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A comment on What is money, anyway?. Parent comment

Re:What is money, anyway? by inglor_cz on Monday March 28, 2022 @03:36AM (#30828089)
The ECB bought a lot of dubious bonds from countries such as Italy precisely because they were unsellable in the private market (because of the low interest rate). If they had to sell them, few private buyers would be interested.

So, do these bonds cover something or do they just paper over a huge systemic problem?

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Re:What is money, anyway? by OscarCunningham on Monday March 28, 2022 @04:11AM (#30828313)
Did they buy them at par or at market rates? Either way, I assume they value them on their books at market rates, so it's still true that their assets are sufficient to 'back' the Euro.
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