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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Satyajit Das: Economic Uppers &amp; Downers | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="Zuo7voHYrW"&gt;&lt;a href="https://www.nakedcapitalism.com/2011/04/satyajit-das-economic-uppers-downers.html"&gt;Satyajit Das: Economic Uppers &amp; Downers&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2011/04/satyajit-das-economic-uppers-downers.html/embed#?secret=Zuo7voHYrW" width="600" height="338" title="&#x201C;Satyajit Das: Economic Uppers &amp; Downers&#x201D; &#x2014; naked capitalism" data-secret="Zuo7voHYrW" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>By Satyajit Das, the author of Extreme Money: The Masters of the Universe and the Cult of Risk (Forthcoming in Q3 2011) and Traders, Guns &amp; Money: Knowns and Unknowns in the Dazzling World of Derivatives &#x2013; Revised Edition (2006 and 2010)  Quantitative easing ("QE") is the currently fashionable form of voodoo economics favoured by policymakers in the US.  QE, loosely "printing money", entails central banks buying government bonds, which are held on the central bank&#x2019;s balance sheet to inject money into the banking system thatcan be exchanged by banks for higher return assets, such as loans to clients. The purchases also increase the price of governments bonds, reducing interest rates.  Advocates of QE believe that it will lower interest rates promoting expenditure, growth, reduce unemployment and increase the supply of credit to underpin a strong economic recovery. In reality, QE is primarily directed at boosting asset values, subsidising banks, weakening the currency, helping the government finance its deficits and creating inflation.</description></oembed>

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