The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Monday, August 22, 2011

The US, UK, Europe and Japanese central banks are all buying government bonds--aka...

Printing money. Amazing to think about it, really: in 2011 we have the Fed, BoE, ECB and Bank of Japan all buying their own government bonds. Imagine if the RBA decided to buy large volumes of the Commonwealth Government's bonds! To be clear, this would be one part of the government raising debt (ie, money) by getting a loan from another part of that same government (ie, the RBA). This is what is happening in the US, UK, Japan and Europe right now.
at 6:37 PM