Only 2 Choices – Restructure Debts or Debase Currencies (Hussman)

Last week, the European Central Bank pledged to spend as much as 750 billion euros (about a trillion US dollars) in an attempt to discourage market concerns about European debt, particularly that of Greece, Portugal and Spain. The intended message was to show the markets – particularly bond market “vigilantes” speculating against European debt – that the ECB has deep enough pockets to thwart the mounting pressure on European debt and the euro itself.

via Hussman Funds – Weekly Market Comment: Two Choices – Restructure Debts or Debase Currencies – May 17, 2010.

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