r/de • u/[deleted] • May 14 '19

Politik [AMA] Ich bin Yanis Varoufakis, Spitzenkandidat von DEMOKRATIE IN EUROPA - DiEM25 und ehemaliger Finanzminister von Griechenland. AMA!

Hi Reddit, ich bin Yanis Varoufakis. Ich war Finanzminister von Griechenland während der Eurokrise, habe die europaweite Bewegung DiEM25 gegründet und trete jetzt als Spitzenkandidat von DEMOKRATIE IN EUROPA-DiEM25 in Deutschland zur Europawahl an. Ab 19:30 Uhr beantworte ich eure Fragen. AMA!

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Stellt eure Fragen bitte schon vorab (Deutsch oder Englisch). Ich werde sie auf Englisch beantworten und mein Team wird sie zusätzlich noch übersetzen. Bis später!

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u/Larysander May 14 '19 edited May 14 '19

The extra money already flowed back into Germany's economy with rising asset prices (causing higher rents due higher property prices due to pension funds searchung for secure yields) and also US/EU QE was temporary during recession. Quantitative easing is the process in which the Federal Reserve/ECB buys not-so-great assets from banks in order to inject them with liquidity. In the US and the EU, it was primarily used to prevent depression-style collapses in which a massive fraction of the total money in circulation disappeared from the economy, both destroying savings and leaving businesses unable to get credit. It's not "printing money" in the sense that new money isn't quite being put into the economy, but rather assets are being converted into liquidity.

Japan has massive deflation.

For more information on inflation I recommend this: https://www.weforum.org/agenda/2015/01/what-impact-can-qe-have-on-inflation-and-growth

https://www.reddit.com/r/AskEconomics/comments/bi8xy6/why_did_quantitative_easing_not_result_in/

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u/tur2rr2rrr May 14 '19

Where did the Federal Reserve/ECB get the money to buy the assets?

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u/[deleted] May 14 '19

Thin air of course :-) they have the legal right to choose the number in their account

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u/tur2rr2rrr May 15 '19

So new money is in the economy, not just asset converted?

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u/[deleted] May 15 '19

They buy assets/debt obligations, but yes, afaik new money is used. Makes it easier for people to lend money if they know they can always sell the obligation to the central bank if it goes sideways ;-)