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JerseyJoe
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Paper Tiger: German Constitutional Court Bows Before Draghi as Higher Judge and Jury - Mish - Global Economic Analysis

Wouldn't this argue to short the Euro? And the Swiss Franc which is pegged to the Euro?

Or if you can buy gold in Euros before the ECB starts swimming in more toxic bonds?

When and how will this end as the ECB gets the green light to follow the BoJ, BoE, and the Fed?

We all know it can't end well - but what will be the trigger? Because Greece may now be off the table. But looking out to the coming qtrs, France, Spain and Italy all have massive debts rolls coming while all increase their deficits. Can the ECB soak up enough to keep Europe looking liquid?

I will toss this one on the table. As the Yen slides, buying oil will be increasingly difficult to sustain and may dip into their T Bill horde to start paying their bills. Yellen has to respond to the selling with increased Fed buying.

Commented 3734 days ago

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Beginning of the headline :In a 6-2 ruling, German Court Defers to Draghi as Euro’s Judge and Jury. Germany’s supreme judges have decided to let Mario Draghi be the euro’s monetary judge, at least for now. While doubting the legality of the European Central Bank’s 2012 bond-buying plan that defused the euro crisis, the top German court conceded yesterday that it is powerless to impose a veto. It bowed to a future judgment by the European Union’s high court, leaving Draghi’s pledge to do “whatever it takes” to save the e... Read More

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