Fed central banking ECB BOJ interest rates QE

The Fed's Not So Excellent Adventure

Quantitive easing, qualitative easing, yield curves, repos, interbank loans, interest rates, reserves, sterilization, discount windows, open market purchases, monetization, and of course mesmerization to calm the speculators are just some of the monetary gears and wheels that to the untrained eye appears to be a Rube Goldberg machine that no mere mortal can comprehend. To others it is not a machine, but a dance where bond and stock markets undulate to the monetary music emanating from the central bankers.