Zero Hedge: When and how will central banks escape their addiction to QE? That question was addressed in a report by the UK House of Lords.
The House of Lords is Investigating a Dangerous Addiction to QE
The report is through the eyes of the UK regarding the Bank of England but the comments and concerns apply to every central bank. Here are some snips.
Third Seal: Scarcity on Earth
5 When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse…” Rev. 6:5-6
Lords: In the UK, quantitative easing was envisaged, at the point of introduction in 2009, as a short-term measure to support the economy through the global financial crisis. However, over the last decade or so, the programme has expanded substantially, and it has become the Bank of England’s main monetary policy tool.
Mish: It was supposedly going to be short-term everywhere. It wasn’t. Read More