George Soros at the “Future of Europe” conference lambasted the state of the euro calling it broken down. It got more investing as Soros proposed a way around the ECB not being allowed to buy sovereign bonds. By using a special purpose vehicle created from the ECB’s seigniorage rights (estimated to be €2-3 trillion), the ECB would be able to purchase bonds indirectly without violating article 123 of the Lisbon Treaty. Yep, another trick to keep the debts rolling over and hocking european taxpayers with more debt.

Click here to read Soros’s proposal.

Advertisements