mishtalk.com / Mike “Mish” Shedlock / March 7, 2017
In the latest BIS Quarterly Review, the BIS points a finger at the ECB for rising Target2 imbalances.
That sounds highly accusatory, but the BIS also claims this is a “benign by-product of the decentralized implementation of the asset purchase program (APP) rather than as a sign of renewed capital flight.”
I strongly disagree that any of this is “benign” unless and until someone can tell me precisely how Italy, Spain, Greece, etc., are supposed to pay back the claims.
Read more ... source: The Bitcoin Channel
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