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Thursday, July 26, 2012


No, I don't get it.
Is our economical system THIS fuzzy?

We know, since some months the situation in Europe is really critical, something went really wrong... first with Greece, than Italy, Spain.
We (the citizens) understood that those that were supposed to manage and watch over our economy failed dramatically, most of them piling up quite some richness by doing that.
Fine, we got that part I guess, one day we might even figure out how to use that information.

The result is that the Euro is losing ground which in the end might even be a good thing for the European economy, or at least for those countries that are in trouble, but that's another point.

Few minutes ago this news item popped out in most of the web news sites.

It basically says that Draghi, head of the European Central Bank, confirmed that the BCE will defend the Euro.
"We will do anything to save the euro, and it will be enough".

So, what's the plan chief?
"Anything" means just that : whatever it takes... so?
I kind of believed this was already decided since the BCE was constituted, did not seem anything new to me.

The part I don't get is this :

believe it or not, this was the (incredible) immediate reaction of the markets to Draghi's statement.
No bullshit : almost 1% recovered in few minutes after he said the most obvious thing. 
Still no plan in the air, but maybe these guys pulling the levers of this crisis have some more news that we don't.

Or it is just a kind of game where currencies go up and down depending on how good the communication department of the central banks is and we have to accept a "few" casualties in this process.
And the worst part in it is that those people moving billions they do not actually own can be tricked by cheap advertisements like the dumbest of the consumers. 

I don't know how it works for you, but I don't have a good feeling about this.

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