qe how it really works, page-9

Ctindale

This is an unimpressive article.

1. It doesn't describe the accounting mechanisms of QE in the books of the US Treasury.
2. It demonstrates no understanding of the impact of the securities purchases on balance sheets and capital adequacy ratios of the banks. He certainly doesn't understand what the underlying purpose of QE has been.

Shoddy work. Too much "cut and paste" and too little meaningful exposition. B-