Robot Lane Or: How I Learned to Stop Worrying and Love the Euro Bond

YouKnowWhatIMeanLike

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Governor of the Central Bank of Ireland Philip Lane seems to go native here with the EU socialist desire du jour with his recommendation to have robots now decide on the issuance of European Safe Bonds to roll over that massive debt mountain at the ECB. As if this would change the innate obsession of EU governments to dabble with debts markets.

But Lane insists “There is no possibility for anyone to interfere with the robot.”

Last time anyone seriously mentioned “near zero-risk synthetic assets” was shortly before the financial crises blew up the banking system in 2008 with derivatives.

looks like it's time to run for the hills again lads.

https://www.reuters.com/article/eurozone-bonds-safeasset/bond-issuing-robot-may-help-europe-avoid-next-crisis-idUSL8N1PH2WN


https://wolfstreet.com/2018/01/24/ecbs-new-plan-b-oh-my-synthetic-structured-eurobonds/
 
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O'Quisling

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with the EU socialist desire d' what ?

Ahh. I think I think I know what you're saying. The EU is bad; socialism is bad. Ergo the EU is socialist.

The EU is corporatist. Not socialist. Never was, never could be. But don't let accuracy get in the way of a good rant. I'm away to me bed.
 

Half Nelson

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"the issuing entity must follow strict guidelines"
-A robot may not injure a human being or, through inaction, allow a human being to come to harm.
-A robot must obey orders given it by human beings except where such orders would conflict with the First Law.
-A robot must protect its own existence as long as such protection does not conflict with the First or Second Law.
Isaac Asimov
What could possibly go wrong?
 

Half Nelson

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He probably never read 2000 AD or any SF about battle droids or even seen Battlestar Galactica. :)
I Robot (the movie) may be nearer the mark. Will they name it VIKI?
 

YouKnowWhatIMeanLike

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with the EU socialist desire d' what ?

Ahh. I think I think I know what you're saying. The EU is bad; socialism is bad. Ergo the EU is socialist.

The EU is corporatist. Not socialist. Never was, never could be. But don't let accuracy get in the way of a good rant. I'm away to me bed.
good morning O'Quisling. Euro bonds without a political union are bad for the EU. The ECB sits already on 4+ trillion euro of bad debt and TARGET2 liabilities. turning the ESM into a fund rather than a bailout instrument without massive write offs is just window dressing.
 

EUrJokingMeRight

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Crash imminent! :D
 

Analyzer

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with the EU socialist desire d' what ?

Ahh. I think I think I know what you're saying. The EU is bad; socialism is bad. Ergo the EU is socialist.

The EU is corporatist. Not socialist. Never was, never could be. But don't let accuracy get in the way of a good rant. I'm away to me bed.
The nEU empire seems very inclined to build policy that represents "socialism for the rich" and competition for the poor.

In case you forget, I present a leading advocate.

For Pete's sake give a lot....it means little.

 

Analyzer

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O'Quisling

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good morning O'Quisling. Euro bonds without a political union are bad for the EU. The ECB sits already on 4+ trillion euro of bad debt and TARGET2 liabilities. turning the ESM into a fund rather than a bailout instrument without massive write offs is just window dressing.
100%

One Giant Pyramid Scheme
 

Dasayev

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Haven't computers been blamed for market crashes previously?
 

HarshBuzz

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Haven't computers been blamed for market crashes previously?
That's algorithmic trading. Has caused 'flash crashes'.

This is issuance of bonds. Completely different.
 


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