To: zzpat who wrote (1084707 ) 8/23/2018 8:46:36 PM From: RetiredNow 1 RecommendationRecommended By
Read Replies (3) | Respond to QE enriched the very bankers who blew up the economy. QE didn't do a damned thing for the 99%. What it did was put bad debt assets onto the Fed's balance sheet using trillions of USD conjured out of thin air and ultimately was taken out of the wealth of the American taxpayer. QE was nothing more than printing money to deposit into the accounts of the Fed banks, which then bought MBS and Treasuries, then those banks pocketed the interest, racking up massive profits, which they then paid out as massive bonuses to themselves and as dividends to their shareholders. I benefited, because I'm an asset holder. The 99% has almost no assets to speak of. They didn't benefit one iota from having the value of their currency destroyed and our debt exploded into the stratosphere since 2009. Crimes were committed and Obama swept it under the rug like a good little boy who was bought and paid for, just like Bush Jr before him.
