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  • #948,141
  • Jan 7, 2015 4:58am Jan 7, 2015 4:58am
Quoting mrcreosote
{quote} OK, fair point, yes the 'treaty' that was a complete waste of time and money Ok then in terms of 'banking/finance treaties' is it or is it not currently legal to 'print money'?
I'm not expert on banking laws, but I can answer you without doubt it's not illegal.

Take note that I'm not saying it's legal. So there is subtilities but I dont have time to elaborate on those.
Don't be smart. Be rich.
  • #948,142
  • Jan 7, 2015 5:00am Jan 7, 2015 5:00am
Quoting Devonsent
{quote} Legal to print money? Is a question that I think Germany is about to ask of the EC of Justice
It was asked of them quite a while ago, maybe they like prancing around wearing silly wigs and getting paid extortionate amounts of money for not doing a lot?
used to be undecided but nowadays can't make my mind up
  • #948,143
  • Jan 7, 2015 5:01am Jan 7, 2015 5:01am
Quoting maximinus
{quote}but I can answer you without doubt it's not illegal..
You're wrong, that's why it's with the ECJ :nerd:
used to be undecided but nowadays can't make my mind up
  • #948,144
  • Jan 7, 2015 5:02am Jan 7, 2015 5:02am
Quoting maximinus
{quote} I'm not expert on banking laws, but I can answer you without doubt it's not illegal. Take note that I'm not saying it's legal. So there is subtilities but I dont have time to elaborate on those.
Exactly. Btw ECB CAN print EURO and its legal, thats what European central bank is for to control money supply, and is its in legal rights to increase it. The problem with legalitiy is not printing, its buying of bonds, if ECB can directly buy heckload of other countries bonds.
  • #948,145
  • Jan 7, 2015 5:03am Jan 7, 2015 5:03am
Quoting Devonsent
{quote} Legal to print money? Is a question that I think Germany is about to ask of the EC of Justice. I believe the phrase they used was that it "infringes on the rights of member nations . . . " Which I thought was precisely what monetary union was designed to do anyway!
If true, then we progress and german politicians are progressing by stopping politizing their Constitutional court (one of the best in the world) and finally understand that only ECJ has jurisdiction.

To whom are you referring, please ?
Don't be smart. Be rich.
  • #948,146
  • Jan 7, 2015 5:04am Jan 7, 2015 5:04am
Interesting hourly close, right on 1.18500 after breaching and touching 1840 it did not manage to hold it
  • #948,147
  • Jan 7, 2015 5:05am Jan 7, 2015 5:05am
Quoting mrcreosote
{quote} You're wrong, that's why it's with the ECJ :nerd:
Ok then you win and I give you the point and we can end the discussion. Good luck.
Don't be smart. Be rich.
  • #948,148
  • Jan 7, 2015 5:08am Jan 7, 2015 5:08am
Quoting janpec1000
{quote} Exactly. Btw ECB CAN print EURO and its legal, thats what European central bank is for to control money supply, and is its in legal rights to increase it. The problem with legalitiy is not printing, its buying of bonds, if ECB can directly buy heckload of other countries bonds.
But as you can see we are used to have economic and finance gurus and we also have experts in european union laws who by the way ignore that the Constitutional treaty was never ratified. Amazing I told you whenever I read posts on this subject.

I'm off.
Don't be smart. Be rich.
  • #948,149
  • Jan 7, 2015 5:09am Jan 7, 2015 5:09am
Quoting Paulenok
Interesting hourly close, right on 1.18500 after breaching and touching 1840 it did not manage to hold it
Also, since Monday, London/NY daily range has been measly 50pips, if that is the case aswell today, 840 should mark the low of the day
  • #948,150
  • Jan 7, 2015 5:11am Jan 7, 2015 5:11am
Quoting maximinus
{quote} But as you can see we are used to have economic and finance gurus and we also have experts in european union laws who by the way ignore that the Constitutional treaty was never ratified. Amazing I told you whenever I read posts on this subject. I'm off.
No no come back
WE do need to be careful with semantics here quote
Debt monetization is not the same thing as “printing money” but it has many of the same effects. Debt monetization describes the process of turning U.S. Treasury debt and private corporate debt into money.
In effect the ECB want to monetize debt a la Fed but according to Buba this is illegal, as it should be....
It's ok printing money if you give it direct to the people but inevitably it's the 'fat bankers' who benefit the most
Anyway, enough from me, I've done my 'moral crusade' for today
used to be undecided but nowadays can't make my mind up
  • #948,151
  • Jan 7, 2015 5:13am Jan 7, 2015 5:13am
come on

more more
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  • #948,152
  • Jan 7, 2015 5:15am Jan 7, 2015 5:15am
Set up my buy order @ 50% Fib - 1.1820. Just need this pair to continue south now..
  • #948,153
  • Jan 7, 2015 5:16am Jan 7, 2015 5:16am
Quoting mrcreosote
{quote} It was asked of them quite a while ago, maybe they like prancing around wearing silly wigs and getting paid extortionate amounts of money for not doing a lot?
. . . like most of the european organisation (not the wigs but the money!)
  • #948,154
  • Jan 7, 2015 5:20am Jan 7, 2015 5:20am
Quoting maximinus
{quote} If true, then we progress and german politicians are progressing by stopping politizing their Constitutional court (one of the best in the world) and finally understand that only ECJ has jurisdiction. To whom are you referring, please ?
Germany's Constitutional Court . . . just looked up the quote:

“In the view of the Senate, there are important reasons to assume that it [QE] exceeds the European Central Bank’s monetary policy mandate and thus infringes the powers of the member states, and that it violates the prohibition of monetary financing of the budget,”
  • #948,155
  • Jan 7, 2015 5:23am Jan 7, 2015 5:23am
USD: ADP Non-Farm Employment Change & Trade Balance will be negative "Inn sha ALLAH".​
  • #948,156
  • Jan 7, 2015 5:24am Jan 7, 2015 5:24am
Quoting Paulenok
{quote} Also, since Monday, London/NY daily range has been measly 50pips, if that is the case aswell today, 840 should mark the low of the day
You may well be right but, frankly, this pair haven't followed any pattern over the past six months so why change now!
(Apart from down, of course)
  • #948,157
  • Jan 7, 2015 5:27am Jan 7, 2015 5:27am
Quoting Devonsent
{quote} Germany's Constitutional Court . . . just looked up the quote: “In the view of the Senate, there are important reasons to assume that it [QE] exceeds the European Central Bank’s monetary policy mandate and thus infringes the powers of the member states, and that it violates the prohibition of monetary financing of the budget,”
Thanks. I'd be grateful to you if you provide the link. I'm just too busy atm sorry for disturbing you.
Don't be smart. Be rich.
  • #948,158
  • Jan 7, 2015 5:31am Jan 7, 2015 5:31am
Quoting maximinus
{quote} Thanks. I'd be grateful to you if you provide the link. I'm just too busy atm sorry for disturbing you.
This was where I last read about it:

http://rt.com/business/germany-court-omt-ecb-023/

and this is the link to the German Constitutional XCourt but the English page is down at the moment:

http://www.bundesverfassungsgericht....g14-009en.html
  • #948,159
  • Jan 7, 2015 5:32am Jan 7, 2015 5:32am
Very strong sellers at moment on EU, all buying attempts even good ones are dumped quickly.
  • #948,160
  • Jan 7, 2015 5:33am Jan 7, 2015 5:33am
Quoting Devonsent
{quote} This was where I last read about it: http://rt.com/business/germany-court-omt-ecb-023/ and this is the link to the German Constitutional XCourt but the English page is down at the moment: http://www.bundesverfassungsgericht....g14-009en.html
Don't be smart. Be rich.
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