A Central Banker’s Plan for Your Money

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Jim Rickards calls them “silent dog whistles.”

Through these signals, in the frequencies beyond normal human hearing… elites communicate with each other.

Their communications are public.

But their language can be so thick, so technical — so innocuous — not one in a hundred can crack it open.

Only the intended audience can penetrate the deeper message within… and that audience is their fellow elites. Continue reading

ECB not sure if Greek banks will open Monday as outflows hit 2 billion euros in just three days

LUXEMBOURG — The European Central Bank told a meeting of euro zone finance ministers on Thursday that it was not sure if Greek banks, which have been suffering large daily deposit outflows, would be able to open on Monday, officials with knowledge of the talks said.

Greek savers have withdrawn about 2 billion euros from banks over the past three days, with outflows accelerating rapidly since talks between the government and its creditors collapsed at the weekend, banking sources told Reuters. Continue reading

European Central Bank gets ready to unleash €1.1 trillion QE blitz

The European Central Bank is getting ready to announce details of the unprecedented programme of government bond-buying it hopes will lift the bloc out of recession and a vortex of falling prices.

Convening in Cyprus on Thursday, President Mario Draghi and his 25-member governing council will be signing-off on plans to purchase €60bn-a-month in government and private sector assets first announced in January.

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ECB Will Turn On Its Money Printing Machine To Fuel Needed Inflation

Sunday, a top European Central Bank policymaker described how the bank will approach an asset purchase plan to tackle low inflation in the single currency bloc, saying that such a program “would not be about quantity, but about price.”

The ECB acknowledged after its policy meeting in early April that it is open to turning on its money-printing presses to keep inflation from staying too low, though it has not yet shown any public signals of starting quantitative easing (QE) yet. Continue reading

Weapons of Last Resort: ECB Considers Extreme Crisis Measures

When there is no other option on the table but an extreme measure, you know you might be in the final stage before the collapse. The EU has been staring into the abyss for quite a long time already and every effective tool that has been used was only good enough to kick the proverbial can down the road — only to worry about it again when the same problem resurfaces, then rinse and repeat with a different technique. Whether it will collapse soon can only be told by time alone.

The European Central Bank wants to spur lending by banks in Southern Europe, but conventional methods have shown little success so far. On Thursday, ECB officials will consider monetary weapons that were previously considered taboo.

From Mario Drahgi’s perspective, the euro zone has already been split for some time. When the head of the powerful European Central Bank looks at the credit markets within the currency union, he sees two worlds. In one of those worlds, the one in which Germany primarily resides, companies and consumers are able to get credit more cheaply and easily than ever before. In the other, mainly Southern European world, it is extremely difficult for small and medium-sized businesses to get affordable loans. Fears are too high among banks that the debtors will default. Continue reading