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Thread: ECB lends €530 billion to banks

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    Attn1 ECB lends €530 billion to banks

    After lending 489 billion in December, today the ECB lended another €530 billion to 800 banks.
    Last edited by Canell; 02-29-12 at 01:57 PM.

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    Re: ECB lends €530 billion to banks

    Quote Originally Posted by Canell View Post
    After lending 489 billion in December, today the ECB lended another €530 billion to 800 banks.
    Interesting that you list your location as the EUSSR and then roll your eyes at the ECB providing huge tax-payer hand-outs to the very capitalists that got us into the crisis in the first place. I'm pretty appalled at the ECB bank-rolling private banks with our tax Euros, but soviet-style economics, it ain't.
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    Re: ECB lends €530 billion to banks

    Can't you catch the irony in this "EUSSR" term? Where exactly do you see contradiction?

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    Re: ECB lends €530 billion to banks

    Quote Originally Posted by Canell View Post
    Can't you catch the irony in this "EUSSR" term? Where exactly do you see contradiction?
    No, I can't see the irony at all. Why not explain it?
    "The crisis will end when fear changes sides" - Pablo Iglesias Turrión

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    Re: ECB lends €530 billion to banks

    Quote Originally Posted by Andalublue View Post
    No, I can't see the irony at all. Why not explain it?
    Lol, what to explain here, the EU is called EUSSR because resembles so much the USSR in its politices.

    EU+USSR=EUSSR

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    Re: ECB lends €530 billion to banks

    Quote Originally Posted by Canell View Post
    After lending 489 billion in December, today the ECB lended another €530 billion to 800 banks.
    You would think that additional debt would make the Euro drop. Instead it rises. Gold drops. I've just got to find me a mechanic that is good at adjusting these fundamentals. Six fingers McGee, the famous card sharpster, comes to mind. These currencies of confidence must be adjusted constantly with media input and confidence building bluster and slight of hand. Keynesian , Austrian economics or smoke and mirrors. Somebody get the Windex; we need an adjustment.

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    Re: ECB lends €530 billion to banks

    Quote Originally Posted by Canell View Post
    Lol, what to explain here, the EU is called EUSSR because resembles so much the USSR in its politices.
    You mean soviet policies like bailing out huge private capitalist banks with public money? That is ironic.
    "The crisis will end when fear changes sides" - Pablo Iglesias Turrión

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    Re: ECB lends €530 billion to banks

    Quote Originally Posted by Andalublue View Post
    You mean soviet policies like bailing out huge private capitalist banks with public money? That is ironic.
    I mean...


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    Re: ECB lends €530 billion to banks

    Quote Originally Posted by Andalublue View Post
    You mean soviet policies like bailing out huge private capitalist banks with public money? That is ironic.
    This isn't taxpayer money. The ECB is similar to the Fed, the money it loans out comes from the presses, not the taxpayers.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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    Re: ECB lends €530 billion to banks

    Quote Originally Posted by Rhapsody1447 View Post
    This isn't taxpayer money. The ECB is similar to the Fed, the money it loans out comes from the presses, not the taxpayers.
    Just to clarify I'm sure you mean this in a figurative sense, right? When the Fed expands the money supply most of it doesn't literally come from the presses. It's done primarily through open-market ops.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

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