Draghi Admits Won't Stop Blowing Bubbles Even If He Sees Them

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And scene... in what is an oddly honest moment for a central banker, Mario Draghi just admitted there-ain't-no-stopping-us-now:

  • *DRAGHI SAYS ECB WOULDN'T RAISE RATES IF BUBBLES EMERGE

    • So BTFD, BTFATH, and BTFWWIII as no matter what, the central bankers do not care about financial stability (or fragility). The so-called macro-prudential policy plan will save the day...which like OMT remains shrouded in a "don't ask, don't tell" Oz-ian mist.

    Furthermore, Draghi then goes on to admit his efforts were all about generating carry trades (riskless profits for banks)...

  • DRAGHI SAYS CARRY TRADES WILL BE MUCH LESS PROFITABLE NOW

WTF?!

source

 

Craziness. Why I wonder.

 

Draghi Jawbones "Appreciating Euro Would Be Risk To Recovery"; Market Shrugs

It appears His word is losing its omniscience. Speaking to the European Parliament, ECB's Mario Draghi unleashes a torrent of negative-now-but-positive-just-around-the-corner attempts to talk down the Euro... and it's not working...

  • *DRAGHI SAYS APPRECIATING EURO WOULD BE RISK TO RECOVERY(sell!)
  • *DRAGHI SAYS JUNE POLICY MEASURES HAS EASED POLICY FURTHER(see sell!!)
  • *DRAGHI SAYS RISKS TO ECONOMIC OUTLOOK ARE ON DOWNSIDE(really sell please!!!)
  • *DRAGHI SAYS READY TO USE UNCONVENTIONAL TOOLS WITHIN MANDATE(Seriously sell!!!)

    • For now, EURUSD dropped 5 pips and rallied back to unch... not exactly what he hoped for...

    Draghi's demands...

  • *DRAGHI SAYS EURO MEMBERS MUST ACT ON STRUCTURAL REFORMS
  • *DRAGHI SAYS MUST TAKE CARE NOT TO ROLL BACK FISCAL AGREEMENTS

Well how's that going to happen when markets signal politicians that everything's fixed?

source

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jotekfinance:
Craziness. Why I wonder.

Not crazy

He is just doing what he is ordered - the same as Yellen. We should be asking who is ordering things like that

 
whisperer:
Not crazy He is just doing what he is ordered - the same as Yellen. We should be asking who is ordering things like that

You are right

Just see what was the last what Bundesbank told and that is the policy of ECB. No need to listen to Draghi at all (the same as there is no need to listen Yellen - look for Goldman Sachs statements)

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