Original Article Published at www.investmentcontrarians.com

In a recent editorial, I talked about QE3 (a third round of quantitative easing implemented by the Federal Reserve) and how it was a reward largely for the upper echelons of income-earners. The middle class will benefit due to the lower carrying costs, but the rich will really be the net benefactors of this monetary policy.

Quantitative easing (“QE”) has been a term used in investor’s vocabulary since January ’09, when the first round of QE (“QE 1.0”) was introduced.

Federal Reserve Chairman Ben Bernanke is speaking in front of Congress, and the prepared remarks basically said that QE3 is going to happen if the economy continues to worsen.