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Old 12-09-2011, 12:46 PM   #1
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The ECB bazooka

From Reuters' online blog..

Quote :
The ECB's decision to provide unlimited 3-year liquidity to banks should give them the funds they need to finance economic growth and purchase sovereign debt, helping to lower euro zone bond yields, ECB Governing Council member Christian Noyer said.

In an interview with French news channel LCI, Noyer also said that a EU summit deal on Friday to move toward greater fiscal union in Europe should help to underpin a recovery in confidence.

"What we decided yesterday in the governing council of the ECB was to use our bazooka ... so that banks can continue to do their job, continue to provide credit to the economy and ... buy sovereign debt," Noyer said.

"That is the role of insurance companies, banks and financial investors. We will give them all the liquidity they need so they can do this."

Noyer said Friday's "historic" agreement by European countries to set automatic sanctions on budget rule breaks -- agreed by all 27 EU members except Britain -- should help stabilize investor sentiment toward the euro zone.

"I am convinced that this should be well received and that should allow interest rates to fall," he said.
So the ECB is actually doing a round about QE by providing unlimited 3 year loans to banks-. Then those banks can use that money to buy sovereign debt.

Last edited by DSAbug; 12-09-2011 at 12:56 PM.
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Old 12-09-2011, 12:50 PM   #2
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They can kick that can all they want, at some point, they reach the end of the road. i cannot for the life of me understand why they think the solution to untenable debt is a massive increase in the untenable debt. Is it just me? These guys must live in some alternate universe, because here on Earth, more debt is not better, it's worse.
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Old 12-09-2011, 01:08 PM   #3
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Originally Posted by ancona View Post:
They can kick that can all they want, at some point, they reach the end of the road. i cannot for the life of me understand why they think the solution to untenable debt is a massive increase in the untenable debt. Is it just me? These guys must live in some alternate universe, because here on Earth, more debt is not better, it's worse.
Isn't this basically a backdoor QE?

Why is it the only news source talking about this is Reuters? This seems to be very important.
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Old 12-09-2011, 01:09 PM   #4
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Unlimited printing. Awesome. Good job eu.
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Old 12-09-2011, 01:15 PM   #5
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Originally Posted by KMS View Post:
Unlimited printing. Awesome. Good job eu.
Yet not a peep out of anyone about these comments. He spelled it out.
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Old 12-09-2011, 01:35 PM   #6
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Hey! You guys are just being haters! The ECB and the FED are working tirelessly for your benefit, and all you can do is be mean? I think you should be glad these tireless philanthropistic government folks are helping you out like this and sent a thank you bouquet or something. At the very least, you should set them up with a hooker and some blow. Ingrates.

<sarc>
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Old 12-09-2011, 01:39 PM   #7
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Haha, I said good job didn't I?
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Old 12-09-2011, 01:48 PM   #8
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Watched Fox Business News while I ate lunch. Talking heads were saying the EU agreement is far from a done deal. Heads of state now have to go home and convince their governments to cede their sovereignty and implement the austerity measures. Still a good chance the bazooka falls apart.


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Old 12-09-2011, 01:49 PM   #9
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Hmmmmmmmmm..........a dud bazooka round. That would be bad.
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Old 12-09-2011, 02:03 PM   #10
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Great thread! At first I was thinking; oh great more to worry about..., until I saw PMBug´s videos, LOL!

One of my friends emailed me a funny video of someone shooting his AK in Craptakistan somewhere... His pals were all shouting ¨Allahu Akbar¨! Then the AK blew up! SOB was lucky he wasn´t hurt.
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Old 12-09-2011, 08:08 PM   #11
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Originally Posted by ancona View Post:
i cannot for the life of me understand why they think the solution to untenable debt is a massive increase in the untenable debt. Is it just me? These guys must live in some alternate universe, because here on Earth, more debt is not better, it's worse.
I think they understand exactly what they are doing. They don't want to fix the European problem or the U.S. problem. They WANT to kick the fiat debt-money problem down the road until an opportune time.

When is the opportune time? I don't know, but I think they have a general timeline in their sights. In fact, when the Federal Reserve Act was passed in 1913, they most likely knew/planned that within roughly 100 years that the fiat bubble would be ready to burst. And during that 100 years, they have managed, through fiat debt-money system, to transfer (steal) the wealth of the masses into their coffers.

And the motive for the opportune time is world government, one-world currency and complete control.

These guys think and plan ahead in terms of many decades rather than just years. I say that not as a complement, because they are very evil and their plans are not for the benefit of humanity. And that is why their actions such as kicking the fiat conundrum down the road a few more years looks ludicrous to the astute person, but in their eyes, for their own purposes, makes complete sense.

Now with all of that said, I do think they will ultimately fail. I think all of their scheming will backfire on them, in due time.
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Old 12-09-2011, 10:33 PM   #12
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Originally Posted by ancona View Post:
i cannot for the life of me understand why they think the solution to untenable debt is a massive increase in the untenable debt. Is it just me? These guys must live in some alternate universe, because here on Earth, more debt is not better, it's worse.
I get it, I think. At least where oatmeal and pabulum are seen as acceptable substitutes for gray matter.

They really, really and truly have deluded themselves into believing that they actually "grew" an economy this way, rather than the expectation of an economy.

If we all just hope enough, expect enough, believe enough, and most of all work hard enough, then all the unlimited debt will be met with equally unlimited growth.
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Old 12-10-2011, 01:29 AM   #13
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What do you expect when you have 20 guys many with little economic experience with 20 different agendas, some in the group, some outside the group, trying to solve the greatest economic problem in 2 days? The best you can do is delay the answer so the next 20 guys can deal with it and take blame for the problem.
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Old 12-10-2011, 08:18 AM   #14
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Originally Posted by Steven Douglas View Post:
I get it, I think. At least where oatmeal and pabulum are seen as acceptable substitutes for gray matter.

They really, really and truly have deluded themselves into believing that they actually "grew" an economy this way, rather than the expectation of an economy.

If we all just hope enough, expect enough, believe enough, and most of all work hard enough, then all the unlimited debt will be met with equally unlimited growth.
Actually, limited debt can grow an economy, but it must be done within reason. For example, back in 1900, if you wanted a house, you had to have all cash, which people would have to save a lifetime for. When banks started loaning money to working people who had twenty percent down, the economy was able to grow at a greater pace. The same went for businesses. If you could get a loan to start your restaurant, you could go in to business much more quickly.

When it gets out of hand, and youy have a world leader saying that debts don't matter, that is when it has gortten completely out of control.
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Old 12-10-2011, 05:21 PM   #15
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Originally Posted by Unobtanium View Post:
I think they understand exactly what they are doing. They don't want to fix the European problem or the U.S. problem. They WANT to kick the fiat debt-money problem down the road until an opportune time.

When is the opportune time? I don't know, but I think they have a general timeline in their sights.



There can be no other conclusion.
We know that fiat money is broken and the 'insiders' know it too.

In order to 'reset' or launch a new monetary system, it is essential to keep up appearances until the pre agreed moment, so it matters little, to them, what games they play, as long as the can still moves.

This has been obvious to me for the last couple of years.

And even if the pols are only doing the banksters bidding while they assemble their collective exit stratagies, the moment is fixed.

How long we have and how it will play out, is the bit I struggle to deal with.

p.s. im having trouble using the quote option ............
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Last edited by rblong2us; 12-10-2011 at 05:24 PM.
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Old 12-10-2011, 05:39 PM   #16
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http://hubertmoolman.wordpress.com/c.../stock-market/

I came across this site. Lot of technical stuff but more technical based on historical relationship to stocks and timing etc. Thought was very interesting and compelling.
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Old 12-10-2011, 06:14 PM   #17
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Originally Posted by rblong2us View Post:
p.s. im having trouble using the quote option ............
Looks like you accidentally deleted the "[/" portion of the closing part of the QUOTE function.
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Old 12-10-2011, 08:03 PM   #18
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I fixed the quote tag in your post rblong2us.
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Old 12-11-2011, 01:47 AM   #19
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Originally Posted by Unobtanium View Post:
I think they understand exactly what they are doing. They don't want to fix the European problem or the U.S. problem. They WANT to kick the fiat debt-money problem down the road until an opportune time.
They DO understand exactly what they are doing. And they are waiting for the opportune time. When will that be? No idea.

However, it is beginning to appear that the opportune time will not be until everyone possible has been sucked into the ECB vortex.

Right now the FED (in a roundabout way so the people don't see what is happening) is buying European sovereign debt. And we are the suckers that are paying for it. And we are the suckers that will be hit the hardest when the bubble bursts in Europe. It could easily spell the end of the U.S. as a world power.
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