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"Our monetary policy is very expansionary," says the ECB's Jens Weidmann, "fill(ed) with...

"Our monetary policy is very expansionary," says the ECB's Jens Weidmann, "fill(ed) with concern" over calls to give the bank a Fed-like dual mandate. The best way to ensure growth in the EU is to deliver stable prices, he says. The ink is barely dry on LTRO 2 and already there are "calls for a 3rd or 4th round," he says (shaking his head, one might imagine).
Comments (1)
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    Expansionary?

     

    Draconian is a better word. Since the FED is telling everyone, not the other way around, Weidmann better get used to having no authority or support as long as FED is calling the shots on the Euro. Germany burned all of their ECB bridges when Stark left.

     

    * Euro cheerleaders beware, as long as the FED controls USD Monetary Policy, (and USD as world reserve currency) they also control the currency policy of the entire global system, write this down, YOU WILL SEE, AND HEAR THIS AGAIN.

     

    After the GAO Audit of FED, you can see exactly what each of Europe's biggest banks borrowed, $16 Trillion USD, and there is no way they can begin to pay it back, FED wins.The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit.

     

    See:
    http://1.usa.gov/HqrkOA

     

    Citigroup: $2.5 trillion ($2,500,000,000,000)
    Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
    Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
    Bank of America: $1.344 trillion ($1,344,000,000,000)
    Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
    Bear Sterns: $853 billion ($853,000,000,000)
    Goldman Sachs: $814 billion ($814,000,000,000)
    Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
    JP Morgan Chase: $391 billion ($391,000,000,000)
    Deutsche Bank (Germany): $354 billion ($354,000,000,000)
    UBS (Switzerland): $287 billion ($287,000,000,000)
    Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
    Lehman Brothers: $183 billion ($183,000,000,000)
    Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
    BNP Paribas (France): $175 billion ($175,000,000,000)

     

    When those banks can't pay, they will offer gold bullion, and the US gets even more gold to balance their new "gold backed" currency (SDR), making it stable enough to become the new world reserve currency, getting clearer?

     

    Did you expect anything else?

     

    A giant reset, this time in favor of the US.

     

    House wins, and it's about time.

     

    If one (1) of these banks defaults, (it looks like with $354 Bil USD debt to FED it looks like Deutsche Bank will be the first to go face down) they take the entire German economy with them, as ALL of Germany's (read EU) largest companies have Deutsche Bank as their house bank, congratulations on the success of fractional reserve banking.
    19 Apr 2012, 11:58 AM Reply Like
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