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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (41774)	9/15/2011 12:47:46 PM
From: carranza2	4 Recommendations Read Replies (2) \| Respond to of 71456

Color me frustrated because the info on the action in Europe is less than transparent. As far as I can tell, the ECB wil now lend USD to the European banks, many of which smell like rotting fish. Ok, the money will go to the ECB which will lend it to the banks for up to 3 months instead of the typical one week. Where is the USD coming from? Who knows, but the several CBs on the announcement presumably have a piece of it.. How much? Who knows. What does this point to? That the ECB could not do the operation so it needed help. [Sorry, that is of course elementary, but this crap is so dark, I must go after it in shoemaker fashion, bit by bit.] The banks in Europe are dead men walking. How will they repay in 3 months? How will the ECB repay its debt to the CBs that signed up? Who knows. l I would look for extensions, etc. All this points to is a big mess. Lotsa things can go wrong. If the banks don't re-pay, the ECB is obviously strapped. We and our buddies go back in for another operation? Politically of course it was impossible to state how much moolah we are providing. And what kind of collateral, if any, are we getting? Are we taking in stinky PIIGish bonds the ECB bought as collateral? This is the most nebulous shit I've ever seen. And designed to be nebulous. But the real issue in my estimation is whether the operation wil succeed because, if it doesn't, then the CBs that signed up for the deal are going to lose a bunch of moolah as the ECB seems incapable of bailing out its own banks. Shoot, all it has to do is sell some of the stinky Italian and Spanish bonds it bought. vbg Are we and the Japanese and Swiss going to own Europe. If so, I want a piece of Paris and a piece of Sevilla and a nice townhome in Edinburgh's New Town thrown in. I surely would like to see how the CDS rates on Greece reacted to this. Guess we'll have to wait until Ron Paul issues a few subpoenas before we find out the real deal.. He must be furious.