The ECB warns against DAX 10,000 … and caused said warning itself by interest-free money.
This is material for Gutjahr and Rangi Yogeschwar in their correct journalistic reporting. It is high time for an ideological criticism against the ECB money politics (mind you: this is no “capitalism criticism” as we had it in the 19th century).
If too little is invested in the € countries, then the reason for this is not that money costs too much. In fact, it is already very cheap. Even Karl Schiller knew without simulation calculations: “You can carry horses to the trough, but they must do their own drinking”.
The true EU bank scandal lies in the fact that government bonds still do not have to be backed by individual capital. Naturally, another scandal is that shadow banks are not even regularized through individual capital deposits. And that derivatives produce multitudes of borrower’s notes which at any time may switch from the game table to the economy of real products if business suffers interruptions.
Here is what I demand: “Assign chips to the players = strict regulation of the derivative market”. That would mean they would have to stand in the queue at the casino cashier’s desk for their money and at least the federally regulated casino would make a profit. And the tables could be closed down at any time. Ackermann (Deutsche Bank) could not have been more wrong when he said that substance-free capital flows will create wealth.
The breach of the Lisbon Contracts “no bail out” was in violation of the law of nations and must be rectified. At least those who violate the contract should be legally forced to exit the € zone. Such an exit might be voluntary or forced due to violation of contract. What we are currently doing by shaving off retirement money, life insurances and savings through low interests cannot continue.
Or else, you have to face the responsibility: The slogan “If the € fails, Europe will have failed” is such a brilliant formulation that most of the journalist still swear by this formula, regardless of the fact that the propaganda slogan does last two minutes under closer scrutiny.
But this is how it works: the fashionable media ideology (the latest error of the editorial departments: “EU criticism == anti-European”). The back coupling mechanisms are hard to explain and if, like today the ECB, you lament your own back coupling, then you have to masquerade as the hen if you are the fox. Greetings from anonymous.
wl
(Translated by EG)
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