November 09, 2012 at 14:44 PM EST
Bank of England Acknowledges the Potential Disaster of Central Banks Unwinding QE Asset Purchases
MINYANVILLE ORIGINAL This morning the Bank of England announced that it would transfer the coupon payments it had received from the UK government on its QE purchases back to the government. The goal of this return of money is to pay down the UK's existing debt. Frankly this is not a new development among central banks and governments around the world (the Fed and Bank of Japan both do this). Some may point to this as monetary financing of governments which it arguably is but that's what QE is to begin with. The dilemma is this: You can have ...
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