>QE is buying back debt with newly printed money. It's an accounting trick. They are paying off a dollar of debt with 70 cents. Nothing too tricky about that.
If you want to oversimplify the work of the Fed, fine. But the real question is whether or not QE will lead to hyperinflation, as gleefully predicted by Schiff, et. al. To date, there is zero evidence to support that theory.
I'm going to make a prediction for one year from now: Unemployment will be between 4 and 5 percent, inflation will be below 2 percent and Peter Schiff will still be saying hyperinflation is right around the corner, hoping against all odds that his broken clock is right this time.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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