The Euro’s Race to the Bottom Accelerates As ECB Starts Buying Junk

• maneco64
  Today I look at the ECB’s announcement that they have loosened their collateral rules and that they will be printing money out of thin air to start buying corporate and most probably sovereign bonds that would normally be rated as junk in a free market. My conclusion is that the current worldwide crisis will eclipse all the other financial crises we have witnessed since the collapse of the Bretton Woods Agreement in August of 1971. In my opinion, the current crisis will be the one that totally destroys the values of our current fiat currency system. It is not only the euro that will the victim but the dollar and all other fiat currencies too.

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