Cheers atomic79,
Mr. Hamilton:
'By conjuring money out of thin air to buy up US Treasuries, the Fed was directly subsidizing the Obama Administration’s record deficit spending. As it purchased Treasuries and transferred brand-new dollars to Washington, the federal government spent this money almost immediately. That injected this vast new monetary inflation directly into the underlying US economy, creating tremendous market distortions.'
But, the U.S. Dollar Index (DXY) over say the last 5 years indicates this 'new paper' has been absorbed by 'the world at large'
with its unceasing demand for international transaction/holding (?) liquidity.
The world is awash with USD, seeking a return, it seems.
