Thursday, July 2, 2009

ECB Leaves Rates Unchanged at 1%

No surprise here.

The ECB remains a key player in the global inflation racket, and they can create a lot on new money at an ECB interest rate of 1%.

Since October, the ECB has cut its main interest rate by 325 basis points to the lowest ever. And, it has massively expanded its money printing operations by providing "liquidity" to the banking system.

Last week alone, the ECB pumped in €442.2billion in one-year loans – the largest amount it had ever injected in a signal operation.

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