The crowning failure of old governments

This is a good treatise on why QE 2.0 won't work.

http://www.huffingtonpost.com/garrett-johnson/the-crowning-failure-of-t_b_761500.html

Trichet warns of "beggar thy neighbor" policies

He knows competitive currency devaluation wars lead to trade wars, protectionism and plummeting global trade. This was the exact scenario which triggered the Great Depression.

http://imarketnews.com/?q=node/20665