Ya see Smitty you get it, but the story is very complicated and those who do not wish to learn just criticize. The latest round of QE2 is not an extension of QE1 it's completely different and may bring us to our knees. Yes.we are broke as GB says and this makes it infinitely worse. However , be prepared to get stupid rebuttals.
Keep up the good work. I could give an 8 hour lecture on the Fed but this is a coal board and this is all you get.http://danielamerman.com/articles/Monetize1.htm