Comments by "Edward McLaughlin" (@edwardmclaughlin7935) on "Bank of England Crashing Its Own Bond Market!" video.

  1. The account of QE given here, seems to leave out a crucial part of its intended application. If the central bank/government are truly in the business of trying to right the economy, then it is not enough just to increase the supply of currency; in fact, if 'money printing' just stops there, then this can only damage the economy by bringing about the 'dilution' of its existing currency stock - 'inflation' as it is classically and more usefully defined. Just supplying more currency and leaving it to banks and borrowers to decide how that extra currency is employed, inevitably leads to spending in non-productive directions: people will treat themselves to that new car/holiday/house extension etc; and the prices for these and for every other consumer product are forced upwards. So the 'printing of money' is not only not enough, it is positively damaging. To gain anything from QE, the newly-invented currency must be made to increase production. This is done by controlling where credit can go and where it is not to be directed. The "QE" referred to in recent US and UK coverage is not the QE proposed by Professor Richard Werner. Hence it is much-maligned to the extent that it is regarded by the layman as a possible cause of the current turmoil. That cause originates elsewhere.
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