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The European Farce: Part 1 — ECB to the Rescue

First published at Minyanville.com http://www.minyanville.com/sectors/global-markets/articles/The-European-Farce-Part-1-ECB/6/11/2014/id/55265?refresh=1 It is only a matter of time before the ECB will be forced into QE-like money-printing schemes. In the immediate aftermath of the financial crisis, like the Fed, the European Central Bank (ECB) stepped up and made cash available to the notoriously overleveraged banking system. That, in fact, is the basic and most vital function of a “lender of last resort.” So, bravo! But now, …Read More