Comments on: Quantitative easing: The latest windfall from us all to “country London”

By: Quantitative Easing is stimulating commodity trading, not the real economy | Left Foot Forward

Thu, 09 Feb 2012 19:31:10 +0000

[…] Quantitative easing: The latest windfall from us all to “country London” – Ranjit Sidhu, October 8th […]

By: Sophia

Sophia — Mon, 10 Oct 2011 10:32:06 +0000

Sickening RT @RupertRead: http://t.co/i1GQbCbN Terrible but true: how QE is benefitting the rich.

By: Gus Hoyt

Gus Hoyt — Mon, 10 Oct 2011 09:06:12 +0000

http://t.co/qwiOGVwN Terrible but true: how QE is benefitting the rich.

By: carboncoach

carboncoach — Mon, 10 Oct 2011 08:59:41 +0000

http://t.co/qwiOGVwN Terrible but true: how QE is benefitting the rich.

By: RupertRead

RupertRead — Mon, 10 Oct 2011 08:59:16 +0000

http://t.co/qwiOGVwN Terrible but true: how QE is benefitting the rich.

By: Bachu Ramji

Bachu Ramji — Sun, 09 Oct 2011 21:51:29 +0000

rich people will get more richer by throuing 275 billion. It want creat any extra GDP. has government heard the word NATIONALIZE????
In the name of Nations sicurity.????

By: Guido Fawkes

Guido Fawkes — Sun, 09 Oct 2011 14:17:03 +0000

You NOW say “at no point have a written that 275 billion was “given” to banks.”

In the text you query “…why £275 billion was needed to be given so freely to the banks in an obligation free way”

You also say “I do find sometimes people read what they want to read rather than what is written.” My conclusion is that you are an idiot.

By: Will quantitative easing work this time? | Left Foot Forward

Will quantitative easing work this time? | Left Foot Forward — Sun, 09 Oct 2011 13:21:18 +0000

[…] also: • Quantitative easing: The latest windfall from us all to “country London” – Ranjit Sidhu, October 8th […]

By: Ranjit Sidhu

Ranjit Sidhu — Sun, 09 Oct 2011 12:19:48 +0000

My article in LFF on quantitative easing has caused a bit of a stir – direct emails etc… madness http://t.co/cIKlcw2g

By: Luis Enrique

Luis Enrique — Sun, 09 Oct 2011 11:52:11 +0000

Ranjit,

you’re right – I don’t think you actually thought QE involved just giving money to banks, otherwise you’d hardly need to cite the NEF as evidence for it being a “windfall”; it would be self-evident.

But look at the words you used:

“why £275 billion was needed to be given so freely to the banks in an obligation free way”

“so that financial institutions could have an extra £275 billion pounds”

I don’t know how to put this without causing further offense, but I don’t think you expressed yourself terribly well there.

you also describe QE as “watering down every pound in our pockets”, and as I have tried to point out, this is both factually incorrect (re-read the Krugman post) and the rhetoric of the Republican Party.

I have also tried to point out that “throwing sacks of gold at London” isn’t quite the right way to characterize something that lowers the government’s cost of borrowing, to the benefit of taxpayers, and that worries about loses incurred by the BoE are misplaced.