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"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

Latest round of QE idiocy kicks off in Frankfurt - ECB starts buying bonds

In response to an FT article by Claire Jones on 10th March 2015, entitled 'Bankers' hunger for QE purchases outweighs risk of losses'

"On Monday, the 19 people working from these desks began buying billions of euros of government bonds. Their calm belied the size of the challenge facing the eurozone’s central bankers"

No - their calm indicated the fact that it is not their money and they have absolutely no skin in the game. None of those 'traders' will lose a minute's sleep over what they are doing. Their ultimate boss however, Mr Draghi, is probably losing a lot of sleep. Despite the bravado he's pinned his career to a scheme that will achieve little other than inflate stock markets, raise the stakes in the unofficial currency war, and make the sovereign debt overhang bigger. 

Meanwhile the money that goes into the stock markets will be used to purchase debt for share buy backs - by companies who have absolutely (and rightly) no confidence to invest in capital intensive projects in this environment. The 'money' that gets out of the finance pen will find itself inflating the price of fine art and high end real estate.

Apart from that this is a fine piece of work.

China will not be hauled back by the US

Japanese people have not lost their sense of smell