ECB was there, She was in the Italy bond auction…ECB has been lying to us again. If you have paid attention to the Italy 1 Year Auction yesterday. You will find the ECB was cheating the world.

ECB insisted she was not a participant in the Italy bond auction. And she emphasized the 1 year bond yield result “6.09” is triggered by the demand of the market.

Indeed, the secondary market Italy 1 year bond auction yield was 7.2% at that time. Hence, the question is, why there is 1.1% spread for the same debt? Who has motivation to step into the auction to force the yield down? I think most of us know the answer. It is definitely ECB.

ECB has to do something to delay the crises by printing a huge amount of money. However, who can save the Italy? I really has no idea.