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FSN: Helicopter QE Will Never Be Reversed
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Readers of the Daily Telegraph were right all along. Quantitative easing will never be reversed. It is not liquidity management as claimed so vehemently at the outset. It really is the same as printing money.
by Ambrose Evans-Pritchard
Telegraph.co.uk
Columbia Professor Michael Woodford, the world’s most closely followed monetary theorist, says it is time to come clean and state openly that bond purchases are forever, and the sooner people understand this the better.
“All this talk of exit strategies is deeply negative,” he told a London Business School seminar on the merits of Helicopter money, or “overt monetary financing”.
He said the Bank of Japan made the mistake of reversing all its money creation from 2001 to 2006 once it thought the economy was safely out of the woods. But Japan crashed back into deeper deflation as soon the Lehman crisis hit.
Continue Reading at Telegraph.co.uk…
2013-04-03 14:02:42
Source: http://silveristhenew.com/2013/04/03/helicopter-qe-will-never-be-reversed/
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