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But the Fed pays interest on excessive bank reserves. So even QE dollars may carry a right to income.
by generic on Sun Jun 6th, 2010 at 01:16:49 PM EST
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I think it's fair to say that the dollars don't, but the clearing banks' relationships with the Fed do - at least for the time being.

"The future is already here -- it's just not very evenly distributed" William Gibson
by ChrisCook (cojockathotmaildotcom) on Sun Jun 6th, 2010 at 01:23:14 PM EST
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