Three months ago, on December 4, when the ECB clearly disappointed markets and European stocks tumbled as the Euro soared, it took a speech by Mario Draghi at the Economic Club in NY to send stocks soaring...
The economy of the United States was destroyed almost overnight.
As VisualCapitalist's Jeff Desjardins notes, more than 5,000 banks collapsed, and there were 12 million people out of work in America as factories, banks, and other shops closed.
People Demand ‘Banks for the Common Good’ to Overthrow Multinational Behemoths A Common Dreams report: A coalition of social justice groups in Scotland looks at the economic and ecological dangers of corporate mega banks and mounts an argument for democratic reform In a new report (pdf) focused on Scotland but with global implications, a coalition of social justice groups in the U.K.
Having discussed the market's disturbing reaction to Mario Draghi's desperate "all in" monetary gamble - one which saw an early bout of euphoria followed by one of the most aggressive Euro spikes in history, second only to the "December debacle" and the Fed's March 2009 announcement of QE1, we were waiting for the just as important reaction by the ECB's nemesis: the one country that not only has seen hyperinflation first hand (and appears to recall it vividly), but is just as aware where the ECB's monetary lunacy ends: the Germans.
"You get nothing..."