Gary North, who purports to be an expert on the errors in my book “Web of Debt,” has evidently not actually read it. In an article posted on the Market Oracle on November 23, he says that in calling QE2 a “bold precedent,” I have switched sides. He apparently missed the chapter I wrote on this subject, first published in “Web of Debt” in 2007, saying exactly what I am saying now.
The Federal Reserve is finally using its “quantitative easing” (QE) tool to good purpose, and I’m endorsing that, not just for our central bank but for any central bank anywhere that would be so bold. Continue reading