QE3: A plan to stabilize the global monetary system

By Paul Brodsky and Lee Quaintance of QB Partners (Hat tip Barry Ritholtz) • Deflation • Quantitative Easing (QE2 & QE3) • A nod to Christopher Hitchens • The G7 financial system must deleverage to regain a semblance of stability and sustainability. It does not need more credit. It does not need more taxes. It needs more money. Nothing changed fundamentally to the US or global economies in July to warrant such a sudden and sharp divergence between equities and precious metals (almost 13%). Investor perception, however, did seem to congeal around a unifying theme – “deflation”. Fed Chairman Bernanke and even his hawkish colleague, James Bullard, set the table in July for QE2, as we suspected the Fed would eventually have to do. We should not be surprised with an anno...


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