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| User Info | Look, It's an ECB Member Dissembling!; entered at 2010-05-05 12:45:34 | |||
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Gs_hedge Posts: 1333 Registered: 2008-02-09 
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Quote:What do you think the chances are of outright debt-monetizing QE by the ECB? I believe ECB will follow the path laid out by FED. EURO may not have the explicit backing from a treasury... but it is the currency of the union and is dependent on the productivity of the citizens, directly or indirectly. Since everyone (including me of all people) is talking about direct monetization, that won't be done. Instead everyone will pretend that it is all 'debt' based... wherein someone hands over an worthless 'asset' to ECB and gets paid in par. So this approach provides a fig leaf to cover up the monetization. Are you doubtful?. See: Federal Reserve 2010-05-05 12:45:34
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