ECB & Fed, Pushing on a String Continuum;

 

-------- Forwarded Message --------

Subject:	ECB & Fed, Pushing on a String Continuum;
Date:	Thu, 10 Mar 2016 09:33:14 -0800
From:	Len Cranford
To:	Chris D. , pyrigenes , lefana@shaw.ca

{The more things change the more they stay.....You know. With Interest Rates at or near ZERO at the Central Banks,  They groan like Sisyphus pushing the stone in Hades, but You are not to know this.  The old saying; "Pushing on a String" or John Exter`s great quote at the N.Y. Fed Branch; I`ll repeat it from memory;
 "The Achilles Heel of the fractional reserve banking system is; You can`t force people to borrow money, and you can`t force people to spend money. In these two, are the potential Nemesis of the System."

 

Draghi Fires Bazooka, Blows Own Balls Off

 http://market-ticker.org/akcs-www?post=231214

So much for the "whatever it takes" nonsense.

The pop that the markets got when Draghi stepped to the microphone to announce the newest ECB meeting lasted about a half-hour and basically all of it is now gone.

Why?  Because the Euro is strengthening, which is of course exactly the opposite of the predictions (and desires) of the ECB.

The reason?  His "bazooka" was in fact a rusty chainsaw and went right up the chute of Europe -- running.

Good luck folks.