,
3 tweets,
2 min read
Read on Twitter
Printed the paper & closing @Trinhnomics shop for the weekend. Did u see that move downward by EUR to 1.1085 on this 'bazooka' news? EUR 19% off since NIRP implementation in 2014 (negative rates + cheap FX) & Eurozone growth still weak means PIRP>NIRP🤗
imf.org/en/Publication…
imf.org/en/Publication…
Have had 5yrs of NIRP & growth sags & Euro zone banks are suffering & will suffer more & the conclusion is? Deductive reasoning tells u that maybe it's best to not tinker but the ECB will do the opposite. Doing the 'bazooka'. As George said, it's like "shooting the elephant."🐘
😮 This paper is mind blowing. Will tweet my reading soon. I highly recommend everyone to read it. It is worse than you think. Much worse. And they are right in their thesis - the whole point of this is just to empower central banks or shall I say a manual on a CB takeover. Urgh
