Europe's new plan: to give more free money to banks

breathlessz

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Quote from: TheCoinGrabber on March 26, 2019, 01:56:45 AM

Quote from: Naida_BR on March 25, 2019, 11:10:00 AM

Quote from: TheCoinGrabber on March 25, 2019, 08:22:17 AM

snip

Instead of giving money to save banks, governments can make some public spending in terms of transport infrastructure (build roads, stations, airports etc.) that will help the trading of goods between countries.
Moves like these can improve the trading balance of the EU, but they insist of trying to protect the banks in this vicious cycle that the economy has fallen.

Makes me wonder if EU is also doing what China is doing, offering loans to smaller countries to build up so they can keep buying Chinese goods. Of course we know the strings attached but the thing is, the scheme is to keep the trade flowing.

we just wait for the policy, such a strategy is a strategy to bind a country to be able to use its products, so that they have a market and benefit from the loan funds, tactics that are quite wise

TheCoinGrabber

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Quote from: Naida_BR on March 25, 2019, 11:10:00 AM

Quote from: TheCoinGrabber on March 25, 2019, 08:22:17 AM

snip

Instead of giving money to save banks, governments can make some public spending in terms of transport infrastructure (build roads, stations, airports etc.) that will help the trading of goods between countries.
Moves like these can improve the trading balance of the EU, but they insist of trying to protect the banks in this vicious cycle that the economy has fallen.

Makes me wonder if EU is also doing what China is doing, offering loans to smaller countries to build up so they can keep buying Chinese goods. Of course we know the strings attached but the thing is, the scheme is to keep the trade flowing.

sebinjohn

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Hi!!

With the European countries tottering on low growth trajectories, low birth rates, high deficits a situation like the US in 2008 is bound to happen.

Naida_BR

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Quote from: TheCoinGrabber on March 25, 2019, 08:22:17 AM

Government always ruin whatever they throw money at. Even more infuriating is that these bankers feel entitled to such subsidies. All they'll achieve by printing more money is weakening the economy in the long run.

Best of luck to everyone. Once the next crash comes, it's gonna be much worse.

Instead of giving money to save banks, governments can make some public spending in terms of transport infrastructure (build roads, stations, airports etc.) that will help the trading of goods between countries.
Moves like these can improve the trading balance of the EU, but they insist of trying to protect the banks in this vicious cycle that the economy has fallen.

TheCoinGrabber

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Government always ruin whatever they throw money at. Even more infuriating is that these bankers feel entitled to such subsidies. All they'll achieve by printing more money is weakening the economy in the long run.

Best of luck to everyone. Once the next crash comes, it's gonna be much worse.

sclmte

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Blockchain is a great opportunity for Europe and Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies .

Btchunter3333

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Will not be good for economy in EU to print more money and release on market. But this is it, we can't do nothing only to talk here and wait and see what will happen.

incomefromcoins

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Europe new plan will increase inflation and become one more Venezuela in the coming future. If they implement these kind of foolish plans

cellard

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Quote from: BitHodler on March 13, 2019, 04:52:29 AM

Quote from: Crypdon on March 11, 2019, 02:27:47 PM

Printing new money is the only thing they know when the economy tanks. This great strategy has destroyed the lives of many in venezuela who then turned to bitcoin Wink

Printing money is shit, but in this case it's not printing money that made Venezuela sink deep, but the greed and mismanagement of one single person. Maduro is an incompetent bastard that shouldn't be in that position.

Every country prints money, but the way you do it makes the difference. Based on how hard you suck as government, you try to compensate that by filling up the gaps you didn't manage to fill up because of your incompetence.

Admittedly, the sanctions against Venezuela make it more difficult to be competitive on the global market, but still, the way Venezuela is fucked up is only the result of the shitty government there and nothing else.

The main point is that there's no country that can be independent from the current fiat empires, if you do not comply with the US, you will need to be another giant yourself as China or Russia is, otherwise you have to ally yourself with any of the former. Venezuela happens to be within US's reach so they are fucked.

I don't think a leader in Venezuela could do much more than do as told by the US if they wanted to survive, such is life under empire pressure. In any case Maduro is probably not the brightest man out there, he's not an idiot tho, I've heard some interviews. It's on his speeches that he sounds like a total clown but that seems to be the style of those south american leaders.

Febo

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Quote from: sheenshane on March 09, 2019, 12:53:40 PM

There is a big reason behind why the UK is leaving the European Union. For me, the reason why the European Bank will print money is that the third world war three is coming.

If you believe the 2rd world war is coming then UK should leave Nato and not EU.

European central bank is printing euro same as is English central bank printing pounds. That is what they do for 100 of years and that is what they will do until they will exist.

BitHodler

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Quote from: Crypdon on March 11, 2019, 02:27:47 PM

Printing new money is the only thing they know when the economy tanks. This great strategy has destroyed the lives of many in venezuela who then turned to bitcoin Wink

Printing money is shit, but in this case it's not printing money that made Venezuela sink deep, but the greed and mismanagement of one single person. Maduro is an incompetent bastard that shouldn't be in that position.

Every country prints money, but the way you do it makes the difference. Based on how hard you suck as government, you try to compensate that by filling up the gaps you didn't manage to fill up because of your incompetence.

Admittedly, the sanctions against Venezuela make it more difficult to be competitive on the global market, but still, the way Venezuela is fucked up is only the result of the shitty government there and nothing else.

cellard

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Quote from: BuyBuyBitcoin on March 11, 2019, 07:27:45 PM

They have to come up with a solution soon..

Global Debt is $250 Trillion

https://medium.com/@lucidfunds/the-long-and-winding-road-to-10-million-bitcoin-4b1c83d26e5d

Quote

According to The Institute of International Finance (IIF), the total world debt is roughly estimated to be $247 trillion. By the 2018 year end, the total world wealth was estimated to be $317 trillion. But most significantly, total world debt increased 394% over the past 20 years, from $50 trillion to $247 trillion, while total world wealth increased 133% over the same period.

The money supply is already in the Quadrillions... think about that... only in fiat money does Quadrillion become possible. Where do we go when half a Quadrillion is the world debt?

I've read that article before by Tyler Jenks. That's the guy that expects sub $1000 prices before we bottom, and at the same time he predicts $10,000,000 long term. I would say this man is definitely of extremes. His hyperwave theory predicts a way to low price in my book, I don't see Bitcoin going below $1k, there's just too much of a bullish density before $1k. If we go below $1k im definitely going because we would be at delusional levels of bear.

As far as ECB I see interesting gold moves by Italy. 2008 was 10 years ago, we are due for another crisis and this time we'll have a very solid Bitcoin for these that don't want to be sitting in non-neutral to nation state assets.

orions.belt19

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Quote from: sheenshane on March 09, 2019, 12:53:40 PM

There is a big reason behind why the UK is leaving the European Union. For me, the reason why the European Bank will print money is that the third world war three is coming. Sooner and later, currencies will go down and the European bank is trying to save some profit because they needed to wage something.

The UK is leaving the union because of one of the biggest things to happen globally and we need to wait for it soon.

It's unlikely for them to declare world war three -- that's just absurd. You know how crazy it would be for you to declare world war at this age? There won't be any survivors if a war ensues due to all the nuclear weapons now. I'm betting the world would be just a bunch of craters once this happens. It won't be just guns and soldiers now. Right now, nuclear technology and weaponry is pretty much advanced.

Funny thing about Brexit is not every one is aware of it happening or the effects of it. The UK probably just wanted to isolate themselves. Then again, it could be a mistake on their part. There were some saying that the citizens had some regrets after voting out of the EU.

BuyBuyBitcoin

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Get Maximalist or Get Wrecked

They have to come up with a solution soon..

Global Debt is $250 Trillion

https://medium.com/@lucidfunds/the-long-and-winding-road-to-10-million-bitcoin-4b1c83d26e5d

Quote

According to The Institute of International Finance (IIF), the total world debt is roughly estimated to be $247 trillion. By the 2018 year end, the total world wealth was estimated to be $317 trillion. But most significantly, total world debt increased 394% over the past 20 years, from $50 trillion to $247 trillion, while total world wealth increased 133% over the same period.

The money supply is already in the Quadrillions... think about that... only in fiat money does Quadrillion become possible. Where do we go when half a Quadrillion is the world debt?

Crypdon

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Printing new money is the only thing they know when the economy tanks. This great strategy has destroyed the lives of many in venezuela who then turned to bitcoin Wink

countryfree

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Your country may be your worst enemy

It's a new plan for the ECB because last year, after several years of quantitative easing (another form of printing money), they had tried to tighten the money supply, but that didn't worked as expected, so they're back to their old dirty habits. I guess a man like Trump would approve, but I can't help wondering how is this going to end?

Besides, regarding the future of the EU, here's an excellent article with plenty to worry about:

https://www.bloomberg.com/graphics/2019-italian-banks/

2 weeks ago, I drove from Timisoara (Romania) to Brastislava (Slovakia). I drove through 3 different countries, but it was one single country some 150 years ago. Countries come and go, it will be the same with the EU.

buwaytress

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Quote from: 1Referee on March 10, 2019, 01:16:28 PM

Quote from: buwaytress on March 09, 2019, 02:47:45 PM

Only problem is still the deep worry I do have for others close to me, and those who will continue to live on this planet long after I'm gone. Worse, this money printing will keep alleviating the problems, and keep delaying the solutions, for generations more to come.

What solutions are you exactly referring to? I don't think there is a solution to be honest. We have alternatives such as Bitcoin that will help us minimize our exposure to everything tied to the fiat system.

The majority of my wealth is locked in Bitcoin and it feels great. I would love to have the ratios be 90% Bitcoin and 10% fiat, but Bitcoin isn't mature enough for that allocation, but it will be eventually. The main point basically is that would fiat becoming worth less (beyond its current inflation point), it isn't really a problem for me with how my Bitcoin wealth continues to outperform fiat's diminishing purchasing power.

Well, there have been many discussions and there's always plenty of debate among the economists among the academics. They're generally along the lines of reducing debt (private and public), reducing exposure to debt, reducing inequality. Practical steps? For example, like in this 2012 IMF paper, " 100% reserve backing for deposits", money creation without debt creation... these are what could improve economies and people's lives quickly.

I'm all for Bitcoin too, mind you, but I spend a lot of my life and time with people for whom Bitcoin may never be a proper part of their lives. Probably not even for their children. It's nice to be in Bitcoin, absolutely, but it'd be great also if the system we have to live with first, gets a bit of medicine down its throat.

1Referee

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Quote from: buwaytress on March 09, 2019, 02:47:45 PM

Only problem is still the deep worry I do have for others close to me, and those who will continue to live on this planet long after I'm gone. Worse, this money printing will keep alleviating the problems, and keep delaying the solutions, for generations more to come.

What solutions are you exactly referring to? I don't think there is a solution to be honest. We have alternatives such as Bitcoin that will help us minimize our exposure to everything tied to the fiat system.

The majority of my wealth is locked in Bitcoin and it feels great. I would love to have the ratios be 90% Bitcoin and 10% fiat, but Bitcoin isn't mature enough for that allocation, but it will be eventually. The main point basically is that would fiat becoming worth less (beyond its current inflation point), it isn't really a problem for me with how my Bitcoin wealth continues to outperform fiat's diminishing purchasing power.

gentlemand

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Welt Am Draht

For a lark it's time a central bank experimented with air dropping money on its population. It would be very interesting to see what they did with it. The closest equivalent at present is I suppose the gambling payouts some tribes give their populations in the US. That doesn't sound like it's patched the wounds all that much but let's see if white devils have more fun with it.

buwaytress

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Along with the usual one-decade routine warning by economic experts that we're headed for another global economic crisis (like this Carney rhetoric here), fresh out of the most recent one that gave birth to Bitcoin, yeah, I'm going to have to say that I'm really glad to have started putting stuff away in Bitcoin!

Only problem is still the deep worry I do have for others close to me, and those who will continue to live on this planet long after I'm gone. Worse, this money printing will keep alleviating the problems, and keep delaying the solutions, for generations more to come.

taratorly

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Quote from: countryfree on March 07, 2019, 11:41:53 AM

https://www.reuters.com/article/us-ecb-policy/ecb-pushes-out-rate-hike-offers-cheap-cash-to-banks-idUSKCN1QO0MH

The European Union is sinking, with the UK's leaving this month, but its central bank has a new plan to save it: print more money, and give it away to all its failing banks. I think that if the ECB was a doctor, it would get the most dangerous virus there is, and spread it to the entire population.

This is the kind of news which makes you happy to own BTC...

I think the EU started to implement the strategy that the US has been implementing for years nowadays. First of all, increase the money supply and increase the export of money after reducing the supply of crisis economy. USD has lost value before years, then it gains value. In this way, sales of products originating from the USA 's increases.

I think the only way to end these crises is decentralization. So with decentralized economy, no one can control money supply. People controls their money own.

kodtycoon

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why not build work facilities with free money and why should give them to a failing banks, is the new ECB planning because underlying inflation did not meet the previous month's target? free money for banks does't seem to help for a better future as unemployment in the euro zone is still among 7% that much. I wish that the Eurozone economy is still in the stage of improvement, I'm waiting for its development what will happen before 2020

Harlot

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Quote from: https://www.reuters.com/article/us-ecb-policy/ecb-pushes-out-rate-hike-offers-cheap-cash-to-banks-idUSKCN1QO0MH

The European Central Bank changed tack on its tightening plan on Thursday, pushing out the timing of its first post-crisis rate hike until 2020 at the earliest and offering banks a new round of cheap loans to help revive the euro zone economy.

If this is what you mean by "print more money" then I don't think its as bad as we think it is. They are offering loans from the money they already have there is nowhere in the article mentioning about the ECB printing more Euros for it to solve the problem, which we all know won't really solve anything as it will further devalue their own currency. Offering up what they already have might be a band aid solution but I don't think they really have much choice for their current solution aside from what they already planned.

daarul50

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This is crazy. Maybe we all citizens in Europe will experience economic difficulties and maybe even they will lose their homes by giving free money to banks in Europe. their freedom will all be seized by the government, especially their economy.

sheenshane

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There is a big reason behind why the UK is leaving the European Union. For me, the reason why the European Bank will print money is that the third world war three is coming. Sooner and later, currencies will go down and the European bank is trying to save some profit because they needed to wage something.

The UK is leaving the union because of one of the biggest things to happen globally and we need to wait for it soon.

Febo

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Quote from: BitcoinFani on March 08, 2019, 04:26:15 PM

It was already clear that the European Union would sink.. Britain was wise to leave the European Union.. Germany is close to the separation of countries such as Netherlands and Sweden.. why a country with a good economy should try to feed others. illogical..

Can you be more precise please. Which country have good economy and which country need food?

For me personally if my neighbor or any one need food I would give to him. You would not? You want to have your kids live in a country with starving people walking around?

Let me tell you the news. EU will never go away. EU will stay 3rd economic powerhouse behind India and China until the end of this century and further. No matter how much hate there will be form people like you.

mu_enrico

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Quote from: fauzan Ichsan on March 08, 2019, 11:44:09 PM

but to turn the wheels of the economy, it must be from below, by giving low interest rates to small businesses

Your statement is true if cheap money is used by businesses for productive activities. However, in reality, people use that money to inflate the stock price, properties, basically for speculative activities. This is why we see the boom and bust cycle because people are greedy and want the easy way to earn money.

coinplus

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Like that worked out so well before. I do not understand why banks needs to be the governments money access system.
I get the whole idea that banks give out loans and buy shares and sell share basically keeping the economy alive a bit and governments give money to banks so banks can keep doing it forever and economy can stay alive.

Moreover, banks do not do this for free, they are raking up billions of dollars in profit and what they can't afford should be only helped via government not via banks so when someone takes out a loan to build a bridge for example and fail to pay the loan to bank than government should not pay it to the bank, the bridge should be loaned from the government anyway.

It is a weird thing that banks are the door to economy in every nation, they should not have this much power and monopoly over a countries finances.

davis196

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Quote from: countryfree on March 07, 2019, 11:41:53 AM

https://www.reuters.com/article/us-ecb-policy/ecb-pushes-out-rate-hike-offers-cheap-cash-to-banks-idUSKCN1QO0MH

The European Union is sinking, with the UK's leaving this month, but its central bank has a new plan to save it: print more money, and give it away to all its failing banks. I think that if the ECB was a doctor, it would get the most dangerous virus there is, and spread it to the entire population.

This is the kind of news which makes you happy to own BTC...

This "new" plan isn't new. Grin

The European central banks has been going this for years,and they won't stop the priniting machine,because the bank system will collapse.
I don't think that the EU is sinking due to Brexit or due to any other factor.The European Union still has some strong foundations,like the open market.

Lizzylove1

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This is the practice almost everywhere in the world, by giving the public treasuries to failing private institutions in the name of bail out, especially the banks. The implication of this is that: these same economic gangsters will in turn steal the bail out fund and come asking for more, leading to more inflation. Bank was conceived in Inequity and born in Sin, according to a former banker. Sadly, this will continue because these cabals control the government and not some politicians, if you don't play along, your government get grounded and you are frustrated out of the office. Check out this book Conspiracy Of The Rich by Robert T. Kiyosaki.

cellard

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Quote from: magneto on March 08, 2019, 06:03:29 PM

Quote

The European Union is sinking, with the UK's leaving this month, but its central bank has a new plan to save it: print more money, and give it away to all its failing banks. I think that if the ECB was a doctor, it would get the most dangerous virus there is, and spread it to the entire population.

This is the kind of news which makes you happy to own BTC...
Report to moderator

Sounds familiar to how banks are bailed out when there are any type of financial crisis that seems imminent?

This seems to be exactly the same thing that's happening here.

Certain banks become too big to fail, and governments essentially simply inject money to keep them running. That in itself imo makes banks more comfortable making higher risk moves, and artificially stimulates the economy at the cost of individuals. This isn't just something that happens in the EU.

After all, printing more money isn't something that comes free. The invisible tax of inflation will ultimately be passed onto households, and not to mention taxes.

The irony is that once a bank becomes too big to fail it's already too late, as it becomes a burden for the underlying system's currency in the form of perpetual QE, so as more and more banks reach "too big to fail status" the QE rounds start stacking in order to save them. It becomes a futile action of kicking can down the road brewing massive backlashes, crashes, and worst case scenario systemic risk.

If the system was fair banks would simply fail and go out of business. The pain would suck but it would be temporary, systemic risk wouldn't be an issue. But once again politicians only think for whatever next 4 years they plan to be on office, when economics need longer timeframes, but they think in form of potential voters which goes against very long term policies.

Thanks to satoshi we have now Bitcoin after 2008 to protect from this problem, just hold some bitcoin at all times in order to hedge against that.

fauzan Ichsan

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Quote from: mu_enrico on March 08, 2019, 09:01:08 PM

Quote

The European Central Bank changed tack on its tightening plan on Thursday, pushing out the timing of its first post-crisis rate hike until 2020 at the earliest and offering banks a new round of cheap loans to help revive the euro zone economy.

Source

I cannot believe this madness since it is clear that the market needs to reset. I'm afraid that the longer the waiting time for the interest rate rise, the economic turmoil would be more severe.

but to turn the wheels of the economy, it must be from below, by giving low interest rates to small businesses, of course they will help them to develop their businesses, just as they do in my country

mu_enrico

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Quote

The European Central Bank changed tack on its tightening plan on Thursday, pushing out the timing of its first post-crisis rate hike until 2020 at the earliest and offering banks a new round of cheap loans to help revive the euro zone economy.

Source

I cannot believe this madness since it is clear that the market needs to reset. I'm afraid that the longer the waiting time for the interest rate rise, the economic turmoil would be more severe.

magneto

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Quote

The European Union is sinking, with the UK's leaving this month, but its central bank has a new plan to save it: print more money, and give it away to all its failing banks. I think that if the ECB was a doctor, it would get the most dangerous virus there is, and spread it to the entire population.

This is the kind of news which makes you happy to own BTC...
Report to moderator

Sounds familiar to how banks are bailed out when there are any type of financial crisis that seems imminent?

This seems to be exactly the same thing that's happening here.

Certain banks become too big to fail, and governments essentially simply inject money to keep them running. That in itself imo makes banks more comfortable making higher risk moves, and artificially stimulates the economy at the cost of individuals. This isn't just something that happens in the EU.

After all, printing more money isn't something that comes free. The invisible tax of inflation will ultimately be passed onto households, and not to mention taxes.

BitcoinFani

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It was already clear that the European Union would sink.. Britain was wise to leave the European Union.. Germany is close to the separation of countries such as Netherlands and Sweden.. why a country with a good economy should try to feed others. illogical..

Mpamaegbu

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Quote from: NeuroticFish on March 08, 2019, 07:56:44 AM

A new crisis is approaching and it could be bad because of the poor "fix" and also the complicated/bad relations (US-China, problems inside EU, name it).

I do think that globally the books have been messed up a lot. I do quite agree with you that another global financial meltdown is brewing already with all the tug-of-wars, Brexit no deal, N.Korea-US and China imbroglio. It's going to be a tough ride soon.

March will match all these.

ASHLIUSZ

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Quote from: kryptqnick on March 08, 2019, 03:08:29 PM

Quote from: LeGaulois on March 08, 2019, 07:41:16 AM

The TLTROs were supposed to expire soon, it would have been a shock to the banks if ECB didn't postpone.

Since several years now their profitability continued to decline. EU is already on its "last reserve" and the last hope is to print more money for more debt, and twist the policy from time to time but again, this only postpones the problem.

People think the EU economy is doing fine, but under the rocks it's ugly.

But printing more money is too risky, isn't it? The EU is putting a lot of effort in making sure they control the price of euro and the rate of inflation. They evaluate how much basic products cost and adjust the amount of money so that there is very stable inflation rate. Printing more money than planned can easily lead to euro's rapid devalvation and that, in turn, to international economic crisis in Europe. I guess it's time to start saying goodbye to controlled fiat and embracing the money that is limited in supply 'from the inside' with all of its ups and downs.

As mentioned printing more money will surely lead to inflation of the currency. At present EUROPEAN UNION is very strong in its economy, but we're not going to rally strong in the market anymore. Free money to banks weren't the right solution to keep the economy under control.

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Quote from: LeGaulois on March 08, 2019, 07:41:16 AM

The TLTROs were supposed to expire soon, it would have been a shock to the banks if ECB didn't postpone.

Since several years now their profitability continued to decline. EU is already on its "last reserve" and the last hope is to print more money for more debt, and twist the policy from time to time but again, this only postpones the problem.

People think the EU economy is doing fine, but under the rocks it's ugly.

But printing more money is too risky, isn't it? The EU is putting a lot of effort in making sure they control the price of euro and the rate of inflation. They evaluate how much basic products cost and adjust the amount of money so that there is very stable inflation rate. Printing more money than planned can easily lead to euro's rapid devalvation and that, in turn, to international economic crisis in Europe. I guess it's time to start saying goodbye to controlled fiat and embracing the money that is limited in supply 'from the inside' with all of its ups and downs.

Crypdon

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I don't actually believe that the UK will leave the EU as the deal has not formally been approved by it's own government and the modified version hasn't been approved by the EU. Hard to believe until it actually happens

gantez

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The euro crashed yesterday because of the fear of debt across the EU banks and caused some traders big lose. However, I think the euro is beginning to recover fast because of the ECB decision to print more money to service bank debts. I think that is a right step from draghi led ecb. I do believe that it will further boost the strength of the euro from next week to bull.

dothebeats

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Quote from: NeuroticFish on March 08, 2019, 07:56:44 AM

Quote from: LeGaulois on March 08, 2019, 07:41:16 AM

People think the EU world's economy is doing fine, but under the rocks it's ugly.

There! I've fixed it for you.

Almost entire world's economy is in a bad shape. The previous financial crash was poorly fixed and that's visible if you look "under the rocks".
A new crisis is approaching and it could be bad because of the poor "fix" and also the complicated/bad relations (US-China, problems inside EU, name it).
The banks got used to do nothing and get the free money. So in order to try to postpone the crash a little, yeah, they'll print more paper.

The solution they have found a decade ago is like patching up the broken parts with a duct tape (well, duct tape fixes everything) and just hope for the best instead of replacing the worn-out, non-functional parts with something new to help the gears turning even more efficiently. Printing even more money won't fix a thing but only delays the inevitable, which is another crash looming and waiting to grab the world's economy and turning into yet another shitstorm.

They literally are just making the next crashes even worse than before.

NeuroticFish

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Quote from: LeGaulois on March 08, 2019, 07:41:16 AM

People think the EU world's economy is doing fine, but under the rocks it's ugly.

There! I've fixed it for you.

Almost entire world's economy is in a bad shape. The previous financial crash was poorly fixed and that's visible if you look "under the rocks".
A new crisis is approaching and it could be bad because of the poor "fix" and also the complicated/bad relations (US-China, problems inside EU, name it).
The banks got used to do nothing and get the free money. So in order to try to postpone the crash a little, yeah, they'll print more paper.

Indamuck

hero member

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Governments privatize the profits and socialize the losses. We already saw the corrupt that happened in the United States. Banks and auto companies got bailed out while people got foreclosed out of their houses. You can't have it both ways, either have a completely free market where any business that fails goes extinct or socialize everything and actually help your citizens.

LeGaulois

copper member

Activity: 2940

Merit: 4101

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The TLTROs were supposed to expire soon, it would have been a shock to the banks if ECB didn't postpone.

Since several years now their profitability continued to decline. EU is already on its "last reserve" and the last hope is to print more money for more debt, and twist the policy from time to time but again, this only postpones the problem.

People think the EU economy is doing fine, but under the rocks it's ugly.

countryfree

legendary

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Merit: 1047

Your country may be your worst enemy

https://www.reuters.com/article/us-ecb-policy/ecb-pushes-out-rate-hike-offers-cheap-cash-to-banks-idUSKCN1QO0MH

The European Union is sinking, with the UK's leaving this month, but its central bank has a new plan to save it: print more money, and give it away to all its failing banks. I think that if the ECB was a doctor, it would get the most dangerous virus there is, and spread it to the entire population.

This is the kind of news which makes you happy to own BTC...

Topic: Europe's new plan: to give more free money to banks (Read 434 times)