global QE.

 

 

December 30, 2011, at 12:45 pm
by Jim Sinclair in the category In The News

 

Dear Friends,

This is pure global QE. The Fed provides the swaps which is a form of loan for the ECB to lend to their banks who in turn buy Euro Federal paper.

The veil is so thin and the result is exactly the same as QE in this global world with the Fed the world central bank of central banks. The slightly better than expected Italian bond issue is a hoax.

Regards,
Jim

“Banks borrowed €17.307B from the ECB overnight, a very sharp jump from the €4.321B borrowed on Wednesday and the highest level since February. Banks deposited €445.683B, still near the €452.034B record set earlier this week.”