Richard Murphy says:
September 15 2015 at 7:00 am
Gilt holdings by banks have increased
So, err, how have the banks got money by selling gilts to the BoE then?
No, seriously, walk through this. Before QE the banks held pretty much no gilts at all. During QE bank holdings of gilts rose. Now, with QE maintained but not expanding, banks hold lots of gilts.
So, how have banks got money by selling gilts into QE?
Bank gains from QE were due to reinvestment of proceeds, not direct gain
What fucking proceeds?