http://www.zerohedge.com/news/european-ponzi-goes-full-retard-efsf-found-monetize-itself
European PonGoes Full Retard As EFSF Found To Monetize... Itself
The Telegraph reports that the already reduced 3 EUR billion "target was only met after the EFSF resorted to buying up several hundred million euros worth of the bonds." You read that right: in its first bond issuance since its transformation to the European Bank/Soveriegn Bailout Swiss Army Knife, the EFSF not only failed to raise a minimum token amount, but also had to... buy its own bonds. We can assume that the money the EFSF needed to fund said purchase came from the money growing tree, as at last check the ECB was still not funding the EFSF with crisp, new zEURq.PK equivalent binary 1s and 0s. But at least we all know what happens when the global ponzi goes full retard.
More on this surreal story which will be promptly buried in the barrage of Monday headlines because an international advisor to Goldman Sachs is now in charge of Italy.
European PonGoes Full Retard As EFSF Found To Monetize... Itself
The Telegraph reports that the already reduced 3 EUR billion "target was only met after the EFSF resorted to buying up several hundred million euros worth of the bonds." You read that right: in its first bond issuance since its transformation to the European Bank/Soveriegn Bailout Swiss Army Knife, the EFSF not only failed to raise a minimum token amount, but also had to... buy its own bonds. We can assume that the money the EFSF needed to fund said purchase came from the money growing tree, as at last check the ECB was still not funding the EFSF with crisp, new zEURq.PK equivalent binary 1s and 0s. But at least we all know what happens when the global ponzi goes full retard.
More on this surreal story which will be promptly buried in the barrage of Monday headlines because an international advisor to Goldman Sachs is now in charge of Italy.
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