While everyone is asking what the big deal is with ECB Stabilizing Rates for now, and all the money it’s going to cost the American People, the real question is why anyone ever thought it was a good idea. Some say they are just trying to protect their markets from being manipulated or corrupted by “politicians” or by the big banks. That would make sense, but did anyone think that it was actually all that true? If it was just about the politicians or the banks, why not let them be, and let the markets do the manipulating?

Did anyone think inflation would be getting so out of control? Did anyone think that the Federal Reserve and the other central banks would get into such a mess that the American People would see trillions of dollars and is so fed up with it, that they would switch to the Federal Reserve Notes for the next ten years? Were the United States and the Federal Reserve buying too much or were they spending too little, and why did they allow all these assets to accumulate in the first place? It’s time to get serious now and stop making excuses.

All the things these folks said when they left rates down are what people have been hearing ever since the last recession. Yes, the economy is worse now than it was before, but that is no reason to not do something about it. People are ready to be rescued by saving our way back to an economic recovery. We need help from our Government, not more excuse making.

When the European Central Bank first began to weaken the Euro, the main thing they did was not to announce it openly. They pretended to save it, but they didn’t release any of the promised stimulus to the markets. So when the markets got it, it was too late to do anything about it. That is called hiding your costs.

When the Fed first began to weaken the Euro, the main thing they did was not to announce it openly. They pretended to protect it, but they didn’t release any of the promised stimulus to the markets. So when the markets got it, it was too late to do anything about it.

That is called letting the market fix the rates. It will be interesting to see if the markets and the Federal Reserve will come to the same conclusion that the markets are having trouble understanding that the ECB is not willing to defend its currency. Those are facts.

The European Central Bank must understand that they are creating a problem for themselves if they continue to keep rates at levels that will destroy their economies. In fact it looks like they are doing just that and it is now the consumers that have to pay the consequences.

The only thing they should do is to go ahead and announce that they are not willing to continue with the low interest rates and continue on the path to depression and death. Please consider all this in 2020. The ECB ought to say: “If you want to do business with us, we want the same kind of business. Please sign up with us and get your Euros now.” We need more than just loose ends tied up with loose credit. And we need to stop playing games with the economy.

The Fed and the ECB are in the situation where they should be doing more than they are, and we all need them to do more. What we don’t need is more wishful thinking from the President and his people. It is time to get serious.

I am glad the ECB and the Fed are doing their jobs now and not later. We all need a change and things need to be done now. This is a critical time and we cannot afford to wait.