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Collateral Damage: QE3 and the Shadow Banking System
Rather than expanding the money supply, quantitative easing (QE) has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit. The “failure” of QE has prompted the Bank for International Settlements to urge the Fed to shirk its mandate to pursue full employment, but the sort of QE that could fulfill that mandate has not yet been tried. Ben Bernanke’s May 29th speech signaling the beginning of the end of QE3 provoked a “taper tantrum” that wiped about $3 trillion from global equity markets – this from the mere suggestion that the Fed would moderate its pace of asset purchases, and that if the economy continues to improve, it might stop QE3 altogether by mid-2014. The Fed is currently buying $85 billion in US Treasuries and mortgage-backed securities per month.
Groundbreaking Study Finds Turmeric Extract Superior To Prozac For Depression
24th July 2013 By Sayer Ji Contributing Writer for Wake Up World A new study published in the journal Phytotherapy Research has confirmed for the first time in a randomized, controlled clinical trial that the primary polyphenol in turmeric – known as curcumin – is both safe and effective in treating serious states of depression.[1] The research was performed at the Department of Pharmacology, Government Medical College, Bhavnagar, Gujarat, India, and involved patients already diagnosed with major depressive disorder (MDD). The objective of the trial was to compare the efficacy and safety of curcumin with fluoxetine (Prozac) in 60 patients diagnosed with MDD. Subjects were randomized to receive either a six week treatment with fluoxetine (20 mg) and curcumin (1000 mg), individually or in combination. Success of the treatment was evaluated using the 17-item Hamilton Depression Rating Scale (HAM-D17).
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