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ECB puts last nail in Euro coffin ...
Dec. 10, 2011
I’ve been saying the European Central Bank (ECB) would come up short and disappoint the markets. And that seems to be exactly what happened ...
European policymakers opted for a 25-basis-point interest rate. They also relaxed rules on the types of collateral banks can swap for cash, and they extended the term of some loans to 36 months.
But crucially, they did NOT announce a major money printing operation!
In fact, ECB President Mario Draghi said the so-called Wall Street “experts” had it all wrong about a speech he recently gave. Many investors thought his comments opened the door to an expanded program of Federal Reserve-style bond buying; Draghi said that wasn’t the case.
I cannot stress enough how much the “bonus babies” on Wall Street were hoping for the ECB to crank up the printing presses. Everything else — the agreement yesterday to enforce stricter budgeting discipline, the introduction of yet another bailout fund a year earlier than planned, and so on — was secondary to that.
Bottom line: The summit is over. Policymakers have failed. And there are no more rabbits they can pull out of their hats now that the ECB has slammed the door in their face. I don’t see how this market avoids going down, and going down hard!
This Is Precisely What I’ve Been Warning You About All Along ...
I keep telling you that the U.S. is about to get slammed harder than it did by the financial crisis in 2008 ...
That the bailouts will have to stop somewhere ...
And when they do, that Dow 7,000 is right around the corner!
But in case you have yet to heed my warnings — or to take the protective steps I recommend — I urge you to watch Dr. Weiss’ shocking new video on this crisis right now.
In this startling video, he shows you ...
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Why everything we’ve seen so far is just a prelude to the real disaster we’re about to experience ...
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The monumental turning point that will trigger the ultimate financial doomsday — and why it will plunge vast numbers of U.S. families into the nightmare of poverty, homelessness and hunger ...
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How to avoid that fate and get through this disaster with yourself and your wealth intact ...
- Plus, how a handful of Americans will use this crisis to build enormous wealth — and how you can join them!
Just click this link to view America’s Financial Doomsday while there’s still time!
There’s no cost whatsoever for viewing, and the investment intelligence you’ll take away from it could easily mean massive profits for you in the weeks and months ahead.
Best wishes,
Mike Larson
Weiss Research, Inc.
15430 Endeavour Drive
Jupiter, FL 33478
1-800-291-8545
561-625-6685 (Fax)
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