Quantitative Easing: Elixir or Poison? | WHAT REALLY HAPPENED

Quantitative Easing: Elixir or Poison?

Market Ticker's Karl Denninger calls QE "the largest tax ever imposed on the American people in the history of the nation. It is more than fourteen times the Bush tax cuts....Goldman Sachs believes that Bernanke will impose a total tax through (QE) of more than four trillion dollars over the next two years, or more than fifty-seven times the Bush tax cuts."

How so? Because credit created is going into asset markets (stocks, bonds, commodities, etc.), not the economy. QE I's tax, in fact, diluted stimulus funds, an offsetting tax "directly into the bankers' pockets" for speculation, big salaries and bonuses.

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