by Ellen Brown Rather than expanding the money supply, quantitative easing (QE) has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit. The “failure” of QE has prompted the Bank for International Settlements to urge the Fed to shirk …
Economics Debunked: Chapter Two for Sixth Graders
Economics Debunked: Chapter Two for Sixth Graders Posted: 22 Sep 2011 01:35 AM PDT Readers gave high marks to Andrew Dittmer’s summary of a dense but very important paper by Claudio Borio and Piti Disyatat of the BIS and asked if he could produce more of the same. While Andrew, …
Why QE2 Failed: The Money All Went Offshore
Why QE2 Failed: The Money All Went Offshore Ellen Brown July 8, 2011 http://WebofDebt.com/articles On June 30, QE2 ended with a whimper. The Fed’s second round of “quantitative easing” involved $600 billion created with a computer keystroke for the purchase of long-term government bonds. But the government never actually got …