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German paper i was reading says:
on ECB...there is much outrage in Germany now
Germans fear paying debt more than terror and more than natural disaster
Germans remember hyperinflation in Weimar Republic and currency reforms after the Second World War...
High inflation is difficult for elderly and for the low waged earner.
Easy for rich to transfer assets to another country.
CBs are placing themselves in a corner. What happens in Europe will happen here, only a matter of time. What happens when rich foreigners want to redeem their bonds here for their own expenses? What happens when we go to auction off bonds and no one buys...we could have a failed auction...don't think it can't happen; it can. | |
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Why this next major cycle will be the last... and greatest
