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Quantitative Easing: Inflation To Go Nuclear Right After The Election

• EconomicPolicyJournal.com
 
Gary North has a very important article explaining what 'quantitative easing' is and the powder keg that a trillion dollars in excess reserves. It is must reading. Note: I am not sure when North submitted the article for publication to LewRockwell.com , but he writes: I think we are going to get quantitative easing, although I do not know when this will begin. The "when" is now clear. It is right after the mid term elections. In recent days, the Fed chairman Ben Bernanke has told us so. So has NY Fed president William Dudley, Chicago Fed president Charles Evans and the head of trading at the NY Fed Brian Sack. It's coming. Most remarkable, according to Goldman Sachs, the new round of QE will be in the range of one trillion plus. Got that? North is rightfully concerned about the trillion sitting on the sidelines as excess reserves. The Fed is going to dump on top of this another trillion dollars! In other words, forget the powder keg, a trillion on top of a trillion means the Fed is about to go nuclear. Inflation here we come.

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