rantnrave Posted January 9, 2015 Share Posted January 9, 2015 (edited) Half a trillion Euros of more funny money on the way... Financial news service Bloomberg is reporting that staff at the European Central Bank have outlined plans to launch a quantitative easing programme worth up to 500bn euros. Several schemes to buy government debt were outlined according to the report. ECB policy makers are due to meet on 22 January and economists had been expecting them to launch a big effort to boost flagging eurozone economies. Edited January 9, 2015 by rantnrave Quote Link to comment Share on other sites More sharing options...
Errol Posted January 9, 2015 Share Posted January 9, 2015 Obviously this is exactly what is required. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 9, 2015 Share Posted January 9, 2015 Moar Quote Link to comment Share on other sites More sharing options...
spongeh Posted January 9, 2015 Share Posted January 9, 2015 Woohoo! Cheaper holidays Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 9, 2015 Author Share Posted January 9, 2015 Wonder where it will all end up? Wonder how Foxtons Share Price is responding... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 9, 2015 Share Posted January 9, 2015 Wonder where it will all end up? Wonder how Foxtons Share Price is responding... (-5.34%) Is is confirmed or being considered ? When will the 2007 banker prosecutions begin ? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 9, 2015 Author Share Posted January 9, 2015 Looks like a done deal to me. If so, I think any hopes of a UK HPC can be pushed back at least another two years... Quote Link to comment Share on other sites More sharing options...
evetsm Posted January 9, 2015 Share Posted January 9, 2015 this will result in more deflation, destruction of private capital until the economy is finished off, and then a humongous hyperinflation oh the joy. Quote Link to comment Share on other sites More sharing options...
LiveinHope Posted January 9, 2015 Share Posted January 9, 2015 Looks like a done deal to me. If so, I think any hopes of a UK HPC can be pushed back at least another two years... I'm so tired from waiting to be proven to be right Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted January 9, 2015 Share Posted January 9, 2015 An alternative reading is they haven't decided/actually done anything, which is the same as yesterday. Markets not reacting like it's shock and awe, except Greece isn't rated BBB- or above per the article so probably be hit - which seems like a funny game to be playing. Perhaps it is still just a political game they're playing. Quote Link to comment Share on other sites More sharing options...
R K Posted January 9, 2015 Share Posted January 9, 2015 An alternative reading is they haven't decided/actually done anything, which is the same as yesterday. Markets not reacting like it's shock and awe, except Greece isn't rated BBB- or above per the article so probably be hit - which seems like a funny game to be playing. Perhaps it is still just a political game they're playing. Kite flying ahead of Greek election? Nothing much to lose. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted January 9, 2015 Share Posted January 9, 2015 Wonder where it will all end up? Wonder how Foxtons Share Price is responding... Santander Quote Link to comment Share on other sites More sharing options...
zugzwang Posted January 9, 2015 Share Posted January 9, 2015 The Keynesian mentalists are already screaming 'too small'. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 9, 2015 Author Share Posted January 9, 2015 SantanderSo we should expect Santander UK mortgage rates to drop further? Quote Link to comment Share on other sites More sharing options...
zugzwang Posted January 9, 2015 Share Posted January 9, 2015 I'm so tired from waiting to be proven to be right You've had seven years of being proven right. The Keynesian bubble collapsed in 2008 and they haven't been able to re-inflate it. Quote Link to comment Share on other sites More sharing options...
R K Posted January 9, 2015 Share Posted January 9, 2015 (edited) The Keynesian mentalists are already screaming 'too small'. Well it doesn't even take the ECB b/s back to where it was, so probably. Other possibility (per Gavyn Davies blog) is that there's some combo of ECB action that satisfies Germany (more or less) with local CBs buying local country bonds as well. http://blogs.ft.com/gavyndavies/2015/01/07/gavyn-davies-a-critical-few-weeks-for-the-eurozone/ Edited January 9, 2015 by R K Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted January 9, 2015 Share Posted January 9, 2015 The Keynesian mentalists are already screaming 'too small'. Only marginally more than our own 375 billion pounds once you convert that to euros. 62 million people against 332 million. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 9, 2015 Share Posted January 9, 2015 (edited) Only marginally more than our own 375 billion pounds once you convert that to euros. 62 million people against 332 million. Yeah, they UK robbed their people so much more than the Europeans propose to. Which bankers should the people, if that way inclined, string up first ? Edited January 9, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted January 9, 2015 Share Posted January 9, 2015 Kite flying ahead of Greek election? Nothing much to lose. Greece election 25th. Draghi on 22nd. If I was Greek and the ECB came out 3 days before my vote with an everything but Greece type plan or one that amounted to any additional Greek sov debt risk solely carried by the Bank of Greece and local banks, I'd definitely vote for the most anti-EU party out there on principle, let alone because then not much left to lose. Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted January 9, 2015 Share Posted January 9, 2015 ^ Can't edit for some reason, so yeah I agree kite flying at least in terms of January if that sov outline is really the plan. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted January 9, 2015 Share Posted January 9, 2015 Greece election 25th. Draghi on 22nd. If I was Greek and the ECB came out 3 days before my vote with an everything but Greece type plan or one that amounted to any additional Greek sov debt risk solely carried by the Bank of Greece and local banks, I'd definitely vote for the most anti-EU party out there on principle, let alone because then not much left to lose. Is this the reason why the ecb changed there meting schedule from monthly to every six weeks?the cynical side of me things a month is now seen to be long enough for forward guidance to work ,,let them stew/guess a bit longer Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 9, 2015 Share Posted January 9, 2015 Is this the reason why the ecb changed there meting schedule from monthly to every six weeks?the cynical side of me things a month is now seen to be long enough for forward guidance to work ,,let them stew/guess a bit longer It seems to me bankers seem to think they should influence whole countries democracies. For me, the banks need to be shutdown. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 9, 2015 Share Posted January 9, 2015 Looks like a done deal to me. If so, I think any hopes of a UK HPC can be pushed back at least another two years... How so ? Euorpean buyers money being devalued, investors flocking to europe to catch their Central Banker generated meag bubble. Could spell (even more) disater for that unique and different market...London Quote Link to comment Share on other sites More sharing options...
R K Posted January 9, 2015 Share Posted January 9, 2015 Greece election 25th. Draghi on 22nd. If I was Greek and the ECB came out 3 days before my vote with an everything but Greece type plan or one that amounted to any additional Greek sov debt risk solely carried by the Bank of Greece and local banks, I'd definitely vote for the most anti-EU party out there on principle, let alone because then not much left to lose. Agree. This is so much more about politics than monetary operations at this juncture. I'd imagine Draghi would not want to be seen influencing the election outcome. Germany though? Who knows whether they really want Syriza to win or lose. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 9, 2015 Share Posted January 9, 2015 Agree. This is so much more about politics than monetary operations at this juncture. I'd imagine Draghi would not want to be seen influencing the election outcome. Germany though? Who knows whether they really want Syriza to win or lose. Yeah, just like this fella: http://www.telegraph.co.uk/finance/bank-of-england/11084339/Mark-Carney-Currency-union-is-incompatible-with-Scottish-independence.html Independent bankers look after the people of the country. Quote Link to comment Share on other sites More sharing options...
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