Banks Demand that the Fed and ECB "Try Every Last Thing They Can" to Save Their Hyperinflated Ass
August 1, 2012 • 9:30AM

U.S. Treasury Secretary Tim Geithner, wanted on this side of the Atlantic for criminal complicity with the banks' LIBOR looting rampage, spent July 30th in Germany, where he tried to break every available limb of German Finance Minister Wolfgang Schaeuble's, to get him and Chancellor Angela Merkel to go along with the hyperinflationary bailout strategy uttered last week by ECB head Mario Draghi.

The "Weimaristas" that Geithner represents are desperate beyond words. They are putting on a full-court press to get the U.S. Fed (at this week's Tuesday-Wed FOMC meeting), the ECB (at its Thursday rate-setting meeting), and the Bank of England (which also meets Thursday), to print money like there's no tomorrow. A Bloomberg wire quoted JP Morgan's chief U.S. economist Michael Feroli saying: "They [the Fed and the ECB] are at the end of their rope and are probably searching for every last option for what they can do... You can't rule anything out, because they're going to flail around and try every last thing they can."

In the same vein, the London Telegraph's Angela Monaghan writes that there is "mounting speculation of a dramatic intervention by the ECB to arrest the crisis engulfing the region."