"With so much fear and uncertainty in markets around the world, today King World News reached out to Ben Davies, CEO of Hinde Capital. Davies told KWN that “Bank capital is scarce” and “the ECB will react with a 3rd LTRO as their is no alternative for them.” He also said, “the FED will power up the US dollar Swap lines.” Davies also discussed gold, but first, here is what he had to say about what is happening in Europe: “I would note we are in a deflationary spell. The European default process, I outlined over last few years, is about to become disorderly. The Greek risk escalates the disorderly default risk for others in the periphery. The ECB and IMF stand to lose most on the Greek default, hence the 5.2 billion euro disbursement, paid on 10th May.”
at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/11_Ben_Davies_-_3rd_LTRO_Coming_%26_Fed_to_Power_Up_Swap_Lines.html
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