Italy, Hyperinflation and Gold

The ECB (European Central Bank) just had its 20th birthday. But there is really nothing to celebrate. The EU is in a total mess and the Euro which was launched on January 1, 1999 is a failed currency. Every President of the ECB has had to deal with fires that had very little to do with price stability but were more a question of survival. Most of these fires were a lot more serious than the candles in the Euro cake which Draghi is trying to blow out. During the French ECB Trichet’s watch, he had even bigger fire to blow out which was the Great Financial Crisis that started in 2006. ECB €4 TRILLION PRINTED – OUTSIDE MANDATE The only mandate of the ECB is to maintain price stability. Well that clearly has been a very costly exercise. Between 2006 and 2011 the ECB balance sheet trebled form €1 trillion to €3 trillion. But the crisis didn’t finish in 2011. After a brief reduction in debt, the balance sheet expanded fast from €2.3 trillion in 2014 to €4 trillion t...

from GoldBroker.com https://www.goldbroker.com/news/italy-hyperinflation-and-gold-1338