“European Central Bank President Mario Draghi’s bond-buying proposal involves unlimited purchases of government debt that will be sterilized to assuage concerns about printing money, two central bank officials briefed on the plan said.
Under the blueprint, which may be called “Monetary Outright Transactions,” the ECB would refrain from setting a public cap on yields, according to the people, and a third official, who spoke on condition of anonymity. The plan will only focus on government bonds rather than a broader range of assets and will target short-dated maturities of up to about three years, two of the people said.”
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The ECB will sterilize unlimited debt purchases so that it cannot reproduce and make more debt!
I’m calling my credit card toll-free number to get my debt sterilized!
Scavenger,
that would be great for everyone killed by usury.
BTW short term purchases and no caps on yields will fail.