ECB Reserves Related to Margin Calls

FT has a very useful chart showing the alarming use by banks to use the European Central Bank as a source of funds for margin calls. Of key significance, most of this financing has been sterilized, meaning that money going out to bailout banks was balanced off by the ECB by money being drained by other sectors of the economy---thus distorting the eurozone economy in favor of European banksters.

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