This hilarious explanation of quantitative easing by two straight-talking cartoon-characters questions the wisdom of relentless money supply expansion. It has been viewed on YouTube more than 6 million times. [6 min/ Econ 101, Incompetent government]
“Any system which gives so much power and so much discretion to a few men, [so] that mistakes — excusable or not — can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic — this is the key political argument against an independent central bank…To paraphrase Clemenceau, money is much too serious a matter to be left to the central bankers.”
–Milton Friedman
–Wikipedia: iQuantitative easing
–Rolling Stone: iQuantitative Easing–The Hidden Government Subsidy for Banks
–Bloomberg View: The Secret Goldman Sachs Tapes
–Reason: How Quantitative Easing Helps the Rich and Soaks the Rest of Us
–Forbes: The Federal Reserve Is Making A Big Mistake
–Time: This Former Fed Official Thinks Quantitative Easing Has Been a Disaster