Search This Blog

Thursday, August 2, 2012

European Central Bank President blows more hot air - Makes more Promises but delivers nothing (The fact is that there is nothing he can deliver!)

Editor's Note: This whole save the world Economy charade is getting very tiresome. The very same policymakers who got the world into the Economic jam it is in at present; a jam from which there is no escape, keep lying through their teeth and making more promises that they cannot deliver. They know very well that they cannot deliver on these promises, and even if they did the consequences would be dire. If the ECB and the US Fed begin buying bonds openly on the market, it would lead to high inflation and even hyperinflation in the near future. So they would only be INFLATING the problem, not resolving it. Why have they not been able to resolve the problem so far? Well, simply put, there is no resolution to the problem! If there was, the solution would have been found 4 years ago. Moreover, the very same people pretending to resolve the problem have deliberately created the problem. By deliberately created the problem I mean that they (the bankers and politicians) worked hand in glove to change laws so that policies could be implemented that would lead to a catastrophic Global Economic Failure in the future. That future has now arrived; this future was foreseen by The ECB, by the FED and others involved in implementing the policies that have brought us here; so the intent is to collapse the System not to save it. It is like a doctor giving a patient a heart attack inducing drug, and then putting him of life-support and pretending to save him while slowly cutting off oxygen to the patient. That is what is being done, the Global Economic patient has been deliberately put on life-support after being given a terminal disease, and rather than administer a cure, more poison is slowly being injected into the patient's IV to ensure a fatal outcome. And it is all being done by design; if anyone believes otherwise, they are in denial!
European Central Bank (ECB) President Mario Draghi speaks during the monthly news conference in Frankfurt June 6, 2012. REUTERS-Alex Domanski-Files
(Reuters) - The European Central Bank will gear up to buy Italian and Spanish bonds on the open market but would only act after euro zonegovernments have activate bailout funds to do the same, ECB President Mario Draghi said on Thursday.
Draghi indicated that any ECB intervention would start at the earliest in September and would depend on countries in trouble on bond markets making a request and accepting strict conditions and supervision.
He also indicated that German central bank chief Jens Weidmann had expressed reservations about bond-buying and further efforts would be needed to persuade the Bundesbank before a final vote to take action.

No comments:

Post a Comment