The ECB Releases The Details Of Its Debt Monetization And Money Printing Program…” the only thing it will contribute to is making the world’s billionaires into the world’s trillionaires.”
by Tyler Durden
ZeroHedge.com
01/22/2015
Those curious to learn why Greece is the only country excluded form the ECB’ QE (for now), will not find any additional information in the ECB’s supplement on its asset purchase program. Neither will they learn why something that is in effect monetary financing, and is prohibited by Article 123, is not monetary financing. However, they will learn that the proceeds from the ECB’s money printing can be used “to buy other assets and extend credit to the real economy.” The ECB adds that “In both cases, this contributes to an easing of financial conditions.” Actually the only thing it will contribute to is making the world’s billionaires into the world’s trillionaires.
The Rest…HERE
