The ECB shows over the last years, that it is really a special centralbank … following the footsteps of the German Bundesbank, now an affiliate of the ECB.
The ECB is now the last “one” standing … the only one on the planet you can trust … what a difference to the BoE or even the FED!!!
WHY??? PLEASE LISTEN BEN B. !!!
1. The ECB does act when they feel it is needed.
2. The ECB does exactly what they tell you … whether you like it or not
3. From the ECB you get … No announcements without follow up … no REVERSE action the other day
4. From the ECB you get … No zig zag policy
5. From the ECB you get … No PREINFORMED investment banks
6. If there is a problem … they go to the ground of it immediately … again … whether you like it or not (I know it from experience!)
Thanks and credits to the BUNDESBANK as it set standards that HIGH!!!
The last example was presented to us today …
As the BoE is far off from understanding what is going on (The handling of the Northern Rock story makes me sooo SICK!!!) and keeps stumbling around and the FED (as well as the SEC) are only ridiculous creatures in a Hollywood Style rigged scheme … the ECB STANDS OUT as the only honest institution you can bank on …
They were unsatisfied with the situation which unfolded in the money markets …
As every bank wants to have a CASH PACKED balance sheet at the end of the year and so reduces the lending to others … the market was very tight … so the ECB acted … and had the immediate success …
Most interestingly, most of the comments I read don’t understand the move … I recommend to read the ECB website … and YES … it is in ENGLISH … they should be able to read it … even Mr King, the funny and helpless guy from the BoE … PLEASE READ IT … and take it as an example