Alan Kohler climbs aboard the monetary helicopter today:
QE involves printing money and buying government bonds from banks to give them cash. Why not just give the cash straight to the government? Presumably because central bankers don’t trust politicians, although why they would trust bankers more is a mystery.
Anyway, fair enough, politicians are not to be trusted with printed money. They might get used to it, and take control of the printing presses by passing a law that ends central bank independence.
