Dumping Short Dated Paper is QE3? The Fed has 1.2 Trillion at least by their own admission in short dated paper, they are buying 400 billion in Long Dated Paper.
Does this look like Zimbabwe aka Helicopter Ben in motion to you?
They dump 1.2 Trillion of Short Dated Paper into the market what will be the effect?
The Fed is a consortium of banks so that holds this paper on their balance sheets, so the banks are raising cash, as in dumping short dated paper, for a 2/3 less long dated paper? 1.2 Trillion Short Dated paper for 400 Billion Long Dated paper. By next June.
So this is a flood of cash?