Russia’s G20 official says over Reuters that the “G20 should hold consultations before steps such as Fed’s QE”. I am not sure where he is coming from on this one. Since when has it been necessary for a country to consult other countries on domestic monetary policy. We of course KNOW where he is coming from – also have you noticed that the most strident criticism on QE2 has come from China, Germany and Russia. Three of the biggest C/A surplus nations on the planet.