“What will you do?”
The question was still resonating in the press conference room. Mario Draghi was thinking fast. He knew that the Tractatus Maximus did not give any room for the answer, even worse, there was no answer to be found.
If he answered as the Germans wanted, saying that every one must do the school homework at home, many countries will default the next morning.
If he has answered as the UK wanted, saying that we will stand united, The Euro will be worth less than a penny the next morning.
If he answered that as the Italians said, everything is under control, it would mean the end now.
In the meantime the two fresh Euro members, Slovakia and Slovenia, ex communist , now capitalist wannabees, were vigorously nodding their heads so hard that they were falling off their necks, He knew that this two understood nothing at all of the whole system and what was at stake.
A faint voice, getting louder and louder by every millisecond was saying something. The faint figure of a woman splashed in light, blond and slender. The apparition was singing with a clear voice in Mario Draghi head, louder and louder. Che sera sera…whatever, whatever will be will be….is not ours to see… the man who knew too much.
Whatever that is, Whatever, Mario thought .Say whatever, just say it,damn, he thought.
“Ladies and gentlemen” Mario said with his typical half sarcastic and half cynical smile,
“We will do Whatever….It Takes.”
(excerpt taken from the “The fake autobiography of Mario Draghi”, Ghost press publishers, 2020, on sale now)
Lets start with QE -quantitative easing-Wikipedia;
“Quantitative easing (QE), also known as large-scale asset purchases,[1][2] is an expansionary monetary policy whereby a central bank buys predetermined amounts of government bonds or other financial assets in order to stimulate the economy and increase liquidity.[3][4] An unconventional form of monetary policy,[3] it is usually used when standard monetary policy has become ineffective at combating too low inflation or deflation.[5][6][7][8] A central bank implements quantitative easing by buying specified amounts of financial assets from commercial banks and other financial institutions, thus raising the prices of those financial assets and lowering their yield, while simultaneously increasing the money supply.[9][10]”
Well, after reading all this mumbo, it goes like this; one Central Bank buys debt by giving out of thin air money for free to some Bank or some Corporation for some debt IOY which might be just junk, but it is good to squeezze someones balls and make money out of it anyway.
Then the satirical fun part comes. This buying and exchanging two Positive/Negative types of money ( fresh “cash” for debt “illiquidity”) increases Money supply !!??? Expansionary monetary policy??
What a scam of intelligence.
Holy cow!
And this is Wikipedia?
We all now know that banks do not lend reserves. Do we, yes we do.
Even the Bundesbank discovered it lately, after some hundred years ago of thinking, see the discovery of the wet water.
So what the f,,ck, who is increasing what? Why the banks need this money, when it is just an accounting operation for them and the same goes nominally (we will not open the Pandora box of seigniorage here, yet) for the Central Bank.
The pals are swapping the positive and negative thin air.
But from hereon to make claims that this expands the money supply, you have to be stoned from the 60ies on up to now on whatever substance.And you are dead stoned. Banks lend money, point, No reserves whatsoever. They do not need the expanding money supply which they get from the CB and nothing is expanding if they do not lend.
Now , we go and take a test,so we go to the Bank and say;
Hi, we heard that you are expanding the money supply.Please give us some of it, and please give it to us , but not in the form of credit, since this money came from the Central Bank, and they claim, even Wikipedia does, that it expands the money supply. If you are serious, you have to give it to us and that will be the only way to expand the money supply.
It is the supply side economics.
(two statements in one, entangled)
The Bank answers;
Hi, we are just now calling the police and this what you are saying is just a polite way to make a robbery.
(collapse of the money supply, end of scene)
End of the test of the expanding money supply. You are running away.
BTW, the positive and negative side of money?, Is that the reason there is the card named Visa Electron card? You know,positive and negative electrons, and the collapse of the wave function, to buy a Bled cremeschnitte while changing instantly, more fast than the speed of light,action at distance QM, your account balance from positive there (Visa masters) to negative here (your account) ?He he, how handy the wave collapse comes in and luckily there is the cremeschnitte at the end of the process.
This is a serious joke, anyway…. have to expand it…
The only thing which happened is that the yield has fallen.
Now the QE has in fact doubly vacuumed the money from a state without its own Central Bank as are all Eurozone countries. See the Witchdoctors Beggars Law- if you are short of one euro and you borrow one euro, you are short of two euros. The debt went out of the market and the money paid for it went nowhere, it sits on the bank balance sheet and the bank is pretending to be liquid.
And we are back to the Eurozone whatever it takes syndrome.By saving Eurozone countries from the speculation risks on their debt, nothing happened.OK, maybe you are satisfied that you are still a Walking Zombie, basically bankrupt but pretending to be alive. And by austerity measures, you are sinking in your grave, so there will be no Walking Zombies around at night to scare the drunks…
But there is also a catch here. There is no difference between a lending and a speculating bank.They are the one and the same in this incestuous affair. Glas Steagal act is almost gone, remember. The bank has it own investments funds and the interbalance flow is absolutely opaque, So, The banks with this inner balance liquidity can do a lot of things, back to back,speculating themselves on any market.. or lend to the preferred customers this new liquidity. And the Pyramid grows and the bubbles pop an pop.. Making bubbles, bloww here bloww there,.
See. Positive Money UK case, much better than the Eurozone where QE went for the corporations bonds;
The problem was that the money created through QE was used to buy government bonds from the financial markets (pension funds and insurance companies). The newly created money therefore went directly into the financial markets, boosting bond and stock markets nearly to their highest level in history. The Bank of England itself estimates that QE boosted bond and share prices by around 20% (Source). In theory, this should make people feel wealthier so that they spend more. However, 40% of the stock market is owned by the wealthiest 5% of the population, so while most families saw no benefit from Quantitative Easing, the richest 5% of households would have each been up to 拢128,000 better off (according to Strategic Quantitative Easing, p28, by the New Economics Foundation).
NOW. Lets be clear. We are maybe lucky in the Eurozone, Mario Draghi twisted the rules and indeed the ECB QE is illegal or just on the brink of being so, depends how creatively you read the Tractatus Maximus.
But without it-QE- the Euro is gone.
Or maybe we are very unlucky. The side rules for the QE are killing the place. And the new Macron Merkel plan for fixing the Eurozone is the best propaganda spin, but it will last only till the next crisis and then the spin will puff,vanish, you have hit the slit and the wave collapse will show its nature, just pure probability and spin, but the hard fact of the non existent Lender of the Last Resort will show the end of the propaganda.
See Bill Mitchell more on that, he is the expert.and take links seriously, they there to read them.
http://bilbo.economicoutlook.net/blog/?p=38852
http://bilbo.economicoutlook.net/blog/?p=36809
But since all this is and it will be purely a massive waste of Time, lets see what the Chinese are doing;
LInk Ellen Brown
We have to recognise the skill behind the Chinese growth.They have learned the nature of money. They know how to expand the out of the thin air nature of money into a real thing, like iron, railroads, Silk roads , and …. The double shrinking Eurozone basics and the Chinese expanding real money supply.
Nothing to compare here, just declare defeat, please, it is a waste of time for the Eurozone.You have sold all of your blah blah Spirit of the Times to the Chinese in a not so far future.
But the Chinese growth comes at a huge price of dead environment, dead water and no air.. and the Ai controlled Chinese citizens Zombies.
Chinese are there to be and act as the World biggest deflationary force, keeping prices depressed, buying foreign debt in exchange, but the second law of thermodynamics shows the disaster consequences.
The current cycle of living- Extract-Use-Throw- Junk
Chinese expansion, yet to come in full force, up to now provoked the end- foreclosure- of many types of manufacturing in the Eurozone, with the exception of the outsourcing to the former communist European Union new members where they do it for a pittance.. The Austerity model is reshaping a new chain value Pyramid with on top the Germany, meaning the chain of what is left and not overtaken yet by the Chinese, basically the automotive manufactoring fashion hypnotised EU consumers.
Chinese provoked the end of, solar , textile industry (ok, Bangladesh, etc, is another bright example of the bright future for work),shoes, consumer electronics,semiconductors and processors.. etc.They do it on a basic quality levels and much cheaper.Only some high end stuff stays in The Eurozone..
The so impoverished middle and working class are forced to buy this Use-Throw-Junk due to falling purchase power. The way out is the credit (card) indebtedness of the households which is keeping the debt driven system afloat . That is the famous house hold economy, he he, so loved by the neoliberal economists as a way to explain the society .
Living within your means, of course on credit and debt.
It is, in fact, a very cunning plan when you put together the puzzle.
In this non stop internal devaluation paid by the people and the environment, because of the so called globalization, which must not include any signs and rules of the fair trade or sustainable economics,over 30% of the Eurozone citizens are and will be on the brink of being homeless , not able to pay basic bills, like electricity, water, housing rents,all this in next two decades, when the young and not so young precarious facebook idiot generation will see their zero pensions and savings. And more of 20% will be on the brink of basic standards of living, that number is the ex middle class.. Adding to this 50% another 15% of the losers in the battle with the Artificial Intelligence, and the Walking Zombies will spread thru the Eurozone.
Eurozone-There is no need for people with decent personal incomes
Summasummarum, adding all up, it is clear that; seeing the above mentioned numbers which will reach over 60% of people which could not be consumers or customers, complete disinterest of the masters of the Eurozone in the persons income, social, cultural life and spending, means only two things, or to cut it short, it is twofold.
The masters are complete ignorant and their plan is to get rid of the 60% of the population as a disposable waste. The have found out they do not need them to spend, work, buy, live, even retire,and thus it is the logical conclusion that they think the future economy will not be based any more on the spending capacities of the Eurozone citizens. The demand side- the purchase power of the Eurozone inhabitants is irrelevant for the future Eurozone structure of its society.What type of society is this new master plan, one can imagine.
It is the Junk economy, a waste of the time and people.
Basically both of the models mentioned above are unsustainable. Certainly the Chinese one is a winning one, but the cost is at the end the same, only it comes with different values.
The Optimistic Solutions;
It is investing. But not the Chinese way. It is called investing in Repair Economy
Repair economy is the solution for the decaying Eurozone. No new production, but hydro, forest, geology , green suburbia, green housing transport,culture and arts, new, fast and Ai repair. You know exactly what is needed,If you do not, ask below…
The New Troika of Witchdoctors and Healers
If countries in the Eurozone do not know how to fix the environment, green housing including the migrants and all needy, transport, health and services,pensions and solutions for the elderly the Witchdoctors Troika and the Healers will be sent to intervene on the new Tractatus Maximus basis. The new Arc of Alliance, the last Noah Boat.
They will restructure,country by country, zone by zone, pour debt free money and put in run the repair economy, which will boost the repair growth led Eurozone.
Universal Citizen Income is one of the steps to full occupation. The UCI is the subsidy way for the private sectors to stay competitive, without the need to raise wages and so become non performing on the global markets. Exports as a way to survive , in this model, are not essential.
There is room for everybody in this Repair Economy.
ETC…
WHATEVER IT TAKES,,,, FOR A DISASTER
But, all this is a tale, as all on this site.
Except for a very few, until now, decent Eurozone countries, where the local oligarchy is still caring about the society when counting peanut money left to them from the taxes of the persons incomes (forget the corporations taxes)living there,
The fact is; sedimented, outdated ,non performing ,corrupted, non democratic, familystic mafia style clientele ruling, nepotistic, cheating, lying greedy,egoistic,burocratic stupidity,mass idiocy,mass self manipulation,trolls, agents provocateur, sclerotic, sycophants of all kinds,
implanted implants in somebody else mouth,smiling as your friends.
“Politics” is derived from the words “poly” meaning “many”, and “tics” meaning “blood-sucking parasites.”- urban dictionary
When the so called Elites pretend to represent your class, do remember; you are not represented, so they will instead represent you,when the local Elites turn into an Oligarchy of crooks working for some corporations or for their inner masonic or any carry cargo cult, they carry your end in the bag.
And all this crooks, small , big medium, as their voters and clientele are, are not going to call any repair Troika. It disrupts the business of dog eat dog.They hate and fear the repair economy and will do Anything to prevent that solution, unless you kick them out, but they love to change faces..
It is here the true whatever it takes for a disaster. And it is real.It is Whatever it takes for a disaster, here and now
Shut up with the climate change propaganda. Nobody is doing nothing, look at the graphs of the constant rise of oil consumption,or carbon, you, perverted Monkey cheater.
PS, hmm Russia bear is missing here, but since they could not even make up till today a motorway between Moscow and St Petersburg -Leningrad,and the only export being Novichok,in english it means New, newness, innovation gas,the Oligarchy are always nervous so they export nerve gas…. nothing new.
Yours, Whatever,
Whichdoctor, march ides