wednesday brainstorming

1. Lies, lies and more lies

  • the EU summit will best case come up with nothing as the phony unity of Merkozy is just a cover up of the frictions which have never gone away. Only that Sarkozy blinked and Merkel goes the German way of forcing the other members into a discipline they never had and will have. The weak economies and smaller strong ones will not give up sovereignty and poker on the effect that Germany will give in at some point to a foul compromise. They will and can not as Germans population has already made to many sacrifices as the average retirement pay there may be below the one of Greece for one but eventually all future payments may fall back on Germans and no leader with any common sense could take that responsibility. Merkel may be missing leader skills but I do not think she is corrupt the way a Merkozy is who has a very big EGO and fancies the mundane life style. She is responsible for a different type of fraud though as she has been lying to the German population for 4 years as the Bundesbank has already printed 500 bil euro and distributed it to Greece Irland and spain for over 4 years – freaking unbelievable. ( check out the report from THE FAZ) – I am shocked by this ruthless SOBs
  • Two factors will determine the highly probable pullback first is the expected 25 BP interest rate cut by the ECB. Draghi an Ex Goldman partner is obeying his masters orders and already diluting the ECB rules but Germany puts  a strong resistance to his opportunistic bankster bailout strategy one could think. Today the ECB loosened the colateral rules which is a sign of desperation and the BTPs close to 100 rather are an opportunity to short thanks to Draghis window dressing manipulation. Both central banks are run now by Ex Goldman partners which should tell you who will do quite well for its trading books. The other is the summit of the EU and I doubt they can reach a meaningful agreement yet. despite Geithner pushing them as Obama wants a Xmas rally to make sure his reelection campaign starts on the right food.


4. Eigenmächtige Selbsthilfe mit der Druckerpresse

Viele meinen, der Euroraum leide unter einer temporären Krise, die erst seit dem letzten Jahr zu Rettungsaktionen geführt hat. Davon kann nicht die Rede sein. Schon seit dem Herbst 2007 haben sich die Krisenländer in riesigem Umfang selbst mit der Notenpresse finanziert, was im Verein mit einer Verlagerung der Refinanzierungskredite des Zentralbankensystems einen öffentlichen Kapitalexport von Deutschland in die Krisenländer bewirkte.

Bei der Bundesbank sind auf diese Weise Ausgleichsforderungen (Target) von bald 500 Milliarden Euro aufgelaufen, die niedrig verzinst sind und nicht fällig gestellt werden können. Hätte der Euroraum die Regeln des amerikanischen Währungssystems übernommen, hätte die Bundesbank statt dieser Ausgleichsforderungen von den Krisenländern marktgängige Wertpapiere erhalten. Das hätte den Hang, sich der Notenpresse zu bedienen, erheblich verringert.


~ by behindthematrix on December 7, 2011.

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