Silver as an investment

Category Archives: European System of Central Banks

Uh-Oh…Draghi’s Ammunition To Buy Italian Bonds Before The Election Is Less Than We Thought

Having successfully pulled off the announcement of the ECB’s “dovish taper” – where monthly bond purchases will be halved to Euro 30 billion from January 2018 – last month, a challenge for Mario Draghi in Q1 2018 has appeared on his radar. The ECB’s bond buying ammunition is slightly less than analysts thought and there […]

ECB Announces Dovish €30 Billion QE Taper Through September 2018 “Or Beyond”; Euro Tumbles

While the ECB kept all of its three key rates unchanged as expected, and also kept the pace of QE at €60 billion until the end of the year, confirming the numerous trial balloons overthe past month, the ECB announced that it would cut the rate of QE in half, to €30 billion “from January […]

The ECB Has Bought €1.9 Trillion In Bonds: Here Is Who Sold And What They Did With The Money

Since the ECB launched its sovereign debt QE, initially known as PSPP, in March 2015 and later expanded to include corporate debt, or CSPP, in June 2016, the world’s biggest hedge fund central bank has created enough money out of thin air to purchase bonds with no consideration for price to grow its balance sheet, […]

Who Knew? German Central Bank Has Been Selling Gold For More Than A Decade

Authored by Louis Cammarosano via Smaulgld.com, Deutsche Bundesbank gold reserves shrink 45 tons over the past ten years. German Central Bank holdings fall From 3,420.6 tons at the end of Q2 2007 to 3375.6 tons, a drop of 1,446,783 ounces. German gold reserves have decreased 1.3% over ten years. Bring the Gold Home & Sell […]

ECB Preview: “Will He, Or Won’t He”, And Now To Trade The Announcement

Will he, or won’t he? Tomorrow was supposed to be the ECB meeting when Mario Draghi unveils the “guidance switch”, hinting if not at the (eventual) interest rate increase then at least a small step toward a QE exit. And then today’s Bloomberg trial balloon hit. As reported earlier, a Bloomberg “sources” story suggested that […]

Futures Flat, Market Anxiety Eased By European Bank Rescue

European and Asian stocks, as well as S&P futures were little changed ahead of “Super Thursday’s” events which include the U.K. general election, Comey’s testimony and the ECB policy decision. That however may change following a Bloomberg news report that the ECB is set to cut inflation forecasts through 2019 due to weaker energy prices, […]

“Audit The ECB”? – German Officials Call For Greater Oversight Of Central Bank

With the omnipotence of the world's central banks suddenly all too evidently exposed as nothing more than 'Oz'-like smoke-and-mirrors, it is not just US politicians that are losing faith and calling for more oversight of the most-powerful unelected officials in the world. Handelsblatt reports today that Germany's federal auditor says The ECB lacks accountability in […]

Euro Surges, Bunds Tumble On Report Draghi Considering Rate Hikes Prior To QE End

Update: Reuters chimes in with its own headline, saying the discussion was brief, without broad support.  SOME ECB RATE SETTERS RAISED POSSIBILITY OF RATE HIKES BEFORE END QE, DISCUSSION WAS BRIEF, WITHOUT BROAD SUPPORT – SOURCES * * * The EURUSD spiked, European stocks faded gains, and German Bund futures tumbled to session lows following […]

Is the Euro About to Rally to 120?

The currency markets are signalling that a massive shift might be about to happen. According to a Bank of America/ Merrill Lynch fund manager survey, the US Dollar ($USD) is the single most crowded trade on the planet. In a fiat world, the value of a given currency is based on where it trades relative to […]

Germans: ‘Yes, Gold IS Money’

Whereas a few years ago countries repatriating their gold seemed to be ‘the hype of the month’, once the dust started to settle, we didn’t hear much about gold repatriations anymore. At least, until last week, when Germany announced it has been able to accelerate the gold repatriations. Indeed, the country has now repatriated all […]