Eurozone Crisis: ECB’s ‘Back Door Quantitative Easing’ Lifts Markets

European Central Bank

European Central Bank (Photo credit: kumbarov)

With borrowing comes responsibi­lity or so the story goes because this story gets more like a pantomime everyday. You can make your own mind up to which one and who plays certain characters but now we have a benefactor good olde ECB and what have they offered this Christmast­ide well money of course, well they are a bank. But not just any bank but the bank of last resort and what does the one in [drag-hi] do but buy up all the debt of other countries.

Now we should all be saying well done but instead we are saying he`s behind you and his name is not Abanazar, but something much worse the ” Ghost of Christmas Of Yet To Come ” namely a huge ” Debt Mountain ” but in the meantime people will still dress up and act out the pantomime until the very last act.

The it will be CURTAIN`S
Read the Article at HuffingtonPost

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Media Digest 7/15/2009 Reuters, WSJ, NYTimes, FT, Bloomberg – MarketWatch

Media Digest 7/15/2009 Reuters, WSJ, NYTimes, FT, Bloomberg – MarketWatch

Posted using ShareThis this will be a daily update of all the indices from across the globe and  my comments on the state of how l see the markets changing. G

” The Roving Giraffe News Report ” – 15/07/09

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