I met the BSP Loan Officer Last night

                                 

Last night, I discussed with the entrep class:  the value of money, money vs currency, money creation of central bank, and the QE activities of US Fed Bank under Ben Bernanke. Massive liquidity infusion:  printing of money, buying back securities/Treasuries injects liquidity to the system.  They may be harmful to the economy.  This causes inflation and currency devaluation.

The QE in the US has resulted in stock market rally;  but not in creation of businesses and jobs.

Last night also, in the wake of a classmate in college who succumbed to a stroke, I met a former colleague in the college paper who is now a Managing Director for Loan operations.  He says he reports to a Deputy Governor who we both know, comes from the same school and was involved in activism. 

Those who sympathized with the family were mostly lawyers and bankers.  Our classmate was a lawyer, and the wife is a senior officer of PDIC.  Bank CEOs I heard visited the wake.