As unbelievable as it seems, there are some brilliant cartoonists who have managed to craft a charming explanation of the QE2.If you prefer a more detailed explanation from an economist of the dismal science, you can find a very satisfactory explanation here.
He doesn't get to his explanation until 12 minutes into the talk, but it is well worth the wait. Make some tea or coffee while you're waiting. Just be forewarned that the birthing of a new dollar is no immaculate conception; it is a messy affair.
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