Has anyone actually calculated how much of this money has been pumped into the market? Now, I'm not the worlds leading expert in QE here, so correct me if my formula is off. If we take all the money that the banks have made from selling bonds to the Fed, and subtract that from the value of the assets they have purchased with that money would be the theoretical real value of the market? Somehow that doesn't make sense. Well, I don't think it is possible to know how much of that money was spent. IMO, most, if not all of that money is being horded for a rainy day somewhere in the future where there really is a big market crash/recession/depression like '29 or '73. Basically, I'm in the camp that says that we're not in a QE bubble because QE isn't the cause of the economic recovery from the Great Recession.