Stan Druckenmillers view on QE non taper: the 'other side' of the Fed's expanding balance sheet - the average investor who is 'forced' to sell them the bonds...

Stan Druckenmillers view on QE non taper: the 'other side' of the Fed's expanding balance sheet - the average investor who is 'forced' to sell them the bonds and take on more risk... this has forced us to buy securities at subsidized prices and when they adjust, at whatever point in the future, they will adjust immediately and on no volume. In fact, he concludes, that from beginning to end - once markets adjust - that the wealth effect of QE will have been negative not positive.