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ECB lends €530 billion to banks

Canell said:
After lending 489 billion in December, today the ECB lended another €530 billion to 800 banks. :roll:
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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.
 
Can't you catch the irony in this "EUSSR" term? Where exactly do you see contradiction?
 
Andalublue said:
No, I can't see the irony at all. Why not explain it?
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Lol, what to explain here, the EU is called EUSSR because resembles so much the USSR in its politices.

EU+USSR=EUSSR
 
Canell said:
After lending 489 billion in December, today the ECB lended another €530 billion to 800 banks. :roll:
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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.
 
Canell said:
Lol, what to explain here, the EU is called EUSSR because resembles so much the USSR in its politices.
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You mean soviet policies like bailing out huge private capitalist banks with public money? That is ironic.
 
Andalublue said:
You mean soviet policies like bailing out huge private capitalist banks with public money? That is ironic.
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This isn't taxpayer money. The ECB is similar to the Fed, the money it loans out comes from the presses, not the taxpayers.
 
Rhapsody1447 said:
This isn't taxpayer money. The ECB is similar to the Fed, the money it loans out comes from the presses, not the taxpayers.
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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.
 
So what... the Fed does it all the time.. The only difference is that these loans are 3 year instead of the usual shorter term that are used daily. A big wupti do...
 
StillBallin75 said:
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.
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Figurative in the sense that the Fed isn't actually printing cash, they are increasing the size of the assets or liabilities on it's balance sheet. The capital, or money, used to finance these loans is created. In this instance, the ECB isn't directly increasing the money supply as the Fed would do with open-market operations since the ECB can't employ quantitative easing. They are effectively flooding the capital markets with cheap loans that don't have to be paid until maturity. I just said this money comes from the presses in order to distinguish it from taxpayer money.
 
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