Lord Turner :"today in the UK a mere 15 per cent of total financial flows actually go into "investment projects"; the rest support existing corporate assets, real estate or unsecured personal finance to "facilitate life cycle consumption smoothing". Reported by CNBC.
The reason that Nixon abolished the gold standard was that nearly all gold in the US Treasury was reimbursed by other countries.
Reported by CNBC, Lord Turner, a former UK regulator, says that the west is hooked onto the QE drug.
A must-take freshmen course.
Only the believers of QE Infinity get the profit.
Taper? It is a joke !
This program is to stay for decades !