Deceiving editorial from Fisher Investments

 Fisher Investments Editorial Staff 

 However, QE isn’t “money printing.” Rather, central banks exchange reserves for long-term debt, which they buy on the secondary market. Those reserves end up on bank balance sheets. New money doesn’t flow to the Treasury, which must continue selling all new bonds to banks and investors at issuance. 

When the Fed does E they impose a seigniorage tax. That tax is likely going to be near a hundred billion/yrear in the next five years. Fisher Investments are flat earthers.