Wednesday, January 19, 2011

Central Bank of Ireland to Begin Printing €51 Billion of Its Own Money!

Ireland may be a canary in the coal mine for the state of the European economy like Iceland was a couple of years back such that the Irish financial state may be a predictor of future economic shocks in the rest of the European Union. Fake money is never a good thing for an economy and similar to our Federal Reserve, the Central Bank of Ireland is about to start printing its own money. As the Wu-Tang Clan once said, "Cash rules everything around me."

EMERGENCY lending from the ECB to banks in Ireland fell in December, the first decline since January 2010, but only because the Irish Central Bank stepped up its help to banks.

The Irish Independent learnt last night that the Central Bank of Ireland is financing €51bn of an emergency loan programme by printing its own money.


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