Quantitative Easing III

As mentioned previously, I take issue with the semantics of "Quantitative Easing". This is the subject matter for my latest Comment is Free article on the Guardian:

Although we are not monetising the government debt in the same way that Zimbabwe has, it is hard to make any clear distinction. Yes, the Bank of England is purchasing assets on the secondary market (not directly from the Treasury). Yes, the Bank has every intention to mop up this additional liquidity once the economy recovers, but "directness" and "intentions" are largely semantic.