ECB

I'm back from vacation! The links are light today so let me give you an added few tidbits from this week's Gold member post on the euro zone.

In the German press, there have been a number of stories recently that indicate that the German government will not commit any more money to bailouts in the euro zone. Specifically, the reports of greatest interest have to do with Germany's…

While the ECB may certainly now buy as many peripheral bonds as it wishes if it deems convertibility risk to be a real issue money is already trickling into cash strapped peripheral economies through the arcane tool of emergency liquidity…

Despite my increased pessimism on Europe, it is clear that European equities are undervalued compared to the US. My call at the beginning of the year was for European equities to outperform because of relative value vis-a-vis the United…

Everyone seems to be talking about Mario Draghi these days. They think his comments about the ECB doing "whatever it takes" are important. They're not. They are meaningless. Here's why.

Like Pavlov's dog, the market is conditioned to rise whenever investors see the possibility of central bank moves toward ease. This is true whether we are talking about the Fed or the ECB. The problem is that we have been gradually moving…

Everyone of course assumes that the ECB has put together some type of plan to change its policy course. But did this statement come from the ECB (similar to the announcements of the FOMC) or is Draghi trying to do this on his own? Did the…

Mario Draghi has a specific plan in mind for how the ECB will be able to arrest the sovereign debt crisis. Two Bloomberg central bank sources told the news agency that ECB President Draghi will have talks with Bundesbank President Jens…

Mario Draghi's comments earlier today showing the ECB's commitment to the euro to do whatever it takes to keep the single currency intact were greeted by most with a sense of relief. In Germany, there was consternation within the German…

Daily commentary Since I have a decent amount of links, I thought i would do a special Sunday daily commentary. The issue I wanted to highlight is credit and how it gets created. At some point I may make a longer version of this to flesh…