Saturday, 20 October 2012
Where did all that QE money go?
Looks very much as though it went astray.
The big idea behind QE is that the money created by central banks to buy back government debt flows into domestic investment. But it seems from this article (and it looks to be well researched) that the Bank of England and British government have no idea where the money went.
As to the U.S. at least they KNOW WHERE their QE money went: it nearly all went abroad. At least that’s the case according to this article by Ellen Brown.
So congratulations to the great U.S. of A.: they know for sure that they’ve co*cked it up. In contrast, the British don’t know whether they’ve co*cked it up or not.