Comments on: Notes From Underground: Draghi Lit the Torch; Now Let the Games Begin http://yragharris.com/2012/07/31/games/ Where 2+2=5 is also a beautiful thing Wed, 19 Jun 2013 14:11:51 +0000 hourly 1 http://wordpress.com/ By: i'm not here http://yragharris.com/2012/07/31/games/#comment-6922 Wed, 01 Aug 2012 01:10:01 +0000 http://yrah53.wordpress.com/?p=1581#comment-6922 The Fed pays some pitiful interest rate to the regional banks here for holding funds that the Fed required them buy at cost or basically for free. So the Fed is operating in a negative environment at the taxpayers expense, as usual…Live and learn Europe, watch the captain go down with his ship.

Perfect time for the US Treasury to start an interest free banking system (fee based) to restore confidence in banking. Even today @ 2% or 3% mortgage loans rates, few are interested because they can’t unload their underwater mortgages. Why would Euroland be any different?

]]> By: asherz http://yragharris.com/2012/07/31/games/#comment-6921 Wed, 01 Aug 2012 00:18:36 +0000 http://yrah53.wordpress.com/?p=1581#comment-6921 The markets continue to want another shot of heroin to keep the high going.. Another needle mark isn’t going to solve the problem. It will keep the the sick addict going for another few months until it wears off and the cycle starts all over. Draghi ‘s methadone won’t cure the disease..
The problem of too much sovereign debt will not get solved with more bailouts. The U.S. has banks that are too big to fail. Peripheral Europe have sovereigns that are too big to save. Withdrawel symptoms are painful and the world will shake like never before. But thirty years of profligacy cannot be papered over.The alternative is Weimar Germany across a larger geographic area.

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