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Saturday, October 8, 2011

QE - We recovered by doing the forbidden

CHE DET

What is quantitative easing? It is about printing and issuing money to overcome a financial problem. Lately Britain has printed 75 billion pounds to help distressed banks and others.

It is very innovative. And very easy. When you lose money just print the replacement. If Malaysia had done a Q.E. during the Asian Currency Crisis, what would the International Monetary Fund, the World Bank, the financial and monetary experts say?

We would be condemned.



They resorted to all the things they told us not to do when our financial situation was in a tailspin as the currency traders devalued the Ringgit. They bailed out failed companies and banks with huge sums of money, they stop short selling, they talk of controlling the currency traders, etc. etc.

We recovered by doing the forbidden. But they have not recovered.

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