3/11/09

What does 'quantitative easing' mean?

The Bank of England


will start pumping newly created money into the economy today


 by buying £2 billion in gilts


 as it embarks on "quantitative easing"


 in an effort to boost the economy...


 


Mervyn King, the Governor of the Bank


 indicated last week that the Bank would continue this course of action


 until the lending markets became unglued


 


Bank to begin 'printing money' to boost economy


The Times, UK


Via Calculated Risk


Why did the Athenians create more money


by decreasing gold and silver coin content


during the Peloponnesian war?


Athenian money…defined a pattern


which was to repeat in other empires which were to follow


dominance of trade


influx of gold to balance exports


 public wealth


 liberty


 overconfidence


the discovery of loosely managed money


as a stimulating solution to stagnation in an economy near its zenith…


before finally the emptiness of the monetary promise was exposed


leading to rapid national collapse


 


Paul Tustain


Did increasing amounts of money, debt, energy and people


enable the world to consume more raw materials in the last 75 years


than in recorded history?

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