Mario Draghi, head of the European Central Bank, must be thinking that one can’t get anything for 2.6 trillion euro, nowadays! This astounding amount is the ECB’s QE or, in other words, all the bonds it has bought since March 2015 – with a printing press: The ECB didn’t sell any assets of equivalent value and it didn’t borrow any money to do so. It has created money out of thin air, by mere accounting entries, in order to acquire sovereign and corporate Euro zone bonds. This “divine” power of central banks often ends with a destructive wave of inflation (Zimbabwe, Venezuela, Germany in 1923, etc.). This “quantitative easing”, the technical term for the printing press – a little too vulgar because everyone knows what it means – started in March, 2015, with 80 billion euro a month, 60 billion after April, 2017, 30 billion after January, 2018, and then 15 billion since October and until December, for a total of 2.6 trillion euro. So will it all be ended in January? Well, n...
from GoldBroker.com https://www.goldbroker.com/news/european-central-bank-qe-26-trillion-euro-all-for-nothing-1456
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