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During thee financial crisis the Fed allowed the ECB and other European central banks to buy a large amount of dollars, which were lent to European commercial b

During thee financial crisis the Fed allowed the ECB and other European central banks to buy a large amount of dollars, which were lent to European commercial banks who had short-term liabilities denominated in USD. For reasons that I cannot grasp, the author thinks this is bad for the global economy.

igravious 9y ago
Cui bono?
cm2187 9y ago
Yeah, and you have to go through a lot of ranting about banks before getting to the actual story. Which isn't much of a story. I looked on the Fed B/S, the amounts don't seem very large in comparison with the magnitude of QE.