Host Lauren Lyster interviews Jim Grant on The Daily Ticker in this video from economicpolicyjurnal.com.
Here is a quote from the article, “…the Fed intends to buy 85 billion, with a B, in securities every month. What you might ask is where does it get that money. It creates it, it didn’t exist before the Fed materialized it through the very humble action of a keyboard and a computer, that’s the way it does it. But notice that this money is coming into the system without any commensurate increase in production. This is money in search of mischief, and it is likely to find it. The Feds actions are counterproductive.”
If the Feds injecting 85 billion counterfeit dollars a month into the economy (QE3,4), since September, is considered counter productive, how much more counter productive was QE1 and QE2’s injection of 2.3 trillion total dollars since 2008. An even better question is (more…)
AUSTRIAN ECONOMICS ADDICT 