The Phaserl


Legend Says More QE Coming But Warns It Will End In Tragedy

from KingWorldNews:

According to their agreements, it is illegal for Europe to engage in QE. Technically they are not allowed to do that. Of course they have gotten around this by effectively having the ECB loan an unlimited amount of money to the banks. The ECB demanded the collateral for the loans be the sovereign bonds in Europe. So this forced the banks to buy the bonds and bring down interest rates in troubled countries like Greece, Spain, Portugal, and Italy. It just goes to show that in any major country or bloc of countries, rules don’t matter. That’s what this all boils down to and people should understand that reality.

I don’t know how they will get around the restrictions this time. Maybe they will cut rates from .25 to .125 or .10. What else can they do? Well, we already saw them loan money from the ECB to the banks and force them to buy bonds and deposit those bonds with the ECB as collateral.

Victor Sperandeo continues @

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