A Peoples’ QE: Hungarian Style

You know how our US QE went to big banks and they just sat on it because the Fed paid them too?

Didn’t you hate that?

Me too.

Luckily Hungary provides us with a great blueprint for a true “Peoples’ QE”

“Gyorgy Matolcsy is rewriting the rules for central banking inside the European Union to include family and friends.  Since being tapped to run the National Bank of Hungary by Prime Minister Viktor Orban three years ago, the former economy czar has funneled the equivalent of almost $1 billion to six foundations he set up over the objections of his supervisory board and to the irritation of EU officials.”

 

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When asked for comment, PM Orban said, “Checks and balances are a U.S. invention that for some reason of intellectual mediocrity Europe decided to adopt,”

Ah yes, the USA where the Magna Carta was signed in 1215 (I believe it was in Dallas)!

So people, when people ask you why does our Fed have to be such a stick in the mud?, you can answer, “intellectual mediocrity”/

 

 

The Devil don’t wear Prada: Turkish Embargo Edition

Some things are just too good. Like this story (I pray that it’s true)

One Russian entrepreneur’s quest to make and sell anti-Turkey tee shirts has been thwarted by…..

Russia not allowing trucks coming from Turkey with her fabric to enter the country!!

“If these trucks finally arrive with Turkish fabric, we will definitely release a collection of anti-Turkish-themed clothing,” Dobryakova was quoted as saying. “The trucks are stuck. Our suppliers are panicking because the vehicles aren’t being allowed to cross the border.” 

So the wily Turks have managed to shoot down a Russian plane AND not have to have a line of anti-Turkish tees being paraded around?

Where I come from that is called a win-win situation.