“‘This unlimited QE (quantitative easing), buying mortgage-backed securities (MBS) and continuing operation twist has the implication of simply having asset prices go up and the money flows down to the Mayfair economy,’ Faber said. A Mayfair economy is one which benefits the wealthier and better off in society. ‘QE helps rich people whose asset prices go up and whose net worth then increases but it doesn’t flow to the man on the street who is faced with higher costs of living with price rises. You just have a small economy that is booming but the majority of the economy is damaged by QE.'”
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