http://mises.org/community/blogs/fdominicus/archive/tags/central+bank/sham/end+the+central+banks/default.aspxTags: central bank, sham, end the central banksenCommunityServer 2008.5 SP2 (Build: 40407.4157)http://mises.org/community/blogs/fdominicus/archive/2011/12/23/it-39-s-happening-under-our-all-eyes.aspxFri, 23 Dec 2011 05:44:00 GMT944abf2b-d1be-4bf2-990d-438cb0e377e9:449931Friedrich Dominicus0http://mises.org/community/blogs/fdominicus/rsscomments.aspx?PostID=449931http://mises.org/community/blogs/fdominicus/commentapi.aspx?PostID=449931http://mises.org/community/blogs/fdominicus/archive/2011/12/23/it-39-s-happening-under-our-all-eyes.aspx#commentsThe ECB is now officially financing insolvent states. <p> Despite the laws for the ECB. How is that done? </p> <p> Very easy the ECB does not buy bonds directly of states but in a perfidiously way. As you have read yesterday the ECB lends out money to banks with 1 % interest for 3 !!! years. Now this money is just given with &quot;securities&quot;. The securites of the banks are? </p> <p> Promises of the states to back up the papers deposited by the ECB. Especially Italy has done that. And so you see it insolvent states back up securities for insolvent banks and insolvent banks are using bonds of insolvent states as securities. </p> <p> Now tell me anything about a sham... </p><div style="clear:both;"></div><img src="http://mises.org/community/aggbug.aspx?PostID=449931" width="1" height="1">liescentral bankend the central bankssham