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Looks like we can all go home now. An ECB official tells a reporter for Italy's Linkiesta,...

Looks like we can all go home now. An ECB official tells a reporter for Italy's Linkiesta, "Don't worry, ECB will buy Italian bonds to calm this eurozone turmoil."
Comments (22)
  • Amazing how being big helps.. Greece had to go through riots, protests and painful Austerity measures but Italy allegedly being back stopped in a whim....

     

    Lets see whether, or how long the markets will buy this...
    7 Aug 2011, 08:27 AM Reply Like
  • Fake money to buy fraudulent debt supported by vile propaganda so the elites can continue their self obsessed , degenerate and grasping ways now constitutes economic strategy in the EU, bicoastal US and Japan
    7 Aug 2011, 08:35 AM Reply Like
  • So... where is the ECB getting the money? Unlike other, real central banks, they can't simply print. They have to get permission of the "sovereign" nations in the eurozone to do so.
    7 Aug 2011, 09:03 AM Reply Like
  • 1000 point rally on its way,,.
    QE 3 is in the works.This time it will be more powerful as feds will not only buy stocks but also houses.watch out shorts.If you know Ben He will not let this market crash at any cost.Time to buy stocks.
    long bgu.tna as of friday..
    7 Aug 2011, 09:03 AM Reply Like
  • Brave buys before the downgrade.
    Looking back, after the downgrade, maybe foolhardy.
    But I hope you make a million with them.
    7 Aug 2011, 09:34 AM Reply Like
  • Asif....you mean the 1000 point rally, the one the is the beginning of the hyperinflationary depression?
    7 Aug 2011, 10:15 AM Reply Like
  • Oh, how I love guys like you. Hope isn't a strategy. How about a direct, personal bet with me. We'll both put up $10,000 in an escrow account. At the end of six months, if you've seen a 1,000 point rally, you get all the money. If not, I do. I'm serious. Contact me if you're interested.
    7 Aug 2011, 02:00 PM Reply Like
  • until mid-November 2012, that is...
    7 Aug 2011, 05:16 PM Reply Like
  • Money is NOT wealth. Wealth is people, technology, land, buildings etc. When you print money weath does not change.
    7 Aug 2011, 09:23 AM Reply Like
  • This report is a Twitter statement?
    Seriously?
    Has anyone got an actual ECB statement about this? They have about 10 hours to issue a statement if they want to have any effect on the early markets. I read they are meeting on Sunday afternoon.
    7 Aug 2011, 09:40 AM Reply Like
  • I don't think the point of the reporter's post is to report that the ECB is buying Italian paper. It's already pretty certain the bank is going to do this.

     

    I think Goria is trying to make light of this bureaucrat's curious confidence that this set of ECB purchases will stem the EU debt issues any more than previous sets of buys did.
    7 Aug 2011, 10:00 AM Reply Like
  • Happy times again!!

     

    Printing money maintains the status quo, benefittting the upper and lower classes at the expense of the middle class....

     

    The ponzi continues unabated...
    7 Aug 2011, 10:05 AM Reply Like
  • August 7th brings new urgency to the media analysis of the twined US and EU crises. American readers will find the following foreign reports and commentary to be of interest.

     

    Here is a selection on the aftermath of the debt ceiling confrontation in the US. Essentially the view abroad is that the US crises is essentially political; an ever-increasing political deadlock of growing toxicity.

     

    www.economist.com/node...

     

    www.economist.com/blog...

     

    www.theglobeandmail.co.../

     

    Here is a selection on the EU. Essentially the view within the EU is that the leaders of the major EU member States have for too long simply managed each stage of the fiscal and economic crises rather than tackled the root causes.

     

    www.economist.com/node...

     

    www.economist.com/node...

     

    business.financialpost.../

     

    www.irishtimes.com/new...

     

    www.guardian.co.uk/bus...

     

    ecfr.eu/content/entry/...

     

    www.dw-world.com/dw/ar...
    7 Aug 2011, 10:56 AM Reply Like
  • "Essentially the view within the EU is that the leaders of the major EU member States have for too long simply managed each stage of the fiscal and economic crises rather than tackled the root causes."

     

    It seems that the game of "whack-a-mole" has crossed the pond. Unfortunately for the EU, it appears that each successive mole is substantially larger than the "hammer" used for "whacking".
    7 Aug 2011, 01:28 PM Reply Like
  • Old Trader -

     

    Right you are.

     

    Unfortunately, there is a real (hopefully not large) possibility that ‘the game of "whack-a-mole"’ will at some point later this year return to North America to the grief of some US States, Canadian Provinces and Local Governments in both our countries.
    7 Aug 2011, 04:26 PM Reply Like
  • bob adamson,

     

    I'm sure that I'm not the only one that will be watching what sort of effect S&P's downgrade of US debt will have on munis. (Even though I have no holdings in that sector).
    7 Aug 2011, 04:37 PM Reply Like
  • A few words of thanks:

     

    to whoever on SA is doing the global n fx market currents - excellent job- love the humorous asides, have added these to my own company facebook page due to your inspiration (suggest you start keeping lists of various European language curse words - good for a laugh if sprinkled in occasionally

     

    to Mr. Adamson, for his always educational & useful comments
    7 Aug 2011, 11:10 AM Reply Like
  • Starring Kevin Bacon as the unnamed ECB official.

     

    www.youtube.com/watch?...
    7 Aug 2011, 12:50 PM Reply Like
  • Germans have to save the euro, like it or not.

     

    Watch the last 6 mins as to why.

     

    www.bing.com/videos/se...
    7 Aug 2011, 03:35 PM Reply Like
  • 1980XLS -

     

    Very true.

     

    Both the German banking system (which is more fragile than most assume) and German exports to southern Europe (which are a large component of Germany's economic demand) would tank if the EU and Euro implode.
    7 Aug 2011, 04:31 PM Reply Like
  • Exactly, Bob. The whole thing is a house of cards, and while the "Domino Theory" was a bunch of BS in South East Asia, it may apply here. We are in a very interdependent world. What happens if Europe goes into the tank?
    7 Aug 2011, 04:55 PM Reply Like
  • How much, when, and what rate? And will they continue to lend and guarantee them? I suspect this is just another bucket of water to fight the EU structure that is burning down. It will not solve anything and the flames will just pop up again in a week or month later.

     

    The EU goes from crisis to crisis without actually solving anything. Their crisis are no longer even crisis. They are just the permanent state of being for them. What happens to Greece is not an extraordinary event since it has been going on for 2 years now. We can go home because we know they aren't going to solve anything this time or next or the next. We can go home because we know this fire will burn down the house. If not now later. There is no one around in Europe who is even willing to put up an honest effort to put out the fire.
    8 Aug 2011, 12:22 AM Reply Like
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