Showing posts with label European Central Bank. Show all posts
Showing posts with label European Central Bank. Show all posts

Tuesday, June 30, 2015

Now What? Should We Care?

June 30, 2015 European Central Bank , Greece 0 Comments
Greece ‘Will Not’ Pay Debt 

Ollie McAteer, Jun. 30, 2015, Metro.co.uk

Greek finance minister Yanis Varoufakis has confirmed Greece will not pay the International Monetary Fund (IMF) debt due today.

When asked while walking into the finance ministry about whether Greece will pay the 1.6 billion euro (£1.1 billion) due to the IMF, Mr Varoufakis simply said: ‘No.’

His comment came amid speculation that Greek prime minister Alexis Tsipras is trying to craft a last-minute deal with creditors before the payment is due and before the European part of Greece’s bailout comes to an end.

A Greek official said Mr Tsipras has spoken with European Commission President Jean-Claude Juncker, European Central Bank chief Mario Draghi and European Parliament president Martin Schulz.

More: www.metro.co.uk

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Sunday, March 23, 2014

FLASHBACK (2012): "The Fed's Ticking Inflation Bomb" --"Something's wrong with this picture."

March 23, 2014 Ben Bernanke , European Central Bank 0 Comments
By Peter Ferrara

Larry Kudlow, as usual, said it best. Writing in Investor's Business Daily on September 14, he said:
About 30 years ago, Paul Volcker launched a monumental monetary effort to bring down inflation. As Fed Chairman, he sold bonds, removed cash from the economy, and cared not one whit about rising interest rates.
 And it worked. Gold plunged. King Dollar soared, and the drop-off in bank reserves and money extinguished high inflation -- and actually launched a multi-decade period of very high inflation."


This week, current Fed Chairman Ben Bernanke embarked on an absolute reversal of Volcker's policy. He is launching a monumental effort to buy bonds and inject new money into the economy in order to reignite economic growth and job creation.
 
It is like history repeating itself, but in reverse. Gold is soaring, the dollar is falling. Something's wrong with this picture.

 Read the full story:  www.news.heartland.org
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