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RE: RE: Confirmation Of Recession: The ECB Raises Rates
25
@taskmaster4450le
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1 min read
The ECB, along with other central banks are all failures because they are not central banks. If they were, they would be able to step in during times of monetary need, ie economic contraction. Yet they cannot. They play their games with reserves, which are just bank tokens that cannot be used to buy food or clothing. Hell, even to the commercial banks they are worthless since they cannot be used as collateral.
So yes it is a failure but not for reasons people think. If everyone stopped listening to them, especially markets, people would quickly see how impotent they truly are.
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