Monetary Inflation - ECB with New Overnight Repo

Tuesday, August 14, 2007

The European Central Bank (ECB) has announced a new overnight tender at Tuesday's European market opening, according to MarketNews International. Its action contradicts the accompanying statement that spoke of normalising market conditions. This is now the third unscheduled tender in 4 workdays, not counting Monday's regular one-week tender that added 47.5 billion Euros.

New ECB headquarters

PHOTO: A model of the leaning towers that will become the new headquarters of the ECB in Frankfurt/Main. Photo: ECB

If anybody can verify this information at the ECB's website please let me know in comments. I could not find any releases relating to the unscheduled tenders.
If you have no luck either despite all the transparency pledges, have at least a look at the design for the new ECB headquarters in Frankfurt: Two leaning 185 meter towers that will dwarf all other banks in continental Europe's leading financial centre, leading to a dark vision where the central bank falls and maims the lesser ones. The building in the front appears like a heavily fortified sweatshop and I wonder whether the windowless wall structures will withstand the inflation missile that is in clear sight.
My online broker just snapped that a European bank is supposed to crawl in the gutter, getting flattened by - you guessed right - subprime. I knew these foolhardy acts of monetary inflation would show up within a few days. So we can move the guessing game from "when" to "who?"
TO BE UPDATEDSee next post.


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