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Quantitative easing has pernicious effects that favour the wealthy

By John Buttler, originally published in the The Guardian. John is vice president and head of wealth services for Goldmoney and a consultant to Cobden Partners, an economic consultancy. It is time to start calling QE what it is: a hidden tax on the wealth of middle-class savers and pensioners The prolonged unconventional, quantitative easing (QE) monetary policy of the Bank of England has effectively hijacked fiscal policy from the government, with disastrous effects on savers and pensioners and in a way that makes wealth inequality worse more generally.
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