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ECB Buys €1 Trillion Bonds but Deflationary PANIC Takes Over!

from The Money GPS:

Keiser Report: Leprechaun Economics (E965)

from RT:

Max interviews Constantin Gurdgiev, Professor of Finance at Middlebury Institute of International Studies, about the Apple tax ruling and Ireland’s fight to decline the €19 billion payment due.

Revealed: ECB Secretly Hands Cash to Select Corporations

by Don Quijones, Wolf Street:

Expanding its Program of Financial Darwinism

In June, the ECB began buying the bonds of some of the most powerful companies in Europe as well as the European subsidiaries of foreign multinationals. This pushed the average yield on euro investment-grade corporate debt to 0.65%. Large quantities of highly […]

The ECB, Literally Going Off the Rails

by Andy Hoffman, Miles Franklin:

First, I’m going to explain something I’ve learned from watching Precious Metal markets, tick for tick, for the past 14½ years – back to times when the dissolution of the Euro, hyperinflation, or a collapse of the global banking system weren’t even considered, much less a strong possibility. […]

EU Bankster Contagion

by Michael Hudson, Michael Hudson:

Summary: Great Britain’s decision to leave the EU presages a global financial meltdown that could resemble the 1930s. Banks will demand massive bailouts. We will be forced, if the banks are bailed out again, to endure harsher austerity and a prolonged depression.

Great Britain’s decision to leave the European […]

ECB Blows €400bn on “Brexit Black Friday” Bank Bailouts

by Wolf Richter, Wolf Street:

Dealing with a Financial Crisis under cover of Brexit Chaos

Remember TARP, the Troubled Asset Relief Program that the US Congress approved to bail out banks and other companies during the Financial Crisis? $700 billion were authorized, later reduced to $475 billion. The Treasury eventually dispersed $432 billion. I […]

Brexit Chaos to Serve as Cover for ECB Bank Bailouts

by Wolf Richter, Wolf Street:

European banking crisis gets impatient.

Over the course of the last few months, Brexit has become one of the biggest catch-all preemptive scapegoats of recorded human history. Even far beyond the old continent’s porous borders, politicians, central bankers, and economists are warning their respective populations to brace for a […]

The US Joins Europe And Begins Austerity, Welcome To The Collapse – Episode 997a

from X22Report:

Obama is now pushing austerity on Puerto Rico, lower wages, cutting health care and more. Retail sales decline in May and the beginning of June. Business inventories decline. The Baltic Dry Index declines again. Smart money is continually leaving the stock market. Deutsche Bank says the global economy has a 55% chance […]

European Central Bank To Bailout European Multinationals

by Luis Miranda, The Sleuth Journal:

The European Central Bank (ECB) takes a new step in its policy of providing cheap liquidity to the euro zone.

The panorama of zero and negative rates and the quantitative easing program (QE) will now be supported by the bank’s purchase of corporate bonds. That is, corporate debt.

[…]

The German Revolt Begins—-Commerzbank Plans To Hoard Billions In Vaults Rather Than Pay Negative Rates To ECB

by ZeroHedge, via David Stockman’s Contra Corner:

As The ECB threatens deeper and deeper NIRP, because that’s what the ‘economy’ needs, it seems unintended (though entirely foreseeable) consequences abound. Just three months after Munich Re – the world second-largest reinsurer – started buying gold and hoarding cash to counter negative rates, in order to […]

Deutsche Bank’s Shocking ECB Rant: Warns Of Social Unrest And Another Great Depression

from Zero Hedge:

“In the 1920s the Reichsbank thought it could have 2,000 printing presses running day and night to finance government spending without creating inflation. Around the same time the Federal Reserve allowed more than a third of US deposits to be destroyed via bank failures, in the belief that banking crises where […]

ECB Admits: “We’re the Magic People” in a Clown Show

by Don Quijones, Wolf Street:

Negative-Interest-Rate absurdity is another “rabbit out of the hat.”

For the second time this year, Spain’s caretaker government just managed to sell 50-year bonds in a €3 billion ($3.4 billion) deal. Despite maturing in the year 2066, when many of us won’t even be alive and the duty to […]

The War On Cash Has Begun, ECB Fires The First Shot

from X22Report:

Aeropostale file for Chapter 11. 90% of the households have lower net worth now than in the 70’s.Durable goods decline signalling a collapse of the economy. Trade deficit tumbles. Manufacturing continue declines. ECB fires the first shots and eliminates the 500 euro, the $100 is next.

[…]

MARKET MANIPULATION GOES MAINSTREAM, AS THE POWERS THAT BE TURN ON EACH OTHER

by Andy Hoffman, Miles Franklin:

The war for $1,300/oz – which gold, aside from a Cartel-capped blip 16 months ago – hasn’t traded at for nearly two years – is ON! The Cartel, fresh from having lost its 2½ month battle to defend its previous “line in the sand” at $1,250/oz – having taken […]

Another “Conspiracy Theory” Confirmed: ECB Finds Widespread Trading On Leaked Inside Information

from Zero Hedge:

“information of many macroeconomic announcements is known by some market participants in advance” – European Central Bank

Remember when it was merely another conspiracy theory that “some” traders “trade” (with zero risk) with the benefit of leaked material non-public information? As of moments ago it is merely the latest conspiracy fact, […]

Munich Re Gives The ECB The Middle Finger, Owns Almost 300,000 Ounces Of Gold

from Zero Hedge:

Last week, we reported on the ECB’s decision to cut the interest rates and how Mario Draghi said ‘helicopter money’ is ‘an interesting concept that is being studied’. In the accompanying Q&A session, Draghi also said he did not expect the ECB would have to reduce the (already negative) interest rates […]

ECB’s bazooka has not run out of ammunition, says chief economist

by Doug Kass, Telegraph:

The European Central Bank is prepared to slash interest rates deeper into negative territory if the economic outlook deteriorates, according to its chief economist.

Peter Praet insisted that the central bank had not run out of ammunition as he left the door open to pumping cash directly into the real […]