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Quantitative easing on Vimeo

Greg Mankiw's Blog found this 12/23/2008 on vimeo.com

Thank you Paddy. I'm just trying to decipher what is new money and what is existing money that is merely being redistributed. For instance, it seems Treasury is lending money to distressed banks (at 0-.25%) usng funds it borrows from savers elsewhere (maybe hedgefund repatriating money back into ...