''Ron Hera on why QE3 is really a bank bailout''

From GoldMoney..........''Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. GoldMoney's Alasdair Macleod talks to Ron Hera, who is the founder of Hera research. They discuss the Federal Reserve's latest quantitative easing programme, investing in the resource sector, problems in the eurozone and the US government's fiscal cliff''................................

''QE3 aims to keep the prices of bank collateral elevated in order to prevent debt deflation. The Fed is also hoping that banks will lend the money into the economy to stimulate growth and jobs. However, Hera states that there is no way that Fed policy can boost employment because banks won't increase lending in a declining economy.''