“I see yields in Greece, Portugal, Ireland, Spain and Italy rising and in the case of Greece and Italy, soaring and the stock markets are soaring along with them. Perhaps the reason why they are soaring is not because the underlying countries are solvent. Maybe it’s because they are aware that the new head of the ECB, Mario Draghi, makes Bernanke look like a hawk.
"Don’t foget Mario Draghi came in and within 3 days of taking office, cut interest rates...Not only that, he says that he will, and I‘m interpreting his language, ‘We will print enough euros and as many euros as it takes to give the countries in Europe some semblance of solvency. There is no limit to what we will do to prop up banks and to prop up governments that are completely insolvent.’"