The key point of the Welt Online story is the increasing isolation of Weidmann, including an official denial by the Bundesbank.
Consider this quote from yesterday as reported by Bloomberg. ...
“Nobody should try to create the impression that the Bundesbank or its president are isolated,” German ECB Executive Board member Joerg Asmussen told the Frankfurter Rundschau in today’s edition.
Mish Translation: "The Bundesbank and its president Jens Weidmann are without a doubt isolated and essentially ignored. The printing press door is open and the presses ready for operation."
However, there are a few open questions as follows.
- When Draghi fires up the presses
- Speed at which he prints
- How much gold and silver rise in response