It Begins:

Remember earlier this year when Mario Draghi said that the use of helicopter money was "a very interesting concept"? If not, rest assured that 18 members of the European Parliament do.

In an open letter to ECB president Mario Draghi, 18 members of the European Parliament's social democrat, leftwing and green groups recommended that the ECB look into the use of helicopter money and buying bonds from the European Investment Bank "as possible solutions to enhance economic development through direct spending into the real economy" the FT reports.

Fabio De Masi, a German lawmaker from the Die Linke party is pushing the ECB to consider alternative policy options because QE combined with austerity "will only inflate asset bubbles as nobody invests despite ultra-low interest rates", adding "we hence need to spend directly into the economy. Funding public investment via EIB would be my preferred option but helicopter money to low income households would definitely work."

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SideNote: I still believe the Fed will unleash QE4/helicopter money this summer in time for the Prez elections in Nov. GRIM