Skip to comments.European Central Bank to Launch New Stimulus Program [Revelation 13]
Posted on 03/17/2016 2:38:15 PM PDT by Jan_Sobieski
Last week, European Central Bank chief Mario Draghi (shown) tried to do an impression of former Federal Reserve Chairman Ben Bernanke. Although "Helicopter Ben" he of the massive, innovative "stimulus" monetary policies enacted in response to the Great Recession, which pumped trillions of new dollars into the global economy has been retired from the helm of the Fed for several years, he casts a very long shadow indeed. Draghi's own newly enacted stimulus, designed to boost Europe out of persistent economic malaise, not only takes a few pages out of the Bernanke playbook, it moves central banking into entirely new, much more overtly socialist territory than even Bernanke could have envisioned.
Now Draghi has introduced a new wrinkle to "open market operations." In addition to purchasing government-issued bonds, the ECB will now begin purchasing bonds issued by private corporations. The ramifications of this are enormous. For one thing, it will amount to a massive new subsidy of selected private corporations, which will immediately enjoy a gargantuan competitive advantage over others (including foreign competitors) whose bonds the ECB does not purchase. For another, it will greatly magnify the inflationary potential of the ECB. For a third, it will create perverse incentives for private corporations to issue more debt than they would otherwise do. And lastly, it will entail a partial de facto if not de jure takeover of the private sector by the ECU, since ownership of tranches of private corporate debt will give the central bank ascendancy over their finances. This is financial socialism on an unprecedented scale...
(Excerpt) Read more at thenewamerican.com ...
Revelation 13:1 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy. 2 And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority. 3 And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast. 4 And they worshipped the dragon which gave power unto the beast: and they worshipped the beast, saying , Who is like unto the beast? who is able to make war with him? 5 And there was given unto him a mouth speaking great things and blasphemies; and power was given unto him to continue forty and two months. 6 And he opened his mouth in blasphemy against God, to blaspheme his name, and his tabernacle, and them that dwell in heaven. 7 And it was given unto him to make war with the saints, and to overcome them: and power was given him over all kindreds, and tongues, and nations. 8 And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world. 9 If any man have an ear, let him hear.
So glad you added the Bible Verse notation in the headline!!!!!!!!!
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