winston wrote:BoE launches QE2 with US$116b cash boost
LONDON - The Bank of England voted on Thursday to buy 75 billion pounds (US$116 billion) more in assets to shield Britain's economy from the euro zone debt crisis and keep the faltering recovery going.
Source: Business Times
the way BBC explains this QE is very apt.. it says
BoE PRINTS money and gives that to banks and in return receives assets. blah blah blah....when you visit casinos, they "print" money too... in the form of playing chips...
you hand over real cash for those plastic chips....
for the conspiracy theorists, they will believe this is how BoE (which by the way, just like Fed Reserve), a privately held bank, controls society... it prints phoney money and gets real assets(like bank shares, businesses, buildings, gold, etc)...
brilliant