Monday, July 26, 2010

Joke Of The Day From ECB´s Smaghi "€ More Stable Than Deutsche Mark"

Quotes like this totally "neglecting" the almost € 1 trillion fund to "rescue" the €, IMF involvement, first "QE aka Montizing Of Debt" ever & including the once in a lifetime "elevated" ( at least by Bundesbank standarts... ) CPI close to 4% after the reunification are not suitable to regain at least a few percentage points of the already "diminished" credibility... At least in Germany... ;-)

Wenn man Zitate wie diese lesen muß, die zum einen den fast 1 Billion € schweren Rettungsfonds, der zur Stabilisierung des € notwending gewesen ist, und den Sündefall schlechthin ( Aufkauf von Staatsanleihen ) "ausblenden" sowie gleichzeitig die im Zuge der Wiedervereinigung entstandene Sondersituation von extrem erhöhten CPI Daten von knapp 4% komplett unberücksichtigt läßt, muß sich nicht wundern wenn auch noch der kümmerliche Rest in Sachen Glaubwürdigkeit langsam aber sicher "flöten" geht..Zumindest in Deutschland....;-)

Bloomberg

The euro has proven to be a more stable currency than the Deutsche Mark in the 11 years since its introduction, the board member said in the FAZ commentary.

The average inflation rate in those 11 years is lower than in all countries in the monetary union in the 10 years before, even in Germany, Bini Smaghi said, according to the newspaper.

Sometimes it´s better to stay silent.....

"Reden ist Silber, Schweigen ist GOLD".......

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