OF THE
TIMES
Among the trading rooms and floors of Connecticut and Mayfair [in London], supposedly sophisticated money managers are raising big questions about QE3 - and whether, this time around, the Fed is not risking more than it can deliver.
Which raises the question, what is it intended to deliver? As suggested in an earlier article here, QE3 is not likely to reduce unemployment, put money in the pockets of consumers, reflate the money supply, or significantly lower interest rates for homeowners, as alleged. It will not achieve those things because it consists of no more than an asset swap on bank balance sheets. It will not get dollars to businesses or consumers on Main Street.
"Let's even imagine that we have an atomic weapon, a nuclear weapon. What would we do with it? What intelligent person would fight 5,000 American bombs with one bomb?"Cohen's surprise notwithstanding, numerous Iranian leaders, including Ahmadinejad, have long made the same point. And it's a point so obvious it should not even need to be made. No rational person takes seriously the claim that Iran, even if it did obtain a nuclear weapon, would commit instant and guaranteed national suicide by using it to attack a nation that has a huge nuclear stockpile, which happens to include both the US and Israel. One can locate nothing in the actions of Iran's regime that even suggests irrationality on that level, let alone suicidal impulses.
Comment: As to why the Powers The Be wish to promote ideas about the "End of the World" see:
2012 - On The Eve Of Destruction?
How is the World Going to End in 2012?
Chaos and Consent: The Logistics of the One World Government