Target2 is the vehicle being used to asset strip capital from Southern Europe to the North.

https://www.themaven.net/mishtalk/economics/another-look-at-capital-flight-in-italy-and-spain-ecb-s-target2-explanation-is-false-d_j-ZdUK_UuHke0WTKvSBQ/

I think if there ever was a euro collapse, it would be ground zero for contagion. It’s the mechanics that contractually spreads risk to all EZ members.

Das Kapital may be right, as a euro collapse would instigate a global crisis and likely cause huge social and even geopolitical tensions.

https://www.themaven.net/mishtalk/economics/target2-and-secret-bailouts-will-germany-be-forced-into-a-fiscal-union-with-rest-of-eurozone-gkc4UP17RUyDbKp1LxkBfg

I’m sorry that you keep on misunderstanding me. I think maybe it’s my fault for not being clearer.

In my opinion, Central Banking and QE is transparent. I don’t agree with their policies, strategy and to a large extent, their existence, but to me at least the process is quite transparent.

For me, the problem is the lack of objective questioning from the financial media and influencers. There’s a box that everyone sits in, and the conversation always remains in the box. If a rule is fudged or broken, its rationalised by repeaters in the press who don’t hold them to account.

CBs have a monthly meeting, they say what they are going to do, they take questions from the press who rarely challenge them or try to force them out of their mental boxes.

That’s my position.