the pi-rat's picture

    looks like brokebankster mountain up ahead

    man!  that thing is completely covered with broke banksters!

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