An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Wednesday, October 15, 2008
Bloomberg: ECB Leads Push to Flood Banks With Unlimited Dollars
The figure is up to $354 billion already. That is a huge amount of borrowing in a foreign currency--the USD. History has shown that borrowing in foreign currency leads to disaster. This could be the beginning of the end of the euro, and Eurzone as we know it.
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