Why “Nothing Matters”: Central Banks Have Bought A Record $1 Trillion In Assets In 2017

Why “Nothing Matters”: Central Banks Have Bought A Record $1 Trillion In Assets In 2017:

Central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, “the largest CB buying on record.”

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40% Of Spanish Children Live In Poverty

40% Of Spanish Children Live In Poverty:

Despite a resurging stock market and stabilized bond risk premia (cough Draghi cough), EurActiv reports the proportion of children living below the poverty line in Spain has increased by 9 percentage points between 2008 and 2014, to reach almost 40%.

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War on Cash Puts ECB, EU on Collision Course with Germany

War on Cash Puts ECB, EU on Collision Course with Germany:

Bundesbank: It’s a war on personal freedom and choice.

Relations between Germany, and the ECB have curdled in recent times over a key issue: the role of cash. Germans have a soft spot for physical lucre while the ECB and Europe’s executive branch, the European Commission, have openly expressed their desire to suppress, or even punish, its use.

Read moreWar on Cash Puts ECB, EU on Collision Course with Germany

Mario Draghi Hints Trump Will Be Responsible For The Next Financial Crisis

Mario Draghi Hints Trump Will Be Responsible For The Next Financial Crisis:

According to Mario Draghi, portfolio manager of the world’s biggest hedge fund, it is not his gargantuan balance sheet equal to 36% of the eurozone GDP, nor the $14 trillion in global central bank liquifity that will be responsible for the next market crash, but that Donald Trump’s deregulation of the banking industry has “sown the seeds of the next financial crisis.”

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In Stunning Admission, Draghi Says A Country Can Leave Eurozone But Must “Settle Bill First”

In Stunning Admission, Draghi Says A Country Can Leave Eurozone But Must “Settle Bill First”:

Less than 4 years ago, and shortly after his infamous “whatever it takes” threat to speculators, Mario Draghi responded to a question from Zero Hedge readers, saying “there is no Plan B” when it comes to contingency plans for a Eurozone nation leaving the monetary union. The reasoning was simple: the mere contemplation of such a scenario assigned a probability to its occurrence, which is why the ECB was desperate to give the impression that no matter what, Europe’s cohesion is unbreakable.

Fast forward four years later, when not only has this particular strategy been thoroughly rejected, but for the first time ever the head of the ECB provided a framework, vague as it may be, laying out what a Eurozone exit would look like.

In a letter to two Italian lawmakers in the European Parliament released on Friday, and first reported by Reuters, Mario Draghi implied that a country could leave the euro zone – so much for “No Plan B” –  but first it would need to settle or debts with the bloc’s TARGET2 payments system before severing ties. 

Read moreIn Stunning Admission, Draghi Says A Country Can Leave Eurozone But Must “Settle Bill First”

ECB Assets Hit 35% Of Eurozone GDP; Draghi Owns 9.2% Of European Corporate Bond Market

ECB Assets Hit 35% Of Eurozone GDP; Draghi Owns 9.2% Of European Corporate Bond Market:

As global markets bask in the glow of the Trumpflation recovery, the ECB continues to be busy providing the actual levitating power behind what DB recently dubbed global “helicopter money“, and as of the latest update, the central bank added a total of €21 billion in assets, bringing the total to €3.631 trillion, an amount equal to almost 35% of the entire Eurozone GDP.

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