is qe printing money?, page-4

In circulation is the (sorry for the pun) "money word"
in this scenario.
The Fed want it to end up in circulation although funnily enough the M3 is actually contracting for the first time since the "Great Depression" because banks aren't really very willing to lend.
Which of course is very understandable when U6 unemployment (the one that was used until recently) is at around 23%, millions of homeowners have just stopped paying thier mortages and even a large proportion of the ones that still pay thier mortages are in substantial negative equity.
Will be very interesting to see how long they can keep this game of charades going.