DislikedHi ALL,
I hope you are doing well.
Just some thoughts.
Maybe the enlighten will shead some light for me.
in 2003, KC liu came to me asked for some assistance , revive our scouts brotherhood.
At that time, the whole movement was going to the wolfs.
They lost Royal Air force support , lost government support, Lost comaradieship with other troops of similar activities.
In short become splinter of everything and anything peeps wanted them to be.
KC, Wan HY,myself and a very dedicated teach named raguna, we rolled uped our sleves, to bring life back...Ignored
the only juristriction for ECB was price stability... they now let banks park money overnight,they are buying periferal debt and they swap euro for dollars with the fed for banks liquidity... so they took some tasks wich are not theirs originaly...
you asked valid CB?? i think ECB was not a valid CB... mostly the national CB's regulated financial markets... i think they are too small so i guess ECB has taken over some tasks like overnight deposits.
i cannot understand the implications but it sounds like the market is broken.... normaly banks would do these things between themselves right???
when the shit realy starts flying... politicians can ignore democraty... and use real firepower... and explain it to the public/ voters. they did so after lehman brothers.
i have a bad feeling it has to get much worse before politicians can act and then it's maybe too late. the scary thing is i cannot imagine what too late means.
my wishfull thinking is they understand how bad it is going to be and kick the can down the road to get ready...
i hope you will ignore the turmoil in the world when you need to relax!!
kind greets, pax
even with my eyes open i cannot see everything