The most important step in quantitative easing is that the central bank creates new money for use in an economy.
Central bank can do this because its money is accepted as payment by everybody. Sometimes dubbed incorrectly "printing money", a central bank simply creates new money at the stroke of a computer key, in effect increasing the credit in its own bank account. It can then use this new money to buy whatever assets it likes: government bonds, equities, houses, corporate bonds or other assets from banks.
A side effect of quantitative easing will be that this new money is expected to raise consumer prices.

$14 trillion national debt. That $14 trillion figure that shows up on the national ledger — is a terrifying, awesome, hellacious number, but get ready to tack some zeroes onto it. Kevin D. Williamson claims the real US National Debt is $130 trillion.
In the United States, the ECRI leading indicator published by the Economic Cycle Research Institute has collapsed to a 45-week low of -5.7 in the most precipitous slide for half a century. Federal Reserve chairman Ben Bernanke is waging an epochal battle behind the scenes for control of US monetary policy, struggling to overcome resistance from regional Fed hawks for further possible stimulus to prevent a deflationary spiral.
Recently, RBS (The Royal Bank of Scotland) tolds clients to prepare for monster money printing by the FED.

Republic of Texas Begins Minting Private One-Ounce Silver Proof Medallions

Victoria, TX – June 23, 2010 – As the U.S. federal government increases its pressure on states and individuals working to reclaim rights guaranteed by the U.S. Constitution, the response from the freedom movement varies across the U.S., from the subtle “Tenth Amendment” resolutions to the re-awakening of state militias.

But to the south, the republic of Texas nation has taken a slightly different, yet more pro-active and hands-on approach.

“This is just the beginning; we don’t intend to sit on our hands and watch our nation and the U.S. drift into financial slavery.”

“Everything’s bigger in Texas,” says District 8 senator Robert Wilson, “especially our will to resist tyranny. Remember the Alamo? We won nationhood by international treaty in 1836 when we soundly defeated Mexico’s president Santa Anna and his armies at the battle of San Jacinto. And since the U.S. Constitution doesn’t grant congress the authority to ‘annex’ another nation by a ‘resolution’, we stand on a solid lawful foundation to enjoy all the rights God granted us, like establishing our own separate economic system.”

While the rest of the country’s economic outlook turns more bleak by the day, the republic of Texas’s elected government implements precautionary measures to weather the storm. “Our three-tiered approach keeps us virtually unaffected by the federal reserve’s inflationary policy: we store our nation’s wealth in Silver, trade Silver with local vendors as often as practical, and help Texians ditch the sinking U.S. dollar by providing a cost-effective method to revert to the republic of Texas national metal currency, modeled from our currency of the 1800′s.”

Wilson, who is on the nation’s Depository Committee, views the strategy as a proportional response to the U.S. federal government’s recent rumblings regarding Americans’ right to own guns and organize local militias. “They don’t want us to have the means to protect ourselves. What are they afraid of? We must protect the Texian people with our independent silver-backed system, immune from their fraudulent and inflationary manipulation.”

The basis for the new Silver currency is established in partnership with the American Open Currency Standard, an organization most well known for the design of a similar economic system built for the Lakota Nation and the Free Lakota Bank.

“We are delighted that the republic of Texas selected the Open Currency standard for their new currency,” says Rob Gray, Executive Director. “This is a major accomplishment for our mission and a huge step in the direction of an honest system of trade not just for Americans, but also for nations across the world.” Gray’s group helps communities mint precious metals for local currencies and barter purposes.

Future plans for the republic include recruiting manufacturers and producers to trade with the government and Texians, as well as the establishment of a metals ‘bank’ to facilitate commerce and create an opportunity for loans and investment. Wilson concludes that more is to come: “The rest of the world is invited to join us in this historic project by purchasing our Silver currency and investing in our first depository. This is just the beginning; we don’t intend to sit on our hands and watch our nation and the U.S. drift into financial slavery.”

For more information, visit the republic of Texas website at www.texasrepublic.info.