Eurozone QE

Quantitative easing (QE) for the eurozone, as recently announced by the European Central Bank, in the enormous sum of at least €1 trillion, will prove as 
unsuccessful as our own recent £375 billion of QE.

Ours amounted to £6,048 for every man woman and child in the UK. I never saw any of it, or received benefit from it, so where did it go?

The banks – which were supposed to lend it – simply kept it and used it to pump up the stock market, and repair their balance sheets.

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If the banks had nobody to lend to before – and that was the rationale of QE – why would they suddenly have people to lend to just because they had another £375bn in their coffers?

Same for the eurozone, where 330 million people should benefit from €3,030 per man, woman and child, with just €1 trillion of QE, but they won’t.

The simple answer would be to put the money – as actual cash – in bins on street corners, or to throw it out of aircraft over major cities.

That way, the money actually goes directly into the economy, as intended.

Malcolm Parkin

Gamekeepers Road

Kinnesswood, Kinross