But European Central bank takes action against the coronavirus fox investors say its not enough shares go into freefall again will try to find out if e. C. V. Can do anything to stop the spread of a float. And china says the peak of the coronavirus epidemic has passed but asian markets ignore the numbers and the stimulus that governments are throwing at the infection. And it was all a lets do business investors and not liking this the e. C. B. Announcing it will release a batch of cheap loans to help Member States deal with the coronavirus and that it will expand its Bond Buying Program both moves intended to stabilize jittery markets and aid Small Businesses e. C. B. Also says it will ease Capital Requirements for banks in the e. U. To improve liquidity at the governing council led by new president christine the god left Interest Rates unchanged diversion from Central Banks in the u. S. That u. K. Deposit rate was already at a record low of mine is point 5 percent. Well lets have a li
About the condit on exchanges it does not look like a good day now of the markets or are the really taking a beating before the e. C. V. Decision and this really just it was a surprise and a big disappointment for investors they had pretty much across the board been expecting a cut and and the main Interest Rate and the e. C. B. Did not do that so were obviously seeing i shake out in the market right now but there had already really a lot of a lot of anxiety coming into this especially after the announcement of the travel ban on on europe last night so stocks that are really really have been under a lot of pressure and this disappointment its certainly not helping tell me why why why why has the e. C. B. Not cut rates. Well were going to hear more about that in the press conference likely from Christine Lagarde but. There is there is only so much that an Interest Rate cut could do and there are a lot of downsides for the e. C. B. Right now the unlike the Federal Reserve its already hav
Relief. And. Stepped up its missile test. To read more about those stories and others at r. T. Dot com coming up next it is the latest casualty with. I am max kaiser this is the kaiser report were getting ready for the global showdown central bank that being the i. M. F. In this case versus bitcoin the venue argentina thats why were here were here now were witnessing historic epic proportion of the vote yes of course when we booked to come here the currency crisis was not in such a full swing now it is we have a new president elect here and he has turned down the last 11000000000. 00 payment from the i. M. F. But i just want to say on our observations im here with the National Color here i look i feel like i look like Lionel Messi Gomez 6 gold bowls must be having. I have been a little bit surprised about how. How would you say posh. Its hours and hours of walking across the city and all sort of directions that it feels probably even more prosperous and living in paris being in paris i
A weapon to fight the carpet baggers at the i. M. F. The charlatans like Christine Legarde and that would be bitcoin but i noticed on a local bitcoin use in big coin in argentina is skyrocketing this is were ground 0 is in the big coin versus central bank its happening right here what is there is right here in argentina yes the population of oneness are of argentina has soared since 880 prior to that there were about 2000000 people here and now theres 40 something 1000000 but i just want to go over the date on the economy and just so you understand according to the i guess its the World Bank Data 518000000000. 00 as their g. D. P. In 2018 and thats down from about 637000000000. 00 in 2017 you know this guy makary he was hailed kind of in the western press anyway as a great meal liberal reformer and hes going to bring deregulation and all sorts of boom times for the economy but he did end up taking a 50. 7000000000. 00 i. M. F. Loan in 2018. 44000000000 of that has been dispensed and si
Walking across the city in all sort of directions that it feels probably even more prosperous than living in paris being in paris it is kind of odd to see this situation and i think part of it is that theyre so used to currency crises here that its almost like theyre so prepared for it that when it comes its like oh great everythings discounted for us all the argentinians are resourceful people and you cant take away their dignity and thats what they have and its based on a fantastic culture fantastic people the here and one desirous of meeting so many fantastic people in the cultural depth is extraordinary unlike the u. S. Where the there really is no culture other than hollywood there you have hundreds and hundreds of years thousands years of culture youve got the influence of folks coming from all over the world principally italian and its just fantastic and you know what were seeing here is a resilience to the overlords from the Central Banks like the i. M. F. And for the 1st time