QE2: It’s the Federal Debt, Stupid! – Ellen Brown
November 13th, 2010
(Truthout) – Unlike QE1, QE2 is not about saving the banks. It’s about saving the country from Greek-like austerity measures necessitated by a burgeoning federal debt. The debt is never paid, but is just rolled over from year to year; but the interest is paid, and it is here that QE2 relieves the pressure, since the Fed rebates its interest to the Treasury.
The inflation hawks are circling, warning of the dire consequences of the Fed’s new QE2 scheme. “Quantitative easing” (QE) is Fedspeak for creating money out of nothing with a computer keystroke. Read More Here
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